An aerial view of a crater left in the ground after a huge explosion rocked the Chinese port city of Tianjin on August 15, 2015. STR China Out/EPA
An aerial view of a crater left in the ground after a huge explosion rocked the Chinese port city of Tianjin on August 15, 2015. STR China Out/EPA

More blasts rock Tianjin as death toll from Chinese disaster climbs to 104



TIANJIN, China // More explosions and fires rocked the Chinese port city of Tianjin on Saturday, as another survivor was recovered and authorities ordered evacuations to clean up chemical contamination more than two days after a fire and a series of blasts set off the disaster.

Meanwhile, angry relatives of firefighters missing in the catastrophe stormed a government announcement to demand information on their loved ones.

The death toll in Wednesday’s inferno and blasts that devastated industrial and residential zones climbed to 104, the Xinhua state news agency said late on Saturday. Authorities earlier said that 21 firefighters were among the dead, making the disaster the deadliest for Chinese firefighters in more than six decades.

An unknown number of firefighters remain missing, and 722 people have been hospitalised following the rapid succession of explosions that began with a fire from shipping containers containing hazardous material at a warehouse. Fifty-eight people are in a critical or serious condition, according to rescue headquarters.

Authorities on Saturday pulled one survivor from a shipping container, state media reported. His identity was not immediately known.

The government set up a no-go area within 3 kilometres of the explosions to clean up chemical contamination from sodium cyanide, according to media reports. Sodium cyanide is a toxic chemical that becomes combustible on contact with water or damp air.

Flames could be seen on Saturday, while explosions were reported by witnesses and state media. In one case, heavy smoke from a fire engulfing several cars rose as high as 10 metres, accompanied by at least five explosions.

Police and military personnel manned checkpoints on roads leading to the blast sites, and helicopters in the overcast sky.

The air had a metallic chemical smell and there was uneasiness over rain forecasts,

although it was warm and windy.

Meanwhile, family members of missing firefighters disrupted the latest news conference, demanding to know the fate of their loved ones.

“[The authorities] didn’t notify us at all,” said Liu Huan, whose son Liu Chuntao has been missing since late on Wednesday. “Our son is a firefighter, and there was a team of firefighters who lost contact. We couldn’t contact him.”

Liu Longwang said she had not heard any word of her son Liu Ziqiao, also a firefighter. “We are extremely worried,” she said. “He’s just turned 18.”

State media reported that the casualties of the first three squads of firefighters to respond and of a neighbourhood police station have not yet been determined, suggesting that the death toll could go up.

Tianjin fire chief Zhou Tian said on Friday that the explosions occurred just as reinforcements had arrived on the scene and were getting to work.

One bright moment, however, came on Friday morning, when Zhou Ti, a 19-year-old fireman, was pulled from the zone and taken to a hospital.

Li Yonghan, a doctor at Teda Hospital, called Mr Zhou’s survival “miraculous” and said he escaped death mainly because he was covered by his fallen comrades. Mr Zhou had massive injuries, including burns and leg cuts.

“It was just a sea of fire,” Mr Lin said. “We were really worried that there would be a second or third explosion.”

* Associated Press, Agence France-Presse

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Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
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What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

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The details

Colette

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Our take: 3/5

Where to buy

Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com

Company Profile 

Founder: Omar Onsi

Launched: 2018

Employees: 35

Financing stage: Seed round ($12 million)

Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners

The Specs

Price, base Dh379,000
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UAE currency: the story behind the money in your pockets

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.

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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.

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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.

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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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COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

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Director: Navdeep Singh

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German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

LEADERBOARD
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