China’s Government: Natural Disasters Cost $3.3 Billion in First Quarter

FILE PHOTO: Paramilitary police officers remove snow from a road following snowfall in Beijing, China February 21, 2024. REUTERS/Florence Lo/File Photo
FILE PHOTO: Paramilitary police officers remove snow from a road following snowfall in Beijing, China February 21, 2024. REUTERS/Florence Lo/File Photo
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China’s Government: Natural Disasters Cost $3.3 Billion in First Quarter

FILE PHOTO: Paramilitary police officers remove snow from a road following snowfall in Beijing, China February 21, 2024. REUTERS/Florence Lo/File Photo
FILE PHOTO: Paramilitary police officers remove snow from a road following snowfall in Beijing, China February 21, 2024. REUTERS/Florence Lo/File Photo

Floods, droughts, an earthquake and freezing conditions in China caused direct economic losses of 23.76 billion yuan ($3.28 billion) in the first quarter, the government said on Saturday.

The emergency management ministry cited damage from several cold spells, a 7.1 magnitude earthquake in the northwestern region of Xinjiang, landslides in Yunnan province in the southwest and flooding on the Yellow River.

The disasters killed 79 people while 110,000 needed emergency relocation and resettlement and 10.4 million people across 26 regions and provinces were affected in the period, the ministry said in a report, according to Reuters.

Other natural disasters included a drought in the southwest affecting 424,000 hectares (10,500 acres) of crops, sandstorms in the northwest and forest fires in the southwest and south.

Last year natural disasters in China caused 345.45 billion yuan ($47.7 billion) of direct economic losses, with 691 people dead or missing, the ministry reported in January.

In January the ministry said it plans a three-year campaign to tackle problems hampering response times during disasters and accidents, including production safety lapses in sectors like mining.



Saudi ROSHN Group Reveals Rebranding

A ROSHN project in Saudi Arabia (ROSHN website)
A ROSHN project in Saudi Arabia (ROSHN website)
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Saudi ROSHN Group Reveals Rebranding

A ROSHN project in Saudi Arabia (ROSHN website)
A ROSHN project in Saudi Arabia (ROSHN website)

ROSHN Group, a pioneering real estate developer backed by Saudi Arabia’s Public Investment Fund, has introduced on Sunday a new identity and strategic focus that expands its remit to include asset classes beyond its core residential offering.
This transformation into a multi-asset developer cements ROSHN's status as a trailblazer in the real estate sector and sets the stage for an innovative approach to developing mixed-use projects and multi-asset destinations, the Group said in a statement.
It said the launch of ROSHN Group’s fresh visual identity signifies a milestone in its commitment to broadening its real estate portfolio and establishing integrated destinations that cater to society’s diverse needs.
The new portfolio will encompass ROSHN’s core asset classes of 200 million square meters of residential property, alongside over four million square meters of gross leasable area across retail, commercial, and hospitality sectors.
Its enabling assets will include education, mosques, and healthcare, while opportunity assets span transport and logistics, including warehouses, industrial parks, and knowledge hubs, as well as leisure and entertainment, ranging from entertainment centers to fitness hubs.
These projects will showcase an exceptional diversity of assets, creating investment opportunities, elevating living standards, and driving economic growth, the Group said.
“Our growing portfolio now seamlessly integrates forward-thinking amenities and elevated connectivity, fostering opportunities for commercial partnerships, job creation, investment, and economic growth in alignment with Saudi Vision 2030,” said Chief Marketing and Communication Officer Ghada Al Rumayan of ROSHN Group.
She added, “With our own evolution, this vision becomes even more tangible as we introduce our expanded approach and dedication to improving quality of life through iconic new destinations across the Kingdom.”
Al Rumayan said that ROSHN takes pride in its role as a leading real estate developer in the Kingdom with a vision to transform urban living.