dimanche 31 juillet 2016

Deep thinking about immigration

James Ryerson 

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STRANGERS IN OUR MIDST
The Political Philosophy of Immigration
David Miller


Harvard University
584 pages; $35

DEFECTIVES IN THE LAND
Disability and Immigration in the Age of Eugenics
Douglas C. Baynton
University of Chicago
584 pages; $35

CITY OF GODS
Religious Freedom, Immigration, and Pluralism in Flushing, Queens
R Scott Hanson
Empire State Editions/Fordham University
584 pages; $35

From Hobbes and Hegel to John Stuart Mill and John Rawls, the seminal figures of Western political theory are united in their almost complete neglect of immigration. No doubt they have their reasons. Who among them witnessed anything like the global refugee crisis of 2015? Or the anxieties about national identity that it inflamed? Be that as it may, with hostility toward immigrants and refugees fueling the "Brexit" movement and the presidential campaign of Donald Trump, we could use some deep thinking about the relationship between the state and its citizens.

On the case is the political philosopher David Miller. His book Strangers in Our Midst: The Political Philosophy of Immigration aims to be the first to combine such an abstract approach to the topic with such a strong dose of realism. Make no mistake: Mr Miller is a humane, social democratic Oxford University professor. But comes down in favour of a state's right - except when human rights are threatened - to close its borders to outsiders, and proposes four principles that should govern policies while admitting immigrants.

The first principle is what he calls "weak cosmopolitanism." A weak cosmopolitan believes in the equal worth of all human beings but sees this as morally compatible with giving special consideration to our compatriots. The argument is simple: The radical changes to our behaviour required by a strong cosmopolitanism - which holds that we have an obligation to treat all people the same - would entail abandoning too much of what gives shape and meaning to our lives.

In the context of immigration, strong cosmopolitanism mandates an international "open borders" policy, whereas weak cosmopolitanism dictates only that a country's policy cannot violate anyone's human rights and sometimes must actively protect them.

Mr Miller's second principle is national self-determination. Immigration can bring about considerable change to a country, and Mr Miller argues that citizens have the right to decide whether such changes would bolster or undermine their society. Any such policies have to be consistent with weak cosmopolitanism - and also, Mr Miller believes, with his third principle: fairness. The aim of a state's immigration policy has to be one that would-be immigrants ought to accept as reasonable.

Does that seem as if it might get blurry in practice? The early history of immigration policy in America, as told by historian Douglas C Baynton in Defectives In The Land: Disability And Immigration In The Age Of Eugenics suggests so. Traditionally, scholars have divided that history into two periods: a "selective" phase starting in 1882, which involved screening out individuals with any "defect" that would render them "likely to become a public charge"; and a "restrictive phase" starting with the passage of a literacy test in 1917.

Yet Mr Baynton, challenging conventional historiography, argues that the selective phase, despite its reliance on the "public charge" standard, was no less discriminatory. During those years, he demonstrates, immigration officials could and did customarily invoke this to rule out such "defectives" as women unaccompanied by male providers and members of races with supposed "predispositions" to criminality.

The fourth of Mr Miller's principles is social integration, where Mr Miller calls for certain commitments, as well as a certain flexibility, on the part of everyone involved.

Mr Miller argues for reciprocity with respect to cultural integration. A Muslim immigrant to Italy, he feels, should not object to the presence of a crucifix in his daughter's classroom as a symbol of the nation's Catholic heritage; but neither should her school object to her preference for modest dress and the wearing of a head scarf. Here, too, the American example is relevant. In his minutely detailed City Of Gods the historian R Scott Hanson uses the story of Flushing - which calls itself the birthplace of religious freedom in America and is now the hub of the most religiously diverse large county in the US - as a "case study" of the promises and drawbacks of pluralism. How religiously diverse can a society get?

Mr Hanson, who has also done ethnographic work in the neighbourhood, concludes there is virtually "no limit" to how much religious diversity a society can accommodate. But he also finds that when it comes to cooperation and unity - two goals that Mr Miller, at least, places considerable emphasis on - there are limits to how much of a sense of community you can achieve in such a pluralistic environment. It's another consideration to bear in mind for those who seek to respect social cohesion as well as the rights and interests of prospective immigrants.


©2016 The New York Times News service

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Deep thinking about immigration

vendredi 29 juillet 2016

Flipkart to trim workforce to cut costs

Move to affect 700-1,000 non-performers, or up to 3.3 per cent of its workforce

Alnoor Peermohamed  |  Bengaluru 

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India’s largest player, Flipkart, is downsizing its workforce, as it looks to cut costs and better compete with global rival Amazon. The move will affect 700-1,000 staffers, or up to 3.3 per cent of its workforce, according to a The Economic Times report.

Flipkart, which has come under the gaze of investors for burning cash, is trying to find a balance between growth (to ward off Amazon) and profitability. Recently, the company made several changes to this effect, including increasing margins it charges from sellers.

REACHING A BALANCE
  • Flipkart, which has come under the gaze of investors for burning cash, is trying to find a balance between growth and profitability
  • With a staff of 30,000 people, it has one of the largest workforces among Indian e-commerce firms
  • It has been criticised for over-hiring and locking in top talent

At the same time, has committed to invest a further $3 billion in its India operations over the next few years, aiming to become the leader in India’s e-commerce space. The US firm is estimated to have already edged out local player and is seen as closing in on Flipkart.

However, says the downsizing is part of its annual employee performance review, where underperformers are asked to either leave or let go. It claims it loses between one-two per cent of its during this time each year, and it isn’t something to be alarmed of.

“At times, we have employees who do not meet the performance bar. In those situations, we work closely with employees to enable them to improve their performance. In due course, if these employees are unable to make the desired progress, they are encouraged to seek opportunities elsewhere,” said a Flipkart spokesperson.

With a staff of 30,000 people, Flipkart has one of the largest workforces among Indian e-commerce companies.

It has been criticised several times for over-hiring and locking in top talent to win an edge over competition - a highly capital-intensive strategy.

The company has already been shedding flab in its top management, with the exits of Punit Soni, Mukesh Bansal, Ankit Nagori, and several others making news. It has also roped in Kalyan Krishnamurthy, a veteran from investor Tiger Global, to rein in costs and help the company survive the Amazon onslaught.

Last month, Flipkart deferred the placement of fresh recruits from top Indian colleges by nearly six months, citing it was undergoing a major overhaul and couldn’t absorb them just yet. Employees later arranged internships for these candidates with other start-ups, until it was ready to absorb them in December.

