Tsunami alerts after 8.8 quake rocks Chile


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WASHINGTON // A tsunami was racing across the Pacific Ocean last night after a devastating 8.8-magnitude earthquake rocked Chile, claiming more than 100 lives and destroying roads and buildings. The US-based Pacific Tsunami Warning Center issued a tsunami warning for all countries around the Pacific Rim on Saturday, including South America, Australia and New Zealand, Japan, the Philippines, and Russia. Officials in Hawaii sent boats out to sea and urged residents to move to higher ground.

As of 11pm UAE time a 20 centimetre wave hit New Zealand's eastern Chatham Islands but officials warned much bigger waves three metres high were expected. News reports from Chile described flattened buildings and dazed people walking in the streets in the aftermath of the quake, which struck in the middle of the night off the coast of Maule, as many Chileans were sleeping. Some said the violent shaking lasted for 90 seconds or more.

The full scope of the damage remained unclear. Chilean television showed collapsed bridges, damaged cars and rubble scattered in the streets. Michelle Bachelet, the Chilean president, declared a "state of catastrophe" and warned that the death toll was likely to rise. "With a quake of this size we undoubtedly can't rule out more deaths and probably injuries," she said. She asked her people to remain calm and said the authorities were doing all that they could.

At least 147 people were confirmed dead when The National went to press. The earthquake was the latest seismic activity reported in recent days. Yesterday, Japan's Okinawa island was hit by its biggest seismic jolt in more than half a century when a powerful 7.0 magnitude tremor struck, triggering minor tsunamis. On Thursday tens of thousands of homes were damaged in a 5.1-magnitude quake in China's Yunnan province. And on Friday, a 5.5-magnitude earthquake struck offshore the southern Phillipines

Officials in Chile warned that last night's death toll was likely to rise. "The number of victims could get higher," said the Chilean president-elect Sebastian Pinera, as he offered his condolences to the families of the victims. The quake struck at 3.34am, according to the US Geological Survey, with its epicentre just 113km from Chile's second-largest city, Concepcion, where a 15-story building reportedly collapsed. Some 320km away from the epicentre, in Santiago, the Chilean capital, there were also reports of extensive damage.

The Santiago airport was to be closed for at least the next 24 hours. Eleven aftershocks were reported, five of them measuring 6.0 or above. The rumbling earth was felt as far away as Japan and Argentina, where some buildings were evacuated. The quake comes more than a month after a 7.0-magnitude earthquake devastated the Haitian capital of Port-au-Prince, killing 200,000 people and leaving the tiny impoverished island nation in tatters.

Chile, however, was expected to fare better because many of the newer buildings there are designed to withstand earthquakes. There have been 13 earthquakes of magnitude 7.0 or greater in Chile since 1973. The quake triggered a tsunami that was expected to hit Pacific coastlines around the world. A three-metre wave was reported to have reached a populated area in the Robinson Crusoe Islands, 660km off the Chilean coast. In Talcahuano, a municipality of Concepcion, a two and a half metre wave was reported to have struck, and video footage showed heavily flooded streets.

The tsunami was expected to reach the Hawaiian Islands in the late morning, and a lower-grade tsunami advisory was in effect for the coast of California and an Alaskan coastal area. Tsunami warning sirens in Hawaii sounded at 6am and were to continue at 30 minute intervals. The waves there were expected to reach as high as four and a half metres, according to some reports. Reports of the destruction in Chile were streaming into Twitter, the social networking website.

"The earthquake was absolutely terrifying," Cecilia Lagos, a Chilean journalist in Santiago, told CNN. "I was sleeping just like almost everybody, and all of the sudden of course I woke up - it got louder and stronger and more intense and faster." Robert Gibbs, the White House Press Secretary said President Barack Obama was closely monitoring the situation, including the potential for a tsunami. "Our thoughts and prayers are with the people of Chile, and we stand ready to help in this hour of need."

A US state department spokeswoman, Megan Mattson, said the United States is "committed to helping the people of Chile." "We have reached out to and stand ready to assist the government of Chile as rapidly and effectively as we can," she said. Hillary Clinton, the secretary of state, was scheduled to visit Chile and four other South American nations next week. In 1960, a 9.5 magnitude earthquake, the largest ever recorded, struck Chile, killing 1,655 people. That quake also unleashed a tsunami that crossed the Pacific, killing 61 people in Hawaii, Japan, and the Philippines.

@Email:sstanek@thenational.ae

Countries recognising Palestine

France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra

 

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Results

2-15pm: Commercial Bank Of Dubai – Conditions (TB) Dh100,000 (Dirt) 1,400m; Winner: Al Habash, Patrick Cosgrave (jockey), Bhupat Seemar (trainer)

2.45pm: Al Shafar Investment – Handicap (TB) Dh80,000 (D) 1,200m; Winner: Day Approach, Ray Dawson, Ahmad bin Harmash

3.15pm: Dubai Real estate Centre – Handicap (TB) Dh80,000 (D) 1,600m; Winner: Celtic Prince, Richard Mullen, Rashed Bouresly

3.45pm: Jebel Ali Sprint by ARM Holding – Listed (TB) Dh500,000 (D) 1,000m; Winner: Khuzaam, Pat Dobbs, Doug Watson

4.15pm: Shadwell – Conditions (TB) Dh100,000 (D) 1,600m; Winner: Tenbury Wells, Royston Ffrench, Salem bin Ghadayer

4.45pm: Jebel Ali Stakes by ARM Holding – Listed (TB) Dh500,000 (D) 1,950m; Winner: Lost Eden, Andrea Atzeni, Doug Watson

5.15pm: Jebel Ali Racecourse – Handicap (TB) Dh76,000 (D) 1,950m; Winner: Rougher, Pat Dobbs, Doug Watson

Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

THE BIO

Favourite book: ‘Purpose Driven Life’ by Rick Warren

Favourite travel destination: Switzerland

Hobbies: Travelling and following motivational speeches and speakers

Favourite place in UAE: Dubai Museum

The biog

Favourite book: Animal Farm by George Orwell

Favourite music: Classical

Hobbies: Reading and writing

 

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet

Director: Shady Ali
Cast: Boumi Fouad , Mohamed Tharout and Hisham Ismael
Rating: 3/5

TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%209
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UEFA CHAMPIONS LEAGUE FIXTURES

All kick-off times 10.45pm UAE ( 4 GMT) unless stated

Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid

Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona

Silent Hill f

Publisher: Konami

Platforms: PlayStation 5, Xbox Series X/S, PC

Rating: 4.5/5

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.

A semen analysis of the father showed abnormal sperm so the couple required IVF.

Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.

A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.

On day three of the process, 14 embryos were biopsied for gender selection.

The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.

Day five of the treatment saw two male embryos transferred to the patient.

The woman recorded a positive pregnancy test two weeks later. 

Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds  

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices