• Tel Aviv University Professor Israel Hershkovitz holds what scientists say are two pieces of fossilised bone of a previously unknown kind of early human discovered at the Nesher Ramla site in central Israel. Reuters
    Tel Aviv University Professor Israel Hershkovitz holds what scientists say are two pieces of fossilised bone of a previously unknown kind of early human discovered at the Nesher Ramla site in central Israel. Reuters
  • The fossil remains of a skull and a jaw of a new early human species were uncovered at the quarry of a cement plant near the central Israeli city of Ramla. AFP
    The fossil remains of a skull and a jaw of a new early human species were uncovered at the quarry of a cement plant near the central Israeli city of Ramla. AFP
  • The discovery of a possible new early human in Israel coincided with the announcement that a skull discovered in north-east China represents a newly discovered human species that scientists have named Homo longi or "Dragon Man". AFP
    The discovery of a possible new early human in Israel coincided with the announcement that a skull discovered in north-east China represents a newly discovered human species that scientists have named Homo longi or "Dragon Man". AFP
  • Tel Aviv University Professor Israel Hershkovitz holds what scientists say is a piece of fossilised bone of a previously unknown kind of early human discovered at the Nesher Ramla site in central Israel. Reuters
    Tel Aviv University Professor Israel Hershkovitz holds what scientists say is a piece of fossilised bone of a previously unknown kind of early human discovered at the Nesher Ramla site in central Israel. Reuters
  • The site of excavations in the quarry of a cement plant near the central city of Ramla in which researchers uncovered prehistoric remains that could not be matched to any known species from the Homo genus. AFP
    The site of excavations in the quarry of a cement plant near the central city of Ramla in which researchers uncovered prehistoric remains that could not be matched to any known species from the Homo genus. AFP
  • Hila May, a physical anthropologist at the Dan David Centre and the Shmunis Institute of Tel Aviv University, holds what scientists say is a piece of fossilised bone of a previously unknown kind of early human discovered at the Nesher Ramla site in central Israel. Reuters
    Hila May, a physical anthropologist at the Dan David Centre and the Shmunis Institute of Tel Aviv University, holds what scientists say is a piece of fossilised bone of a previously unknown kind of early human discovered at the Nesher Ramla site in central Israel. Reuters
  • A view of the archaeological layers uncovered during the dig at a site in Nesher Ramla in central Israel. EPA
    A view of the archaeological layers uncovered during the dig at a site in Nesher Ramla in central Israel. EPA
  • A handout screen grab shows a virtual reconstruction of the Dragon Man skull found in the Chinese city of Harbin. AFP
    A handout screen grab shows a virtual reconstruction of the Dragon Man skull found in the Chinese city of Harbin. AFP
  • An artist's rendering of Dragon Man in his habitat. AFP
    An artist's rendering of Dragon Man in his habitat. AFP

Not just 'Dragon Man': Israeli scientists identify another human species


Robert Tollast
  • English
  • Arabic

Israeli scientists have discovered human remains distinct from Neanderthal humans, who walked the Earth until 40,000 years ago.

The previously unknown human ancestors have been called Nesher Ramla Homo type by the scientists, who uncovered the remains near the city of Ramla, south of Tel Aviv.

Fragments of a skull discovered at the site could be up to 140,000 years old.

The Nesher Ramla Homo group, the team believes, were thriving in the Middle East 400,000 years ago and probably related to the “pre-Neanderthal” inhabitants of Europe.

Neanderthals, or Homo sapiens neanderthalensis, likely became extinct over generations through breeding with their successors, early modern humans, but also faced harsh climatic conditions.

“This is the first time we could connect the dots between different specimens found in the Levant” said Tel Aviv University’s Dr Rachel Sarig.

"There are several human fossils from the caves of Qesem, Zuttiyeh and Tabun that date back to that time that we could not attribute to any specific known group of humans," she said.

"But comparing their shapes to those of the newly uncovered specimen from Nesher Ramla justify their inclusion within the [new human] group."

According to Dr Hila May, also of Tel Aviv University, the findings will change how we understand human evolution. The remains of the first identified Neanderthal were found in Neandertal valley, Germany, in 1856.

This led some scientists to believe that early humans originated in Europe or had been nomads who reached Germany from Asia.

That changed with the discovery of the remains an early species of human in Kenya in 1974.

The advent of DNA analysis in the 1980s was another leap forward in the study of early humans, again pointing to East Africa as the cradle of civilisation.

On Friday, a series of papers published in The Innovation, a scientific journal, announced the identification of another archaic human, Homo longi, based on a well-preserved skull first found in 1933 but only recently examined by scientists.

“Dragon Man” was named after the place where his skull was found in Harbin City, north-eastern China. It could be up to 300,000 years old.

Not just cavemen

“We had never imagined that alongside Homo sapiens, archaic Homo roamed the area so late in human history,” lead Nesher Ramla archaeologist Dr Yossi Zaidner said.

In line with the modern understanding of Neanderthals, the Nesher Ramla Homo were more advanced than the primitive caveman image popularised since the early 20th century.

“The archaeological finds associated with human fossils show that ‘Nesher Ramla Homo’ possessed advanced stone-tool production technologies and most likely interacted with the local Homo sapiens,” Dr Zaidner said.

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THE BIO

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Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

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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