On the occasion of International Museum Day on May 18, two museums opened at Cairo International Airport, Egypt. Reuters

Egypt inaugurates two new museums at Cairo International Airport



Egypt inaugurated two museums in Cairo International Airport with two well-preserved mummies as their main attraction.

The new museums, in terminals 2 and 3, will give travellers a "glimpse of Egypt's treasures", according to the Tourism and Antiquities Ministry.

Artefacts on display at the museums were chosen to represent Egypt's Pharaonic, Greco-Roman, Coptic and Islamic eras.

The exhibits were drawn from storage facilities of the Egyptian Museum at Cairo's Tahrir Square, a museum in the Red Sea city of Suez and the Greco-Roman Museum in the Mediterranean city of Alexandria, according to Moamen Othman, head of the ministry's museums department.

Tuesday's inauguration was designed to mark International Museum Day, which falls on May 18.

The collections were chosen by the Tourism Ministry's Supreme Committee for Museums.

The museums' which were also attended by Egypt's Civil Aviation Minister Mohamed Manar, took place on Tuesday morning.

government announced early in 2020 that it intended to open a museum at Cairo's airport as part of its efforts to boost the country's tourism, which was hit hard by Covid-19.

The museum's space was initially allocated to a 60-square-meter area in Terminal 3 in 2016, however it was later expanded to 150 square meters. Terminal 2's museum is the same size.

Among the museum’s most prominent exhibits are two well-preserved mummies.

The face of one mummy, from the Roman era, is covered in a gilded mask and decorated with colourful drawings.

The other comes from the Late Dynastic period of ancient Egypt and depicts a man in the Osiris position, with the feet together and the arms crossed at the wrists over the centre of the chest.

Mr Othman said one of the most important pieces on display was a bronze statue of the winged goddess Isis, wearing the two horns of Hathor with the sun disc between them.

The exhibits include a group of canopic jars from ancient Egypt, small pieces from the Islamic and Coptic periods and a group of portraits from the Late period.

Tickets to the museum cost EGP 50 ($3) for foreigners and EGP 25 ($1.5) for Egyptians.

In celebration of International Museum Day, Sharm El Sheikh Museum launched the “I Can” initiative in collaboration with a group of young volunteers in South Sinai.

They will boost tourism to the governorate, home to some of the Red Sea's most popular beach destinations.

Through this initiative, archaeologists at the museum gave educational tours to students from an international school in the area, teaching them the significance of the artefacts housed at the museum.

The students will be given the chance to show what they learnt through a tour in which they will act as guides and pass on their knowledge to museum visitors.

The student tours will be conducted in languages including English, Russian and Italian.

International Museum Day is taking place this year under the theme "The Future of Museums, Recovery and Reimagining".

How to protect yourself when air quality drops

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.

Brolliology: A History of the Umbrella in Life and Literature
By Marion Rankine
Melville House

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Hydrogen: Market potential

Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.

"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.

Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.

The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.

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TO A LAND UNKNOWN

Director: Mahdi Fleifel

Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa

Rating: 4.5/5

City's slump

L - Juventus, 2-0
D - C Palace, 2-2
W - N Forest, 3-0
L - Liverpool, 2-0
D - Feyenoord, 3-3
L - Tottenham, 4-0
L - Brighton, 2-1
L - Sporting, 4-1
L - Bournemouth, 2-1
L - Tottenham, 2-1

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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ICC men's cricketer of the year

2004 - Rahul Dravid (IND) ; 2005 - Jacques Kallis (SA) and Andrew Flintoff (ENG); 2006 - Ricky Ponting (AUS); 2007 - Ricky Ponting; 2008 - Shivnarine Chanderpaul (WI); 2009 - Mitchell Johnson (AUS); 2010 - Sachin Tendulkar (IND); 2011 - Jonathan Trott (ENG); 2012 - Kumar Sangakkara (SL); 2013 - Michael Clarke (AUS); 2014 - Mitchell Johnson; 2015 - Steve Smith (AUS); 2016 - Ravichandran Ashwin (IND); 2017 - Virat Kohli (IND); 2018 - Virat Kohli; 2019 - Ben Stokes (ENG); 2021 - Shaheen Afridi

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Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
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Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

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Small Victories: The True Story of Faith No More by Adrian Harte
Jawbone Press

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Charlotte Gainsbourg

Rest

(Because Music)

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The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat