US returns 200 artifacts worth USD100 million to India

June 7, 2016

Washington, Jun 7: The US today returned to India over 200 stolen cultural artifacts, some dating back 2,000 years, estimated at USD 100 million, with Prime Minister Narendra Modi describing the cultural heritage as a great binding force in bilateral relationships.

US"Usually relationship between the countries of the world are very often covered by the present. It is present that plays a big role, but sometimes heritage becomes important in the relations of two countries. Sometimes what cannot be done by living persons is done by idols," the Prime Minister said at a ceremony held at the Blair House for the return of stolen artifacts to India.

Speaking in Hindi, the Prime Minister said that in the last two years various countries have endeavoured to return India's stolen cultural heritage.

"Both governments and law enforcement agencies of these countries now have become more alert on trafficking of cultural artifacts and are not only working to prevent it but also to send it back to the place of its origin," the Prime Minister said.

"I am grateful to the United States and President (Barack) Obama for returning these treasures to India which join us to our past," he said.

"For some, these artifacts may be measured in monetary terms and could be in millions for them, but for the people of India, it is a part of our culture and heritage that joins us to our past, that joins us to our values," the Prime Minister said in his brief remarks.

Modi said many tourists don't want to see only modern sites, but also they want to see the rich history a place offers.

People are attracted to India for its ancient civilisation, he said.

Referring to the Indus Valley civilisation, he said tourists are now flocking to India to see towns dating back 5,000 years.

"There treasures are to be enjoyed by the entire world. Technology can help us catch those indulging in illicit trafficking," the Prime Minister said.

Indian Ambassador to the US Arun K Singh said on Monday 12 artifacts have been returned and process has begun for the transfer of rest of the treasured artifacts.

Items returned included religious statues, bronzes and terra-cotta pieces, some dating back 2,000 years, looted from some of India's most treasured religious sites.

Among the pieces returned is a statue of Saint Manikkavichavakar, a Hindu mystic and poet from the Chola period (circa 850 AD to 1250 AD) stolen from the Sivan Temple in Chennai, which is valued at USD 1.5 million. Also included in the collection is a bronze sculpture of the Hindu god Ganesh estimated to be 1,000-year-old.

The artifacts that speak about India's astounding history and beautiful culture are beginning their journey home, said US Attorney General Loretta E Lynch.

"It is my hope – and the hope of the American people – that this repatriation will serve as a sign of our great respect for India's culture; our deep admiration for its people; and our sincere appreciation for the ties between our nations," she said.

"Protecting the cultural heritage of our global community is important work and we are committed to identifying and returning these priceless items to their countries of origin and rightful owners," said Secretary of Homeland Security Jeh Johnson said in a statement.

Johnson was not present at the repatriation ceremony.

"It's the responsibility of law enforcement worldwide to ensure criminal smuggling organisations do not profit from the theft of these culturally and historically valuable items," he said.

The majority of the pieces repatriated in the ceremony were seized during Operation Hidden Idol, an investigation that began in 2007 after Homeland Security Investigations (HSI) special agents received a tip about a shipment of seven crates destined for the US manifested as "marble garden table sets."

Examination of the shipment in question revealed numerous antiquities.

This shipment was imported by Subhash Kapoor, owner of Art of the Past Gallery.

HSI's Operation Hidden Idol focused on the activities of former New York-based art dealer Kapoor, currently in custody in India awaiting trial for allegedly looting tens of millions of dollars' worth of rare antiquities from several nations, a statement said.

Artifacts were also found in the Honolulu Museum and Peabody Essex, who promptly partnered with HSI to surrender illicit cultural property stemming from Kapoor.

HSI special agents have executed a series of search warrants targeting Kapoor's New York City gallery, along with warehouses and storage facilities linked to the dealer.

Additionally, five individuals have been arrested in the US for their role in the scheme, a statement said.

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Agencies
March 16,2020

While Google is still working on a coronavirus screening and tracking website, Microsoft Bing team has already launched a web portal for tracking COVID-19 infections worldwide.