Moreover, Flipkart isn’t the only e-commerce player trimming its workforce. In February, Snapdeal sent notices to around 200 of its employees to either shape up or ship out, as it too looked to become more performance-driven, at a time when it was looking to decelerate its cash burn.

Flipkart to trim workforce to cut costs

Move to affect 700-1,000 non-performers, or up to 3.3 per cent of its workforce

Move to affect 700-1,000 non-performers, or up to 3.3 per cent of its workforce India’s largest player, Flipkart, is downsizing its workforce, as it looks to cut costs and better compete with global rival Amazon. The move will affect 700-1,000 staffers, or up to 3.3 per cent of its workforce, according to a The Economic Times report.

Flipkart, which has come under the gaze of investors for burning cash, is trying to find a balance between growth (to ward off Amazon) and profitability. Recently, the company made several changes to this effect, including increasing margins it charges from sellers.

REACHING A BALANCE
  • Flipkart, which has come under the gaze of investors for burning cash, is trying to find a balance between growth and profitability
  • With a staff of 30,000 people, it has one of the largest workforces among Indian e-commerce firms
  • It has been criticised for over-hiring and locking in top talent

At the same time, has committed to invest a further $3 billion in its India operations over the next few years, aiming to become the leader in India’s e-commerce space. The US firm is estimated to have already edged out local player and is seen as closing in on Flipkart.

However, says the downsizing is part of its annual employee performance review, where underperformers are asked to either leave or let go. It claims it loses between one-two per cent of its during this time each year, and it isn’t something to be alarmed of.

“At times, we have employees who do not meet the performance bar. In those situations, we work closely with employees to enable them to improve their performance. In due course, if these employees are unable to make the desired progress, they are encouraged to seek opportunities elsewhere,” said a Flipkart spokesperson.

With a staff of 30,000 people, Flipkart has one of the largest workforces among Indian e-commerce companies.

It has been criticised several times for over-hiring and locking in top talent to win an edge over competition - a highly capital-intensive strategy.

The company has already been shedding flab in its top management, with the exits of Punit Soni, Mukesh Bansal, Ankit Nagori, and several others making news. It has also roped in Kalyan Krishnamurthy, a veteran from investor Tiger Global, to rein in costs and help the company survive the Amazon onslaught.

Last month, Flipkart deferred the placement of fresh recruits from top Indian colleges by nearly six months, citing it was undergoing a major overhaul and couldn’t absorb them just yet. Employees later arranged internships for these candidates with other start-ups, until it was ready to absorb them in December.

Moreover, Flipkart isn’t the only e-commerce player trimming its workforce. In February, Snapdeal sent notices to around 200 of its employees to either shape up or ship out, as it too looked to become more performance-driven, at a time when it was looking to decelerate its cash burn.
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Alnoor Peermohamed

Business Standard

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Flipkart to trim workforce to cut costs

The Nanavati papers

As a new film based on the Nanavati scandal prepares to release, author recounts how it played out in the courts, media and genteel south Bombay

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It was about the end of the monsoons of 1959, and the Sessions Court in Mumbai had morphed into a local tourist spot. Hundreds of people were making detours on their regular route from work or school to gather near the building in Flora Fountain, not owing to any sudden surge in litigations, but because of unprecedented public interest in one particular legal battle: the case of Commander Kawas Manekshaw Nanavati of the Indian Navy versus the state of Maharashtra. He arrived always in crisp uniform, medals proudly pinned at the heart. Even if he had been charged with killing his ...

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The Nanavati papers

A terrorist's mind map

An account of David Headley's life, often in his own words, provides a useful study in how radicalised youth cross the boundaries into terrorism

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THE MIND OF A TERRORIST The Strange Case of David Headley Author: Kaare Sorensen (Translated from the Danish by Cory Klingsporn) Publisher: Penguin Books Price: Rs 599 Pages: 349 David Coleman Headley, the Pakistani-American "drug dealer, informer and terrorist" born Daood Sayeed Gilani, chose the targets for the Mumbai terrorist attacks of November 2008 after having reconnoitered the city for more than a year. That he was born in Washington DC to a Pakistani father and an American mother, and had an American passport, made him an invaluable asset to the sponsors of ...

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Roald Dahl's tamed tale

Steven Spielberg's The BFG is a visual treat featuring bottled dreams and man-gobbling giants, but it misses the mark by sanitising a dark tale

Nikita Puri 

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At a time when shadows prowl under streetlights, cats thoroughly inspect trash cans and men stagger on their way home after finding happiness at the bottom of a bottle, little Sophie stands by the window. The orphanage is the only home Sophie has ever known, and her blanket is her sole comforter as she battles insomnia and finds solace in books. Based on a children’s book Roald Dahl wrote in 1982, director Steven Spielberg’s The BFG is an exercise in stunning visuals as Sophie embarks on a surreal adventure with her ‘abductor,’ a 24-feet giant — one of ...

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The right wardrobe for your Bullet

The Royal Enfield gear is about safety and style without compromising on comfort

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Keep your bike in good repair; motorcycle boots are not comfortable for walking,” goes a wise biker saying. Iconic motorcycle maker, Royal Enfield, is, however, tweaking that saying to show that besides being protective and stylish, biking gear can also be comfortable. Inside Enfield’s gear store in Khan Market in Delhi that looks like a biker’s den and is one of the seven in the country, the gear — jackets, trousers, shoes, gloves and bags — comes with a twist. A lot here can pass off as casual daily wear — stuff that can be worn, say, to a ...

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Tea with rasmalai?

The Dilmah tea lounge in New Delhi's Khan Market reflects the transformation of tea into a gourmet drink

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Sweet aromas of freshly toasted waffles seem to act like a charm, drawing one up in a trance to the Dilmah t-lounge. As one climbs to the first floor, dainty cups of chilled tea garnished with rose petals can be seen perched on to the counter, waiting to be served to customers. Located in the plush environs of Khan Market, this is the first tea lounge in India by Dilmah, a luxury tea company based in Sri Lanka, and a presence in 104 countries. The fact that the company has chosen to open a lounge in India, after launching similar spaces in Colombo, The Philippines, Malaysia, ...

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A taste of Tuscany

When on a food trail in Florence, one is spoilt for choice

Ritika Kochhar 

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The Tuscans take a lot of pride in the freshness of their ingredients, which is why my food tour of Florence needs to start at Mercato Centrale, the covered building inside the San Lorenzo market. Outside, Florence’s famous leather goods are sold all day, but inside, the shops selling fresh Tuscan produce stay open only between 7 am and 1 pm. While the aroma of fresh buttery croissants permeates the air, I rush to buy cold cuts, mushroom, cheese, olives, pesto, dried tomatoes, packed pastas, spice mixes, truffles, oils, vinegars and the famous Chianti wines from the region ...

