He now spends four days at a time in Miami several times a year, almost always attending the city's Art Basel fair.

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The Hong Kong event, which closed on Sunday, is the first time Art Basel has appeared in the Asian city, which has emerged in recent years as a major art hub for the region.

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The bonus caps are being introduced as part of EU legislation to ensure banks carry adequate capital cushions in line with the so-called Basel accords agreed in the Swiss city by international banking supervisors.

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The scene was Miami where I was attending a social media event that just so happened to coincide with Art Basel, an annual affair that shocks the city senseless with hundreds of exhibitions.

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The annual carnival of art and money that is Art Basel Miami Beach (playing out across the city Dec. 2-5) is just the high point of a cultural scene that's remaking the peninsula yet again.

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