A new foolproof E-auction system for tea auction centres is expected to be in place by next September across India, a top Tea Board executive said.
The Board has appointed NSE.IT to provide software, customization, project management and implementation of the electronic auction system, Board chairman Basudeb Banerjee told reporters here.
Banerjee, who was recently [...]

Foreign traders have made approaches to buy a total 2.3 million tonnes of many grades of rice from the Commerce Ministry. Two major importers have expressed intentions to buy one million tonnes each of white rice at an initial offered price of 9,000 baht per tonne, according to Apiradi Tantraporn, director-general of the Foreign Trade [...]

Another round of controversy-ridden auction of government lands recovered from encroachment began on Tuesday, after over two months. In the first part of the four-day auction anchored by the Prevention of Unauthorised Construction Cell, as much as 46.08 acres in Bangalore North and South taluks went under the hammer.
However, only 21.3 acres elicited response from [...]

China will offer 200,000 metric tons of vegetable oils comprising 178,000 tons of soyoil and 22,000 tons of rapeseed oil in a domestic auction Friday, government-run National Grain & Oil Trade Center said late Monday.
The auction is part of a slew of government policies aimed at keeping volatile domestic food prices in check, after rising [...]

Christie’s announced its upcoming Internet-based rare jewelry and art sales event in Dubai for October 31 through November 1.
Christie’s LIVEâ„¢, the first international auction house in the Middle East, will offer museum quality art and jewelry to collectors worldwide from the convenience of a personal computer. Launched on July 12, 2006, Christie’s LIVEâ„¢ has [...]

Last week, CTC teas, both leaf and dust, witnessed a good demand at all the three auction centres - Kolkata, Siliguri and Guwahati, with better varieties remaining fully firm to dearer levels, according to J. Thomas & Company Private Ltd. Prices for the remainder were steady.
Orthodox teas saw good demand at fully firm rates for [...]

Experts from Sotheby’s auction house said Yue Minjun’s “The Massacre at Chios” could beat the 2.15 million pounds ($4.3 million) fetched earlier this year by his 1997 oil on canvas entitled “The Pope”.
“It has high potential,” said Evelyn Lin, head of Sotheby’s contemporary Chinese art department. “For many artists right now, at every single auction [...]

The Nagpur bench of the Bombay high court has directed the state government to conduct departmental inquiry into alleged irregularities during auctions of teak trees in Darwah and Hivri tehsils of Yavatmal district, causing massive losses to the exchequer.
The division bench comprising justices D K Deshmukh and R C Chavan also asked the authorities [...]

A charity auction was held in Beijing Thursday night, attracting some 500 celebrities to dedicate their love to mothers and newborn babies in poor areas.
Entertainment stars including Hu Jing, Huang Yi, Lu Yi and pop band Yuquan took part in the event, which was jointly organized by China Foundation for Poverty [...]

NRI artist Tyeb Mehta’s painting ‘Mahisasura’ fetched a whopping USD 1.1 million at an auction of modern and contemporary South Asian art by the leading global auctioneer Christie’s in New York.
The sale - which saw 12 new world auction records yesterday - totalled 10,115,050 dollars, led by Mehta’s ‘Mahisasura’, Christie’s said in a statement issued [...]