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Indonesia volcanic eruption kills 14, hundreds flee

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At least 14 people have been killed by the eruption of Indonesia’s Semeru volcano, according to the disaster mitigation agency.

Semeru threw up towers of ash and hot clouds that blanketed nearby villages in East Java.

The eruption severed a strategic bridge connecting the nearby district of Lumajang with the city of Malang.

Hundreds of buildings were damaged or destroyed.

BNPB official Abdul Muhari said 14 people had been killed. Ninety-eight were injured, including two pregnant women, and 1300 have been evacuated.

Other obstacles include heavy rocks and hot volcanic sediment that is limiting movement.

Emergency service footage from one village on Sunday showed a desolate scene, with roofs of houses protruding from the coat of mud that had destroyed them.

Local residents report rescue efforts are “very dire” because of the severed bridge and volunteers lacking experience.

Local people affected by the eruption of Semeru mount volcano are evacuated at Sumberwuluh village in Lumajang regency, East Java province, Indonesia, December 4, 2021, in this photo taken by Antara Foto. Antara Foto/Muhammad Sidkin Ali/via REUTERS

BNPB will rebuild the wrecked homes, and heavy equipment, including excavators and bulldozers, is being deployed, its chief said.

Indonesia President Joko Widodo has ordered authorities to find and treat victims.

Semeru started emitting hot clouds and lava flows near its rivers recently, and the country’s volcanology centre warned people not to go near it.

Indonesia’s transportation ministry says the eruption caused no disruption ton flights, though pilots have been alerted to watch out for the ash fall.

https://twitter.com/ini_pika/status/1467064685916659713?s=20

Semeru is more than 3,600 metres high, is one of Indonesia’s nearly 130 active volcanoes.

Indonesia straddles the “Pacific Ring of Fire”, a highly seismically active zone, where different plates on the earth’s crust meet and create a large number of earthquakes and volcanoes.

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Eisman identifies infrastructure as key investment opportunity

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Famed investor Steve Eisman, has shifted his focus to infrastructure, citing three main reasons.

 

The pandemic-induced shift towards onshore investment, the rise of AI necessitating data centre expansion, and the global push towards greener energy.

Eisman believes these trends offer a decade-long opportunity for investors, with Australia presenting ample opportunities for market participation.

Notable companies to consider for exposure include BlueScope and James Hardie Industries for building materials, Macquarie Technology and Goodman Group for data centres, and Worley, AGL Energy, and Origin Energy for electricity grid upgrades and green infrastructure.

However, Eisman cautions investors to approach utility investments carefully, considering their capital expenditure budgets in renewable energy and grid upgrades.

 

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Civil War cinema brings in the box office dollars

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Alex Garland’s film “Civil War” has made a significant impact at the box office, surpassing expectations with a $25.7 million opening weekend in North America.

Starring Kirsten Dunst, Wagner Moura, and Cailee Spaeny, the film explores a near-future scenario where California and Texas unite against a president’s authoritarian regime. Despite fictional elements, “Civil War” has sparked widespread discussion, with its themes resonating in today’s political climate. The film’s performance, coupled with positive reviews, suggests a promising trajectory in the coming weeks, bolstered by a relatively quiet release schedule.

You can catch the trailer here

 

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Oil likely to see hike following Iran’s Israel attack

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Global oil markets are poised for potential disruption as tensions escalate in the Middle East following Iran’s recent attack on Israel.

The attack, which targeted key infrastructure, has raised concerns about the stability of oil supplies in the region.

Experts predict that the incident could lead to a spike in oil prices as investors react to the heightened geopolitical risk. #ticker today #featured

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