Peruvian archaeologists have discovered a sealed underground corridor known as “the condor’s passageway”, dating back to the Chavin civilisation.
The Chavin people, whose civilisation ended more than 1,000 years ago, lived high in the Andean mountains of Peru, 3,000 metres above sea level.
They are known for having built granite and limestone temples with complex drainage systems to prevent flooding, as well as creating sculptures from carefully hammered sheets of gold.
Their metalsmiths developed an understanding of melting points, soldering and creating alloys, which was impressive for the time.
The corridor, one of dozens at the site that are linked to underground structures, is about 3,000 years old. Explorers used a camera mounted on a robot to investigate the tunnel, which is thought to be at risk of collapse.
Legend of the Lanzon
About 430km north of Lima, the Chavin de Huantar archaeological site is among the culture's most important, and thrived from about 1,500 to 550 BC.
The area, which became a Unesco World Heritage Site in 1985, contains about 35 tunnels that have been discovered over decades of excavations.
The Chavin de Huantar is filled with carvings of animals thought to have religious significance, including jaguars and caymans. At the centre of the complex of buildings is the Lanzon, a holy stone sculpture sited in a network of tunnels, which features a carving of a hybrid human-jaguar figure.
It is thought worshippers would walk through the dark tunnels before eventually being confronted with the Lanzon and performing religious rituals.
“What we have here has been frozen in time,” lead archaeologist John Rick told Reuters.
Mr Rick has been studying the area for nearly 30 years and says the world of carvings, sculptures, tunnels and roaring sounds from water flowing through specially created canals represents is an example of an early effort by authoritarian rulers to control their subjects.
“I was fascinated with the evidence we have for this idea of manipulation of people who went through ritual experiences in these structures,” he told Stanford News in 2016.
The religious order in the Chavin civilisation “needed to create a new world, one in which the settings, objects, actions and senses all argue for the presence of intrinsic authority”, he said at the time.
A large ceramic piece weighing about 17kg, decorated with what appears to be a condor's head and wings, was found in the aisle, along with a ceramic bowl, both unearthed in May last year when the entrance was uncovered.
The condor, one of the largest birds in the world, was associated with power and prosperity in ancient Andean cultures.
Mr Rick, a Stanford University archaeologist, has said much of the temple complex is still to be excavated.
Agencies contributed to this report
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Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
Zayed Sustainability Prize
In numbers: China in Dubai
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Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
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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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Mohammed bin Zayed Majlis
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Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
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Zayed Sustainability Prize
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
The biog
Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)