A massive earthquake with a magnitude of near-9 on the Richter scale has been registered off the northern coast of Sumatra in Indonesia.
Financial television station CNBC initially reported the earthquake at 8.7 but has since revised it to 8.9. However, the US Geological Survey (USGS) has downgraded its initial estimate of 8.9 to 8.6.
The Pacific Tsunami Warning Centre has declared a tsunami warning for the region.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"[The] early warning system is working well," according to Indonesian President Susilo Bambang Yudhoyono.
He is currently meeting UK Prime Minister in the capital Jakarta where the earthquake was not felt. "Britain of course stands ready to help if help is required. We will stand with you and your government and your people at this time of worry," Cameron told Yudhoyono.
BC
-
Best-performing funds and investment trusts in stocks and shares ISAs of all timeAs ISAs celebrate their 26th birthday, we reveal the best-performing funds and investment trusts since stocks and shares ISAs launched in April 1999, and how much they would be worth today
-
Dividends: Reliability in uncertain timesDividends have formed over half of the total return of the UK market over the last 20 years. Dividend strategies have been under-appreciated while investors have focused on US mega cap technology. Income strategies may have more appeal in a tougher investment climate
