A reporter takes a mobile photo for discovery tomb of a priestess named "Hetpet" belonging to a fifth dynasty in Old Kingdom at the Giza plateau, the site of the three ancient pyramids on the outskirts of Cairo, Egypt February 3, 2018. REUTERS/Amr Abdallah Dalsh
A reporter takes a mobile photo for discovery tomb of a priestess named 'Hetpet' belonging to a fifth dynasty in Old Kingdom at the Giza plateau, the site of the three ancient pyramids on the outskirtShow more

A voice from Egypt's distant past reminds us that history's lessons should not be forgotten



History is always intriguing, but it depends heavily on who is telling the story, how complete that story is, what is left out of the narrative and, most importantly, what lessons are drawn from it and by whom. For those of us watching the recent discovery of an ancient Egyptian tomb near Cairo, it reminds us of lessons pertaining to women, it is relevant to Egypt's tourism industry and reminds us of a time when history was made in 2011.

Last weekend, Egyptian authorities revealed a 4,400-year-old tomb had been discovered recently near the Great Pyramid of Giza. The tomb is, according to the Antiquities Ministry, that of a priestess known as Hetpet of the fifth dynasty. Those who led the mission are excited, but they're even more interested by what they haven't yet found. One of the archaeologists said: "What we see above the earth's surface in Egypt doesn't exceed 40 per cent of what the core holds."

Of course, the archaeologists are not the only ones who are excited. Egypt's tourism industry has been devastated over the past few years.The period immediately following the revolutionary uprisings in 2011 was accompanied by a great deal of uncertainty and the tourism industry has not yet recovered. The ISIL attack on a Russian airliner over the Sinai peninsula in 2015 placed even more stress on the sector. Even today, direct flights from the UK to Sharm El-Sheikh are unavailable, owing to a standing decision by the UK government to suspend such flights due to security concerns. Cairo has gone to great lengths to try to overturn that decision, as it managed to with the Russian government recently. Discoveries such as this tomb encourage Egyptian officials to find ways to revive the country's tourism trade. At its peak, that industry impacted probably around 30 per cent of Egypt's population and it is ordinary members of that population that suffer from its deleterious state.

There are other lessons to be learned. There will be those who point out that Hetpet is a woman, a deeply significant one in the religion of ancient Egypt. It's an important lesson, particularly given the reports that exist at present noting the widespread incidence of the sexual harassment of Egyptian women. And at the same time, there are so many women in Egyptian history to note and be aware of – whether it be in the modern period, like the likes of Umm Kulthum, whose voice will undoubtedly go down in history for centuries to come or in pre-modern times such as Sayyida Nafisa, who was the teacher of one of the great imams of Sunni legal history, Imam al-Shafi'i. Indeed, Imam al-Shafi'i requested in his will she pray over him when he passed on. Her resting place is often visited by Muslims who remain inspired by her example.

But there is also a less popular lesson to be taken – and that is that history is so often easily forgotten. To be sure 4,400 years is a long time and it cannot be overestimated how much time has passed since then. It is understandable that such historical details are somehow left by the wayside. But what of history that is far nearer to us in time, which we seem to have also forgotten?

After all – isn't this particular period in January and February a special time in the Egyptian calendar? It certainly ought to be – because from January 25 to February 11, 2011, Egyptians rose up, spontaneously, and courageously to declare to themselves and to ensuing generations that autocracy cannot endure, and that fear cannot and never will be the bedrock of a sustainable contract of understanding between the ruler and the ruled.

It's a poignant lesson to learn from history, seven years on. A friend of mine, the late Bassem Sabry was a famed writer and analyst who named his blog "An Arab Citizen" – and part of that nomenclature was a defiant symbol. Because for far too many of his generation, the very notion of being a fully empowered citizen was a revolution. Because if they are truly citizens, then peoples have the ability and the right to call those in authority over them to account. And it seems that even today, seven years on, there remain those who are angry at those who dared to claim the right to say 'no' to the autocrat, whether the autocracy was backed up by appeals to nationalism, or to religion. Indeed, it seems they'd like to forget that history ever happened. But it did happen and no angry outburst will change that.

History remains, nevertheless, in a constant process of remembering and re-telling. And as we learn and re-learn the history of the likes of Hetpet, we perhaps should wonder how our children and grandchildren will remember the history of far more recent times. But it will be their right to remember and our duty to tell.

Notable cricketers and political careers
  • India: Kirti Azad, Navjot Sidhu and Gautam Gambhir (rumoured)
  • Pakistan: Imran Khan and Shahid Afridi (rumoured)
  • Sri Lanka: Arjuna Ranatunga, Sanath Jayasuriya, Tillakaratne Dilshan (rumoured)
  • Bangladesh (Mashrafe Mortaza)
What is the FNC?

