Archaeologists in Saudi Arabia's Al Ula province unearthed graves dating back 6,000 years and the earliest evidence of human and dog coexistence in the Arabian Peninsula.
Al Ula, 1,100 kilometres from Riyadh, is the location of the ancient city of Hegra, Saudi Arabia’s first Unesco World Heritage Site and the main southern city of the Nabataean Kingdom in the first century that also built the Unesco site of Petra in Jordan.
A team of archaeologists have been working to find relics left at two ancient sites near by.
Researchers discovered a tomb containing canine remains buried in a cemetery thought to be one of the oldest burial sites in Saudi Arabia, dating back to about 4,300BC.
The find is the oldest evidence yet discovered that dogs coexisted with the ancient inhabitants of the Arabian Peninsula region.
“Our discovery is creating a paradigm shift in the way we view periods like the Neolithic era in the Middle East,” said Melissa Kennedy, assistant director of the Aerial Archaeological Survey in Al Ula.
The state-run Saudi Press Agency said evidence suggested the burial site was used for about 600 years from 4,300BC.
The Royal Commission for Al Ula said that the team responsible for the latest discovery is comprised of Saudi, Australian and European researchers who focused their efforts on two aboveground burial sites dating back to the fourth and fifth millennium BC.
"Al Ula is at a point where we're going to begin to realise how important it was to the development of mankind across the Middle East," said Hugh Thomas, director of Aerial Archaeology in the Kingdom of Saudi Arabia.
The two sites are about 130 kilometres apart and one is on the volcanic heights of Al Ula while the other is on Al Ula’s rough and arid plains.
During the excavations, the team uncovered 26 dog bones and 11 human bones from six adults, a teenager and four children at the first site on the volcanic uplands of Al Ula. Upon examining the bones, the team noticed signs of arthritis.
Laura Stroulin, the team's animal archaeologist, was able to prove the animal bones found were from a dog by analysing one bone in particular, from the front left leg.
The width of the bone was 21mm, similar to other measurements found of other ancient Middle Eastern canines.
The fact that the dog was buried with its owner indicated the great importance placed on the animal, the SPA said.
The team, which began fieldwork in late 2018, discovered the sites using satellite imagery and aerial photography from a helicopter.
As well as the burials, the archaeologists found rock art from the same period depicting dogs being used to hunt ibex, wild donkey and other animals.
Other notable artefacts, such as a leaf-shaped pendant at the volcanic highland site and a bead at the arid Badlands site were discovered during the dig.
Researchers are expecting more discoveries in the future as they continue the archaeological aerial survey project in Al Ula.
“There is much more to come as we reveal the depth and breadth of the area's archaeological heritage," said Rebecca Foote, director of archaeology and cultural heritage research for the Royal Commission for Al Ula.
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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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Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Global state-owned investor ranking by size
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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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Australia
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South Korea
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