it is struck by a major tsunami following a huge earthquake thousands are fleeing to higher ground as aftershocks continue to shake the country there is considerable damage and the entire pacific region is on tsunami alert. asian equity markets for dragging the region's benchmark to its biggest weekly loss sense all goes to the strong earthquake rocks japan will have more on the global markets are performing in a moment. to diffuse forces retake key areas from rebel groups while locals warn that media exaggeration is still looking for an

intervention made to feel so moving closer to libya's choice while here people are still refusing to rule out military intervention join me for you searing a few moments more. live from our studios in moscow you're watching r t thanks for joining us well we go straight to our developing a story a major tsunami has struck a northeastern japan a sending a four meter of wall of water inland which is causing widespread devastation now this tsunami was this which is currently under way was caused by eight point nine magnitude earthquake that struck about one hundred thirty kilometers off the pacific coast aftershocks have been felt within the last few minutes and so far five people are confirmed dead but that number is expected to rise as officials are

having a bit of a hard time getting exact numbers of casualties now you can see on your screen that's a huge wall of water just eating up anything in its past that's the latest pictures we're getting from of japan and it's also been reported that the first waves have reached russia's crude. real islands to the north and it's reportedly about a metre high well in japan itself two hundred people have reportedly been washed away with several others missing on japan sendai island that is on the eastern coast it closest to where the earthquake had hit the damage was also felt in tokyo a lot of fires an interest why the reports of again here are the latest pictures of the devastation caused by the actual earthquake eight point nine on the richter scale as well as the tsunami that is currently underway that is followed according to recent reports reports we're just getting into japan is also warned of an imminent strong earthquake to comment no details yet but the warning has been

issued now you're looking at an oil refinery that. is on fire and still very difficult for officials to contain the blaze this is an oil refinery in the chiba prefecture just northeast east of tokyo. officials are saying that it has been difficult to contain this fourteen industrial complexes are now on far as a result of the earthquake well of course we'll keep you updated on the devastation as the situation continues to unfold in japan well now the russian president has been giving his reaction to the tragedy dmitri medvedev is pledging support for japan saying that moscow and talk you can work together to combat this natural disaster. the commissioner. of course we're ready to help our neighbors in overcoming these pictures just of your quick state of emergency has also been declared on our shores on the cool islands in the region. the measures must also be

taken to prevent damage and loss of life that tsunami has already reached our shores and we must all be consolidated each time and now ordering the emergency as minister to present a plan of assistance to japan. plus we'll have more of that for first we'll turn to our developments in the libya where colonel gadhafi his forces are pushing rebels out of more cities and hundreds of opposition fighters are moving back after a reported attacks with rockets and tank shells are these polls there is in the capital with all the latest for us all how their poll about just update us on what is happening in the country right now. well after a week of heavy fighting in least a teacher can eat well in fourteen town as a real rebels there have finally been overthrown by gadhafi is from this is the latest reports we have from the town is that the city center is quiet that most people have deserted their homes and that gadhafi troops are now moving from house

to house carrying out a race at the same time the other focal point of the hill to city of ras lanuf according to libyan state television to quote him the city has been cleansed of al qaida supporters for several days now gadhafi as well things have been pounding in particular residential areas in the east but the latest reports coming out from there that japanese forces are in control there too now here on the ground while it certainly does seem as if gadhafi is men are pushing back and winning the battle here on the international stage it's the rebels who are really coming out in the front today the e.u. ministers will be meeting in brussels they will be discussing an international response whether or not to go ahead with some kind of no fly zone some kind of a foreign intervention was a meeting its will. defense ministers they did agreement that they needed to be more work done before a no fly zone could be implemented and of course and no fly zone is something that moscow does not support but it is something that is being pushed

a particularly by france and by britain just yesterday france was the first country in the international community to officially recognize the rebels as the voice of the libyan people the legitimate voice of the libyan people as you can imagine this is angered people here particularly in tripoli we have been speaking to people they are confused and they are angry with the international community's response three dutch marines who've been missing for quite some time now have finally arrived safely in athens the two men and the one woman were captured by libyan forces after a botched in becky ration mission now the latest report from the international red cross is that the country is in the midst of a civil war but again speaking to people here moving around you so they don't get that sense on the ground and many libyans that i've been talking to make the point that the foreign media tends to exaggerate the situation often putting drama ahead of reality let's take a look at. this piece. of the paper it's kind of

