At least 11 devotees – including two children – were killed and more than a dozen injured, after being electrocuted during a procession at a temple in India's southern Tamil Nadu state.
Police said the incident occurred early on Wednesday when a temple palanquin, or temple car, came in contact with a high-voltage line at Appar Swami temple in Kalimedu in Thanjavur district.
Hundreds of devotees were part of the religious procession at the time of the accident.
More than a dozen people were riding the chariot when it came into contact with an overhead high-voltage power line.
Three people are in serious condition with severe burn injuries, police said.
Television footage showed the aftermath of the accident, with the palanquin completely scorched from the incident.
“Eleven people have been killed and 16 people are injured … the palanquin came into contact with high tension wire at 3am last night. The people have burn injuries,” Dinesh Ponraj Oliver, district collector, told The National.
Police said that while the power lines along the procession route are turned off to avoid any untoward incident, the palanquin height was not enough and the power supply was not stopped this time.
The chariot was heavily decorated with flowers and lights and was connected with a power generator electricity supply, increasing the height of the chariot to 2.7 metres.
The structure lost balance while doing a U-turn and touched the live wires, causing fire.
“A case has been registered and investigation is underway,” said V Balakrishnan, a police officer in Tiruchirappalli.
Chariot processions are a common practice in many Indian festivals, particularly in southern India, where temple deities are seated in a chariot and taken out on a procession.
Hundreds of devotees pull the chariots, usually decorated with flowers.
Prime Minister Narendra Modi called the incident “deeply painful” and wished for the speedy recovery of those injured.
“Deeply pained by the mishap in Thanjavur, Tamil Nadu. My thoughts are with the bereaved families in this hour of grief. I hope those injured recover soon,” Mr Modi's office tweeted.
The state chief minister M K Stalin has announced a compensation of 500,000 rupees ($6,500) to the bereaved families of those killed in the incident.
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United States |
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China |
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UAE |
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Japan |
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Norway |
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Canada |
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Singapore |
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South Korea |
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Total cost: Dh74.10, around 0.4 per cent of the transaction
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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.
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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.
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Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
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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.
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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.”
