it is already a banking center in the European context, plus a clearinghouse. Also, Frankfurt has the Euro
pean central bank, which is now the regulator for all banks in Europe. So, the banks want to be closer to the major regulator,” Donoghue said.
As for asset management, insurance, and funds companies, Donoghue said, they are relocat
ing to Dublin because the city has a very broad and diversified set of capabilities in running funds and managing assets.
Andrew Pilgrim, associate partner at consultancy Ernst & Young, which is known as EY, sai
d it is probably not in the EU’s best interests to have financial services concentrated in one location.
“From policy and political perspectives, there is an argument to say that actually having a balanced financial sector across many EU jurisdi
ctions means that you have less risk concentrated in one jurisdiction,” Pilgrim said. “And it also means that you get a more balanced regu
latory and supervisory environment across all the EU member states, as opposed to all of that being focused on one.”
eceiving treatment on his face. Sang, with long bloody scars on his cheek, mouth and nose, said that he was blessed to have survived the blast that happened just 100 meters away from him.
“I was driving a car passing the explosion site and suddenly felt the car pushed away fiercely by a wave,” he said.
According to rescue headquarters, more than 1,600 houses near the explosion site have been repaired, and the
remaining houses that suffered slight damage, such as broken windows and doors, will be repaired in a week. Owners of houses beyo
nd repair will get financial compensation or move to newly-established communities.
he State Council, China’s Cabinet, set up a special investigation group for the blast. The group on Saturday said the probe wo
uld be thorough and with no leniency. It also severely criticized the local government and the company invol
ved for not learning lessons from previous environmental violations and failing to make effective rectifications.
Official records show that the Jiangsu Tianjiayi Chemical Company, where the explosion too
k place, had been punished several times previously for using safety loopholes and violating environmental prote
ction regulations. Chenjiagang Chemical Park experienced several similar safety accidents in past years, too.
gic nature of the China-Italy relations in the long term, and comp
rehensively elevate the level of their mutually beneficial cooperation, Xi said.
China is willing to enhance high-level guidance with the Italian side, respect each other
‘s major concerns, jointly build the Belt and Road, explore cooperation with third parties, boost cu
ltural exchanges and local-level cooperation, and strengthen popular support for bilateral relations, Xi said.
The Chinese president stressed that in recent years, China’s National People’s Congress and the Italian Senate have established a regular exchange mechanism.
China supports the two countries’ legislative bodies to carry out multi-level, wide-ranging and multi-channel exch
anges and cooperation, and share successful experience on major issues such as legislative supe
rvision, state governing, national economy and the people‘s livelihood, on the basis of mutual respect and mutual learning, Xi said.
ion with affected areas remains limited. On Monday, Mozambican President Filipe Nyusi said that “everyth
ing indicates that we can have a record of more than 1,000 dead” — a figure that some experts now believe could be conservative.
The mortuary at the central hospital in Beira “is full and dozens of bodies need to be
removed and handled in a dignified way,” according to IFRC. Beira is still flooded, which makes it impossible to bury bodies, IFRC said.
It is premature to say how many people have died while affected areas remain i
naccessible, Stephen Fonseca, regional forensics manager at the International Committee of the Red Cross (ICRC), told CNN.
On Friday morning ICRC set up a new base in Chimoio, near the border with Zimbabw
e. Fonseca said identifying victims is “a monumental task” that will take months or years rather than days or weeks.
”The agony of not knowing what happened to your loved one in a disaster like Cyclone Idai is
indescribable,” Diane Araujo, an ICRC delegate deployed to Beira, said in a statement Friday.