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A taste of Tuscany

Flipkart thinks lean as it looks to trim workforce flab

Move to affect 700-1,000 non-performers, or up to 3.3 per cent of its workforce

Alnoor Peermohamed  |  Bengaluru 

http://mybs.in/2TGEWGb

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India’s largest player, Flipkart, is downsizing its workforce, as it looks to cut costs and better compete with global rival Amazon. The move will affect between 700-1,000 staffers, or up to 3.3 per cent of its workforce, according to an Economic Times report.

Flipkart, which has come under the gaze of investors for burning cash, is trying to find a balance between growth (to ward off Amazon) and profitability. Recently, the company made several changes to this effect, including increasing margins its charges from sellers.


At the same time, has committed to invest a further $3 billion in its India operations over the next few years, aiming to become the leader in India’s e-commerce space. The US firm is estimated to have already edged out local player and is seen as closing in on Flipkart.

However, says the downsizing is part of its annual employee performance review, where underperformers are asked to either leave or let go. It claims it loses between 1-2 per cent of its during this time each year, and that it isn’t something to be alarmed of.

“At times, we have employees who do not meet the performance bar. In those situations, we work closely with employees to enable them to improve their performance. In due course, if these employees are unable to make the desired progress, they are encouraged to seek opportunities elsewhere,” said a Flipkart spokesperson.


With a staff of 30,000 people, Flipkart has one of the largest workforces among Indian e-commerce companies. It has been criticised several times for over-hiring and locking in top talent to win an edge over competition - a highly capital-intensive strategy.


The company has already been shedding flab in its top management, with the exits of Punit Soni, Mukesh Bansal, Ankit Nagori, and several others making news. It has also roped in Kalyan Krishnamurthy, a veteran from investor Tiger Global, to rein in costs and help the company survive the Amazon onslaught.

Also Read: Will Jabong Save Flipkart From Amazon?


Last month, Flipkart deferred the placement of fresh recruits from top Indian colleges by nearly six months, citing it was undergoing a major overhaul and couldn’t absorb them just yet. Employees later arranged internships for these candidates with other start-ups, until it was ready to absorb them in December.


Moreover, Flipkart isn’t the only e-commerce player trimming its workforce. In February, Snapdeal sent notices to around 200 of its employees to either shape up or ship out, as it too looked to become more performance-driven, at a time when it was looking to decelerate its cash burn.

Flip the Kart on underperformers

  • Flipkart, which has come under the gaze of investors for burning cash, is trying to find a balance between growth (to ward off Amazon) and profitability
  • With a staff of 30,000 people, Flipkart has one of the largest workforces among Indian e-commerce companies
  • It has been criticised several times for over-hiring and locking in top talent to win an edge over competition - a highly capital-intensive strategy

Flipkart thinks lean as it looks to trim workforce flab

Move to affect 700-1,000 non-performers, or up to 3.3 per cent of its workforce

Move to affect 700-1,000 non-performers, or up to 3.3 per cent of its workforce
India’s largest player, Flipkart, is downsizing its workforce, as it looks to cut costs and better compete with global rival Amazon. The move will affect between 700-1,000 staffers, or up to 3.3 per cent of its workforce, according to an Economic Times report.

Flipkart, which has come under the gaze of investors for burning cash, is trying to find a balance between growth (to ward off Amazon) and profitability. Recently, the company made several changes to this effect, including increasing margins its charges from sellers.


At the same time, has committed to invest a further $3 billion in its India operations over the next few years, aiming to become the leader in India’s e-commerce space. The US firm is estimated to have already edged out local player and is seen as closing in on Flipkart.

However, says the downsizing is part of its annual employee performance review, where underperformers are asked to either leave or let go. It claims it loses between 1-2 per cent of its during this time each year, and that it isn’t something to be alarmed of.

“At times, we have employees who do not meet the performance bar. In those situations, we work closely with employees to enable them to improve their performance. In due course, if these employees are unable to make the desired progress, they are encouraged to seek opportunities elsewhere,” said a Flipkart spokesperson.


With a staff of 30,000 people, Flipkart has one of the largest workforces among Indian e-commerce companies. It has been criticised several times for over-hiring and locking in top talent to win an edge over competition - a highly capital-intensive strategy.


The company has already been shedding flab in its top management, with the exits of Punit Soni, Mukesh Bansal, Ankit Nagori, and several others making news. It has also roped in Kalyan Krishnamurthy, a veteran from investor Tiger Global, to rein in costs and help the company survive the Amazon onslaught.

Also Read: Will Jabong Save Flipkart From Amazon?


Last month, Flipkart deferred the placement of fresh recruits from top Indian colleges by nearly six months, citing it was undergoing a major overhaul and couldn’t absorb them just yet. Employees later arranged internships for these candidates with other start-ups, until it was ready to absorb them in December.


Moreover, Flipkart isn’t the only e-commerce player trimming its workforce. In February, Snapdeal sent notices to around 200 of its employees to either shape up or ship out, as it too looked to become more performance-driven, at a time when it was looking to decelerate its cash burn.

Flip the Kart on underperformers

  • Flipkart, which has come under the gaze of investors for burning cash, is trying to find a balance between growth (to ward off Amazon) and profitability
  • With a staff of 30,000 people, Flipkart has one of the largest workforces among Indian e-commerce companies
  • It has been criticised several times for over-hiring and locking in top talent to win an edge over competition - a highly capital-intensive strategy

image

Alnoor Peermohamed

Business Standard

177 22

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Flipkart thinks lean as it looks to trim workforce flab

Virat Kohli the best cricketer at the moment: Brett Lee

The former Australian cricketer is currently in India to promote his film 'UnIndian'

IANS  |  Mumbai 

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Virat Kohli the best cricketer at the moment: Brett Lee

Former Australian Brett Lee, who is currently in to promote his "UnIndian", terms Indian Test skipper as the best cricketer at the moment.

"I feel Virat is the best cricketer at the moment. Sachin (Tendulkar) is the best batsman and now I feel Virat (Kohli) is tremendous from his work ethic.... his aggression is amazing. People look up to him," Lee told reportere here.

The former Australian pacer also said that he still loves cricket but getting into acting is the second innings of his life.

