A magnitude-7.1 earthquake has shaken southern Chile, frightening hundreds of people who fled for higher ground fearing it could generate a tsunami like the one that ravaged the coastline last year.
Latin America and the Caribbean face potentially crippling economic and social costs from natural disasters and need to do more to reduce risks and prepare government finances to respond to eventual catastrophes, says a new set of indicators by the Inter-American Development Bank (IDB).
Chilean fishermen are still feeling the effects of the Feb. 27 earthquake. Infrastructure damage from the earthquake has forced more than 200 fishermen to relocate from the city of Lebu near Concepcion to the port of Coquimbo, a city to the north.
Nearly five months after the Feb. 27 earthquake in Chile, the cities of Talca and Curicó, two of the hardest hit areas have begun the first steps to rebuild their historic centres, which together account for almost 364 blocks of severely damaged landscapes.
Chilean Navy Commander in Chief Edmundo Gonzalez announced this week that the institution will be spending around 10 million US dollars on new, state of the art communications equipment for its SHOA (Hydrographical and Oceanographic Service) office.
Construction activity increased for the first time since December 2008, according to the Monthly Construction Activity Index (Imacon) released by the Chilean Chamber of Construction this week. The Index shows an increase of 1.4% from March 2009 to March 2010, reflecting a rise in employment and demand.
The Chilean territory expanded 1.2 square kilometres into the Pacific following the February earthquake that ravaged the centre and south of the country, according to Sergio Barrientos, head of the University of Chile Seismologic Institute.
LAN (NYSE: LFL), Chile's dominant airline and flag carrier, announced Thursday it would invest 2.83 billion US dollars between 2010 and 2013 to expand its fleet. CEO Jorge Awad told a shareholder meeting the company would invest 500 million USD in 2010 and 1 billion USD in 2011 to purchase both short and long-haul aircraft.
The University of Chile reported Monday a Santiago unemployment rate of 10.8%. While this is higher than what it was before the international recession (when it stood at around 8%), it is two percentage points less than what it was in March of 2009.
If a senior Iranian cleric is to be believed, the 6.9 magnitude earthquake in Taiwan was a boobquake, not an earthquake. Hojatoleslam Kazem Sedighi warned last week that “women, who do not dress modestly... lead young men astray, corrupt their chastity and spread adultery in society, which [consequently] increases earthquakes”.