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World Bank Estimates Five Years to Rebuild Japan Posted: 21 Mar 2011 03:24 AM PDT The most devastating earthquake followed by tsunami has hit Japan on March 11, 2011 to bend to get crumbled. The 9.0 magnitude of the disaster was followed by a number of explosions and loss of people and detriment of thousands of buildings. The World Bank has estimated the span of five years in order to rebuild Japan. As reported by the bank, the tsunami and earthquake that hit Japan costs $235 billion that compares 4% of Gross Domestic Product. The Washington based lender's staff has stated that if history is compared to guide, the real gross domestic product growth will be negatively affected through the 2nd quarter of 2011. They stated that though the growth of Japan is initiated by the reconstruction efforts, the complete acceleration comes in five years. With respective to the disaster, the Fukushima Nuclear Power Plant is spreading the radioactive contamination to the Japanese people. However, the cooling techniques were introduced cool the nuclear reactors. The officials' of the nuclear plant has stated that they were spraying water from the fire engines to cool the Reactor 4 at the crippled facility. The pressure in Reactor-3 has spiked and later the pressure was stabilized, the venting plan was cancelled. The Engineers have attached a power cable to the outside of the plant in the primary step to stop the radiation spread. The news agencies were not informed the status of the updating the plan in order to restore the power at Reactor-1 and Reactor-2. However, the Chief Cabinet Secretary, Yukio Edano said that there will be additional ups and downs in this kind of situation and will continue for a while. The staff officials of the World Bank estimated the damage shaped at $122 billion to $253 billion. The bank reported that the major loss is likely to the electronics and the automotive industries and is probable to have a modest short-term impact on the region with accordance to the trade and investment flows. The 1995 Kobe earthquake and its consequences help to gauge events that follow the earthquake on March 11. The Policemen reported that more than 8400 people died and 13000 are still missing that triggered a nuclear crisis in Japan. The World Bank said that the private insurers are likely to bear a relatively little portion of the cost and there by leaving a substantial part to be borne by the households and the government. It estimated that the cost may range from $14 billion to $33 billion. It concluded that the exchange market intervention has limited the extent to which the nominal exchange rates across the region have strengthened. However, this has the large offset by the higher inflation. |
Yuvraj, Zaheer Drives India to Victory Posted: 21 Mar 2011 03:24 AM PDT The last match of the preliminary stage between India and West Indies in the MA Chidambaram Stadium at Chennai has seen India won the game by Yuvraj Singh's century and Zaheer's bowling attack. The game has kept on changing respectively with the bowling attack by India, who came up with seven bowlers including two pacers and two spinners and three part-time spinners. India has won the toss and elected to bat. India has given rest for Virender Sehwag along with pacer Ashish Nehra and has picked up Suresh Raina and spinner Ashwin into the attack on West Indies. India has started their batting by opening of Sachin Tendulkar and Gautam Gambhir. West Indies struck early in the last ball of the first over by dismissing Sachin with the short ball that straightened likely outside off by Ravi Rampaul. The umpire ruled as not out, but Sachin started walking out of the ground. Virat Kohli joined Gambhir and the two made a good partnership of 43 runs. Gambhir added 22 to his score and was dismissed by Rampaul with the help of Russell taking a wonderful catch. Yuvraj Singh, who has been in a better form and scored three half centuries in this ICC World Cup 2011 has proved again that he can be the match winner. The third wicket partnership has moved to 122 till Virat was sent away Rampaul. It has been a good score when Virat was dismissed. Dhoni joined Yuvraj and helped him in making the splendid century. This is the first century of Yuvraj in ICC World Cup tournament. Dhoni was stumped at 22 and very soon, the next batsman, Suresh Raina has not spent much time with Yuvraj and was dismissed by scoring four runs. Unfortunately, Yuvraj was caught and bowled by Pollard just before taking power play. India again was troubled in the batting power play and hardly scored 28 runs by loosing four quick wickets. Ravi Rampaul has bagged 5 wicket haul for 51 runs in his complete spell. Russell managed to take two wickets where as Sammy, Bishoo and Pollard took one wicket each. India managed a good total of 268 runs in 49.1 overs. Dhoni introduced Ashwin for the bowling attack and has made a successful one when he dismissed Edwards for a leg before wicket. After loosing Bravo in the seventeenth over by Raina, West Indies kept going forward with good run rate. The innings turning point was made by Zaheer Khan when he bowled Smith for 81 runs. Sarwan managed to stay for longer time in the pitch. The remaining batsmen were dismissed one after other with low scores by the Indian bowlers. Zaheer took the wickets of Smith, Benn and Sarwan. Yuvraj done again a good thing with the ball by taking two wickets that include Thomas and Russell. Where as, Harbhajan Singh and Raina managed to take one wickets each, the innings was completed with Ashwin when he bowled off Rampaul. India won by 80 runs and as expected, Yuvraj Singh was awarded as the Man of the Match for scoring 113 runs and taking two wickets. India will meet Australia on 24th March, 2011 at Ahmadabad for the quarter finals of the ICC World Cup 2011. |
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