Egyptians Look to Make Quick Fortune from Bats' Nests

A wall of a chamber of the tomb of Mehu near Egypt's Saqqara necropolis in Giza. (Reuters)
A wall of a chamber of the tomb of Mehu near Egypt's Saqqara necropolis in Giza. (Reuters)
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Egyptians Look to Make Quick Fortune from Bats' Nests

A wall of a chamber of the tomb of Mehu near Egypt's Saqqara necropolis in Giza. (Reuters)
A wall of a chamber of the tomb of Mehu near Egypt's Saqqara necropolis in Giza. (Reuters)

In Upper Egypt, the so-called "red mercury" fever has emerged again. People obsessed with this substance have been looking for it in bats' nests, looking to make a fortune.

The red substance is estimated to be worth millions of Egyptian pounds in the markets of archaeological treasures seekers. 

Some have associated the red mercury with bats because their nests are located in the columns and ceilings of ancient Egyptian temples in Luxor and Aswan. 

Many wealthy people, especially in the Arab world, believe that red mercury can extend a person’s life and preserve youth.

Red mercury was rumored to be found in an ancient coffin found in the suburb of Sidi Gaber, Alexandria in July. 

At the time, Dr. Mostafa Waziri, secretary-general of the Supreme Council of Antiquities, refuted the rumors, saying the liquid found inside the coffin was "not the juice of immortality that belongs to mummies," or the so-called red mercury, but rather sewage water.

Sewage had seeped into the coffin through a small leak from the local sewage network.

Archaeologist Mohamed Yehia Oweida told the German news agency that red mercury is "just a myth" and it was never used in ancient Egypt.

The so-called Egyptian or Pharaonic red mercury does not exist, he stressed.

Moreover, until this date, there is no archaeological or scientific evidence that proves that ancient Egyptians used it in mummification.

He denied the rumored discovery of the ancient Egyptians’ so-called "immortality code", which has been sought by humans for centuries.

Oweida highlighted many popular fake myths related to red mercury, such as the discovery of a bottle containing red liquid at the Museum of Mummification in Luxor.

People obsessed with the liquid say the bottle contains red mercury, which can turn cheap metals into precious ones.

He explained that the bottle contained brownish-red liquid. It was found under the mummy of Amun Tefnakht, commander of Egyptian armies who lived during the 27th Dynasty.

The liquid was in fact a residue of some of the materials used in the mummification process, such as sawdust, and resin, aromatic fats and linen rolls.



Labubu-Maker Pop Mart Diversifies into Jewellery with New Concept Store 

A not for sale Labubu figure (L) and Labubu stickers are seen at a Pop Mart shop in Beijing on June 12, 2025. (AFP)
A not for sale Labubu figure (L) and Labubu stickers are seen at a Pop Mart shop in Beijing on June 12, 2025. (AFP)
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Labubu-Maker Pop Mart Diversifies into Jewellery with New Concept Store 

A not for sale Labubu figure (L) and Labubu stickers are seen at a Pop Mart shop in Beijing on June 12, 2025. (AFP)
A not for sale Labubu figure (L) and Labubu stickers are seen at a Pop Mart shop in Beijing on June 12, 2025. (AFP)

"Blind box" toymaker Pop Mart, which has seen frenzied sales worldwide for products related to its ugly-cute Labubu character, opened its first jewellery store in Shanghai on Friday.

The jewellery concept store, called Popop, sells accessories adorned with Pop Mart's top-selling characters, including Labubu, Molly and Skullpanda.

While Chinese consumption remains subdued in the face of a prolonged property downturn and sluggish economy, Pop Mart's affordable and adorable toys have remained in high demand both at home and abroad, driving its share price up more than 200% so far this year.

Investor Zhang Ming, 34, who owns Pop Mart stocks worth 100 million yuan ($13.92 million), flew from his base in the southwestern Chinese city of Chongqing for the opening to check out the new store type and decide whether to increase his shareholding in the company.

"I believe that the pricing and target audience for this brand are particularly well-suited, and I am confident that Pop Mart could potentially become China's version of Disney," Zhang said, predicting that the company's market cap could double from its current $45.65 billion valuation.

Along with some Disney characters and others related to anime, comics and popular video games, Pop Mart's characters are seen as fulfilling what has been called "emotional consumption", which sees young consumers spend on affordable luxuries that bring joy into their lives.

Fang Ke, 35, who has a birthday coming up this month decided to treat herself to a 699 yuan Labubu bracelet at the opening.

"I've loved Pop Mart for a long time; it's good-looking, brightly colored, and also has a visual impact," she said. "My daughter likes it too."

At Popop, prices start at around 350 yuan for charms or a simple silver ring, and go as high as 2699 yuan for necklaces adorned with metallic models of the characters. Most pieces are priced at under 1,000 yuan.

At a traditional Pop Mart store, the "blind box" toys that the chain is best known for generally sell for 69 yuan and up, but consumers have shown a willingness to shell out much more for limited editions.

Earlier this week, a Beijing auction house sold a human-sized Labubu figure for 1.08 million yuan, setting a new record and marking the toy's switch from craze to collectible.