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South Korean Currency Sinks To 13-year Low At 1,326 To U.S. Dollar

By
Angel Gimalo
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0

The South Korean won has hit its lowest point against the U.S. dollar in 13 years and two months.

The exchange rate for the won passed the 13-hundred-20 mark just minutes after the market opened on Friday, and closed at 13-26.1.

From the previous session, it was an increase of 14 won.

The last time the won reached 13-20 against the dollar was in April 2009.

The won has been depreciating on concerns about a global recession and as the U.S. Federal Reserve raises interest rates, which makes the dollar more attractive to investors.

Experts forecast the won to weaken further in the second half of the year, as the dollar will likely remain strong for the time being.

Despite the weakening won, however,.. the country’s benchmark stock index, the KOSPI, recovered from an early decline to end with a gain.

The KOSPI closed at just under 2,3-hundred-31 for a gain of zero.3-7 percent.

Foreign investors increased their net buying of semiconductor shares.

Samsung Electronics jumped nearly 4.4 percent, recovering to above 60-thousand won for the first time in around a month.

SK hynix also gained 5 percent.

But with the combination of a weaker won, high inflation and high interest rates, the uncertainty is expected to continue for a while.

Exploring Ittoqqortoormiit, A Small Picturesque Settlement In Greeenland

By
Angel Gimalo
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0

Ittoqqortoormiit, also known as Illoqqortoormiut in the West Greenlandic language, and Scoresbysund in Danish, is a small but very picturesque settlement that is part of the Sermersooq municipality located in the eastern part of the autonomous constituent country within the Kingdom of Denmark, Greenland.

This very remote settlement is a perfect combination of town and wilderness, as there is the Kangertittivaq fjord which attracts plenty of narwhals, walruses, seals and polar bears.

At the beginning Ittoqqortoormiit was known as Scoresbysund, a name given from the Arctic explorer and whaler William Scoresby, who was the first to map the area in 1822, however, with the greater autonomy given to Greenland the settlement now is known by its original Inuit name, which means Big-House Dwellers.

Founded in 1925 by the Danish polar explorer and author Ejnar Mikkelsen, there were only 80 Inuit settlers, whereas nowadays that number has risen and there are more than 450 souls living there.

The growing of the settlement was encouraged by the colonial power of Denmark, as the colonization was intended to improve declining living conditions in Tasiilaq, from where the settlers were more or less voluntarily transferred, which turned out to be very good as they prospered on the good hunting conditions.

Still, dog sledding, expedition cruises and wildlife dominate the opportunities for adventure in this remote place, and it is definitely not as the other towns in Greenland.

There are also great opportunities to explore the area, as the Northeast Greenland National Park is the largest one in the world in which the tallest mountain in the Arctic region, Gunnbjørn Fjeld, is located.

Nevertheless, the town is constructed of wooden buildings, painted in an array of bright blues, reds, yellows and greens, across a coastal bluff of pink and grey gneiss, which is some of the planet’s oldest rock.

As there are not many possibilities for people to thrive in the area, many generations made a living from whale and polar bear hunting, and it remains, up to the present, a significant cultural-economical factor in the area, but in recent years, the tourism is growing and becomes a bit more important to the locals.

Even though it is really difficult and expensive to get here, and even more expensive for people to go around and explore the surroundings, those who are simply setting their foot in Ittoqqortoormiit is a great Arctic and Greenlandic experience.

Once Upon A Time – July 15 – 1869 – Margarine Is Patented By Hippolye Méga-Mouriès For Use By French Navy

By
Angel Gimalo
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0

1099 City of Jerusalem is captured and plundered by Christian forces during the First Crusade

1381 John Ball, a leader in the Peasants’ Revolt, is hung, drawn and quartered in the presence of Richard II of England

1410 Battle of Grunwald (First Battle of Tannenburg, Battle of Žalgiris), one of Medieval Europe’s largest battles during Poland-Lithuanian Teutonic War. Polish King Władysław Jagiełło and Lithuanian Grand Duke Vytautas defeat Teutonic Ulrich von Jungingen

1799 The Rosetta Stone is found in the Egyptian village of Rosetta by French Captain Pierre-François Bouchard during Napoleon’s Egyptian Campaign

1955 18 Nobel laureates sign the Mainau Declaration against nuclear weapons, later co-signed by 34 more laureates

Historical Events Today
Today in Film & TV
1988 “Die Hard” directed by John McTiernan and starring Bruce Willis and Alan Rickman is released in the US

Today in Sport
1978 British Open Men’s Golf, St Andrews: Jack Nicklaus completes 3rd career grand slam; wins by 2 strokes from Ben Crenshaw & Ray Floyd

MORE…
1869 Margarine is patented by Hippolye Méga-Mouriès for use by French Navy

Famous Weddings
1137 Louis dauphin of France (later Louis VII) (17) marries Eleanor of Aquitaine (about 15) at Cathedral of Saint-André in Bordeaux

1500 “Blood Wedding” of Astorre Baglione & Lavinia Colonna in Perugia family Baglione massacre

1952 Gerald Lascelles, son of English Princess Mary, weds Angela Dowding

Legendary Gospel Singer Lionel Peterson Passes On At 74, Ron Kenoly Pens Message

By
Angel Gimalo
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2

Legendary South African gospel singer and preacher Lionel Peterson, 74, has passed away.

