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International

Death toll surpasses 11,000 after Turkey, Syria earthquake

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Volunteers conduct searches in the aftermath of the Turkey-Syria earthquake

GAZIANTEP, Turkey (AP) — With the hope of finding survivors fading, stretched rescue teams in Turkey and Syria searched Wednesday for signs of life in the rubble of thousands of buildings toppled by a catastrophic earthquake. The confirmed death toll from the world’s deadliest quake in more than a decade passed 11,000.

Turkish President Recep Tayyip Erdogan toured a “tent city” in hard-hit Kahramanmaras where people forced from their homes were living. Amid calls for his government to send more help to the disaster zone, Erdogan conceded initial shortfalls in the response to Monday’s 7.8 magnitude quake but vowed that no one would “be left in the streets.”

Search teams from more than two dozen countries have joined tens of thousands of local emergency personnel on the ground in Syria and Turkey, and aid pledges have poured in from around the world. But the scale of destruction from the earthquake and its powerful aftershocks was so immense and spread over such a wide area, including places isolated by Syria’s ongoing civil war, that many people were still waiting for help.

Experts said the survival window for those trapped under the rubble of collapsed buildings or unable to access water, food, protection from the elements or medical attention was closing rapidly almost three days after the quake.

Rescuers at times used excavators in their searches and picked gingerly through debris at other points to locate survivors or the dead. With thousands of buildings toppled, it was not clear how many people might still be caught in the rubble.

Turkey’s disaster management agency said Wednesday that people who died in the earthquake but cannot be identified would be buried within five days even if they remained unnamed.

The agency, known as AFAD, said unidentified victims would be buried following DNA tests, finger printing and after being photographed for future identification.

The move is in line with Islamic funeral rites which require a burial to take place as quickly as possible after a person’s death.

In the Turkish city of Malatya, bodies were placed side by side on the ground, covered in blankets, while rescuers waited for funeral vehicles to pick them up, according to former journalist Ozel Pikal, who said he saw eight bodies pulled from the ruins of a building.

Pikal, who took part in the rescue efforts, said he thinks at least some of the victims froze to death as temperatures dipped to minus 6 degrees Celsius (21 Fahrenheit).

“As of today there is no hope left in Malatya,” Pikal said by telephone. “No one is coming out alive from the rubble.”

Road closures and damage in the region made it hard to access all the areas that need help, he said, and there was a shortage of rescuers where he was. Meanwhile, cold hampered the efforts of those who were there, including volunteers.

“Our hands cannot pick up anything because of the cold,” said Pikal. “Work machines are needed.”

The region was already beset by more than a decade of civil war in Syria that has displaced millions in that country and left them reliant on humanitarian aid and sent millions more to seek refuge in Turkey.

Turkey’s president said the country’s death toll passed 8,500. The Syrian Health Ministry, meanwhile, said the death toll in government-held areas has climbed past 1,200, while at least 1,400 people have died in the rebel-held northwest, according to volunteer first responders known as the White Helmets.

That brought the overall total to 11,000 since Monday’s earthquake and multiple strong aftershocks. Tens of thousands more are injured.

A 2011 earthquake near Japan that triggered a tsunami left nearly 20,000 people dead.

Syrian officials said the bodies of more than 100 Syrians who died during the earthquake in Turkey were brought back home for burial. Mazen Alloush, an official on the Syrian side of the border, said 20 more bodies were on their way, adding that all of them were Syrian refugees who fled civil war.

Stories of rescues continued to provide hope that some people still trapped might be found alive. A crying newborn still connected by the umbilical cord to her deceased mother was rescued in Syria on Monday. In Turkey’s Kahramanmaras, rescuers pulled a 3-year-old boy, Arif Kaan, from the rubble.

“For now, the name of hope in Kahramanmaras is Arif Kaan,” a Turkish television reporter proclaimed as the dramatic rescue was broadcast to the country.

Polish rescuers told TVN24 that low temperatures were working against them, though two firefighters said the fact that the predawn quake struck as many people were in bed under warm covers could help buy the search teams more time.

But David Alexander, a professor of emergency planning and management at University College London, said data from past earthquakes suggested the likelihood of survival was now slim, particularly for individuals who suffered serious injuries or significant blood loss.

“Statistically, today is the day when we’re going to stop finding people,” he said. “That doesn’t mean we should stop searching.”

