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Einstein notes with sketches of relativity theory sold in Paris auction for $13 million

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(Last Updated On: November 24, 2021)

A manuscript co-authored by Albert Einstein, offering a rare insight into the legendary physicist’s thinking leading up to his general theory of relativity, was sold in an auction on Tuesday for 11.7 million euros ($13.17 million).

Auction house Christie’s had estimated the value of the manuscript at between 2 million and 3 million euros, Reuters reported.

The 54 pages of paper, around half filled with Einstein’s handwriting, are one of only two working documents known in which the thinker approaches his famous theory that laid the groundwork for modern cosmology and technology such as GPS navigation.

They had been kept in the custody of the Swiss physicist Michele Besso, a close friend and academic partner of Einstein’s, who co-authored the work between 1913 and 1914.

“That’s also what makes it particularly important given that working documents by Einstein before 1919 are extremely rare,” said Vincent Belloy, an expert at Christie’s who hosted the auction in Paris.

“Einstein is someone who kept very few notes, so the mere fact that the manuscript survived and made its way to us already makes it absolutely extraordinary,” he added.

Made up mainly of endless calculations in black ink on wrinkled, lightly yellowed paper, the manuscript challenges Einstein’s popular image as an absolute genius, because it shows that even he – at least sometimes – made mistakes.

“Einstein makes errors in this manuscript, and that I think makes it even greater in a way, because we see the persistence, the thought that was in the process of being built, that is being corrected and redirected,” Belloy said.

In May, a handwritten letter in which Einstein mentioned his famous E=mc² equation, a part of his earlier theory of special relativity, was sold at roughly one million euros in the United States, more than three times its estimated price.

With his general theory of relativity that was published in 1915, Einstein revolutionised modern physics when he first described gravitation as a geometric warping of space and time, a finding that remains valid.

Christie’s did not reveal the name of the buyer.

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Pakistan receives $3 billion loan from Saudi Arabia

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(Last Updated On: December 5, 2021)

Pakistan on Saturday received a $3 billion loan from Saudi Arabia, the prime minister’s finance adviser said, as part of an economic support package.

The South Asian country has faced growing economic challenges, with high inflation, sliding forex reserves, a widening current account deficit and a depreciating currency, Reuters reported.

Pakistan’s total liquid foreign reserves stand at $22,498.8 million, based on central bank data.

Shaukat Tarin, finance adviser to Pakistan’s prime minister Imran Khan, said in a tweet: “I want to thank His Excellency Crown Prince Mohammed Bin Salman and Kingdom of Saudi Arabia for the kind gesture.”

The loan from Saudi Arabia will be for one year at a 4% interest rate under the terms of the package, which was signed last month, Reuters reported.

“This is positive news … and will help bolster both the foreign exchange reserves and sentiments in the forex market,” Saad Hashemy, executive director at BMA Capital said.

The loan comes a week after the International Monetary Fund agreed with Pakistan on measures needed to revive a stalled $6 billion funding program.

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Uzbekistan’s Samarkand city named 2023 World Tourism Capital

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(Last Updated On: December 5, 2021)

Uzbekistan’s historic city of Samarkand was chosen as the 2023 World Tourism Capital at the 24th General Assembly of the UN World Tourism Organization (UNWTO) in Spain, Uzbekistan’s Tourism and Sports Ministry said in a statement on Saturday.

Samarkand will host the 25th General Assembly of the UNWTO, which will be a “historic event” as it marks the first time in history that the gathering will be held in Uzbekistan, read the statement.

The summit in Madrid was attended by a delegation led by Uzbekistan’s Tourism and Sports Minister Aziz Abdukhakimov, who is also the country’s deputy prime minister.

The opportunity to host a UN organization meeting for the first time is the result of the Uzbek government’s policies and efforts to develop tourism in the country, the statement added.

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Russia, Southeast Asia conclude first joint naval exercise

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(Last Updated On: December 4, 2021)

Russia and the Association of Southeast Asian Nations (ASEAN) have concluded their first joint naval exercise, Indonesia’s navy said on Saturday, as the region faces rising tensions with China.

The three-day exercise off the coast of Indonesia’s Sumatra island aimed at increasing interoperability between the ASEAN member states and the Russian navy in the strategic maritime area. It comes amid rising tensions between major powers in the South China Sea, a resource-rich waterway of geopolitical significance, Reuters reported.

“The exercise has a strategic impact because it was designed to cultivate friendships between the Indonesian government, ASEAN countries and Russia,” the navy said.

The two-stage drills involved eight warships and four aircraft from Russia, Indonesia, Malaysia, Thailand, Vietnam, Singapore and Brunei.

Aleksei Bolotnikov, commander of the Russian warship Admiral Panteleyev, was quoted as saying he hoped the next ASEAN-Russia exercise could take place in Vladivostok, Reuters reported.

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