logo
Sotheby's postpones auction of jewels associated with Buddha after backlash from India's government

Sotheby's postpones auction of jewels associated with Buddha after backlash from India's government

Washington Post07-05-2025
HONG KONG — Sotheby's on Wednesday postponed an auction of jewels associated with Buddha's remains after the Indian government opposed the sale and demanded it be halted.
The gems for auction were found buried together in reliquaries with the corporeal relics of the historical Buddha and discovered in northern India in 1898, the auction house said. They dated back to around 240-200 BC, it said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

South Korea says timing of U.S. tariff cut on autos not decided
South Korea says timing of U.S. tariff cut on autos not decided

Yahoo

time11 minutes ago

  • Yahoo

South Korea says timing of U.S. tariff cut on autos not decided

SEOUL (Reuters) -South Korea's Industry Minister Kim Jung-kwan said on Wednesday that Seoul needs to hold further discussions with Washington on the timing of the promised tariff cuts on the country's car exports to the U.S. from the current level of 25%. President Donald Trump said last week the U.S. will charge a 15% tariff on imports from South Korea, including autos, as part of a deal that eases tensions with a top-10 trading partner and key Asian ally. The 15% U.S. tariffs on most items coming from South Korea are due to take effect starting from Thursday. South Korean auto makers such as Hyundai Motor and Kia want the tariff cut brought in swiftly to create a level playing field with Japanese and European rivals. Separately, Japan's top tariff negotiator Ryosei Akazawa said he would head to Washington this week to press Trump to sign an executive order to bring the cut to tariffs on Japanese auto imports into effect. In the technology sector, Kim said the countries had agreed to continue talks on online platform legislation to make sure U.S. tech companies were not unfairly treated compared with domestic firms. "Although the digital issue was not included in the latest agreement, there are major concerns about it among the U.S. government, parliament and businesses," he said at a parliamentary session. The minister reiterated that there had been no agreement on the opening of the agriculture market, including beef, rice, fruit and other farm goods as part of the deal. But he said the countries will increase cooperation in the quarantine process for fruit and vegetables, which has been cited by Washington as one of the non-tariff barriers that U.S. farmers face. South Korean Finance Minister Koo Yun-cheol said at a separate parliamentary session that the U.S. viewed the quarantine process for fruit and vegetables as too slow and asked Seoul to introduce a rational and scientific process.

Chinese People Are Known to Be Big Savers. Many Are Drowning in Debt.
Chinese People Are Known to Be Big Savers. Many Are Drowning in Debt.

New York Times

time11 minutes ago

  • New York Times

Chinese People Are Known to Be Big Savers. Many Are Drowning in Debt.

China is a nation of savers. The Chinese government wants its people to spend more and save less. It also wants them to take on more debt, all for the sake of saving the economy from a four-year slump. The national financial regulator urged banks in March to expand consumer lending and offer more flexible repayment terms. Last month, policymakers promised to provide 'innovative' financial services to boost consumption. Yet many Chinese consumers are wary. An alarming number of them are already defaulting on their debt. From 2021 to 2024, China's total household savings grew 50 percent, as people scared off by a big decline in housing values stuffed their money in banks. During the same period, the number of loans that households could not afford to pay back nearly doubled. For Beijing, expanding access to credit may seem like a quick way to stimulate the economy. But this push for consumers to borrow risks deepening a growing personal debt crisis. Many borrowers, particularly young people, are caught in cycles of debt, driven by poor financial literacy, high youth unemployment and stagnant wages. Those caught in the cycle run the gamut: factory workers, young professionals and gig economy workers. They are people who barely make ends meet while living in fear of default, calls from debt collectors and an overwhelming sense of shame. Want all of The Times? Subscribe.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store