Alexander cautioned that the final death toll may not be known for weeks because of the sheer amount of rubble that needs to be sifted.

The last time an earthquake killed so many people was 2015, when 8,800 died in a magnitude 7.8 quake in Nepal. A 2011 earthquake in Japan triggered a tsunami, killing nearly 20,000 people.

Cold weather added to the misery of residents who lost their homes. Many survivors in Turkey slept in cars, government shelters or outdoors.

“We don’t have a tent, we don’t have a heating stove, we don’t have anything. Our children are in bad shape. We are all getting wet under the rain and our kids are out in the cold,” Aysan Kurt, 27, said. “We did not die from hunger or the earthquake, but we will die freezing from the cold.”

Erdogan, on this tour of quake-hit areas, acknowledged that there were problems early on in the response but said it had improved.

He said the government would distribute 10,000 Turkish lira ($532) to affected families.

The quake comes at a sensitive time for Erdogan, who faces presidential and parliamentary elections in May amid an economic downturn and high inflation. Perceptions that his government mismanaged the crisis could severely hurt his standings.

Kemal Kilicdaroglu, the leader of Turkey’s main opposition party, blamed the devastation on Erdogan’s two-decade rule, saying he had not prepared the country for a disaster and accusing him of misspending funds.

In Syria, aid efforts have been hampered by the ongoing war and the isolation of the rebel-held region along the border, which is surrounded by Russia-backed government forces. Syria itself is an international pariah under Western sanctions linked to the war.

The European Union said Wednesday that Syria had asked for humanitarian assistance to deal with the victims of the devastating earthquake. An EU representative insisted the bloc’s sanctions against the Syrian government had no impact on its potential to help.

On Wednesday, Syrian Prime Minister Hussein Arnous visited neighborhoods in the northern city of Aleppo where buildings collapsed because of the earthquake.

“Our priority now is to rescue the people who are still under the rubble,” he said.

In rebel-held parts of northwest Syria, rescuers pulled a man, a woman and four children from the rubble in the towns of Salqeen, Harem and Jinderis, according to the White Helmets group.

The region sits on top of major fault lines and is frequently shaken by earthquakes. Some 18,000 were killed in similarly powerful earthquakes that hit northwest Turkey in 1999.


The last time an earthquake killed so many people was 2015, when 8,800 died in a magnitude 7.8 quake in Nepal. A 2011 earthquake in Japan triggered a tsunami, killing nearly 20,000 people.

Business

BVI Braces for Ripple Effects as U.S. Stock Market Sheds $5 Trillion

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In just three weeks, the U.S. stock market has lost a staggering $5 trillion in value, a downturn that could have significant implications for the British Virgin Islands (BVI), where the U.S. dollar is the official currency. As economic uncertainty grips the global financial system, concerns are mounting over how this sharp decline might impact the BVI’s economy, particularly in the areas of tourism, offshore financial services, and overall consumer confidence.

With the U.S. being the primary source of visitors to the BVI, any financial squeeze on American households could lead to a reduction in travel plans. A weaker U.S. stock market often means tighter budgets for vacationers, which could result in lower visitor numbers, reduced hotel bookings, and fewer yacht charters—critical sectors for the territory’s economy.

As one of the Caribbean’s leading offshore financial hubs, the BVI is deeply connected to global markets. A drop in stock values can shake investor confidence, potentially leading to slower financial transactions, reduced incorporations, and a cautious approach from high-net-worth individuals who use BVI-based structures for wealth management.

With the BVI using the U.S. dollar, economic shocks in the U.S. can quickly affect the cost of goods and services in the territory. A weaker U.S. market could lead to fluctuations in inflation, making imports more expensive. For a territory that relies heavily on imported goods—from food supplies to construction materials—this could put additional pressure on businesses and consumers.

The BVI government will likely keep a close watch on these developments, as a prolonged U.S. market downturn could impact tax revenues, business activity, and overall economic confidence. Policymakers may need to explore ways to strengthen economic resilience, whether through increased regional trade, diversification efforts, or measures to support local businesses in uncertain times.

While the full impact of this financial slide remains to be seen, one thing is certain: the BVI, like many other U.S. dollar-dependent economies, is paying close attention to Wall Street’s turbulence and preparing for potential economic headwinds.

