Not considered a supreme Van Gogh masterpiece, it still went for $15.4 million. PARIS - One of the few paintings by Vincent Van Gogh still in private hands, "Street Scene in Montmartre", was sold for over 13 million euros Thursday at auction after going on public display for the first time this week, Sotheby's said. The painting -- which emerged after a century spent in the same collection and has not been exhibited in public since it was painted in 1887 -- fetched 13.091 million euros ($15.414 million), Sotheby's said. Reaching well above the estimate of 5-8 million euros, Sotheby's said the sale price was a record for the artist in France. The sale of the painting was the highlight of an auction of 33 works from masters including Degas, Magritte, Modigliani, Klee, Rodin and his muse Camille Claudel sold in an auction live-streamed by Sotheby's in Paris. The painting was reoffered at the end of the sale in Paris after the auction house scrapped its initial sale earlier in ... » Learn More about Rarely seen Paris Van Gogh sells for over 13 mn euros
CAIRO (NYTIMES) - The 193km artificial waterway known as the Suez Canal has been a potential flashpoint for geopolitical conflict since it opened in 1869. Now the canal, a vital international shipping passage, is in the news for a different reason: A 400m-long, Japanese-owned container ship en route from China to Europe has been grounded in the canal for days, blocking more than 100 vessels and sending tremors through the world of maritime commerce. With the rescue mission expected to extend into weeks, the stricken Ever Given is forcing other container ships to take detours around Africa that would add 9,656km to the journey and about US$300,000 (S$404,190) in fuel costs. Here are some basics on the history of the canal, how it operates, how the vessel got stuck and what it means. Q: Where is the Suez Canal? A: The canal is in Egypt, connecting Port Said on the Mediterranean Sea to the Indian Ocean via the southern Egyptian city of Suez on the Red Sea. The passage ... » Learn More about Ship blocks Suez Canal: How long would it take to free it and what happens if it remains stuck?
PARIS: One of the few paintings by Vincent Van Gogh still in private hands sold for more than 13 million euros at auction on Thursday (Friday in Manila), Sotheby’s said. “Street Scene in Montmartre” — on public display for the first time since its creation in 1887, after a century in the same collection — fetched 13.09 million euros ($15.4 million), the auction house said. At well above the estimate of 5 million to 8 million euros, the sale price was a record for the artist in France, it added. The painting was the highlight of an auction of 33 works from masters including Degas, Magritte, Modigliani, Klee, Rodin and his muse, Camille Claudel, sold in an auction live-streamed by Sotheby’s in Paris. The painting was reoffered at the end of the sale in Paris, after the auction house scrapped its initial sale earlier in the afternoon — where it fetched a slightly higher sale price — due to problems with online bidding. Other highlights included the sale of a recently restored ... » Learn More about Van Gogh’s 1887 work sold for $15.4 million
TOKYO (NYTIMES) - It took six days to prise free a giant container ship that ran aground and clogged the Suez Canal, one of the world's most crucial shipping arteries. It could take years to sort out who will pay for the mess. Cargo companies, insurers, government authorities and a phalanx of lawyers, all with different agendas and potential assessments, will not only need to determine the total damage but also what went wrong. When they eventually finish digging through the morass, the insurers of the ship's Japanese owner are likely to bear the brunt of the financial pain. The costs could add up quickly. There are the repairs for any physical damage to the Ever Given, the quarter-mile-long ship that got stuck in the Suez. There is the bill for the tugboats and front-end loaders that dug the beached vessel out from the mud. The authority that operates the Suez Canal has already said the crisis has cost the Egyptian government up to US$90 million (S$120 million) in lost toll ... » Learn More about Figuring out the costs of Suez Canal blockage may take years
The National Irrigation Administration (NIA) on Thursday said it had signed five project contracts worth P1.98 billion for 2020, which included the construction of irrigation systems and earthfill dams, and acquisition of heavy equipment. In a statement, the agency said the agreements were signed between NIA Administrator Ricardo Visaya and executives of the project contractors last Tuesday at the NIA Central Office in Quezon City. The bulk of the total amount was for the construction of the P832.97-million Balbalungao Earthfill Dam in Lupao, Nueva Ecija. The Balbalungao Small Reservoir Irrigation Project, with a service area of 840 hectares, aims to provide sustainable development in the area by improving farm productivity in support to the government’s agricultural program, NIA said. The agency added that the project will utilize water resources from Balbalungao River through the construction of 27-meter high embankment dam, canal network and appurtenant structures, and ... » Learn More about NIA inks P1.98-billion project contracts