INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Picasso portrait of Dora Maar sells for $37 mn

Pablo Picasso's portrait of Dora Maar, his mistress and principal source of inspiration, is prepared at Sothebeys auction house in London, 22 March 2006. AFP
  • Entitled "Bust of a Woman With a Flowery Hat", the oil portrait of photographer, painter and poet Maar is a riot of colours and thick, black lines
  • The Spanish master painted it on July 11, 1943 and it was acquired in August 1944 by a private French collector, grandfather of the former anonymous owners

Paris, FranceA previously unknown portrait by Pablo Picasso of French artist Dora Maar — the painter’s best-known muse — sold for 32 million euros ($37 million) in Paris on Friday, auction house Drouot told AFP.

Entitled “Bust of a Woman With a Flowery Hat”, the oil portrait of photographer, painter and poet Maar is a riot of colours and thick, black lines.It was “sold to a foreign buyer present in the room”, the auction house said.
The Spanish master painted it on July 11, 1943 and it was acquired in August 1944 by a private French collector, grandfather of the former anonymous owners.
The sale far outstripped the reserve price of eight million euros ($9.5 million).Picasso sales are used as a leading indicator for the art market as a whole, which has slumped in recent years.