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Rights groups slam China over missing journalist![]() Street art greats on show in Hong Kong Hong Kong (AFP) March 18, 2016 - From Keith Haring and Basquiat to Banksy and Invader, Sotheby's new exhibition of street art legends in Hong Kong, launched Friday, taps into a growing appetite among young Asian collectors. Although auction houses have taken a knock as the China economy slows, the demand for street art in Asia has grown, with Hong Kong hosting an increasing number of exhibitions, sales and events. Last year a mosaic of 1970s American cartoon character Hong Kong Phooey by French artist Invader set a world record for that artist at auction, fetching HK$2 million ($258,000) at Sotheby's in Hong Kong. The popular piece of street art had been destroyed by the city's authorities, infuriating residents, and was later re-made for sale. Although that work went to a European collector, Sotheby's Asia director Isaure de Viel Castel says a more adventurous young local market is driving interest in street art in the region. "It's younger collectors (interested in the work)," says Castel. "People here are very adventurous. They've travelled a lot, they live abroad, especially the younger generation. They are craving new art, meeting artists, they absolutely love it." She added that the economic slowdown in China had so far not affected sales and that there was demand for street art across the region. The new exhibition, entitled "They Would be Kings" is Sotheby's first ever in Asia of street art. It comes ahead of major art show Art Basel, which kicks off in Hong Kong next week, and sees exhibitors and collectors converge on the city. All the works at the Sotheby's show are available for private sale, but prices fetched will not be disclosed and there are no pre-sale estimates, unlike an auction. Organisers say the exhibition is designed to introduce the works to an audience that may not be familiar with the broad range of street art on the market. The headline piece is Haring's large-scale abstract take on the classical image of ancient Rome's founders Romulus and Remus suckling a she-wolf. The show is curated by Steve Lazarides, a high-profile London-based art dealer known for his work with British street artist Banksy, whose work "Bomb Middle England" is one of those featured in the new exhibition. "These artists forged their own path, they bludgeoned their way into the public consciousness," said Lazarides. "You can now find works by these pioneering artists in museums, advertising and on the walls of some of the world's biggest collectors." |
Rights groups have condemned China after a Beijing-based journalist went missing, linking his disappearance to an unusual open letter calling for President Xi Jinping's resignation.
Jia Jia, a freelance journalist, has not been seen since Tuesday, his lawyer told AFP, without giving further details.
Amnesty International said a close friend of Jia told the group he disappeared some time after going through customs at Beijing airport when about to board a flight to Hong Kong.
"He went missing on the 15th," lawyer Yan Xin said, citing the journalist's wife.
City University of Hong Kong also confirmed to AFP that Jia had not turned up to a seminar he was due to give on Thursday.
"We are deeply concerned by Chinese journalist Jia Jia's disappearance," said Bob Dietz, Asia program coordinator for the Committee to Protect Journalists.
"If he is in police custody, officials must disclose where they are holding him and why. If anyone else knows where he is, they should step forward and clarify this worrisome mystery."
Under Xi, China's ruling Communist Party has tightened controls over civil society, detaining or interrogating more than 200 human rights lawyers and activists last year in what analysts have called one of the biggest crackdowns on dissent in recent times.
Sophie Richardson, China director for Human Rights Watch, voiced concern over Jia on Twitter.
"#China disapps journo--no longer enough to just erase all trace of criticism. Trend now is to erase critics, too," she tweeted.
Both Amnesty and the CPJ have linked Jia's disappearance to an open letter published on the news website Wujie News earlier this month calling for Xi's resignation.
The letter, which was rapidly removed, was signed "Loyal Communist Party members", but little else is known about its authorship.
"His going missing is most likely related to the publishing of the letter and perhaps the authorities' implication of his involvement or knowledge of the letter," Amnesty China researcher William Nee told AFP.
"Journalists and activists are forced all the time to 'drink tea' with the authorities... but it generally doesn't last this long," he said, adding that officials usually try to extract information during such meetings.
However, Jia's lawyer Yan said his disappearance may not be connected to the letter.
China is currently in the spotlight over the disappearances last year of five Hong Kong booksellers who reappeared on the mainland, as well as the use of televised confessions from suspects.
The five booksellers were from Hong Kong's Mighty Current publishing house, known for its salacious titles critical of Beijing.
Starwood Hotels dumps Marriott for raised Chinese bid
New York (AFP) March 18, 2016 -
Starwood Hotels said Friday that it favors a takeover bid from a consortium led by China's Anbang Insurance over an earlier deal with Marriott, after the Anbang group increased its offer.
Starwood's board was persuaded by Anbang's $2 increase in its Monday offer to $78 a share, and said it plans to notify Marriott International that their already agreed merger was off.
Starwood had agreed to Marriott's $63.74 per share cash-and-stock offer last November for its network of 1,270 properties in 100 countries, including the Westin, Sheraton, Le Meridien and W brands.
But the Chinese giant stepped in the way this week as it announced nearly $20 billion in two proposed hotel takeover deals.
The Anbang proposal values Starwood at $13.2 billion and comes as the Chinese giant has also agreed to buy a portfolio of 16 luxury hotel and resort properties from the Blackstone group for $6.5 billion.
With the new Anbang offer, Starwood's board said in a statement that it "intends to terminate the Marriott merger agreement and enter into a definitive agreement with the consortium."
The news pushed Starwood shares up 4.5 percent to $79.91 in early trade. Shares of Marriott, which will earn a $400 million fee for Starwood cancelling their deal, rose 2.0 percent to $73.23. Anbang is privately controlled.
Anbang's partners in the deal include China-based Primavera Capital and US private equity investor JC Flowers & Co.
Anbang first pushed into the US hospitality industry in October 2014 by acquiring the famous Waldorf Astoria Hotel in Manhattan for nearly $2 billion from Hilton Worldwide Holdings.
The purchases are part of an aggressive international push by the 12-year-old insurer, which reports assets of 1.65 trillion yuan ($254 billion), more than 3,000 branches in China and over 30,000 employees globally.
In November, Anbang bought US insurer Fidelity & Guaranty Life for $1.6 billion, after snapping up Korean insurer Tong Yang Life for around $950 million and Dutch insurer Vivat for about $167 million earlier in the year.
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