Mumbai's Art Deco buildings get World Heritage tag

Agencies
June 30, 2018

Mumbai, Jun 30: Mumbai's Art Deco buildings, believed to be the world's second-largest collection after Miami, were added on Saturday to UNESCO's World Heritage List alongside the city's better-known Victorian Gothic architecture.

The decision was approved at a UNESCO meeting in the Bahraini capital Manama.

A not-for-profit team of enthusiasts are in the process of documenting every single one of Mumbai's Art Deco treasures but they estimate there may be more than 200 across India's bustling financial capital.

The majority of them, built on reclaimed land between the early 1930s and early 1950s, are clustered together in the south of the coastal city where they stand in stark contrast to Victorian Gothic structures.

The two vastly different architectural traditions face off against each other across the popular Oval Maidan playing field, where enthusiastic young cricketers hone their skills.

On one side lie imposing and rather austere 19th-century buildings housing the Bombay High Court and Mumbai University, with their spires and lancet windows.

On the other side stand sleeker buildings boasting curved corners, balconies, vertical lines and exotic motifs.

They were built by wealthy Indians who sent their architects to Europe to come up with modern designs different from those of their colonial rulers.

"Mumbai's Art Deco buildings have always lived in the shadow of the Victorian Gothic structures built by the British but this recognition by UNESCO today helps elevate Art Deco to its rightful place," Atul Kumar, the founder of Art Deco Mumbai said.

"Across a 22-acre stretch of playing field, we have two distinct architectural styles. One symbolic of India's colonisers. The other representing the aspirations of a new, wealthy Indian class."

Mumbai's Art Deco buildings house residential properties, commercial offices, hospitals and single-screen movie theatres, including the popular Regal and Eros cinemas.

Their characteristics include elegant Deco fonts, marble floors and spiral staircases.

Most of the Art Deco buildings, including along the three-kilometre-long palm-fringed Marine Drive promenade, are five storeys high and painted in bright colours such as yellow, pink and blue.

Some of Mumbai's most recognisable buildings are built in the Victorian Gothic style, including the city's famous main train station, which used to be known as Victoria Terminus.

The Bombay High Court, Mumbai University and the headquarters of the city's civic authority are other examples of that style.

They were built in the 19th century as Britain strengthened its hold over India. Many of the edifices boast tinted windows, flying buttresses and ornately carved figures.

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News Network
May 12,2020

New Delhi, May 12: Former Prime Minister Manmohan Singh, who was admitted to the AIIMS here after suffering reaction to a new medication, was discharged on Tuesday.

The 87-year-old Congress leader was discharged around 12:30 pm, hospital sources said.

Manmohan Singh was shifted to a private ward in the Cardio-Neuro tower on Monday night. He was also tested for Covid-19 and his results had come out negative, the sources said. The Congress leader was admitted to the hospital on Sunday evening after he complained of uneasiness.

The sources said that Singh had developed a reaction to a new medication and was admitted to AIIMS for observation and investigation.

Manmohan Singh is currently a Member of Rajya Sabha from Rajasthan. He was the prime minister between 2004 and 2014.

In 2009, Singh underwent a successful coronary bypass surgery at the AIIMS.

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News Network
June 5,2020

New Delhi, Jun 5: Shares of Reliance Industries on Friday gained over 2 per cent to hit their one-year high level after the company announced sale of 1.85 per cent stake in its digital unit, Jio Platforms, to Abu Dhabi-based sovereign investor Mubadala.

On BSE, the heavyweight stock jumped 2.38 per cent to Rs 1,617.70 -- its 52-week high.

It surged 2.41 per cent to its one-year high of Rs 1,618 on NSE.

Earlier in the day, Reliance Industries announced the sale of 1.85 per cent stake in its digital unit to Mubadala for Rs 9,093.60 crore, the sixth deal in as many weeks that will inject a combined Rs 87,655.35 crore in the oil-to-telecom conglomerate to help it pare debt.

"Mubadala Investment Company (Mubadala) will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," the company said in a statement.

With this investment, Jio Platforms has raised Rs 87,655.35 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd, is a next-generation technology company.

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News Network
January 27,2020

Jan 27: Bidders for Air India Ltd. will need to absorb $3.26 billion of its debt, as Prime Minister Narendra Modi’s administration tries once again to sell the national carrier.

The entire company will be sold but effective control needs to stay with Indian nationals, according to preliminary terms published Monday. Bids are invited by March 17 with Ernst & Young LLP India as transaction adviser.

Air India, which started in 1932 as a mail carrier before winning commercial popularity, saw its fortunes fade with the emergence of cutthroat low-cost competition. The state-run airline has been unprofitable for over a decade and is saddled with more than $8 billion in debt.

Indian regulations allow a foreign airline to buy as much as 49% of a local carrier, while overseas investors other than airlines can buy an entire carrier. The government didn’t find a single bidder when it tried to sell Air India in 2018.

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