[Summary News] Picasso Painting Disappears Amid Global Events and Economic Challenges > 월드뉴스

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In a week marked by significant global events, a Pablo Picasso painting has vanished during transit in Spain, while a powerful earthquake struck Indonesia's Papua province, causing damage but no casualties. Additionally, IKEA reported a decline in sales amid low consumer confidence, Japan's Liberal Democratic Party is exploring a coalition for a new leadership bid, and China's focus on food security remains a priority in its upcoming five-year plan.

### Picasso Painting Disappearance

Spanish authorities are investigating the mysterious disappearance of Pablo Picasso's "Still Life with Guitar," valued at 600,000 euros ($700,000). The painting was en route from Madrid to Granada for an exhibition organized by the CajaGranada foundation when it vanished. National police confirmed the investigation but withheld further details due to confidentiality rules. Picasso's works have historically been targets for thieves, with two pieces recently selling for over $140 million at auction. The artist, who passed away in 1973, remains one of the most celebrated figures in modern art.

### Earthquake in Papua

A magnitude 6.5 earthquake struck Indonesia's eastern Papua province on Thursday, causing damage to numerous homes and buildings but fortunately resulting in no reported injuries or fatalities. The quake occurred at 2:48 p.m., with its epicenter located approximately 200 kilometers from Jayapura at a depth of 35 kilometers, according to the United States Geological Survey. Residents in the Sarmi regency felt the tremor, prompting many to evacuate their homes. The National Disaster Mitigation Agency reported that 20 houses were heavily damaged, while 30 sustained lighter damage, alongside three churches with collapsed walls. A team from Jakarta is being dispatched to assist in assessing the situation.

### IKEA Faces Consumer Confidence Challenges

Swedish furniture giant IKEA reported a one-percent decline in sales for its 2024-2025 fiscal year, attributing the drop to price reductions and a tightening consumer market. Sales fell to 44.6 billion euros ($52 billion), although the company noted a three percent increase in customer volume. Inter IKEA's Chief Executive Jon Abrahamsson Ring highlighted the ongoing low levels of consumer confidence, which have impacted purchasing decisions across all 63 markets where the company operates. In response, IKEA has reduced prices by 10 percent over the past two years to stimulate traffic in both online and physical stores.

### Japan's Political Landscape

In Japan, the weakened Liberal Democratic Party (LDP) is initiating policy discussions with the Japan Innovation Party (JIP) as Sanae Takaichi, the new LDP leader, seeks support for a prime ministerial vote expected next week. The Nikkei share average rose amid speculation that Takaichi could become Japan's first female premier, potentially reviving big spending and loose monetary policies. Following the exit of the LDP's junior coalition partner, Komeito, negotiations with rival parties have intensified, with both Takaichi and JIP leaders expressing a desire to form a coalition that aligns with their policy goals.

### China's Focus on Food Security

As China prepares its next five-year plan, food security remains a critical focus amid an evolving geopolitical landscape and climate change challenges. The current 14th five-year plan emphasizes food security alongside energy and finance as essential components of national economic resilience. Despite a declining population, the demand for secure food supplies has intensified. China's investments in agricultural technology and farmland protection have led to record grain production levels over the past five years, and analysts predict that the upcoming plan will further highlight the need for diversified food sources.

### Sources
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[2] feed.koreatimes.co.kr - https://www.koreatimes.co.kr/world/20251016/magnitude-65-quake-hits-indonesias-papua-usgs?utm_source=rss
[3] feed.koreatimes.co.kr - https://www.koreatimes.co.kr/world/20251016/ikea-hit-by-very-low-consumer-confidence?utm_source=rss
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[5] feed.koreatimes.co.kr - https://www.koreatimes.co.kr/world/20251016/why-chinas-next-5-year-plan-will-double-down-on-food-security?utm_source=rss