Hockney Painting Breaks Auction Record For Living Artist

A celebrated painting by British artist David Hockney has been sold at Christie's in New York for just over $90m (£70m) - an auction record for a work by a living artist, reported BBC. 

Portrait of an Artist (Pool with Two Figures) had been forecast to fetch $80m.

It sold following a 10-minute battle between two rival bidders via telephone, after the price passed $70m.

Greece sells 26-week T-bills, yield stable at 0.85 pct

On Wednesday Greece sold 26-week treasury bills at a yield of 0.85 percent, unchanged from the previous similar auction last month.

Wednesday's auction amounted to 1.625 billion euros, the Public Debt Management Agency (PDMA) announced.

Total bids of 1.729 billion euros were submitted, exceeding the required amount by 1.38 times.

The settlement date is Friday.

Tender for beach licenses starts on Monday

Bidding opens on Monday for licenses commercial activities like refreshment stands and umbrella rentals at dozens of Greece's beaches.

The Finance Ministry hopes for a bigger turnout compared to last year, when the scheme was first launched and pertained to licenses for 61 beaches. According to data, closing prices last year were 50.3 percent higher than starting prices.