Search Site

Trends banner

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Alphabet posts first $100 bn quarter

The growth was powered by cloud division buoyed by AI

Nvidia to take stake in Nokia

Nvidia share price soars 20%.

After Italy, US now returns antiquities to Egypt

People visit the new American Wing for paintings, sculpture and decorative arts at the Metropolitan Museum of Art in New York City. (AFP)
  • Nine of the pieces had been in the possession of Michael Steinhardt, described as one of the world's largest collectors of ancient art
  • In 2021, Steinhardt was forced by US authorities to return 180 stolen ancient artworks worth a total of $70 million

New York, United States— Authorities in New York announced Wednesday the return of 16 antiquities to Egypt, including five works that were seized from the Metropolitan Museum of Art as part of a probe into international art trafficking.

Manhattan District Attorney Alvin Bragg said the 16 works were worth more than $16 million. He spoke a day after announcing a similar return of 58 artworks to Italy.

“Today’s repatriation shows the breadth and prevalence of antiquities trafficking networks,” Bragg said in a statement.

Nine of the pieces had been in the possession of Michael Steinhardt, whom Bragg described as one of the world’s largest collectors of ancient art.

In 2021, Steinhardt was forced by US authorities to return 180 stolen ancient artworks worth a total of $70 million.

Under that deal he avoided going to jail but was banned for life from acquiring antiquities in the legal market.

Five other pieces were seized in May and June from the Met, worth $3.1 million, as part of a probe carried out by US and French authorities and under which former Louvre director Jean-Luc Martinez was charged in France.

Those five pieces had been looted from archeological sites in Egypt, smuggled through Germany or the Netherlands to France, and sold by the Paris-based Pierre Berge & Associes to the Met, Bragg said.

“The information developed and shared by the Manhattan DA’s office with law-enforcement agencies around the world related to this investigation has led to the indictment or arrest of nine individuals in France, including the former Louvre Director Jean-Luc Martinez,” Bragg said.