UPDATE: Louvre Abu Dhabi: UAE has bought Da Vinci's Salvator Mundi
Some of the mystery surrounding the most expensive painting sold at auction was solved Wednesday when it emerged that Leonardo da Vinci's Salvator Mundi is to be displayed at Louvre Abu Dhabi.
The painting of Christ by the Renaissance master was sold last month for $450 million, smashing all previous records for artworks sold at auction.
The unprecedented price - nearly three times the previous record at auction for Pablo Picasso’s painting Women of Algiers in May 2015 - led to speculation that the buyer was backed by Middle Eastern wealth.
The museum announced that the painting was coming to Abu Dhabi in a tweet on Wednesday, but gave no further details about the identity of the buyer.
However, the New York Times on Wednesday revealed the buyer to be a Saudi prince - Bader bin Abdullah Al Saud, who took part in the Christie's auction via telephone.
The painting is one of fewer than 20 paintings by da Vinci known to exist and the only one in private hands.
The painting dates from around 1500 and shows Christ dressed in Renaissance-style robes, his right hand raised in blessing as his left hand holds a crystal sphere.
Once owned by King Charles I of England, it disappeared from view until 1900, when it resurfaced and was acquired by a British collector. At that time it was attributed to a da Vinci disciple, rather than to the master himself.
The painting was sold again in 1958 for only 45 pounds ($60) and then was acquired in 2005, badly damaged and partly painted over, by a consortium of art dealers who paid less than $10,000. The art dealers restored the painting and documented its authenticity as a work by Leonardo.
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The work was exhibited in Hong Kong, San Francisco, London and New York before the sale by Christie's auction house.
The highest known sale price for any artwork had been $300 million for Willem de Kooning's painting Interchange, sold privately in September 2015 by the David Geffen Foundation to hedge fund manager Kenneth C Griffin.
UPDATE: Louvre Abu Dhabi: UAE has bought Da Vinci's Salvator Mundi
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Founder: Omar Onsi
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The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
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Lexus LX700h specs
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UAE currency: the story behind the money in your pockets
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UAE currency: the story behind the money in your pockets
What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