"I still love cricket. You will always respect the game enough but this is my second innings," he said.

Talking about his film "UnIndian", he said: "I want people to enjoy the film. It's a and there is humuor and lot of passion."

"This film is about a cross cultural relationship. After watching it, lot of people have come and said that's what we are going through," he added.

Directed by Anupam Sharma, "UnIndian" also features Tannishtha Chatterjee, Supriya Pathak, Akash Khurana and Gulshan Grover.

Virat Kohli the best cricketer at the moment: Brett Lee

The former Australian cricketer is currently in India to promote his film 'UnIndian'

The former Australian cricketer is currently in India to promote his film 'UnIndian'

Former Australian Brett Lee, who is currently in to promote his "UnIndian", terms Indian Test skipper as the best cricketer at the moment.

"I feel Virat is the best cricketer at the moment. Sachin (Tendulkar) is the best batsman and now I feel Virat (Kohli) is tremendous from his work ethic.... his aggression is amazing. People look up to him," Lee told reportere here.

The former Australian pacer also said that he still loves cricket but getting into acting is the second innings of his life.

"I still love cricket. You will always respect the game enough but this is my second innings," he said.

Talking about his film "UnIndian", he said: "I want people to enjoy the film. It's a and there is humuor and lot of passion."

"This film is about a cross cultural relationship. After watching it, lot of people have come and said that's what we are going through," he added.

Directed by Anupam Sharma, "UnIndian" also features Tannishtha Chatterjee, Supriya Pathak, Akash Khurana and Gulshan Grover.

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IANS

Business Standard

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Virat Kohli the best cricketer at the moment: Brett Lee

jeudi 28 juillet 2016

India's unofficial apartheid

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BEING THE OTHER The Muslim in India Saeed Naqvi Aleph 239 pages; Rs 599 At the height of the Babri Masjid-Ram Janmabhoomi agitation, veteran journalist Saeed Naqvi asked an audience at the Aligarh Muslim University (AMU), equally divided between Hindus and Muslims, if any of the Hindus had visited a Muslim home and whether the Muslims had ever seen the insides of a Hindu abode. Not a single hand went up. Hindus and Muslims have "lived in a state of uninstitutionalized apartheid for decades, even centuries," he writes in Being the Other: The Muslim in India, an engaging ...

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mercredi 27 juillet 2016

Bibek Debroy: A recognition of Kalidasa

Bibek Debroy 

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KALIDASA ABHIJNANASHAKUNTALAM The Recognition of Shakuntala Translated by Vinay Dharwadker Penguin Books 347 pages; Rs 499 Few people know that Swami Vivekananda was fluent in Sanskrit. He had a disciple named Sharatchandra Chakravarty who kept a diary, written in Bengali but it has since been translated into English. This anecdote is from this diary. Shri Ramakrishna had a householder disciple named Nag Mahashaya. On one occasion in 1897, when Sharatchandra Chakravarty was present, another disciple, who frequently visited Nag Mahashaya, came to meet Swami Vivekananda and mentioned Nag ...

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Steel imports continue below MIP levels, complain producers

Total imports in April-June were 1.75 million tonnes, of which 69 per cent were below MIP levels

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Steel Strips Wheels opens steel processing unit
It's almost six months since the government imposed a (MIP) of $341-752 a tonne on certain items but imports continue at prices lower than these, alleged the industry.

According to figures compiled by IBIS, a data collection agency cited by the industry, total imports in April-June were 1.75 million tonnes, of which 69 per cent were below MIP levels.


"MIP has been circumvented, either by extending LCs (letters of credit) or through imports under the Advance Authorisation Scheme and then regularising these with the licensing authorities through nominal interest payment, thereby avoiding the need to export. Exports, as we know, have dropped," a producer said.


The issue is likely to be taken up by producers at a meeting on Thursday to discuss the MIP regime, which is scheduled to end next month.

In the case of hot-rolled coil, 550,000 tonnes have been cleared below the MIP, 70 per cent of total import. In the case of CRCA (cold rolled, close annealed), half the volumes have been cleared below MIP; for coated galvanneal, all.


Though MIP has helped stem volumes to a great extent (48 per cent in May 2016 compared to May 2015 and 22 per cent in June 2016 compared to June 2015), the amount of import below MIP levels has alarmed the industry.


More so as in the past two months, steel prices have softened by Rs 500-1,900 a tonne. At the moment, though the monsoon is a lean period, no one is vouching for a recovery in prices. Still, prices are higher by about Rs 3,000 a tonne since the government stepped in with a safeguard duty and then the MIP.


A surge in cheaper import from China and countries with which we've signed a free trade agreement had cause severe stress in the industry. As of September 2015, the sector accounted for 21 per cent of the total number of corporate debt restructuring cases. Its share in total stressed accounts of scheduled commercial banks was 10-11 per cent. That's when the government stepped in to protect the industry.


'We are not out of the woods yet," a primary steelmaker said. China is to cut capacity by 150 million tonnes but that target is to be achieved by 2020.


"The government should review the loopholes and investigate all cases of misuse, and  make the MIP more effective," producers said. They added that import of API grade, out of the MIP ambit, had surged.

Steel imports continue below MIP levels, complain producers

Total imports in April-June were 1.75 million tonnes, of which 69 per cent were below MIP levels

Total imports in April-June were 1.75 million tonnes, of which 69 per cent were below MIP levels
It's almost six months since the government imposed a (MIP) of $341-752 a tonne on certain items but imports continue at prices lower than these, alleged the industry.

According to figures compiled by IBIS, a data collection agency cited by the industry, total imports in April-June were 1.75 million tonnes, of which 69 per cent were below MIP levels.


"MIP has been circumvented, either by extending LCs (letters of credit) or through imports under the Advance Authorisation Scheme and then regularising these with the licensing authorities through nominal interest payment, thereby avoiding the need to export. Exports, as we know, have dropped," a producer said.


The issue is likely to be taken up by producers at a meeting on Thursday to discuss the MIP regime, which is scheduled to end next month.

In the case of hot-rolled coil, 550,000 tonnes have been cleared below the MIP, 70 per cent of total import. In the case of CRCA (cold rolled, close annealed), half the volumes have been cleared below MIP; for coated galvanneal, all.


Though MIP has helped stem volumes to a great extent (48 per cent in May 2016 compared to May 2015 and 22 per cent in June 2016 compared to June 2015), the amount of import below MIP levels has alarmed the industry.