The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning. 
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval. 
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
 

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

UAE squad

Men's draw: Victor Scvortov and Khalifa Al Hosani, (both 73 kilograms), Sergiu Toma and Mihail Marchitan (90kg), Ivan Remarenco (100kg), Ahmed Al Naqbi (60kg), Musabah Al Shamsi and Ahmed Al Hosani (66kg)

Women’s draw: Maitha Al Neyadi (57kg)

What went into the film

25 visual effects (VFX) studios

2,150 VFX shots in a film with 2,500 shots

1,000 VFX artists

3,000 technicians

10 Concept artists, 25 3D designers

New sound technology, named 4D SRL

 

World Series

Game 1: Red Sox 8, Dodgers 4
Game 2: Red Sox 4, Dodgers 2
Game 3: Saturday (UAE)

* if needed

Game 4: Sunday
Game 5: Monday
Game 6: Wednesday
Game 7: Thursday

Five expert hiking tips
  • Always check the weather forecast before setting off
  • Make sure you have plenty of water
  • Set off early to avoid sudden weather changes in the afternoon
  • Wear appropriate clothing and footwear
  • Take your litter home with you
The Crown season 5

Stars: Imelda Staunton, Jonathan Pryce, Lesley Manville, Jonny Lee Miller, Dominic West, Elizabeth Debicki, Salim Daw and Khalid Abdalla

Written by: Peter Morgan

Rating: 4/5 stars

KEY DATES IN AMAZON'S HISTORY

July 5, 1994: Jeff Bezos founds Cadabra Inc, which would later be renamed to Amazon.com, because his lawyer misheard the name as 'cadaver'. In its earliest days, the bookstore operated out of a rented garage in Bellevue, Washington

July 16, 1995: Amazon formally opens as an online bookseller. Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought becomes the first item sold on Amazon

1997: Amazon goes public at $18 a share, which has grown about 1,000 per cent at present. Its highest closing price was $197.85 on June 27, 2024

1998: Amazon acquires IMDb, its first major acquisition. It also starts selling CDs and DVDs

2000: Amazon Marketplace opens, allowing people to sell items on the website

2002: Amazon forms what would become Amazon Web Services, opening the Amazon.com platform to all developers. The cloud unit would follow in 2006

2003: Amazon turns in an annual profit of $75 million, the first time it ended a year in the black

2005: Amazon Prime is introduced, its first-ever subscription service that offered US customers free two-day shipping for $79 a year

2006: Amazon Unbox is unveiled, the company's video service that would later morph into Amazon Instant Video and, ultimately, Amazon Video

2007: Amazon's first hardware product, the Kindle e-reader, is introduced; the Fire TV and Fire Phone would come in 2014. Grocery service Amazon Fresh is also started

2009: Amazon introduces Amazon Basics, its in-house label for a variety of products

2010: The foundations for Amazon Studios were laid. Its first original streaming content debuted in 2013

2011: The Amazon Appstore for Google's Android is launched. It is still unavailable on Apple's iOS

2014: The Amazon Echo is launched, a speaker that acts as a personal digital assistant powered by Alexa

2017: Amazon acquires Whole Foods for $13.7 billion, its biggest acquisition

2018: Amazon's market cap briefly crosses the $1 trillion mark, making it, at the time, only the third company to achieve that milestone

A QUIET PLACE

Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou

Director: Michael Sarnoski

Rating: 4/5

TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel

TOURNAMENT INFO

Women’s World Twenty20 Qualifier

Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November

UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi

Fixtures

Opening day Premier League fixtures for August 9-11

August 9

Liverpool v Norwich 11pm

August 10

West Ham v Man City 3.30pm

Bournemouth v Sheffield Utd 6pm

Burnley v Southampton 6pm

C Palace v Everton 6pm

Leicester v Wolves 6pm

Watford v Brighton 6pm

Tottenham v Aston Villa 8.30pm

August 11

Newcastle v Arsenal 5pm

Man United v Chelsea 7.30pm

 

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

COMPANY PROFILE

Company name: Co Chocolat

Started: 2017

Founders: Iman and Luchie Suguitan

Based: Dubai, UAE

Industry: Food

Funding: $1 million-plus

Investors: Fahad bin Juma, self-funding, family and friends

The biog

DOB: March 13, 1987
Place of birth: Jeddah, Saudi Arabia but lived in Virginia in the US and raised in Lebanon
School: ACS in Lebanon
University: BSA in Graphic Design at the American University of Beirut
MSA in Design Entrepreneurship at the School of Visual Arts in New York City
Nationality: Lebanese
Status: Single
Favourite thing to do: I really enjoy cycling, I was a participant in Cycling for Gaza for the second time this year

Despacito's dominance in numbers

Released: 2017

Peak chart position: No.1 in more than 47 countries, including the United States, the United Kingdom, Australia and Lebanon

Views: 5.3 billion on YouTube

Sales: With 10 million downloads in the US, Despacito became the first Latin single to receive Diamond sales certification

Streams: 1.3 billion combined audio and video by the end of 2017, making it the biggest digital hit of the year.

Awards: 17, including Record of the Year at last year’s prestigious Latin Grammy Awards, as well as five Billboard Music Awards

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

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.”

How to help

Donate towards food and a flight by transferring money to this registered charity's account.

Account name: Dar Al Ber Society

Account Number: 11 530 734

IBAN: AE 9805 000 000 000 11 530 734

Bank Name: Abu Dhabi Islamic Bank

To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae