Rescuers search for survivors amid the rubble of a house in Kangdiao village after an earthquake shook Jishishan county in north-western China's Gansu province on Tuesday. AP

Earthquake kills more than 100 in north-west China



A 6.2-magnitude earthquake jolted a remote and mountainous county on the northern edge of China's Qinghai-Tibetan plateau around midnight on Tuesday, killing at least 111 people and injuring more than 230.

The quake struck Jishishan county in the country's north-western province of Gansu at 11.59pm local time on Monday at a depth of 10km, according to the China Earthquake Networks Centre.

Rescue and relief efforts are under way and a working group has been dispatched to assess the impact of the disaster, state media said, with the number of missing people in the quake's aftermath unknown.

Earthquakes are common in western provinces such as Gansu, which lie on the eastern boundary of the Qinghai-Tibetan plateau, a tectonically active area.

China's deadliest quake in recent decades was in 2008 when an 8.0-magnitude earthquake struck Sichuan, killing about 70,000 people.

The epicentre of the latest quake was 5km from the border between Gansu and a neighbouring province. Strong tremors were felt in many parts of Qinghai province, the official Xinhua news agency said.

About 2,200 rescue personnel from the provincial fire department and forest brigade, as well as professional emergency rescue teams, were dispatched to the disaster zone, Xinhua reported, adding that the military and police were also engaged in rescue work.

China's National Commission for Disaster Prevention, Reduction and Relief and the Ministry of Emergency Management have activated a "level four" disaster relief emergency, Xinhua reported.

As the disaster area is in a high-altitude region where the weather is cold, rescue efforts are working to prevent secondary disasters caused by factors beyond the quake, Xinhua said.

The temperature in Linxia, Gansu, near where the quake occurred, was about minus 14°C on Tuesday morning. Most of China is grappling with freezing temperatures as a cold wave that started last week continued to sweep through the country.

Some water, electricity, transport, communications and other infrastructure have been damaged but officials provided no further details.

Power to the quake-hit area was being gradually restored, after the state grid sent 18 emergency repair teams, state television CCTV said.

Videos and photos on social media showed rubble around collapsed buildings and residents standing in open spaces in the dark, some huddled in thick blankets.

Woken up by the quake, residents left their buildings and drove out to open areas for safety, local media outlet Jimu reported.

At a university in Gansu, students dressed in down jackets were seen lingering in groups outside their dormitory after the quake, a video posted by state-backed digital newspaper The Paper showed.

Preliminary analysis shows that the quake was a thrust-type rupture, one of three above a magnitude of 6.0 to have struck within 200km of the epicentre since 1900, CCTV said.

A total of nine aftershocks at a magnitude of 3.0 and above were recorded by Tuesday morning, two of which were at least 4.0 in magnitude, China Earthquake Networks Centre said.

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  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
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The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

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Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

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Dates: July 1-23
Distance: 3,540km
Stages: 21
Number of teams: 22
Number of riders: 198

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Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
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Starring: Helen Mirren, Ian McKellen

Directed by: Bill Condon

Three out of five stars

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Is it worth it? We put cheesecake frap to the test.

The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?

My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.

The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.

So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.

 

 

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The permutations for UAE going to the 2018 World Cup finals

To qualify automatically

UAE must beat Iraq.

Australia must lose in Japan and at home to Thailand, with their losing margins and the UAE's winning margin over Iraq being enough to overturn a goal difference gap of eight.

Saudi Arabia must lose to Japan, with their losing margin and the UAE's winning margin over Iraq being enough to overturn a goal difference gap of eight.

 

To finish third and go into a play-off with the other third-placed AFC side for a chance to reach the inter-confederation play-off match

UAE must beat Iraq.

Saudi Arabia must lose to Japan, with their losing margin and the UAE's winning margin over Iraq being enough to overturn a goal difference gap of eight.

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Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

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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.”

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