More so as in the past two months, steel prices have softened by Rs 500-1,900 a tonne. At the moment, though the monsoon is a lean period, no one is vouching for a recovery in prices. Still, prices are higher by about Rs 3,000 a tonne since the government stepped in with a safeguard duty and then the MIP.


A surge in cheaper import from China and countries with which we've signed a free trade agreement had cause severe stress in the industry. As of September 2015, the sector accounted for 21 per cent of the total number of corporate debt restructuring cases. Its share in total stressed accounts of scheduled commercial banks was 10-11 per cent. That's when the government stepped in to protect the industry.


'We are not out of the woods yet," a primary steelmaker said. China is to cut capacity by 150 million tonnes but that target is to be achieved by 2020.


"The government should review the loopholes and investigate all cases of misuse, and  make the MIP more effective," producers said. They added that import of API grade, out of the MIP ambit, had surged.

image

Ishita Ayan Dutt

Business Standard

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Steel imports continue below MIP levels, complain producers

mardi 26 juillet 2016

Our digital lives tomorrow

THE INEVITABLE
Understanding the 12 That Will Shape Our Future
Kevin Kelly


Penguin Random House
328 pages; Rs 699

Did you know that since the days of the Sumerian tablets, we humans have published or produced 310 million books, 1.4 billion articles/essays, 180 million songs, 3.5 trillion images and 330,000 movies?

Moreover, ordinary citizens now compose 80 million blog posts a day while 60 trillion pages have been added to the internet till date, a number that grows by several billion a day.

As the days pass, and our digital footprint expands, new technological forces are at work that will connect all the content we create or the worlds in which we live and change the very nature of how we interact with it.

Defining and understanding these 12 technological forces and how they will shape our future in the next 30 years is the thrust of The Inevitable, a must-read book written by Kevin Kelly, who helped start Wired magazine and was its editor for seven years.

Mr Kelly describes 12 forces; they range from "becoming", "accessing" and "flowing" to "sharing", "filtering", "cognifying", "interacting" and "tracking".

Flowing, for example, refers to our ever-increasing need for real-time information. Think how you can no longer wait for the end of the week or even the day for your bank to update your transaction statements or even how ATMs dispense instant cash.

Similarly, a whole bunch of content we consume, like music, photos and movies, is streaming to us. As the days pass, any other way of consuming it will seem more difficult. Some streams like Snapchat, WeChat and WhatsApp operate totally in the present, with no past or future. They just flow past, says Mr Kelly.

The next level: Could be more fluid, from the page where content will flow to fit any available space, from a tiny screen in a pair of glasses to a wall? And could the material be personalised with a student's edition looking different or the ability to skip a recap of previous books?

As large amounts of information get created, the focus shifts to accessing and sharing, not owning and controlling. To build on the now - a famous quote of Uber not owning cars and Facebook not owning content - the theme is now on owning fewer physical assets and accessing more digital assets that sit on the cloud.

Even collaboration is increasing. There are 650,000 people working on 500,000 projects for free at this time. Collaborations like this result in software like Apache or FedoraLinux9. Crowd-funding platforms like Kickstarter raised $34 billion last year for projects that could not have been funded otherwise.

Peer-to-peer lending - where I lend directly to you, as opposed to a bank doing so - is now worth over $10 billion, thanks to the concept of sharing.

The need for filtering these massive volumes of information and content will increase. Every month sees two million new books, 16,000 new films, 30 billion blog posts and 182 billion tweets. So, guiding you to the right digital destination also becomes critical.

Did you know that Netflix has 300 people working just on recommendations? And they have a budget of $150 million!

Addicted to wearable devices? Computer scientist already track 100 health parameters every day, including skin temperature and "galvanic" skin response. In the future, we are going to track ourselves with greater intensity than ever before. In the process, we will be able to diagnose our ills faster and reduce the dependence on medicine.

Mr Kelly says we are already being tracked across 25 parameters, from government databases to highway and street cameras to grocery purchases, online shopping, airline tickets, to, of course, fitness data that we generate from our devices back to our phones and the cloud.

We will add more sensors to our environment as the quest to understand it and our place in it gathers pace. Some 54 billion sensors will be manufactured every year in four years. These will be embedded in our cars, draped over our bodies and watching us at home and on streets.

All this data, 300 zillion bytes in the next decade, will be tracked, parsed and "cognified" by utilitarian Artificial Intelligence. Which brings us back to the power of this network and the challenges of ensuring all this data remains in safe hands.

It goes without saying that artificial intelligence and sophisticated robots will increasingly take over menial jobs. By 2050, says Mr Kelly, speedy bots will take over almost all warehouse movements, including loading goods into trucks which, in turn, will be self-driven.

There are many more examples, none of them too encouraging if you are in a job that could potentially be taken over by a robot or one that a robot can do better.

Virtual and Augmented Reality will become more commonplace in our knowledge and entertainment pursuits. Your laptop has cameras and screens are already beginning to follow your gaze. Smart software will adapt to what you are viewing depending if you are happy or upset.

The iconic sci-fi film Minority Report, directed by Steven Spielberg in 2002, triggered much discussion on the theme of "pre-crime", the ability to predict when a crime would happen.

As a precursor the film's making, Mr Spielberg had convened a meeting of technologists and futurists to brainstorm the features of everyday life in 50 years. Mr Kelly was part of the group and says he once thought the idea of pre-crime detection utterly unrealistic.

He says he does not, anymore.

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Our digital lives tomorrow

Rajinikanth's 'Kabali' joins Rs 200-cr club in India

Kabali has been dubbed in other languages like Hindi, Telugu and Malay

IANS  |  Chennai 

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Rajinikanth-starrer  on Tuesday entered the Rs 200 crore club and successfully became his second film after Enthiran to achieve the rare feat in the superstar's career.

"It's the fastest south Indian film to rake in over Rs 200 crore at the box office worldwide in just five days. As on Tuesday, Kabali has grossed Rs 205 crore and this includes the three languages in which the film was released," trade analyst Trinath told IANS.


In India, in its opening weekend, the film minted over Rs 100 crore.

"In the domestic market, the film collected a whopping Rs 128 crore from the opening weekend. It's the best ever opening for a south Indian film," he said.


Directed by Pa Ranjith, Kabali narrates the story of a gangster's shot at redemption and how he fights for equal pay rights for Tamils in Malaysia.


The Tamil film has been dubbed in other languages like Hindi, and Malay.

Rajinikanth's 'Kabali' joins Rs 200-cr club in India

Kabali has been dubbed in other languages like Hindi, Telugu and Malay

Kabali has been dubbed in other languages like Hindi, Telugu and Malay
Rajinikanth-starrer  on Tuesday entered the Rs 200 crore club and successfully became his second film after Enthiran to achieve the rare feat in the superstar's career.