According to reports, the “Peace (Jehovah Knows)” singer passed on Thursday 14th July 2022 after struggling with health issues for the past couple of years.

The news of Lionel Peterson’s death was known via various social media publications with condolences for the family and tributes to the pastor.

Many also shared personal stories of how the singer has impacted their lives.

Reacting to the news, Legendary gospel singer, Ron Kenoly took to his Facebook page to pen a heartfelt message to the Lionel Peterson Family.

“Sing for joy oh Africa…” One of your favourite sons has graduated to eternal glory!” He wrote,
“Sadness seems to be an understatement when I think about the loss of my friend and brother in Christ Lionel Peterson.

We first toured together in the mid-’90s too many cities in South Africa.

From the success of his “Rejoice Africa” album, he traveled to countries in Africa and around the world.”

Among his numerous popular songs include:
-Jabulani Africa.
-Jehovah Knows.
-Lift Up your hands.
-When the righteous prosper, etc.

Cyprus Launches First Underwater Archaeological Park

By
faith Jegede
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0

Cyprus has opened its first underwater archaeological park, offering visitors a glimpse of history at one of the eastern Mediterranean’s best preserved ancient harbours.

The first underwater archaeological park offers visitors a glimpse of history at one of the eastern Mediterranean’s best preserved ancient harbours.

The now-submerged harbour lying off the ancient city-kingdom of Amathus was constructed between 312/311 B.C. and 294 B.C. when Cyprus was the focus of conflict between the two successors of Alexander the Great.

It was probably constructed as a naval base because of its narrow entrance, though experts say its combined commercial use cannot be dismissed either.

Over the centuries, it has developed into a natural reef where marine life thrives.

Artefacts including Bombing Flight Book and Mozart Manuscript Offered at Varied Auction

By
faith Jegede
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1
Ludwig Van Beethoven's working handwritten manuscript for the first movement of the Emperor Concerto is displayed in this undated handout photo. Heritage Auctions, HA.com/Handout via REUTERS

A Mozart handwritten manuscript, a flight book from the Hiroshima bombing and an excerpt from a Gutenberg Bible, as well as a cassock worn by Pope Francis are among a series of items up for grabs in an online sale by US-based Heritage Auctions.

Fifty-two lots are offered in the Historical Platinum Session Signature Auction, described as “500 Years of Human Innovation” and covers areas such as literature, science, and history.

“We’ll start with a Gutenberg bible leaf, so about 1452, down to material that went to the moon with Apollo 11,” said Samantha Sisler, special collection auction manager at Heritage Auctions.

The Gutenburg Bible was the world’s first large-scale printed book, of which only a few dozen parts have survived.

One of the top lots, with a bid of $400,000, is a log written by United States Air Force officer Captain Robert A. Lewis, one of the pilots of the Enola Gay, the plane that dropped the first atomic bomb that was launched and used in warfare over the Japanese city of Hiroshima on August 6, 1945.

“You have eight pages of his thoughts … hour by hour, minute by minute of exactly what happened … during the flight to Hiroshima,” Sisler said.

“And then they dropped the bomb. And he literally writes, ‘There will be a little pause while we bomb,’ period… It’s incredibly important… words can’t describe what you feel when you hold this thing in your hands. Something that witnessed the dawn of the nuclear age.”

Other lots relate to American aviation pioneer Amelia Earhart, who disappeared in 1937 while attempting to circumnavigate the globe, including photographs and letters, as well as a telescope belonging to the astronomer Clyde Tombaugh that discovered Pluto.

There are also draft works by authors such as Arthur Conan Doyle, creator of Sherlock Holmes, and working manuscripts by composers Wolfgang Amadeus Mozart and Ludwig van Beethoven.

“They have corrections and notes … you can see their brilliance at work as they write, as they correct, change their mind and refine,” Sisler said.

She added that it was the first time Heritage Auctions, headquartered in Dallas, Texas, had brought together different specialities in response to the diverse interests of collectors.

A Van Gogh Self-Portrait Found Hidden Behind Another Painting

By
faith Jegede
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0

A previously unknown self-portrait of Vincent Van Gogh has been discovered behind another of the artist’s other paintings, the National Galleries of Scotland said.

The self-portrait was found on the back of Van Gogh’s “Head of a Peasant Woman” when experts at the Edinburgh gallery took an X-ray of the canvas ahead of an upcoming exhibition. The work is believed to have been hidden for over a century, covered by layers of glue and cardboard when it was framed in the early 20th century.

Van Gogh was known for turning canvases around and painting on the other side to save money.

The portrait shows a bearded sitter in a brimmed hat. Experts said the subject was instantly recognizable as the artist himself and is thought to be from his early work. The left ear is clearly visible and Van Gogh famously cut his off in 1888.

Frances Fowle, a senior curator at the National Galleries of Scotland, said the discovery was “thrilling.”

