Hindu pilgrims returning on Saturday from Baltal base camp during the Amarnath pilgrimage in Kashmir. AFP
Hindu pilgrims returning on Saturday from Baltal base camp during the Amarnath pilgrimage in Kashmir. AFP
Hindu pilgrims returning on Saturday from Baltal base camp during the Amarnath pilgrimage in Kashmir. AFP
Hindu pilgrims returning on Saturday from Baltal base camp during the Amarnath pilgrimage in Kashmir. AFP

World

Indian pilgrims resume dangerous mountain journey after flash floods kill 16

Pilgrims risk their lives on journey to sacred cave 3,880 metres above sea level

Taniya Dutta
Taniya Dutta

July 11, 2022

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The Hindu pilgrimage to the Himalayan cave shrine at Amarnath Yatra in Indian-administered Kashmir resumed on Monday, two days after it was partially halted due to a cloudburst that claimed at least 16 lives.

A fresh batch of nearly 3,000 pilgrims were allowed to move towards the shrine, dedicated to Lord Shiva, deep in a cave 3,880 metres above sea level, officials said.

The pilgrims will be allowed to visit the cave shrine from one of the two treacherous mountain routes.

  • Sixteen people were killed in Indian-administered Kashmir after flash floods swept away hundreds of tents near a popular Hindu pilgrimage site. AFP
    Sixteen people were killed in Indian-administered Kashmir after flash floods swept away hundreds of tents near a popular Hindu pilgrimage site. AFP
  • A helicopter arrives to carry injured people to hospital. Reuters / Danish Ismail
    A helicopter arrives to carry injured people to hospital. Reuters / Danish Ismail
  • An injured woman is taken for treatment. Reuters / Danish Ismail
    An injured woman is taken for treatment. Reuters / Danish Ismail
  • Rescuers tend to the injured. AFP
    Rescuers tend to the injured. AFP
  • Rescuers search for survivors. Reuters
    Rescuers search for survivors. Reuters
  • According to state officials, around 15 people were killed and 40 were were missing. EPA
    According to state officials, around 15 people were killed and 40 were were missing. EPA
  • About 15,000 pilgrims were rescued by the Indian Army and the Indo-Tibetan Border Police. EPA
    About 15,000 pilgrims were rescued by the Indian Army and the Indo-Tibetan Border Police. EPA
  • Pilgrims walk towards the Amarnath holy cave along the Baltal route in Kashmir. EPA
    Pilgrims walk towards the Amarnath holy cave along the Baltal route in Kashmir. EPA
  • Rescuers walk towards the scene where a cloudburst hit pilgrims in Kashmir. EPA
    Rescuers walk towards the scene where a cloudburst hit pilgrims in Kashmir. EPA

“Pilgrims will go to the Holy cave from this [Panjtarni] route only, and after Darshan they will proceed to Baltal route for the return journey,” Indo Tibetan Border Police said.

The annual pilgrimage was briefly suspended at the weekend after a cloudburst near the shrine on Friday evening triggered a flash flood.

At least 16 people were killed and about 40 pilgrims are still missing, with hundreds of emergency workers searching for the missing.

About 15,000 stranded pilgrims were evacuated by Indo-Tibetan Border Police and a dozen pilgrims were rescued by Indian Air Force helicopters.

Thousands of pilgrims trek every day from two routes to the cave, which is revered by Hindus for containing a naturally formed ice stalagmite that believers say is a representation of Lord Shiva.

The stalagmite is believed to be formed from a trickle of water from a cleft in the roof of the cave and as water drips, it takes on new formations as it freezes.

The treacherous journey — made mostly on foot and or on ponies — takes about three days, with pilgrims resting at night at base camps on their way to the shrine.

The 43-day pilgrimage started on June 30 after a break of three years since it was cancelled by the government due to a security lockdown in Kashmir in 2019, and subsequent restrictions because of the coronavirus pandemic.

The army has constructed a makeshift staircase outside the holy cave after a path leading to the shrine was damaged due to a landslide triggered by the cloudburst.

Pilgrims are barred from staying near the cave shrine at night.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

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Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

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Updated: July 11, 2022, 12:11 PM
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