Archaeologists in Egypt unearthed dozens of ancient coffins in a vast necropolis south of Cairo, marking the latest in a series of discoveries in recent years.
Minister of Antiquities and Tourism Khaled Al Anany said at least 59 sealed sarcophagi, with mummies inside most of them, were found, having been buried in three wells more than 2,600 years ago.
“I consider this is the beginning of a big discovery,” Mr El Anany said.
There is an unknown number of coffins still to be unearthed in the area, he said.
He spoke at a news conference at the Pyramid of Djoser in Saqqara, where the coffins were found.
The sarcophagi were displayed and one was opened in front of reporters to show the mummy inside. Several foreign diplomats attended the announcement.
The Saqqara plateau hosts at least 11 pyramids, including the Pyramid of Djoser, or Step Pyramid, along with hundreds of tombs of ancient officials and other sites from the 1st Dynasty (2920BC-2770BC) to the Coptic period (395-642).
Mostafa Waziri, secretary general of the Supreme Council of Antiquities, said initial studies showed that the decorated coffins were made for priests, top officials and elites from the Pharaonic Late Period (664BC-525BC).
He said archaeologists found 28 statuettes of Ptah-Soker, the main god of the Saqqara necropolis, and a beautifully carved 35-centimetre bronze statuette of god Nefertum, inlaid with precious stones.
The name of its owner, Priest Badi-Amun, is written on its base, he said.
Egyptian antiquities officials announced the discovery of the first batch of coffins last month, when archaeologists found 13 in a newly discovered well 11 metres deep.
The Saqqara site is part of the necropolis of Egypt's ancient capital of Memphis that includes the Giza Pyramids, as well as smaller pyramids at Abu Sir, Dahshur and Abu Ruwaysh. The ruins of Memphis were designated a Unesco World Heritage site in the 1970s.
Mr El Anany said the Saqqara coffins would join 30 ancient wooden coffins discovered in October in the southern city of Luxor and would be showcased at the new Grand Egyptian Museum, which Egypt is building near the Giza Pyramids.
The Saqqara discovery is the latest in a series of archaeological finds Egypt sought to publicise to revive its tourism sector, which was badly hit by the turmoil that followed the 2011 uprising.
The sector was also affected by the coronavirus pandemic.
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Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
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FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
How to turn your property into a holiday home
- Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
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- Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
- Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.
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