The mummified remains of a dignitary, possibly dating from more than 4,000 years ago, could rewrite the history of ancient Egyptian burial practices.
Recent work on a mummy excavated in 2019 suggests that ancient Egyptians living during the time of the Old Kingdom – between 2700BC and 2200BC – were already carrying out sophisticated burials.
This is 1,000 years earlier than previously known.
The discovery featured in a 2020 episode of National Geographic’s Lost Treasures of Egypt.
Dr Salima Ikram, a professor of Egyptology at the American University in Cairo and one of the primary researchers in the recent study, told The National that “circumstantial evidence” suggested the mummy dated from the Old Kingdom.
Evidence for the mummy's great age included hieroglyphs on the wall of the tomb.
These indicate that it was the final resting place of Khuwy, a high-ranking official of the Fifth dynasty – a 150-year period from the early 25th century BC until the mid 24th century BC – and a relative of the royal family.
Pottery and canopic jars – containers used during the mummification process to store parts of the body – found in the tomb also appeared to have been made in the Old Kingdom.
“If this is indeed the mummy of Khuwy, this will truly be a unique discovery that dramatically shifts our understanding of the history of the Old Kingdom,” said Dr Ikram.
The sarcophagus where the mummy was found was housed in an austere burial chamber separated from the main tomb by a wall. The chamber was severely damaged by ancient gravediggers.
The tomb complex, Dr Ikram said, features a layout that is characteristic of the architecture of royal pyramids built during the Fifth dynasty.
Despite the strong case suggesting that the mummy does indeed date back to the Old Kingdom, Dr Ikram and her colleagues are conducting further tests which will confirm whether the remains are indeed those of Khuwy.
One possibility is that another person could have been mummified and buried centuries later in a re-purposing of the tomb.
“I remain hesitant until we can conduct carbon-14 dating,” Dr Ikram said.
She said that everything about the discovery points to the funerary practices of much later dynasties.
Dr Ikram and her colleagues were astonished by the amount of resin used to preserve the body. Such generous use of resin is virtually unheard of in Old Kingdom burials, she said.
The quality of the linen used to wrap the body is uncharacteristic of Old Kingdom funerary practices, which she says were markedly less sophisticated than in later dynasties.
In later practices, organs were properly removed and more precise tools were used throughout the process.
“When I first saw the mummy, my first thought was it was from the Twenty-first Dynasty [1069BC to 945BC],” Dr Ikram said.
The findings may also expand experts’ understanding of international trade during the Fifth Dynasty, she added.
“The resin used to preserve the body would have been imported from the Near East, from Lebanon most likely.”
The existence of these materials in Egypt at the time would mean that trade with neighbouring empires was much more extensive than previously thought.
Dr Ikram said dating analysis would take six to eight months.
Her work on the mummy is due to feature on an upcoming series of Lost Treasures of Egypt that launches in November.
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Profile of Hala Insurance
Date Started: September 2018
Founders: Walid and Karim Dib
Based: Abu Dhabi
Employees: Nine
Amount raised: $1.2 million
Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers
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It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
Company%20profile
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The bio:
Favourite film:
Declan: It was The Commitments but now it’s Bohemian Rhapsody.
Heidi: The Long Kiss Goodnight.
Favourite holiday destination:
Declan: Las Vegas but I also love getting home to Ireland and seeing everyone back home.
Heidi: Australia but my dream destination would be to go to Cuba.
Favourite pastime:
Declan: I love brunching and socializing. Just basically having the craic.
Heidi: Paddleboarding and swimming.
Personal motto:
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Heidi: Live, love, laugh and have no regrets.
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Director: Christopher Nolan
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Rating: 5/5
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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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners