The 2017 edition of Art Basel is a welcome distraction from the doom and gloom that has dominated the headlines throughout Europe and the world in recent months. The art world’s elite collectors were reaching deeper into their pockets this year than they have for at least the past two editions of the fair. Just hours into Tuesday’s VIP preview, many dealers were reporting multiple sales in the seven- and eight-figure range-a welcome reappearance of a phenomenon that had been rare at art fairs since the market’s most recent peak in 2014.
The Bank of Mexico governor, AgustÃn Carstens, will step down in July 2017 to become the next general manager of the Bank for International Settlements.
Carstens will serve as general manager of the BIS, which is headquartered in Basel, Switzerland, for a five-year term, succeeding Jaime Caruana, who has been in the position since 2009. The bank is the world’s oldest international financial institution and serves as a bank for central banks. Its goal is to foster international monetary and financial cooperation. It hosts bimonthly meetings of top central bank officials and publishes regular research reports.
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