Florida on a 'long road' of rebuilding after Hurricane Ian, Biden says


Kyle Fitzgerald
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US President Joe Biden looked to strike a unifying tone on Wednesday when he surveyed Hurricane Ian's destruction of Florida communities, putting political differences aside with the state's Republican governor to focus on the effects of the storm that took at least 100 lives.

Speaking in Fort Myers alongside Mr DeSantis, his potential rival for the presidency in 2024, Mr Biden pledged that he would not abandon the state, which will take years to rebuild.

“Look, there's a long road before us, rebuilding entire communities from the ground up,” he said during a joint news conference with the Florida governor.

“I want the people of Florida to know you have my commitment and America's commitment that we're not going to leave. We're going to see you through this entire process.”

Ian wiped out power to 2.6 million households and businesses when it made landfall in Florida. Hundreds of thousands still remained without power as of Wednesday afternoon.

Storm surges and winds reaching as high as 241 kilometres per hour wrecked cities, destroyed bridges and flooded motorways.

Fort Myers, a popular tourist destination, bore the brunt of the hurricane's damage.

After the storm passed, satellite images revealed the extent to which Fort Myers and Fisherman's Wharf had been damaged. The beach's pier was destroyed, houses were flattened and the once vibrant beach became a wasteland, its crystal-blue waters turning a dark brown.

Previewing the state's long recovery efforts, Mr Biden said it would take years for “everything to get squared away”.

He also met small business owners and local residents, and thanked officials who have provided relief assistance to those affected by the storm.

Mr Biden and Mr DeSantis made an effort to place the focus of the president's trip on those who had been killed in the storm as well as those reeling from damage to their homes and belongings.

“Mr President, welcome to Florida. We appreciate working together across various levels of government,” Mr DeSantis said.

The president's tone leading up to the trip was a unifying one and he lauded Americans' ability to put political differences aside during times of crisis.

When asked by reporters how he thought Mr DeSantis has handled the crisis, Mr Biden said he thought the governor has done a “good job”.

“We worked hand in glove. We have very different political philosophies, but we’ve worked hand in glove … In dealing with this crisis, we’ve been in complete lockstep,” Mr Biden said.