"It's the fastest south Indian film to rake in over Rs 200 crore at the box office worldwide in just five days. As on Tuesday, Kabali has grossed Rs 205 crore and this includes the three languages in which the film was released," trade analyst Trinath told IANS.


In India, in its opening weekend, the film minted over Rs 100 crore.


"In the domestic market, the film collected a whopping Rs 128 crore from the opening weekend. It's the best ever opening for a south Indian film," he said.


Directed by Pa Ranjith, Kabali narrates the story of a gangster's shot at redemption and how he fights for equal pay rights for Tamils in Malaysia.


The Tamil film has been dubbed in other languages like Hindi, and Malay.
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IANS

Business Standard

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Rajinikanth's 'Kabali' joins Rs 200-cr club in India

lundi 25 juillet 2016

Yellow metal strikes Make in India gold

Govt proposes to develop gold mines, assures jewellery sector to address practical issues in bringing business above board

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The central government is considering how to promote gold mining and in getting more money into research and development for gold and jewellery.


Last weekend, at a convention organised by the Bullion Federation, Arjun Ram Meghwal, minister of state for finance, said the government would look into all concerns raised by the industry and to promote the 'Make in India' programme in jewellery.


Industry representatives have been assured a look at issues such as the flow of unaccounted money into gold, high duties and other items related to export.

Sources note that in the past six months, average monthly import has come down from 70 tonnes a month to 15 tonnes for the domestic market, along with a significant rise in export of gold jewellery. This is being described as 'round tripping', of gold being purchased at a discount and re-exported with a little value addition. 


The has asked that before the proposed national goods and services tax (GST) is implemented, the customs duty be cut to five per cent; the minimum excise in would be 14 per cent. The jewellery industry is still unable to digest a 12.5 per cent duty. 

The Federation, which has leading dealers and importers as members, has said its members will bill all details of gold bar numbers and the relevant refinery, to make transactions above board. There are otherwise many cases where, on a single bill, gold moves four times, and even for unaccounted gold, one bill is used. Mentioning the bar number and refinery details will remove this practice. 


The Federation has also asked for allowing the export of bullion by nominated import agencies, including banks. And, to consider primary bullion as currency, while treating jewellery as goods.


The government has asked the Federation for a list of all such issues, with explanations and possible solutions, within a month. 


The had a meeting with the prime minister last Saturday, in which he'd urged them to llok beyond the domestic market and to embrace innovation and technology.

For much of the past six months, gold is being quoted at a discount to the import price, much more than last year. A discount represents over-supply and dealers say unaccounted gold is coming from old stocks, along with smuggled gold. Which is also why official import have halved in the first six months of 2016.

Yellow metal strikes Make in India gold

Govt proposes to develop gold mines, assures jewellery sector to address practical issues in bringing business above board

Govt proposes to develop gold mines, assures jewellery sector to address practical issues in bringing business above board

The central government is considering how to promote gold mining and in getting more money into research and development for gold and jewellery.


Last weekend, at a convention organised by the Bullion Federation, Arjun Ram Meghwal, minister of state for finance, said the government would look into all concerns raised by the industry and to promote the 'Make in India' programme in jewellery.


Industry representatives have been assured a look at issues such as the flow of unaccounted money into gold, high duties and other items related to export.


Sources note that in the past six months, average monthly import has come down from 70 tonnes a month to 15 tonnes for the domestic market, along with a significant rise in export of gold jewellery. This is being described as 'round tripping', of gold being purchased at a discount and re-exported with a little value addition. 


The has asked that before the proposed national goods and services tax (GST) is implemented, the customs duty be cut to five per cent; the minimum excise in would be 14 per cent. The jewellery industry is still unable to digest a 12.5 per cent duty. 

The Federation, which has leading dealers and importers as members, has said its members will bill all details of gold bar numbers and the relevant refinery, to make transactions above board. There are otherwise many cases where, on a single bill, gold moves four times, and even for unaccounted gold, one bill is used. Mentioning the bar number and refinery details will remove this practice. 


The Federation has also asked for allowing the export of bullion by nominated import agencies, including banks. And, to consider primary bullion as currency, while treating jewellery as goods.


The government has asked the Federation for a list of all such issues, with explanations and possible solutions, within a month. 


The had a meeting with the prime minister last Saturday, in which he'd urged them to llok beyond the domestic market and to embrace innovation and technology.

For much of the past six months, gold is being quoted at a discount to the import price, much more than last year. A discount represents over-supply and dealers say unaccounted gold is coming from old stocks, along with smuggled gold. Which is also why official import have halved in the first six months of 2016.

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Rajesh Bhayani

Business Standard

177 22

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Yellow metal strikes Make in India gold

Too steep to brew: Tea prices on the boil

While pan-India e-auction of tea has brought in more buyers into the system, fall in production has pushed prices by 8%

Sohini Das  |  Ahmedabad 

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Tea prices brew up
are up by eight per cent this season, with the second quality hitting the market, coupled with a fall in production.

'First flush' tea is harvested in late March; the 'second flush', considered superior in quality, is picked in late June (there is also 'monsoon flush', picked after the onset of rain).

The industry says a 43 per cent drop in production in May in South India would have pushed up prices further, had Kochi-based buyers not boycotted e-auctions. That boycott resulted in a piling up of an inventory of about four million kilo, which is why prices in the south are still low at an average of Rs 95 a kilo. 
 

Following the Tea Board’s order, e-auction was made mandatory from June 23 at all the major auction centres  - Kolkata, Guwahati, Siliguri, Kochi, Coimbatore and Coonoor. The system integrates the process, from invoice creation to delivery from warehouses, enabling better control. 


Santosh Kumar Sarangi, chairman, Tea Board of India, says prices were Rs 81-82 a kilo in the south last year around the same time. “This time, while average prices would be around Rs 95 a kilo (there), they've touched Rs 105-115 a kilo for some varieties,” he said. 


In the north, the average is Rs 129-130 a kilo at the moment, a rise of seven to eight per cent from last year. 


The Tea Board is mulling a meeting soon with the buyers in Kochi, who have stayed away from participating in the pan-India e-auctions. “Kochi as a centre traditionally has been handling smaller lots compared to the rest of India. They had issues related to allowing smaller lots for auctions and that we are considering. We are hopeful they'd soon participate in the auctions,” said Sarangi. 