“Moments like this are incredibly rare,” she said. “We have discovered an unknown work by Vincent Van Gogh, one of the most important and popular artists in the world.”

The gallery said experts are evaluating how to remove the glue and cardboard without harming “Head of a Peasant Woman.”

Visitors to an upcoming Impressionist exhibit at the Royal Scottish Academy in Edinburgh can see an X-ray image of the self-portrait through a lightbox.

Munich Court Orders Tesla To Reimburse Customer For Autopilot Problems

By
faith Jegede
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0

A court in Germany has ordered Tesla to buy back a Model 3 vehicle from a customer who filed a complaint over how disappointed he was with the Full Self-Driving package – which includes Autopilot features.

According to the driver, he felt that the cars autopilot was driving like “a drunk first-time driver”.

Tesla is starting to see increasing pushback against its Full Self-Driving package.

Since 2016, the automaker has been claiming that all of its vehicles are sold with the hardware needed to enable full self-driving with future software updates that you can get, if you buy the now $12,000 Full Self-Driving package.

Six years later, that has yet to happen.

Tesla tried to sweeten the deal by adding some other features to the Full Self-Driving package that are also associated with Autopilot, like Navigate on Autopilot, Auto Lane Change, Autopark, and Summon.

Things are more complicated in Europe since some of these features are nerfed due to local regulations.

Now, some Tesla owners are going to court to get reimbursed for the package after it didn’t live up to expectations. The automaker just lost a case in Darmstadt Regional Court, which ordered Tesla to buy back the plaintiff’s Model 3.

But Tesla insists that there’s no defect with the car and insists that the features would be delivered in the future through software updates, but it can’t say when:

With regard to the process, the US group states that it is not aware of any software or hardware malfunctions on the vehicle that could not have been remedied by a repair. According to Tesla, the necessary upgrade to the latest hardware would have been free of charge. Systems and features worked as intended and in accordance with the current regulations for autonomous driving in Germany.

The automaker has appealed the court’s verdict.

CEO Elon Musk recently said that he believes Tesla’s FSD Beta is going to launch in Europe later this year, but it depends on regulatory approval.

Nowports Hits Unicorn Status With $1B Valuation After New Funding

By
faith Jegede
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0

With an investment of US$150 million, Nowports, a logistics startup, has become Mexico’s new unicorn.

The Digital freight forwarder, announced Tuesday it has secured the $150 million in a funding round led by Softbank Latin America Fund.

The series C round has landed the company a $1.1 billion valuation, helping Nowports become one of the most valuable companies in Mexico.

“We are excited to earn the trust of large investment funds and join the short list of unicorns in Latin America. This reinforces our commitment to transform the region’s supply chains with technology and agile access to financing for companies that import or export goods,” said Alfonso de Los Rios, co-founder and CEO of Nowports.

In the first quarter of the year, Nowports launched operations in Panama and opened offices in Concepción (Chile), and Medellín (Colombia), resulting in 10 active offices in seven countries. In addition, the Mexican company increased its number of employees to more than 500.

With this investment, they plan to expand further in Latin America to serve markets that continue to experience supply chain disruptions due to the pandemic and Russia’s conflicts with Ukraine.

In addition, the new Mexican unicorn will grow its team with more talent. All areas will grow, through engineering for technological development.

Nowports says, it aims to digitally streamline the import and export processes of Latin American companies, especially small and midsize enterprises, by improving supply chain visibility. The company also provides customers with financing services and cargo insurance.

60th Anniversary: ADAA Plans Largest Art Fair Yet, With 78 Exhibitors

By
Koko Lawrence
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0

The Art Dealers Association of America has named the 78 galleries that will participate in its upcoming 2022 edition, scheduled to run at the Park Avenue Armory from November 3 to November 6, with a preview day on November 2.

As the organization marks its 60th anniversary this year, it will mount the largest-ever iteration of its acclaimed Art Show, which will bring together blue-chip enterprises like David Zwirner, Lisson, Galerie Lelong & Co., Nara Roesler, Kasmin, Petzel, Matthew Marks Gallery, and Sean Kelly.

ADAA members that have not shown at the Art Show in recent years will also return, including Lehmann Maupin, Paula Cooper Gallery, Mitchell Innes & Nash, and Anton Kern Gallery. Several new ADAA members will also participate in this edition, including Almine Rech, Gavlak, Derek Eller Gallery, and Parrash Heijnen.

In a statement, dealer Susan Sheehan, who chaired this year’s selection committee for the Art Show, said, “Despite the saturation of art fairs around the world, the ADAA continues to be the favorite fair of many dealers—myself included—because of its intimate scale, proximity to collectors, and the genuine sense of camaraderie that is felt between participating galleries. This year, the 60th anniversary has generated palpable excitement amongst ADAA members, as it’s a clear signal of our strength and maturity as an organization.”

Additionally, the forthcoming edition will also feature 55 solo presentations, such as Raul Guerrero at David Kordansky Gallery, Ricardo Brey at Alexander Gray Associates, Toshiko Takaezu at James Cohan, Robert Morris at Castelli Gallery, Lynda Benglis at Cheim & Reid, and Juanita McNeely at James Fuentes.

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