  • Wind gusts, blowing down King Street, twist umbrellas during Hurricane Ian in Charleston, South Carolina. AP
    Wind gusts, blowing down King Street, twist umbrellas during Hurricane Ian in Charleston, South Carolina. AP
  • Flood waters on the streets of the South Battery in Charleston, South Carolina, as Hurricane Ian blows through on September 30. AP
    Flood waters on the streets of the South Battery in Charleston, South Carolina, as Hurricane Ian blows through on September 30. AP
  • People wander the wreckage at a beach community in Bonita Springs, Florida, in the aftermath of Hurricane Ian. AFP
    People wander the wreckage at a beach community in Bonita Springs, Florida, in the aftermath of Hurricane Ian. AFP
  • A US Coast Guard helicopter provided residents of Sanibel Island in Florida with an airlift after Hurricane Ian blew through. AP
    A US Coast Guard helicopter provided residents of Sanibel Island in Florida with an airlift after Hurricane Ian blew through. AP
  • A satellite view taken by imaging company Planet Labs shows damage inflicted on an island in the Sanibel Causeway in Florida by Hurricane Ian. AP
    A satellite view taken by imaging company Planet Labs shows damage inflicted on an island in the Sanibel Causeway in Florida by Hurricane Ian. AP
  • A combination of satellite images from Maxar Technologies shows San Carlos Boulevard in Fort Myers Beach, Florida, on August 17, top, and after Hurricane Ian, bottom, on September 30. AFP
    A combination of satellite images from Maxar Technologies shows San Carlos Boulevard in Fort Myers Beach, Florida, on August 17, top, and after Hurricane Ian, bottom, on September 30. AFP
  • Householder John Quigley carries a piece of artwork made by his daughter, the only item he found to salvage from the ruins of his home after Hurricane Ian, as he pulls his girlfriend's son Sebastian in a cart in Fort Myers Beach, Florida. AP
    Householder John Quigley carries a piece of artwork made by his daughter, the only item he found to salvage from the ruins of his home after Hurricane Ian, as he pulls his girlfriend's son Sebastian in a cart in Fort Myers Beach, Florida. AP
  • Fort Myers Beach in Florida after Hurricane Ian. AP
    Fort Myers Beach in Florida after Hurricane Ian. AP
  • Clean-up at a restaurant in Georgetown, South Carolina, close to where Hurricane Ian made landfall on September 30. Reuters
    Clean-up at a restaurant in Georgetown, South Carolina, close to where Hurricane Ian made landfall on September 30. Reuters
  • Debris from beachfront homes and businesses covers a road after Hurricane Ian hit Fort Myers Beach in Florida. AP
    Debris from beachfront homes and businesses covers a road after Hurricane Ian hit Fort Myers Beach in Florida. AP
  • Rescuer Eduardo Tocuya hopes to reunite a dog with its owners after Hurricane Ian hit Fort Myers Beach in Florida. AP
    Rescuer Eduardo Tocuya hopes to reunite a dog with its owners after Hurricane Ian hit Fort Myers Beach in Florida. AP
  • The Matlacha Isles west of Fort Myers in Florida after Hurricane Ian made its mark. EPA
    The Matlacha Isles west of Fort Myers in Florida after Hurricane Ian made its mark. EPA
  • A damage survey party at work after Hurricane Ian hit Fort Myers Beach in Florida. AP
    A damage survey party at work after Hurricane Ian hit Fort Myers Beach in Florida. AP
  • Residents of Fort Myers Beach in Florida pick up the pieces after Hurricane Ian blew through. AFP
    Residents of Fort Myers Beach in Florida pick up the pieces after Hurricane Ian blew through. AFP
  • The collapsed Sanibel Causeway in the aftermath of Hurricane Ian in Sanibel, Florida. AFP
    The collapsed Sanibel Causeway in the aftermath of Hurricane Ian in Sanibel, Florida. AFP
  • People clear debris in the aftermath of Hurricane Ian in Fort Myers Beach, Florida. AFP
    People clear debris in the aftermath of Hurricane Ian in Fort Myers Beach, Florida. AFP
  • Robert Leisure on what was the second floor of his business premises in the aftermath of Hurricane Ian in Fort Myers, Florida. AFP
    Robert Leisure on what was the second floor of his business premises in the aftermath of Hurricane Ian in Fort Myers, Florida. AFP
  • People clear debris in the aftermath of Hurricane Ian in Fort Myers Beach, Florida. AFP
    People clear debris in the aftermath of Hurricane Ian in Fort Myers Beach, Florida. AFP

Mr DeSantis also praised the Federal Emergency Management Agency (Fema) for its management of the situation before the Category 4 hurricane struck.

“I will say, from local, state co-ordination and Fema — there’s been less bureaucracy holding us back in this one than probably any one I’ve ever seen,” he said.

After the storm passed, satellite images revealed the extent to which Fort Myers and Fisherman's Wharf had been damaged. The beach's pier was destroyed, houses were flattened and the once vibrant beach became a wasteland, its crystal-blue waters turning a dark brown.

Hurricane Ian could be the costliest storm in the state's history, catastrophe modeller Karen Clark & Company projected.

ELECTION%20RESULTS
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Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

How Islam's view of posthumous transplant surgery changed

Transplants from the deceased have been carried out in hospitals across the globe for decades, but in some countries in the Middle East, including the UAE, the practise was banned until relatively recently.

Opinion has been divided as to whether organ donations from a deceased person is permissible in Islam.

The body is viewed as sacred, during and after death, thus prohibiting cremation and tattoos.

One school of thought viewed the removal of organs after death as equally impermissible.

That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.

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Biog

Age: 50

Known as the UAE’s strongest man

Favourite dish: “Everything and sea food”

Hobbies: Drawing, basketball and poetry

Favourite car: Any classic car

Favourite superhero: The Hulk original

If you go

The flights

There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.

The trip

Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.

The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.

 

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.”

The specs: 2018 Mercedes-Benz S 450

Price, base / as tested Dh525,000 / Dh559,000

Engine: 3.0L V6 biturbo

Transmission: Nine-speed automatic

Power: 369hp at 5,500rpm

Torque: 500Nm at 1,800rpm

Fuel economy, combined: 8.0L / 100km

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Updated: October 05, 2022, 9:32 PM