The website, accessible at bing.com/covid, provides up-to-date infection statistics for each country.

The COVID-19 Tracker currently lists 168,835 as total confirmed cases, 84,558 active cases, 77,761 recovered cases and 6,516 deaths.

There are at least 3,244 confirmed cases of novel coronavirus in the US and at least 61 deaths.

"Lots of Bing folks worked (from home) this past week to create a mapping and authoritative news resource for COVID19 info," Michael Schechter, General Manager for Bing Growth and Distribution at Microsoft, was quoted as saying in a ZDNet report on Sunday.

An interactive map allows site visitors to click on the country to see the specific number of cases and related articles from a variety of publishers.

Data is being aggregated from sources like the World Health Organization (WHO), the US Centers for Disease Control and Prevention (CDC), and the European Centre for Disease Prevention and Control (ECDC).

Microsoft announced the website two days after US President Donald Trump said Google has begun working on COVID-19-related portal for US citizens.

Google's website is being built by Verily, a subsidiary of Alphabet focused on healthcare services.

"More than 1,700 engineers are currently working on the site", Trump said during a press briefing last week.

The tool will triage people who are concerned about their COVID-19 risk into testing sites based on guidance from public health officials and test availability.

Initially, there was some confusion on Google's coronavirus portal but the company later announced that it is "partnering with the US Government in developing a nationwide website that includes information about COVID-19 symptoms, risk, and testing information."

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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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News Network
February 5,2020

Feb 5: Tesla is making Elon Musk a lot richer without paying him a dime.

A blistering stock rally has bolstered the value of CEO Musk's 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion.

Tuesday's steep climb in the share price could sweeten Musk's payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion.

The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.

Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018.

That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co  and BMW.

Tesla shares have climbed about 400% since early June, helped by the company's better-than-expected financial results and ramped-up production at its new car factory in Shanghai.

On Tuesday, Tesla surged as much as 24% before falling back in the final minutes of the trading session to end the day up 13.7%. That put its market capitalization at $160 billion, almost twice the combined value of Ford Motor and General Motors.

The shares had also rallied on Monday, partly fueled by Panasonic Corp's 6752.T saying its automotive battery venture with Tesla was profitable for the first time.

The options Musk was awarded in 2018 vest incrementally based on targets for Tesla's stock market value and its financial performance. The market capitalization would have to sustainably rise by $50 billion increments over the agreement's 10-year period, with the full package payout reached if the market cap reaches $650 billion, as well as the company's meeting revenue and profit targets.

Musk is on his way to seeing his first two tranches of options vest. He achieved operational targets on revenue and adjusted earnings last year.

The rise in Tesla's market capitalization last month to a target of $100 billion opened the way for Musk's first tranche of options to vest. With Tuesday's surging share price, the market capitalization blew past the second target of $150 billion, opening the way for the second tranche to vest. Tesla's market capitalization must stay at or above each target level for one- and six-month averages for each set of options to vest.

Tesla was valued at about $52 billion when shareholders approved the pay package in March 2018, a time when the company faced a cash crunch, production delays and increasing competition from rivals.

A full payoff for Musk would surpass anything previously granted to U.S. executives, according to Institutional Shareholder Services, a proxy advisor that recommended investors reject the pay package deal at the time.

Musk currently owns about 34 million Tesla shares, and his compensation package would let him buy another 20.3 million shares if all his options tranches vest.

When Tesla unveiled Musk’s package, it said he could in theory reap as much as $55.8 billion if no new shares were issued. However, Tesla has since awarded stock to employees and last year sold $2.7 billion in shares and convertible bonds, diluting the value of the stock.

Musk has transformed Tesla from a niche car maker with production problems into the global leader in electric vehicles, with U.S. and Chinese factories. So far it has stayed ahead of more established rivals including BMW and Volkswagen.

Many investors remain skeptical that Tesla can consistently deliver profit, cash flow and growth. More Wall Street analysts rate Tesla "sell" than "buy," and the company's stock is the most shorted on Wall Street.

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