the fog of it. it's. just not is people are straight. just as the country of iraq let's. just start it seems to think that there have been several hundred people killed but that's not a huge level of violence and certainly isn't a global level of violence that would normally merit intervention. but it's the capital it's still under way of the opposition but it's actually strongholds proper time for it was the big stick because precious rebels like to correct me if it's not the media. it's going to the places and. the cities are controlled by the bridges and then given

the people they're free become. what they think and what they believe and maybe just. maybe when in the middle east information here which i just asked actually known as. getting angry i look at this. right from. normal normal life and life. on the streets. yes. there are events unfolding right now in ivory coast where there is a conflict an armed conflict between rebels and the government but nobody seems to be thinking about it it's only because fresh and blue tension is focused on libya the only reason urges to do with libya is bad for your oil you'd think we'd be in

iraq if the major war there was broccoli. it's just it's. not chance. well let's go back to our developing story that we're covering in the northeastern part of japan a tsunami of water surged into the region now this tsunamis of course the results of the eight point nine earthquake that hit around two forty six local time in japan and the government has confirmed five deaths with that number expected to rise again as the tsunami as you can see on your screen is just eating up anything that's in its path it was caused by an eight point nine magnitude earthquake while the epicenter was one hundred thirty kilometers off of japan's a pacific coast. wave has also reportedly reached russia's real islands to the north where the graves are around a meter high and in japan

a four meter wave swept into the miyagi prefecture and golfing cars buildings and ships we had been getting a dramatic pictures from the area according to the government five people are known to have died while two hundred others were reportedly washed away of course the death toll is expected to rise as they are still having difficulty reaching the quake hit areas there are several others are missing on japan sendai island just to remind you that is the coastal area of japan closest to the epicenter of the quake . there are about fifty fires along the coastline and around four million homes are without power at the moment according to japan's prime minister and multiply and he had given a speech earlier he said emergency response team is being assembled to tackle disaster it's been a very difficult for officials as they've reported because communication has been crippled the international airport has been

a close since the earthquake russia's president has said that the country is ready to help japan and you'll be catastrophe let's remember that russia's karylle islands also is on a tsunami warning with waves there already being reported to be about a meter high and of the entire pacific region is on a tsunami alert we have why braced to be hit within the next few hours. ok well of course the tragedy in japan is impacting on stock markets as well let's get the details of. our chief business desk kareen i think you just tell us well what is the impact of the quake the stock exchanges what's happening with the markets well asian stocks reacted to the earthquake obviously the region's better benchmark index dropped to its biggest weekly loss since august and we saw japanese shares for was a strong earthquake rocked the northeastern part of the country as you've just said

and the nicky ended its five dropped to its five weeks low ending one point seven percent currencies also drop the yen lost ground for going to its lowest level against the dollar in two weeks we see hong kong stocks falling as investors sold down shares across the sectors in the wake of the earthquake and japanese quake is sending aftershocks to europe and russia and russia both the indices are down at the moment europe is also falling so we'll be keeping an eye on the market's performance and we'll bring you the latest in the coming hours. ok bill thank you very much for that update corrina well let's move on now to other news european leaders will hold a second round of emergency meeting on friday to discuss the libyan crisis now they are expected to demand the resignation of colonel gadhafi who we know has ruled the country for forty two years and it follows france's official recognition of libya's opposition as well as the invitation of two anti gadhafi rebel and voice to paris

bushell is following developments between the e.u. and nato in brussels. france has officially recognized becoming the first major power to recognize libya's rebels as the legitimate rulers germany has distanced since itself from those views but there is a general falling in line with seeing here all of the major powers behind a common front italy which had been one of the most. desirous of more diplomatic talks before any military action was taken of course it's suffering from the thousands of refugees fleeing libya just across the coast of the mediterranean and it will of course suffer more if war unleashes an even worse humanitarian crisis malta is refusing to back libya's government to government and britain is calling for colonel gadhafi to stand down because that comes in the wake of a b.b.c.

