More than 200 killed as strong quake rocks Iran-Iraq border

Agencies
November 13, 2017

Tehran, Nov 13: More than 200 people were killed and hundreds more injured when a 7.3-magnitude earthquake shook the mountainous Iran-Iraq border triggering landslides that hindered rescue efforts, officials said Monday.

The quake hit 30 kilometres (19 miles) southwest of Halabja in Iraqi Kurdistan at around 9.20 pm (1820 GMT) on Sunday, when many people would have been at home, the US Geological Survey said.

On Monday morning, Iran gave an provisional toll of more than 200 dead, while only six others were reported killed on the Iraq side of the border.

"There are 207 dead and around 1,700 injured", all in Iran's province of Kermanshah, Behnam Saidi, the deputy head of the Iranian government's crisis unit set up to handle the response to the quake, told state television.

Mojtaba Nikkerdar, the deputy governor of Kermanshah, said authorities there were "in the process of setting up three emergency relief camps".

Iran's emergency services chief Pir Hossein Koolivand said it was "difficult to send rescue teams to the villages because the roads have been cut off... there have been landslides".

The official IRNA news agency said 30 Red Cross teams had been sent to the quake zone, parts of which had experienced power cuts.

In Iraq, officials said the quake had killed six people in the northern province of Sulaimaniyah and injured around 150.

Footage posted on Twitter showed panicked people fleeing a building in Sulaimaniyah, as windows shattered at the moment the quake struck, while images from the nearby town of Darbandikhan showed major walls and concrete structures had collapsed.

In Sulaimaniyah, residents ran out onto the streets and some damage to property was reported.

"Four people were killed by the earthquake" in Darbandikhan, the town's mayor Nasseh Moulla Hassan said.

A child and an elderly person were killed in Kalar, according to the director of the hospital in the town about 70 kilometres (40 miles) south of Darbandikhan, and 105 people injured.

The quake, which struck at a relatively shallow depth of 25 kilometres, was felt for about 20 seconds in Baghdad, and for longer in other provinces of Iraq, AFP journalists said.

On the Iranian side of the border, the tremor shook several cities in the west of the country including Tabriz.

It was also felt in southeastern Turkey, "from Malatya to Van", an AFP correspondent said. In the town of Diyarbakir, residents were reported to have fled their homes.

The quake struck along a 1,500 kilometre fault line between the Arabian and Eurasian tectonic plates, a belt extending through western Iran and into northeastern Iraq.

The area sees frequent seismic activity. In 1990, a 7.4-magnitude quake near the Caspian sea in northern Iran killed 40,000 people and left 300,000 more injured and half a million homeless. Within seconds the quake reduced dozens of towns and nearly 2,000 villages to rubble.

Thirteen years later, a catastrophic quake struck the ancient southeast Iranian city of Bam, famed for its mud brick buildings, killing at least 31,000 people and flattening swathes of the city.

Since then, Iran has experienced at least two major quake disasters, one in 2005 that killed more than 600 and another in 2012 that left some 300 dead.

More recently, a 5.7-magnitude earthquake near Iran's border with Turkmenistan in May killed two people, injured hundreds and caused widespread damage.

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News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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Agencies
May 19,2020

Washington DC, May 19: US President Donald Trump has threatened to permanently halt funding for the World Health Organisation (WHO) if it did not commit to improvements within 30 days, and to reconsider the membership of the United States in the global health body.

On Monday, Trump wrote a letter to WHO Director-General Tedros Ghebreyesus that read, "If WHO doesn't commit to major substantive improvements within the next 30 days, I will make my temporary freeze of US funding to WHO permanent and reconsider our membership in the organisation."

Trump had temporarily suspended US' contribution to the WHO last month, accusing it of promoting China's "disinformation" about the coronavirus outbreak, although WHO officials denied the accusation and Beijing said that it was transparent and open.

"The only way forward for the WHO is if it can actually demonstrate independence from China. My administration has already started discussions with you on how to reform the organisation. But action is needed quickly. 

We do not have time to waste," Trump said in the letter.

"I cannot allow American taxpayer dollars to continue to finance an organisation that, in its present state, is so clearly not serving America's interests," he added.

On Monday, the WHO said that an independent review of the global coronavirus response would begin at the earliest and it received backing from China, where the virus was first discovered.

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Agencies
March 14,2020

San Francisco, Mar 14: Microsoft on friday announced that co-founder Bill Gates has left its board of directors to devote more time to philanthropy.

The 64-year-old stopped being involved in day-to-day operations at the firm more than a decade ago, turning his attention to the foundation he launched with his wife, Melinda.

Gates served as chairman of Microsoft's board of directors until early in 2014 and has now stepped away entirely, according to the Redmond-based technology giant.

“It's been a tremendous honor and privilege to have worked with and learned from Bill over the years,” Microsoft chief executive and company veteran Satya Nadella said in a release.

Nadella said Microsoft would continue to benefit from Gates' “technical passion and advice” in his continuing role as a technical advisor.
“I am grateful for Bill's friendship and look forward to continuing to work alongside him,” he added.

Gates left his CEO position in 2000, handing the company reins to Steve Ballmer to devote more time to his charitable foundation.

He gave up the role of chairman at the same time Nadella became Microsoft's third CEO in 2014.

Regularly listed among the world's richest people, William H. Gates was a geeky-looking young man when he and Paul Allen co-founded Microsoft in 1975.

Gates went on to turn his attention from software to fighting disease and other humanitarian challenges with his wife, under the auspices of the Bill and Melinda Gates Foundation.

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