Some of the provisions in the new pan-India e-auction rules, such as division of lots, absence of any terms in splitting the lots and banning of proxy bidding were why some traders have opposed the auctions, especially at Kochi. 


While some insiders feel the pan-India auctions have pushed up prices, Azam Monem, whole-time director at McLeod Russel, said prices are always a factor of demand and supply. “Auctions have brought more buyers into the system. But, production is down both in north and south. Prices, as a result, are up.”

Too steep to brew: Tea prices on the boil

While pan-India e-auction of tea has brought in more buyers into the system, fall in production has pushed prices by 8%

While pan-India e-auction of tea has brought in more buyers into the system, fall in production has pushed prices by 8%
are up by eight per cent this season, with the second quality hitting the market, coupled with a fall in production.

'First flush' tea is harvested in late March; the 'second flush', considered superior in quality, is picked in late June (there is also 'monsoon flush', picked after the onset of rain).


The industry says a 43 per cent drop in production in May in South India would have pushed up prices further, had Kochi-based buyers not boycotted e-auctions. That boycott resulted in a piling up of an inventory of about four million kilo, which is why prices in the south are still low at an average of Rs 95 a kilo. 
 

Following the Tea Board’s order, e-auction was made mandatory from June 23 at all the major auction centres  - Kolkata, Guwahati, Siliguri, Kochi, Coimbatore and Coonoor. The system integrates the process, from invoice creation to delivery from warehouses, enabling better control. 


Santosh Kumar Sarangi, chairman, Tea Board of India, says prices were Rs 81-82 a kilo in the south last year around the same time. “This time, while average prices would be around Rs 95 a kilo (there), they've touched Rs 105-115 a kilo for some varieties,” he said. 


In the north, the average is Rs 129-130 a kilo at the moment, a rise of seven to eight per cent from last year. 


The Tea Board is mulling a meeting soon with the buyers in Kochi, who have stayed away from participating in the pan-India e-auctions. “Kochi as a centre traditionally has been handling smaller lots compared to the rest of India. They had issues related to allowing smaller lots for auctions and that we are considering. We are hopeful they'd soon participate in the auctions,” said Sarangi. 


Some of the provisions in the new pan-India e-auction rules, such as division of lots, absence of any terms in splitting the lots and banning of proxy bidding were why some traders have opposed the auctions, especially at Kochi. 


While some insiders feel the pan-India auctions have pushed up prices, Azam Monem, whole-time director at McLeod Russel, said prices are always a factor of demand and supply. “Auctions have brought more buyers into the system. But, production is down both in north and south. Prices, as a result, are up.”

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Sohini Das

Business Standard

177 22

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Too steep to brew: Tea prices on the boil

Auto-rickshaw: Yesterday, today and tomorrow

The 3-wheeler is as old as 60 and has transformed into one of the most reliable urban modes of transportation

Megha Manchanda  |  New Delhi 

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The next time you hop on a 3-wheeler, spare a thought to its history. Our humble 3-wheeler or auto rickshaw, as we colloquially call it, is as old as 60 and has transformed into one of the most reliable urban modes of transportation. One of the most widely-used modes of transportation in metropolitan cities like Delhi, Mumbai and Bangalore, these 3-wheelers have given taxis a run for their money on more than one occasion. So much so, that the app-based taxi services tied up with auto wallahs to bring them on board. Both Uber and Ola currently function as taxi and auto ...

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Auto-rickshaw: Yesterday, today and tomorrow

dimanche 24 juillet 2016

Dark history of the Olympics

The true history of the games is a far cry from the platitude-laden, sepia-toned nostalgia pumped out by the International Olympic Committee and sponsors

Mary Pilon 

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THE GAMES A Global History of the Olympics David Goldblatt W.W. Norton & Company 516 pages; $29.95 In the late 19th century, Pierre de Coubertin, a French aristocrat, found his life's goal: to create a sporting culture that existed separate from political concerns. And in 1896, with the staging of the first modern Olympic Games, Coubertin got his wish. Sort of. In ancient Greece, athletic endeavours were seen as an important preparation for war, but Coubertin's gathering in Athens was a more clumsy affair, with 241 athletes, all white and male, competing in nine sports over ...

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samedi 23 juillet 2016

Kabali beats Sultan hands down, smashes box office records

Rajanikanth starrer dubbed in multiple languages pulls in record Rs 50-55 crore on opening day

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The 65-year-old Tamil superstar Rajinikanth shattered box-office records on Friday with his film pulling in Rs 50-55 crore on opening day, the biggest for an Indian film this year. 

The figure includes collection from domestic and international markets and takes into account all languages in which the movie was released.


Salman Khan’s Sultan, which had the earlier distinction of opening to the highest first-day collection this year at Rs 36.54 crore, was only available in Hindi.

Two-day collections of Kabali are expected to surpass Rs 100 crore, according to sources.


Produced on a budget of Rs 110 crore, the third-costliest Rajini movie after Robot (Rs 200 crore) and Kochadaiiyaan (Rs 125 crore), Kabali was released in 10,000 screens, 6,000 in international markets, D Paranthaman, CEO, V Creations, the producer of Kabali, had told Business Standard earlier.


According to Taran Adarsh, film critic and business analyst, preview shows of Kabali in Tamil and Telugu generated collections of nearly Rs 13 crore in the and Canada. He described this as an epic start for the film.

Adarsh said Kabali had emerged number one in Malaysia taking into account Tamil and Telugu opening-day collections in that country and was number three in the US and Canada.


Sources said the version of Kabali dubbed in Hindi made Rs 5.2 crore net after tax on opening day, surpassing the record held by SS Rajmouli's Baahubali. The Telugu film starring Prabhas and Rana Dagubatti released worldwide on July 10, 2015, collecting close to Rs 5 crore for the Hindi dub that day.


Baahubali also holds the record for being the most successful regional film in India, with a lifetime collection of Rs 120 crore for the Hindi dub.


Kabali’s Hindi version was released in nearly 1,000 screens, fewer than Baahubali's 1,500, but it could surpass the latter's lifetime collection if the Rajini magic continues. The dubbed Hindi version of Kabali is distributed by Fox Star Studios.


Online tickets gone in minutes


The Kabali fever saw movie tickets being snapped up both online and offline. BookMyShow, one of the largest domestic online movie ticket sellers, said Kabali would be among its top five films in ticket sales.


“After the first three days, online sales have been phenomenal and the film is sold out in most cinemas,” said Ashish Saksena, COO, cinemas, BookMyShow.