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International

White Bay Beach on Jost Van Dyke Featured on MSN.com

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White Bay Beach, located on the small island of Jost Van Dyke in the British Virgin Islands, was recently featured in a travel article on MSN.com, highlighting its reputation as one of the Caribbean’s top destinations.

The article describes the beach’s white sands, clear turquoise waters, and the lively beach bars along its shore. Accessible mainly by boat, White Bay is a popular stop for yachters and day-trippers. Many visitors anchor offshore and swim to the beach to enjoy its attractions.

Among the well-known spots mentioned is the Soggy Dollar Bar, famous for creating the Painkiller cocktail, a mix of dark rum, coconut cream, and tropical juices topped with nutmeg. Other featured locations include Hendo’s Hideout, known for its Caribbean cuisine, and Coco Loco, praised for its fish tacos.

White Bay also offers activities such as snorkeling, paddleboarding, and kayaking. The coral reef just offshore is home to diverse marine life, making it a draw for water enthusiasts. Visitors looking for relaxation can also experience the Ocean Spa, which provides massages in a floating hut on the bay.

Accommodations near White Bay range from private villas to larger estates, many with ocean views. The Hideout, featuring seven villas with private plunge pools, and White Bay Villas, offering various lodging options with access to the White Bay Beach Club, were also highlighted.

The MSN.com feature showcases White Bay Beach’s combination of natural beauty and vibrant culture, reinforcing its status as a must-visit destination in the Virgin Islands.

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British Virgin Islands Weighs Tax Reforms Amid Global Compliance Push

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Photo: www.scmp.com

The British Virgin Islands (BVI), a long-standing jurisdiction for company incorporations, particularly among firms from Hong Kong and mainland China, is considering the feasibility of implementing a global minimum tax rate. The government has enlisted consulting firm KPMG to assess the impact of such a move, with findings expected next month, Premier and Finance Minister Natalio Wheatley confirmed.

The global minimum tax, set at 15 per cent, applies to multinational corporations generating at least €750 million (US$788 million) in annual revenue over two of the previous four years. Under international tax agreements, jurisdictions failing to impose the requisite tax rate may see other countries applying top-up levies on corporations operating within their borders. More than 130 jurisdictions, including the BVI and Hong Kong, have endorsed the initiative.

“Once we receive KPMG’s analysis, we will be in a position to determine whether adopting the global minimum tax is a viable course of action for the Virgin Islands,” Wheatley said.

The Premier arrived in Hong Kong on 16 February as part of an Asia-Pacific tour aimed at reinforcing the territory’s engagement with key financial markets. His itinerary included stops in Macau and Shenzhen, where he met with business leaders, industry representatives, and BVI students pursuing higher education in the region.

The BVI, a British Overseas Territory, has long been a preferred destination for company registrations due to its tax-neutral status, offering no corporate or capital gains taxes. The territory remains a major player in global finance, with approximately 375,000 active companies incorporated within its jurisdiction. Nearly 44 per cent of these are linked to Hong Kong, Macau, and mainland China, according to official figures.

The UK-based advocacy group Tax Justice Network ranked the BVI as the world’s leading tax haven as of October 2024. The group reported that nearly 2.9 per cent of multinational corporate financial activity in 2024 either originated from or flowed through the BVI.

Despite growing international scrutiny and competition, particularly from Hong Kong, Wheatley expressed confidence in the BVI’s enduring appeal to global investors. Hong Kong recently introduced regulatory reforms aimed at simplifying the redomiciliation of overseas companies, positioning itself as an alternative jurisdiction for incorporation. However, Wheatley emphasised the BVI’s well-established legal framework, experienced financial services sector, and streamlined incorporation processes.

“In the British Virgin Islands, a company can be registered within 24 hours while maintaining full compliance with international regulatory standards,” he said. “There is no need to shift from a jurisdiction that continues to meet business needs effectively.”

Meanwhile, the UK government has recommended expanding access to beneficial ownership information in the BVI beyond law enforcement agencies to parties with “legitimate purposes.” The BVI government is conducting consultations to define what constitutes a legitimate purpose, with a decision expected by June.

“We value our longstanding relationships with stakeholders in mainland China, Hong Kong, and Macau and will continue fostering an environment that supports business growth while adhering to international obligations,” Wheatley said.

The territory remains focused on balancing its economic interests with evolving global financial standards.

 

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