Padamsee painting sells for Rs 19 crores, sets record

September 9, 2016

New Delhi, Sep 9: Akbar Padamsee's 'Greek Landscape' fetched a record Rs 19.19 crores at Saffronart's evening sale here, making it the most expensive painting by the artist ever to sell at an auction.

akbar"Padamsee's 'Greek Landscape' trumped all expectations. The 4.3 x 12 foot canvas, estimated at Rs 7–9 crores, doubled its upper estimate. The winning bid surpassed the previous world record of Rs 9.3 crores, set by Sotheby's in 2011 for 'Reclining Nude'(1960)," Hugo Weihe, auctioneer and CEO of Saffronart said in a statement today.

One of the four "works in grey" to be offered at the auction, the 1960 imagined cityscape was painted in a palette of varying intensities of grey and is believed to have established him as a master.

The artwork was first exhibited at the Jehangir Art Gallery in Mumbai and received particular attention at the time for its revolutionary approach and monumental scale.

The modern Indian art auction had a total of 87 lots from private collections, both across India and abroad and achieved a total sale value of Rs 68.55 crores against pre-sale estimate of Rs 62.1 – 87.8 crores.

The auction that witnessed the sale for 79 per cent of the lots, featured seminal works of revolutionary Indian artists from the post-Independence years.

Nasreen Mohamedi's 1960 oil on canvas fetched Rs 2.4 crores against a pre-sale estimate of Rs 2 – 3 crores, setting a world auction record for the artist.

"We are thrilled with the world auction records we set. The sale provided a greater spectrum of Modernist works, and works rarely seen at auction were well received. We were also gratified by the interest shown by international collectors," Weihe said.

Gaganendranath Tagore's 'Ruben's Sketch Book' sold for Rs 1.8 crores against an estimate of Rs 1.5 – 2 crores setting a world auction record for the artist.

Among the top lots were V S Gaitonde's Untitled oil on canvas (1970), estimated at Rs 10 – 15 crores which sold for Rs 10.12 crores, M F Husain's 'Dreams' (1979) estimated at Rs 3–5 crores sold for Rs 4.44 crores, S H Raza's 'La Terre' (1986) sold for INR 3.84 crores (USD 581,818).

"Artists such as Ila Pal, A A Raiba, Sir Jacob Epstein and G M Solegaonkar, whose works are relatively rare at auctions, were also well received," Saffronart said.

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Agencies
June 16,2020

Paris, Jun 16: Increasing numbers of readers are paying for online news around the world even if the level of trust in the media, in general, remains very low, according to a report published Tuesday.

Around 20 percent of Americans questioned said they subscribed to an online news provider (up to four points over the previous year) and 42 percent of Norwegians (up eight points), along with 13 percent of the Dutch (up to three points), compared with 10 percent in France and Germany.

But between a third and a half of all news subscriptions go to just a few major media organisations, such as the New York Times, according to the annual Digital News Report by the Reuters Institute.

Some readers, however, are also beginning to take out more than one subscription, paying for a local or specialist title in addition to a national news source, the study's authors said.

But a large proportion of internet users say nothing could convince them to pay for online news, around 40 percent in the United States and 50 percent in Britain.

YouGov conducted the online surveys of 40 countries for the Reuters Institute in January, with 2,000 respondents in each.

Further surveys were carried out in six countries in April to analyse the initial effects of COVID-19.

The health crisis brought a revival of interest in television news -- with the audience rising five percent on average -- establishing itself as the main source of information along with online media.

Conversely, newspaper circulation was hard-hit by coronavirus lockdown measures.

The survey found trust in the news had fallen to its lowest level since the first report in 2012, with just 38 percent saying they trusted most news most of the time.

However, confidence in the news media varied considerably by country, ranging from 56 percent in Finland and Portugal to 23 percent in France and 21 percent in South Korea.

In Hong Kong, which has been hit by months of sometimes violent street protests against an extradition law, trust in the news fell 16 points to 30 percent over the year.

Chile, which has had regular demonstrations against inequality, saw trust in the media fall 15 percent while in Britain, where society has been polarised by issues such as Brexit, it was down 12 points.

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Agencies
June 12,2020

New Delhi, Jun 12: The Supreme Court on Friday asked Solicitor General Tushar Mehta to convene a meeting of the Finance Ministry and RBI officials over the weekend to decide whether interest incurred on EMIs during the moratorium period can be charged by banks.

A bench comprising Justices Ashok Bhushan, Sanjay Kishan Kaul and M.R. Shah queried Mehta as the court was concerned since the Centre has deferred loan for three months.

"Then how can interest of these 3 months be added?" the apex bench asked. Mehta replied: "I need to sit down with the RBI officials and have a meeting."

SBI's counsel, senior advocate Mukul Rohatgi, intervened during the proceedings and said "all banks are of the view that interest cannot be waived for a six month EMI moratorium period".

"We need to discuss it with the RBI," insisted Rohatgi.

Justice Bhushan then asked Mehta to convene a meeting of the RBI and Finance Ministry officials over the weekend, and listed the matter for further hearing on June 17.

The top court, during the hearing, indicated that it was not considering a complete waiver of interest but was only concerned that postponement of interest shouldn't accrue further interest on it.

After the RBI said the waiver of interest charges on EMIs during moratorium will lead to loss of 1 per cent of the nation's GDP, the top court had earlier asked the Finance Ministry to reply, whether the interest could be waived or it would continue during the moratorium period.

The top court said these are not normal times, and it is a serious issue, as on one hand moratorium is granted and then, the interest is charged on loans during this period.

"There are two issues in this (matter). No interest during the moratorium period and no interest on interest," said Justice Bhushan. The observation from the bench came on a petition by Gajendra Sharma, in which he sought a direction to declare portion of the RBI's March 27 notification as ultra vires to the extent it charged interest on the loan amount during the moratorium period.

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Agencies
July 4,2020

Twitter has joined efforts to do away with racially loaded terms such as master, slave and blacklist from its coding language in the wake of the death of African-American George Floyd and ensuing Black Lives Matter protests.

The project started even before the current movement for racial justice escalated following the death of 46-year-old George Floyd in police custody in May.

The use of terms such as "master" and "slave" in programming language originated decades ago. While "master" is used to refer to the primary version of a code, "slave" refers to the replicas. Similarly, the term "Blacklist" is used to refer to items which are meant to be automatically denied.

The efforts to change these terms in favour of more inclusive language at Twitter were initiated by Regynald Augustin and Kevin Oliver and the microblogging platform is now backing their efforts.

"Inclusive language plays a critical role in fostering an environment where everyone belongs. At Twitter, the language we have been using in our code does not reflect our values as a company or represent the people we serve. We want to change that. #WordsMatter," Twitter's engineering team said in a post on Thursday.

As per the recommendations from the team, the term "whitelist" could be replaced by "allowlist" and "blacklist" by "denylist".

Similarly, "master/slave" could be replaced by "leader/follower", "primary/replica" or "primary/standby".

Twitter, however, is not the first to start a project to bring inclusivity in programming language.

According to a report in CNET, the team behind the Drupal online publishing software started using "primary/replica" in place of "master/slave" as early as in 2014.

The use of the terms "master/slave" was also dropped by developers of the Python programming language in 2018.

Now similar efforts are underway at Microsoft's Github and LinkedIn divisions as well, said the report.

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