Rescuers Brave Aftershocks To Pull Bodies From Tilting Taiwan Tower

Agencies
February 8, 2018

Feb 8: Taiwanese rescuers Thursday braved aftershocks coursing through a dangerously leaning apartment block that was partially toppled by a deadly earthquake, as their search for survivors uncovered two more bodies.

At least nine people were killed when a 6.4-magnitude quake struck the popular eastern tourist city of Hualien on Tuesday, according to a revised toll from the national fire agency which also slashed the number of missing from nearly 60 people to 10.

The powerful tremor left a handful of buildings badly damaged -- some of them leaning at precarious angles -- as well as roads torn up and hundreds forced to shelter in local schools and a stadium.

The major focus for emergency responders remained the Yun Tsui apartment block where six of the deaths occurred and the remaining 10 missing people are believed to be.

The lower floors of the 12-storey tower -- which also housed a hotel -- pancaked, leaving the structure leaning at a fifty-degree angle and sparking fears of an imminent collapse.

Despite those risks rescuers kept going into the building in a desperate search for survivors. But Thursday's search only recovered two bodies -- a Chinese mainland tourist and a hotel worker.

Strong aftershocks continued to strike, sending the teams scurrying from the building, only for them to return a little later and resume their grim task.

An emergency responder surnamed Lin said it took 14 hours to free the body of the hotel worker, who was partially trapped between the hotel's ceiling and floor.

"We saw his hair and were digging for some time," he said.

All the while they could hear the victim's mobile phone ringing, he added. The man was later brought out in a white body bag.

A Red Cross worker at the scene estimated that the building had tilted another five percent overnight, adding he had little hope of survivors being found on its lowest floors.

"Floors one to three are all compressed so it's hard to tell whether there are people," he told AFP, requesting anonymity.

He said that there was no risk of a gas explosion in the building but the aftershocks and further slippage remained a persistent danger.

Popular tourist spot

The national fire agency said three of those killed were Chinese nationals from the mainland. All were believed to be staying at the Beauty Stay Hotel, which was located on the second floor of the apartment block.

Of the 10 people registered as missing, seven are believed to have been staying at the hotel, the remaining three are from residential apartments in the same building.

Hualien is one of Taiwan's most popular tourist destinations as it lies on the picturesque east coast rail line and near the popular Taroko Gorge.

But the mountains that rise up behind the city -- and bestow Taiwan's east coast with such majestic beauty -- are a testament to the deadly tectonic faultlines that run through the island.

The government said 17 foreigners sought medical treatment for minor injuries.

Local broadcaster SET TV ran an interview with a man who said he was the husband of one of the mainland Chinese victims.

The woman, named as 39-year-old Yu Fei, was travelling with the couple's young son on the island. The son survived the quake with light injuries. She was pulled from the wrecked building and later died in hospital.

"They were travelling on their own as I was busy and couldn't accompany them," the man, who had rushed from the Chinese city of Xiamen, said. "I got in touch with my son, he cried."

President Tsai Ing-wen, who on Wednesday visited survivors and the Yun Tsui apartment block, praised emergency responders.

"Rescuers on the scene and hospital staffers continue to dedicate themselves fully to the rescue works," she wrote on Facebook. "Stay hopeful and never give up."

The Hualien quake came exactly two years to the day after a similar sized tremor struck the western city of Tainan, killing 117 people.

Most of those who perished died in a single apartment block which collapsed.

Five people were later found guilty over the disaster, including the developer and two architects, for building an inadequate structure.

The island's worst tremor in recent decades was a 7.6-magnitude quake in September 1999 that killed around 2,400 people.

That quake ushered in stricter building codes but many of Taiwan's older buildings remain perilously vulnerable to even moderate quakes.

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Agencies
February 18,2020

British lawmaker Debbie Abrahams' e-Business visa was revoked as she was involved in anti-India activities and the cancellation was conveyed to her on February 14, government sources said on Tuesday.

Asserting that the grant, rejection or revocation of a visa or electronic travel authorisation is the sovereign right of a country, the sources said Abrahams was issued an e-Business visa on October 7 last year which was valid till October 5, 2020 for attending business meetings.

"Her e-Business visa was revoked on February 14, 2020 on account of her indulging in activities which went against India's national interest. The rejection of the e-Business visa was intimated to her on February 14," a source said.

Abrahams, who chairs a British parliamentary group on Kashmir, was denied entry into India upon her arrival at the New Delhi airport on Monday.

Government officials had said on Monday also that she was informed in advance that her e-visa had been cancelled.

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News Network
March 23,2020

Singapore, Mar 23: Oil prices fell at the open in Asia on Monday after a trillion-dollar Senate proposal to help the coronavirus-hit American economy was defeated and death tolls soared across Europe and the US.

US benchmark West Texas Intermediate initially tumbled more than three percent but then pulled back some ground to trade 1.5 percent lower, at $22 a barrel.

Brent crude, the international benchmark, fell 4.9 percent to $25 a barrel.

Prices have fallen to multi-year lows in recent weeks as lockdowns and travel restrictions to fight the virus hit demand, and top producers Saudi Arabia and Russia engage in a price war.

