NZ to provide further help for tsunami-hit Tonga

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Wellington, Jan 21 | New Zealand is giving an additional NZ$2 million ($1.35 million) in humanitarian funding for Tonga as the island nation recovers from last week’s massive volcanic eruptions and tsunami, senior officials said on Friday.

This brings New Zealand’s contribution to the Tonga disaster relief to NZ$3 million, Foreign Minister Nanaia Mahuta said in a statement.

“This support will enable more crucial supplies, such as drinking water, food supplies, as well as engineering equipment and tools to clear debris, to be sent to Tonga in the coming days and weeks,” Mahuta said.

The funding is additional to the NZ$1 million that New Zealand has already allocated as humanitarian aid, reports Xinhua news agency.

Meanwhile, Defence Minister Peeni Henare announced the HMNZS Canterbury would leave Devonport for Tonga overnight as the third New Zealand navy vessel contributed to the disaster relief.

The HMNZS Canterbury will have on board additional stores such as tarpaulins, water containers, milk powder, as well as engineering equipment to clear debris and two NH-90 helicopters, said Henare.

Deliveries will be contactless in accordance with Tonga’s Covid-19 protocols and those involved in the relief efforts undergo testing before departure, and while on deployment, he said.

Mahuta said NZ$1.5 million of the additional NZ$2 million would go towards deploying more relief supplies on upcoming C-130 relief flights, as well as water generation capability and clean-up equipment.

“This money will also fund relief activity undertaken by local authorities and humanitarian organisations, and other requests from the Tongan government as required,” said the Foreign Minister.

The remaining NZ$500,000 will go towards a New Zealand Disaster Response Partnership round for NGOs working with local partners to support Tonga’s response efforts, she said.

A Royal New Zealand Air Force C-130 Hercules carrying relief supplies landed in Tonga on Thursday and more flights are scheduled.

New Zealand’s navy ship HMNZS Wellington also arrived in Tonga and hydrographers were immediately deployed to survey approaches to Nuku’alofa.

The second ship HMNZS Aotearoa arrived and offloaded humanitarian stores on Friday. Navy divers will also be checking on the integrity of the wharf infrastructure.

Tsunami waves hit Tonga on January 15 following a series of violent volcanic eruptions from underwater Hunga Tonga-Hunga Ha’apai volcano, 65 km north of the country’s main island Tongatapu.

The tsunami had a significant impact on part of the foreshore of Tonga, with boats and large boulders washed ashore and shops along the coast damaged.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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