Beirut: fire breaks out at Zaha Hadid building


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A fire broke out on Tuesday morning at the Zaha Hadid building in central Beirut. Videos on social media showed firefighters attempting to extinguish the flames as smoke billowed from the building and over the Hilton hotel next door.

Crowds gathered around the famous building, designed by celebrated architect Dame Zaha Hadid, as parts of the external wall fell away in the flames.

The Lebanese Civil Defence has announced that the flames are now under control. There have been no injuries reported so far.

It was not immediately clear what caused the fire at the futuristic seafront building, which sits on the main road that runs past the port.

  • Lebanese firefighters douse the flames of a blaze that engulfed the Zaha Hadid building in central Beirut. AFP
    Lebanese firefighters douse the flames of a blaze that engulfed the Zaha Hadid building in central Beirut. AFP
  • Videos on social media showed firefighters attempting to extinguish the flames as smoke billowed from the building and over the Hilton hotel next door. AP Photo
    Videos on social media showed firefighters attempting to extinguish the flames as smoke billowed from the building and over the Hilton hotel next door. AP Photo
  • Crowds gathered around the famous building, designed by celebrated architect Dame Zaha Hadid, as parts of the external wall fell away in the flames. AFP
    Crowds gathered around the famous building, designed by celebrated architect Dame Zaha Hadid, as parts of the external wall fell away in the flames. AFP
  • The Lebanese Civil Defence has announced that the flames are now under control. There have been no injuries reported so far. AFP
    The Lebanese Civil Defence has announced that the flames are now under control. There have been no injuries reported so far. AFP
  • It was not immediately clear what caused the fire at the futuristic seafront building, which sits on the main road that runs past the port. AFP
    It was not immediately clear what caused the fire at the futuristic seafront building, which sits on the main road that runs past the port. AFP
  • This is the second time in less than a week that the city has suffered a major fire. AFP
    This is the second time in less than a week that the city has suffered a major fire. AFP
  • Civil defence tackle the blaze. Reuters
    Civil defence tackle the blaze. Reuters
  • Civil defence tackle the blaze. Reuters
    Civil defence tackle the blaze. Reuters
  • Crowds gathered around the famous building as civil defence tackles the blaze. Reuters
    Crowds gathered around the famous building as civil defence tackles the blaze. Reuters
  • Civil defence tackle the blaze. Reuters
    Civil defence tackle the blaze. Reuters

This is the second time in less than a week that the city has suffered a major fire. Last Thursday, a blaze broke out at Beirut port, destroying a warehouse storing aid and sending a thick plume of smoke over the city.

The latest fire appears to have engulfed part of the historic souk area in the centre of Beirut. The Zaha Hadid building, a new commercial complex designed by the late British-Iraqi architect, has been under construction for years and was nearing completion when the fire broke out.

The Lebanese capital is still reeling from the huge explosion that killed almost 200 people and injured more than 6,000 on August 4. The blast, which laid waste to swathes of the city and left around 300,000 homeless, prompted the government to resign six days later.

The country is facing an unprecedented economic crisis and financial collapse, blamed on decades of mismanagement and corruption by an entrenched political class.

Last month’s blast – caused by nearly 3,000 tonnes of ammonium nitrate being improperly stored at the port for years – is seen as the culmination of leaders unable to manage the country’s affairs or protect its people.

So far, authorities have been unable to provide answers about the explosion, and there has been no accountability for it.

Last week's fire prompted terrified residents to open their windows and take refuge in corridors fearing a repeat of the August 4 explosion.

It's unclear what sparked the flames last week, which reignited on Saturday before being fully extinguished.

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Multitasking pays off for money goals

Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.

That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.

"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.

Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."

People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.

"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."

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Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

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