INSEAD Day 4 - 728x90

Sanad posts record revenue

Growth driven by global demand for services.

Bank of Sharjah profit up 39%

Bank's total assets grow 10% to $14.4 billion.

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

Turkey starts rebuilding for the 1.5 million earthquake homeless

The massive 7.8-magnitude quake on February 6 has killed more than 45,000 people in Turkey and more than 5,000 in Syria. (AFP)
  • More than 160,000 buildings containing 520,000 apartments collapsed or were severely damaged in the February 6 earthquakes
  • Turkish President Tayyip Erdogan who is facing election within months has pledged to rebuild homes within a year

Ankara, Turkey – Turkey has begun work to rebuild homes following this month’s devastating earthquakes, an unnamed government official said, quoted by Reuters. 

Over 50,000 people have been killed in the earthquakes in Turkey and Syria.  .

More than 160,000 buildings containing 520,000 apartments collapsed or were severely damaged in the February 6 earthquakes..

Turkish President Tayyip Erdogan who is facing election within months has pledged to rebuild homes within a year. 

The Turkish government’s initial plan now is to build 200,000 apartments and 70,000 village houses at a cost of at least $15 billion, the official told  said. 

US bank JPMorgan has estimated rebuilding houses and infrastructure will cost $25 billion.

According to the UNDP estimate, the destruction has left 1.5 million people homeless, with 500,000 new homes needed.

It said it had requested $113.5 million from the $1 billion in funds appealed for by the United Nations last week. 

The UN agency said that the disaster had produced between 116 million and 210 million tons of rubble, compared with 13 million tons of rubble after the earthquake in northwest Turkey in 1999.