Fayoum’s Tourism Authority announced that one of the province’s most beloved residents, Swiss artist Evelyne Porret, passed away aged 81.
Porret was a longtime resident of Fayoum’s Tunis Village, one of the province’s most popular tourist destinations. She first visited the village in the early 1960s when she was in Egypt to see her father, a Christian missionary stationed in Cairo at the time.
On her first visit to Fayoum, she was accompanied by the renowned Egyptian lyricist Sayed Hegab, who she would later end up marrying.
Having dabbled in pottery back home, she made regular visits to ceramics workshops all over Egypt during the 1960s and 1970s, before permanently moving to Egypt in the 1980s to launch the Ptah Association for Training Urban and Rural Children in Ceramic Works, which remains the largest pottery school in Fayoum.
“She was one of the strongest and bravest women I ever met. To leave one’s home country and settle somewhere else isn’t easy, but she always told me that her strong love of the people and the village was what made her stay,” said Hussein El Saadawy, 34, a teacher at Porret’s school. Mr El Saadawy has known Porret for 20 years, having been one of her students when he was only 10 years old.
Since her death was announced on Tuesday, there has been an outpouring of grief on social media, with many of the country's top artists expressing their condolences and recounting their unanimously positive interactions with her.
"May God give her as much peace as she gave to those around her," fellow Fayoum resident and Egyptian painter Mohamed Abla wrote.
Porret was reportedly quite taken with Fayoum’s tranquillity and decided to build a country house on a large stretch of land there.
Her house, with its characteristic domed ceiling, was built entirely out of environmentally-friendly materials. The design was reportedly inspired by Hassan Fathi, a prominent Egyptian architect.
Porret is known for teaching other residents to build houses in this way, introducing them to the principles of environmentalism, which were near and dear to her heart.
During her early days in Fayoum, Porret would watch local children playing in the mud, which is quite abundant in the wet soil of the village that sits on the banks of Lake Qarun (Lake Moeris).
Inspired by how the children shaped the mud with their fingers, Porret decided to launch the village’s first pottery school which would go on to teach thousands of locals how to make a living through honing their pottery skills and selling their work to visitors of the village.
Tunis Village today is a popular haunt for many artists, who enjoy its remoteness and the craftsmanship of its people.
Porret’s fans credit her with being the first to bring this artistic spirit into the village and transform its culture and trade for the better.
Fayoum is one of Egypt’s poorest provinces and Porret’s efforts lifted thousands out of poverty as during the course of her life there, Tunis Village transformed from a sleepy locality to a popular holiday destination for wealthy Cairenes, many of whom built second homes there.
The increased interest in the village also resulted in the establishment of a number of high-end boutique hotels.
“She was singularly driven by altruism. She never turned anyone away and shared her knowledge and experience with great generosity,” said Mr El Saadawy.
Despite handicrafts being largely unexplored in Fayoum, Porret’s efforts over her decades of living there have made an annual handicrafts festival in the village one of the most popular events of its kind nationwide.
Porret’s burial service, which was attended by many of her friends and loved ones including village locals and expats, was broadcast live by a number of Egyptian media outlets.
Her body has been laid to rest at Fayoum’s Coptic cemetery.
She is survived by a son, who runs her pottery school now, and a daughter. She had both of her children from her second marriage to Swiss engineer Michel Pastori, who remains in Tunis Village until today.
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The biog
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From: Gujranwala, Pakistan
Arrived in the UAE: 1976
Favourite clothes to make: Suit
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Something of a fashion anomaly, normcore is essentially a celebration of the unremarkable. The term was first popularised by an article in New York magazine in 2014 and has been dubbed “ugly”, “bland’ and "anti-style" by fashion writers. It’s hallmarks are comfort, a lack of pretentiousness and neutrality – it is a trend for those who would rather not stand out from the crowd. For the most part, the style is unisex, favouring loose silhouettes, thrift-shop threads, baseball caps and boyish trainers. It is important to note that normcore is not synonymous with cheapness or low quality; there are high-fashion brands, including Parisian label Vetements, that specialise in this style. Embraced by fashion-forward street-style stars around the globe, it’s uptake in the UAE has been relatively slow.
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Cryptocurrency Investing for Dummies – by Kiana Danial
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Origin
Dan Brown
Doubleday
Timeline
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Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
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Uefa Champions League quarter-final, second leg (first-leg score)
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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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Fast facts on Neil Armstrong’s personal life:
- Armstrong was born on August 5, 1930, in Wapakoneta, Ohio
- He earned his private pilot’s license when he was 16 – he could fly before he could drive
- There was tragedy in his married life: Neil and Janet Armstrong’s daughter Karen died at the age of two in 1962 after suffering a brain tumour. She was the couple’s only daughter. Their two sons, Rick and Mark, consulted on the film
- After Armstrong departed Nasa, he bought a farm in the town of Lebanon, Ohio, in 1971 – its airstrip allowed him to tap back into his love of flying
- In 1994, Janet divorced Neil after 38 years of marriage. Two years earlier, Neil met Carol Knight, who became his second wife in 1994