CHRISTCHURCH // Two strong aftershocks have jangled nerves in New Zealand's second biggest city, where an earthquake killed 181 people and destroyed the central district six months ago.
Since the 6.3-magnitude quake on February 22, the Christchurch region has experienced more than 4,000 aftershocks, hampering the recovery effort and reinforcing uncertainty about the future.
Leanne Curtis, who lives in one of the worst affected residential areas, said: "Do you stay and keep wondering if there'll be another big one, or do you go?"
Mrs Curtis's house is one of more than 5,000 deemed uninhabitable as a result of the February quake, which liquefied the ground in suburbs east of the city centre. The government has offered to buy homes located in the "red zone", but some residents are reluctant to rebuild elsewhere, while others say they cannot afford to do so because land prices have rocketed.
A Royal Commission has been examining why so many buildings in the centre were destroyed. Nearly two thirds of people died in one office block, the Canterbury Television (CTV) building, which pancaked and collapsed in February. No one inside survived.
Among those hoping for answers is Iraqi-born Maan Alkaisi, who lost his wife, Maysoon Abbas, in the tragedy. A doctor, she was working in a clinic in the CTV building. Mr Alkaisi wants to know why she and the others died in a building only 25 years old. He said she had told him that the building felt shaky. "It was built in 1986, not 1886," he said. "We knew a lot about earthquakes at that time. For a building to collapse in such a drastic way, there must have been a drastic design failure."
Yesterday's tremors, measuring 4.0 and 4.8, came just before the first anniversary this Sunday of a 7.1-magnitude quake that caused widespread damage in Christchurch but claimed no lives. The February quake was shallower and centred closer to the city. Christchurch's mayor, Bob Parker, said it feels as if the city has been under "seismic attack" for 12 months.
Reconstruction, meanwhile, has yet to begin. In the city centre, where the most lives were lost in February, scores of buildings are still being demolished, and the entire business district remains cordoned off.
The Canterbury City Council recently released a widely praised plan for a new, lower-rise, more compact centre, but locals are frustrated by the slow place of recovery.
Roger Sutton, the chief executive of the Canterbury Earthquake Recovery Authority, said the damage wreaked by the quakes was equivalent to one-tenth of New Zealand's Gross Domestic Product. "There's nothing, really, to compare this with, because the scale of these events was so very large, and the level of destruction is so enormous."
Sue Holmes had to clean nearly a metre of foul-smelling silt out of her house after the September 4 quake, and then again in February. She lost her furniture, and most of her possessions, including treasured mementoes. With every aftershock, she panics.
"I don't think I've had a decent night's sleep for nearly a year," she said. "I keep my shoes by the bed, and even in the shower I keep my clothes in a plastic bag nearby. We've got torches all around the house, and an emergency backpack ready. We've timed ourselves, and we can grab the dogs and be dressed and out of here in less than a minute."
In Mrs Holmes's street, near the River Avon, only six of the 55 houses remain occupied. Other families have moved out because their land has liquefied so badly. "It's very quiet here now," said Mrs Holmes, who wears a fluorescent protective vest even indoors. "I miss the sound of children playing."
In the city centre, bunches of dead flowers decorate the metal fence around Christchurch's shattered core. One handwritten note states: "Happy birthday Chris, 15.5.76 - 22.2.11. Love you son. Missing you and thinking of you today and always with lots of love. Mum and Dad."
Beyond the barrier, bulldozers and lorries labour. Tourists poke their cameras through holes in the fence.
As residents weigh up whether to stay, authorities have played down reports of an exodus from the city, which has a population of 400,000. The Christchurch Press claimed last month that 26,000 had departed; the government said the figure was closer to 8,000.
Mr Parker said: "I don't believe that there's anybody who doesn't carry with them some trauma from these events. But we're still here, and we're planning for the future with strength and optimism."
He likened the reconstruction task to the rebuilding of bombed-out European cities after the Second World War. Up to 30 billion New Zealand dollars (Dh94.2 billion) will be spent over the next three to five years. It could be a decade before the commercial centre is completely rebuilt.
In the meantime, Mrs Holmes watches the earth and worries. "It's like being at war, except we're at war with the ground and we can't win."
foreign.desk@thenational.ae
The five pillars of Islam
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
COMPANY%20PROFILE
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Jebel Ali card
1.45pm: Maiden Dh75,000 1,400m
2.15pm: Handicap Dh90,000 1,400m
2.45pm: Maiden Dh75,000 1,000m
3.15pm: Handicap Dh105,000 1,200m
3.45pm: Maiden Dh75,000 1,600m
4.15pm: Handicap Dh105,000 1,600m
4.45pm: Handicap Dh80,000 1,800m
The National selections
1.45pm: Cosmic Glow
2.15pm: Karaginsky
2.45pm: Welcome Surprise
3.15pm: Taamol
3.45pm: Rayig
4.15pm: Chiefdom
4.45pm: California Jumbo
BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES
SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities
Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails
Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies
Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments
Profile Box
Company/date started: 2015
Founder/CEO: Mohammed Toraif
Based: Manama, Bahrain
Sector: Sales, Technology, Conservation
Size: (employees/revenue) 4/ 5,000 downloads
Stage: 1 ($100,000)
Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
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Starfield
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Company%20profile
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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.”
SPECS
Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now
The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
FIXTURES
Nov 04-05: v Western Australia XI, Perth
Nov 08-11: v Cricket Australia XI, Adelaide
Nov 15-18 v Cricket Australia XI, Townsville (d/n)
Nov 23-27: 1ST TEST v AUSTRALIA, Brisbane
Dec 02-06: 2ND TEST v AUSTRALIA, Adelaide (d/n)
Dec 09-10: v Cricket Australia XI, Perth
Dec 14-18: 3RD TEST v AUSTRALIA, Perth
Dec 26-30 4TH TEST v AUSTRALIA, Melbourne
Jan 04-08: 5TH TEST v AUSTRALIA, Sydney
Note: d/n = day/night
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
How to come clean about financial infidelity
- Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
- Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
- Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
- Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
- Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.
Carol Glynn, founder of Conscious Finance Coaching
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
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Company%20Profile
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The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The studios taking part (so far)
- Punch
- Vogue Fitness
- Sweat
- Bodytree Studio
- The Hot House
- The Room
- Inspire Sports (Ladies Only)
- Cryo
Simran
Director Hansal Mehta
Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey
Three stars
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
At Eternity’s Gate
Director: Julian Schnabel
Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen
Three stars
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Mohammed bin Zayed Majlis
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.