Heavy fog reduced visibility to 25 metres in some areas as Delhi was hit by a cold snap. Reuters
Heavy fog reduced visibility to 25 metres in some areas as Delhi was hit by a cold snap. Reuters
Heavy fog reduced visibility to 25 metres in some areas as Delhi was hit by a cold snap. Reuters
Heavy fog reduced visibility to 25 metres in some areas as Delhi was hit by a cold snap. Reuters

Delhi shrouded in dense fog as temperatures plummet


Taniya Dutta
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Indian capital Delhi was shrouded in a dense fog on Monday as a cold wave gripped the city, with temperatures dropping below 4°C.

Visibility was only 25 metres in some areas, affecting traffic movement. Poor visibility in Palam, near the city’s international airport, delayed a dozen flights.

The airport authority and airlines advised passengers of dense fog that might affect flight operations, and asked them to contact airlines for flight information.

The dense fog also affected the country’s railway network, which carries about 23 million passengers daily.

As many as 30 trains were running late in northern India on Monday.

Homeless people, among the most affected by the drop in temperature, could be seen huddled on street corners burning large bonfires to keep themselves warm.

Dozens of people including patients seeking treatment at Delhi's AIIMS and Safdarjung hospitals are forced to sleep on pavements in the cold. Taniya Dutta / The National
Dozens of people including patients seeking treatment at Delhi's AIIMS and Safdarjung hospitals are forced to sleep on pavements in the cold. Taniya Dutta / The National

The Delhi government has extended winter school holidays until January 15.

India's weather department declares a cold wave when the minimum temperature is less than 4°C.

The city recorded 1.9°C on Sunday — the second-lowest minimum temperature since 2008.

Delhi’s neighbouring states have also been reeling under severe cold. Thick fog has extended from northern Punjab, adjoining north-west Rajasthan, Haryana, and Uttar Pradesh and eastern Bihar.

Punjab's Bhatinda town had zero visibility due to dense fog.

Labourers cross railway tracks amid heavy fog. Reuters
Labourers cross railway tracks amid heavy fog. Reuters

The India Meteorological Department has issued an “orange” alert for certain parts of north India, including Delhi, for at least two days.

“Due to the continuation of prevailing light winds and high moisture near the surface over the Indo-Gangetic plains, dense to very dense fog is very likely to continue in some parts during the night and morning hours over Delhi during the next two days and dense fog in isolated pockets thereafter for the subsequent three days over the region,” it said.

Several other northern states have announced school holidays for their students.

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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.”

Top 10 most polluted cities
  1. Bhiwadi, India
  2. Ghaziabad, India
  3. Hotan, China
  4. Delhi, India
  5. Jaunpur, India
  6. Faisalabad, Pakistan
  7. Noida, India
  8. Bahawalpur, Pakistan
  9. Peshawar, Pakistan
  10. Bagpat, India
Updated: January 09, 2023, 9:57 AM