The latest drop came after a trillion-dollar Senate proposal to rescue the US economy was defeated after receiving zero support from Democrats, and with five Republicans absent from the chamber because of virus-related quarantines.

The bill had proposed funding for American families, thousands of shuttered or suffering businesses and the nation's critically under-equipped hospitals.

Coronavirus deaths soared across Europe and the United States at the weekend despite heightened restrictions.

The death toll from the virus -- which has upended lives and closed businesses and schools across the planet -- surged to more than 14,300 Sunday, according to an AFP tally.

AxiCorp chief markets strategist Stephen Innes said that "total demand devastation" had set it.

"Oil markets collapsed out of the gate this morning as prices react... to stringent containment lockdown measures," he said.

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News Network
April 21,2020

New York, Apr 21: Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don't want to get stuck owning crude with nowhere to store it.

Stocks were also slipping on Wall Street in afternoon trading, with the S&P 500 down 0.9%, but the market's most dramatic action was by far in oil, where benchmark U.S. crude for May delivery plummeted to negative $3.70 per barrel, as of 2:15 pm. Eastern time.

Much of the drop into negative territory was chalked up to technical reasons — the May delivery contract is close to expiring so it was seeing less trading volume, which can exacerbate swings. But prices for deliveries even further into the future, which were seeing larger trading volumes, also plunged.

Demand for oil has collapsed so much due to the coronavirus pandemic that facilities for storing crude are nearly full.

Tanks could hit their limits within three weeks, according to Chris Midgley, head of analytics at S&P Global Platts.

Benchmark U.S. crude oil for June delivery, which shows a more ”normal” price, fell 14.8% to $21.32 per barrel, as factories and automobiles around the world remain idled. Big oil producers have announced cutbacks in production in hopes of better balancing supplies with demand, but many analysts say it's not enough.

“Basically, bears are out for blood,” analyst Naeem Aslam of Avatrade said in a report. “The steep fall in the price is because of the lack of sufficient demand and lack of storage place given the fact that the production cut has failed to address the supply glut.”

Halliburton swung between gains and sharp losses, even though it reported stronger results for the first three months of 2020 than analysts expected. The oilfield engineering company said that the pandemic has created so much turmoil in the industry that it “cannot reasonably estimate” how long the hit will last. It expects a further decline in revenue and profitability for the rest of 2020, particularly in North America.

Brent crude, the international standard, was down $1.78 to $26.30 per barrel. .

In the stock market, the mild drops ate into some of the big gains made since late March, driven lately by investors looking ahead to parts of the economy possibly reopening as infections level off in hard-hit areas.

Pessimists have called the rally overdone, pointing to the severe economic pain sweeping the world and continued uncertainty about how long it will last.

The Dow Jones Industrial Average was down 364 points, or 1.5%, to 23,887. The Nasdaq was down 0.1%..

More gains from companies that are winners in the new stay-at-home economy helped limit the market's losses Amazon rose 1.4%, and Netflix jumped 3.8% as people shut in at home buy staples and look to fill their time. Clorox likewise rose toward a new record and was up 1% as households and businesses that remain open look to stay clean.

In Tokyo the Nikkei 225 fell 1.1% after Japan reported that its exports fell nearly 12% in March from a year earlier as the pandemic hammered demand in its two biggest markets, the U.S. and China.

The Hang Seng index in Hong Kong lost 0.2%, and South Korea's Kospi fell 0.8%.

European markets were modestly higher The German DAX was up 0.5%, the French CAC 40 was up 0.7% and the FTSE 100 in London gained 0.7%.

In a sign of continued caution in the market, Treasury yields remained extremely low. The yield on the 10-year Treasury slipped to 0.64% from 0.65% late Friday. It started the year near 1.90%. Bond yields drop when their prices rise, and investors tend to buy Treasurys when they're worried about the economy.

Stocks have been on a generally upward swing recently, and the S&P 500 just closed out its first back-to-back weekly gain since the market began selling off in February. Promises of massive aid for the economy and markets by the Federal Reserve and U.S. government ignited the rally, which sent the S&P 500 up as much as 28.5% since a low on March 23.

More recently, countries around the world have tentatively eased up on business-shutdown restrictions put in place to slow the spread of the virus.

But health experts warn the pandemic is far from over and new flareups could ignite if governments rush to allow ”normal” life to return prematurely.

The S&P 500 remains about 15% below its record high in February as millions more U.S. workers file for unemployment every week amid the shutdowns.

Many analysts also warn that a significant part of the recent recovery in stocks is due to the expectation among some investors that the economy will rebound sharply once economic quarantines are lifted. They're essentially predicting that a line chart of the economy will ultimately resemble the letter “V,” with a wild ride down but then a quick pivot to a vigorous recovery.

That may be to optimistic. “We caution that a U-shaped recovery is also quite likely,” where the economy bottoms out and stays at that low level for a while before recovering, strategists at Barclays warned in a recent report.

Without strong testing programs for COVID-19, businesses likely won't feel comfortable bringing back their full workforces for a while.

”With risk assets now overbought, the chance for a correction has increased,” Morgan Stanley strategists wrote in a report.

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