team reportedly being detained and beaten by members of his regime and now we're seeing a difference of opinion here but most states are falling in line in the pretty neutral a pretty neutral but as we've seen in the polls for example in iraq when the u.s. and the u.k. which are leading this action as world want to do something pretty that's pretty much not much we can do to stop them let's listen in to the head of nato he says that their forces are on standby. it has been decided to increase their presence of. nature maritime assets in the central mediterranean these ships will improve nature oshie to ation of awareness our message today is. nature is your. nature. and nature is ready to act it's a loose presence is because you will back any decision that is supported by the un

the e.u. and nato and that is the position of the states here today also the arab league being an organization of people the backing off because the worst thing they want is for your opinion to go against any foreign military intervention of course you've got france calling for immediate strikes on colonel gadhafi held areas so the situation is moving you could quote forrest. give a let's go back to the tsunami that is sweeping through the northeast right now the government has confirmed eighteen deaths with the number expected to rise the tsunami follows the eight point nine magnitude earthquake that sent a for me to a wall of water inland across the miyagi prefecture of sensitive will destruction the two hundred people have reportedly been washed away we've seen pictures of buildings carson ships also being swept away by the raging waters several are missing on japan's sendai island that's on the eastern coast of the first wave has

also reportedly reached our russia's karylle islands to the north and it's reportedly around a meter high of just looking at the a dramatic pictures you can see the water eating up everything in its path and now there are several fars along japan's eastern calls line four million homes are without power at the moment the prime minister has ordered an emergency response team to tackle the disaster with aircraft scrambled to the worst affected area and communication has been crippled and tokyo's narita international airport has been closed now the entire pacific region is a tsunami alert with her wire brace to be hit within the next few hours. well let's go back to libya and the effects of the political turmoil there while the fighting is picking up pace leaving the country's ravaged oil industry in the firing line well both sides are striving for total control of production but

without damaging it repairable to get their way well as artie's it's on a boy who reports importers might not care who supplies the oil so long as it keeps pumping. and he says of stability in the scorching we've been desert the country's all industry that's prior to the uprising was churning out around two percent of the global oil output has also fallen victim to the unrest to brokers the last major oil facility in levy still maintaining its regular federations and sending all the world markets just last week to tankers departed from this all terminal one carrying a million barrels of oil that was bound for china and another one with six hundred thousand barrels and board is now on its way to italy keep it deep in the east to group was one of the first cities taken over by the rebels being far from the front lines sperry this facility much of the damage that has befallen similar plants in the west and allowed it to operate pretty much as normal the only visible change is

the rebels tricolor that replace the greenlee b. and flag of the guard corps because management now are of course to the opposition leaders and ghazi we are working no. i have to cross the country we see. what we would do tomorrow because. we cannot work we will be public now maybe with somebody will bomb but if i go with leaving the bank still paralyzed all buyers have to clean cash with the proceeds going directly to the opposition the plant also shifts part of its outcome to other cities controlled by the rebels meanwhile elsewhere in libya oil facilities remain a danger zone. the good afy side and rebels have said publicly they will not seek to destroy oil infrastructure the long term damage is already apparent.

on wednesday every finery in ras lanuf a focal point for us and clashes was set ablaze the two sides going to each other for the incident. and bellwether in. are crucial to export that would have made you. look you have a couple of near steel prices continue to rise across the world the libyan government is undertaking yet another attempt to pacify railing crowds i believe in ponce control is now twenty five percent cheaper. to preserve the fuel price of fuel tool fifty percent levy a sense before seventeen of a twenty cent you can sense it is really due to before the revolution the right. to today fuel was never particularly expansive in libya with exports accounting for more than eighty percent of the country's normal oil output they did i think governments could afford lavish subsidies but they for in the mainly western

companies pumping money in have law hatched on this the billing of believe in regime and now stand to lose out leave it to produce between one point six one point seven million barrels of oil a day and most of it goes to europe these are processed in big refineries were great in winning run but as we go to cities are under siege at least one million barrels of oil will be out of the market starting this week so that's why the u.s. and europe are still best lead be an oil is low in sulfur and she makes it highly valued in the west because the fuel produced from it pollutes less and it's these light and so we don't well that for decades kept western companies on sweet terms with to get off a regime environmentally conscious politically nonchalant. our. he broke libya. let's go back to our developing story

a major tsunami has struck the northeastern japan sending a foreign wall of water inland which is causing widespread devastation nami which is currently under way was caused by an eight point nine magnitude earthquake that struck about one hundred thirty kilometers off the pacific coast several aftershocks have been felt since and so far eighteen people are confirmed dead but that number is expected to rise as the first wave has also reached russia's carrillo i was at a north reportedly with waves around a metre high interest had a two hundred people have reportedly been washed away several others missing on japan's sendai island that is the part of the island on the east that's closest to the epicenter the damage was also felt in tokyo the capital with parson injuries widely reported and international airport has been shut down well there is

currently a tsunami warning for the entire pacific region with hawaii preparing to be struck by a destructive wave within the next few hours. of course we will update you on the devastation of what's going on just a quick look at some pictures from the actual quake while it was happening now we have a spoken to the head of the russian this is mall of the station located just over one hundred miles from the japanese shore. god gave us his assessment of the situation on the ground. there have been sure all shocks with a magnitude six points and now the tremor becoming weaker although just now we've registered a six point two shock to the east of a lot of aftershocks are coming from that area luckily they're not so powerful we had that you could teach in this region is going to subside. in the next few hours . well let's quickly go back to libya now of the covering the conflict with

we have former u.s. process full advisor paul craig roberts is saying that france would not be supporting intervention in libya without support from washington but they wouldn't come in without permission in washington. least for the program nato the united nations. the united states and. the world is usually when they say that they want to. help libyans and have a no fly zone here at the relief of what is the real agenda because they don't show . compassion for afghans or iraqis actually. where we actually could do something about it and it's the united states inflicting the damage so if they haven't any compassion for those people why do they have for the libyans what rebels need or weapons and surface to air missiles and once they

have that. it will fail and so we don't need a no fly zone or american troops. to stay with our continuing coverage of the conflict in libya as well as the tsunami caused by the earthquake in japan but first let's go to the of business desk with kareena. i will continue business here in r.t. and we start with our top story a powerful earthquake in japan has sent out the shocks to the region's equity markets now let's look at something with the asian stocks fall to a greatest weekly loss since august japanese stocks go with losses deepening in the final minutes of trading following reports of the quake the benchmark nicky ended a five week losing one point seven percent began also lost ground reacting it's

reaching its lowest level in two weeks against the dollar following reports of a tsunami hong kong stocks extend their fall as investors sold out shares across sectors in the wake up wake and europe stock markets also reacting news of japan's earthquake trading lower markets are also weighed by tensions in libya is also still putting pressure on the stocks. here in russia the r.t.s. is lower for the third day retreating point seven percent of the start of the trading gas bombs burbank and noise calling them isaacs is losing less than half a percent. or price is sliding are weak economic data from the u.s. and china as well as fresh concerns over european debt brands plan is trading at one hundred thirteen dollars a barrel b.w.i. is at one hundred and one dollars per barrel. now for more on how the world markets are reacting to the earthquake in japan and i'm joined by our own from singapore by angie financial markets chief economist timothy condon hello

timothy can you explain to us how all this is affecting asian and european markets . well it's a pretty simple really markets of. the uncertainty of the about damage from the quake in japan by doing what they usually do when there is uncertainty they see the sell off sharply and. i would highlight that the. squad that virtually all of its initial depreciation depreciation immediately follow the news of the earthquake it's it's back where it was before that at this point and i guess that's what we can expect from for the year to happen in the case of the knee jerk reactions to the earthquake that we've seen in the equity markets and what will happen do you think for the nikkei when it opened themselves on monday. we'll have a. long weekend to assess the damage and see whether or not the huge falls that we

see in. immediately following the news of the earthquake are justified i imagine that. will be a good reaction to the extent of the damage you will see the system i suppose we'll see construction companies and the like actually rallying on the on monday. provided the market opens which i expect they will but. i think you on monday a pretty good reaction of about the extent of the damage and who the winners who the losers from from the quake are going to you've just mentioned the yen and we've always seen the end fall against the dollar significant lee how significant will this affect to be on the japanese consul general thanks. the terms of the extent of the damage if it is a lot worse than. what now appears to be the case and there's scope for the un to move lower and i would expect for use in. tokyo the banks in particular would look

at what their counterparts in new zealand did this week and provide considerable the clarity to the market and then that would usually be associated with the weakening of the currency obviously this is all contingent on the system and of the the damage and how much is needed i would highlight. after the kobe earthquake. in the mid ninety's the bank of japan did not did not he's did not cut interest rates at the time so they are fairly stingy central bank and if things are bad. conditions in the economy are really tired and no doubt they will go to the right bank and how long will it take for the markets to restore after the fact that. the . dollar yen exchange was back where it was thought that if the source of the

dollar. so. that it was a short lived impact on the four exchanges the stock market's obviously close now and i think on monday given the state of these losses one would expect a bounce on monday thank you timothy gordon thank you very much for this update that's all for now i will be with you in about thirty minutes from our time. download the official anti happily cation chobani phone the i pod touch from the shootouts to. life on the go. video on demand parties money fuel costs and r.s.s. feeds now with the palm of your.