Paytm, which is selling Kabali tickets, said the opening weekend was sold out within hours. "Chennai and Hyderabad led the way to becoming our largest cities in the last three days," said Renu Satti, vice-president, Paytm.


Paytm said as many as 10 tickets were being booked on its app at a time against the norm of 2-4 tickets per transaction. It has also received multiple requests for booking complete shows of Kabali.


Online marketplace Snapdeal, which recently tied up with BookMyShow, is offering discounts for buying Kabali tickets on its app.

Kabali beats Sultan hands down, smashes box office records

Rajanikanth starrer dubbed in multiple languages pulls in record Rs 50-55 crore on opening day

Rajanikanth starrer dubbed in multiple languages pulls in record Rs 50-55 crore on opening day
The 65-year-old Tamil superstar Rajinikanth shattered box-office records on Friday with his film pulling in Rs 50-55 crore on opening day, the biggest for an Indian film this year. 

The figure includes collection from domestic and international markets and takes into account all languages in which the movie was released.


Salman Khan’s Sultan, which had the earlier distinction of opening to the highest first-day collection this year at Rs 36.54 crore, was only available in Hindi.


Two-day collections of Kabali are expected to surpass Rs 100 crore, according to sources.


Produced on a budget of Rs 110 crore, the third-costliest Rajini movie after Robot (Rs 200 crore) and Kochadaiiyaan (Rs 125 crore), Kabali was released in 10,000 screens, 6,000 in international markets, D Paranthaman, CEO, V Creations, the producer of Kabali, had told Business Standard earlier.


According to Taran Adarsh, film critic and business analyst, preview shows of Kabali in Tamil and Telugu generated collections of nearly Rs 13 crore in the and Canada. He described this as an epic start for the film.

Adarsh said Kabali had emerged number one in Malaysia taking into account Tamil and Telugu opening-day collections in that country and was number three in the US and Canada.


Sources said the version of Kabali dubbed in Hindi made Rs 5.2 crore net after tax on opening day, surpassing the record held by SS Rajmouli's Baahubali. The Telugu film starring Prabhas and Rana Dagubatti released worldwide on July 10, 2015, collecting close to Rs 5 crore for the Hindi dub that day.


Baahubali also holds the record for being the most successful regional film in India, with a lifetime collection of Rs 120 crore for the Hindi dub.


Kabali’s Hindi version was released in nearly 1,000 screens, fewer than Baahubali's 1,500, but it could surpass the latter's lifetime collection if the Rajini magic continues. The dubbed Hindi version of Kabali is distributed by Fox Star Studios.


Online tickets gone in minutes


The Kabali fever saw movie tickets being snapped up both online and offline. BookMyShow, one of the largest domestic online movie ticket sellers, said Kabali would be among its top five films in ticket sales.


“After the first three days, online sales have been phenomenal and the film is sold out in most cinemas,” said Ashish Saksena, COO, cinemas, BookMyShow.


Paytm, which is selling Kabali tickets, said the opening weekend was sold out within hours. "Chennai and Hyderabad led the way to becoming our largest cities in the last three days," said Renu Satti, vice-president, Paytm.


Paytm said as many as 10 tickets were being booked on its app at a time against the norm of 2-4 tickets per transaction. It has also received multiple requests for booking complete shows of Kabali.


Online marketplace Snapdeal, which recently tied up with BookMyShow, is offering discounts for buying Kabali tickets on its app.

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TE Narasimhan, Urvi Malvania & Karan Choudhury

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Kabali beats Sultan hands down, smashes box office records

'Kabali' has created all time history across globe, claims producer

Producer, K S Thanu, says official collection figure is awaited but the film has easily collected Rs 100 crore on its opening day

Press Trust of India  |  New Delhi 

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Megastar Rajinikanth-starrer "Kabali", which released amid much fan frenzy yesterday, has created history by becoming the biggest Indian opener of all time, according to producer 'Kalaipuli' S Thanu.

The film directed by P A Ranjith, is a gangster drama and also stars Radhika Apte, Dhanshika and Kalaiarasan in key roles.

Thanu says the official collection figure is awaited but the film has easily collected Rs 100 crore on its opening day.

"It is god's blessing that the film is doing so well. The collection is amazing not only in India but all over the world. Language does not seem to be a barrier as everyone is coming to see the film.

"It has created history and an all time record all over the world. The collection figure is awaited but I am assuming it has easily made Rs 100 crore on the first day," Thanu told PTI.

The producer said the film was released in approximately 8000-10000 screens all over the world, which includes 480 screens in the US, 490 in and above 500 in Gulf countries.

"It is the best collection an Indian actor has ever had. It shows that there is only one superstar and that is Rajinikanth."

Talking about tackling piracy, Thanu says, "It is a menace done by some anti-social elements. But the collection of the film is extraordinary."

Thanu first met Rajinikanth in 1978 when he was the distributor of the actor's movie "Bairavi". In 1984 when Thanu turned producer with Arjun starrer "Yaar", Rajinikanth appeared in a cameo in the film.

The producer says they have remained friends ever since and share an "amazing connection" with each other.

"I am collaborating with him again after 32 years. We share am amazing connection, it is extraordinary."

When about Rajinikanth's last two movies "Kochadaiiyaan" and "Lingaa" not having done well at the box office, Thanu says, 'Kochadaiiyaan' only featured his voice. It was not really a film in which he starred.

"And the collection of 'Lingaa' was good. There were all kinds of rumours but the film earned well. The film collected more than Rs 40 crores.

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'Kabali' has created all time history across globe, claims producer

vendredi 22 juillet 2016

Melania Trump: Walking to Washington

Far from the modelling ramp in small-town Slovenia, Melania Trump now stands on the cusp of becoming America's next first lady

Jason Horowitz 

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On days when Melanija Knavs could not play outside or grew tired of knitting her navy blue sweaters, she and her friends would exchange notes along the lines of yarn they strung between their apartment block balconies. In clear handwriting, Melanija mused about the boys of her dreams. She could not have seen what was coming. Melanija Knavs is now Melania Trump, and she is one election away from being the first foreign-born first lady since Louisa Adams. She addressed millions of Americans on Monday night in a televised speech at the Republican National Convention in Cleveland. But ...

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The next booms, busts and protests

With a focus on change in five to ten years, Ruchir Sharma's new book, The Rise and Fall of Nations, manages to make a persuasive case for a general audience

Sajjid Z Chinoy 

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THE RISE AND FALL OF NATIONS Ten Rules of Change in the Post-Crisis World Author: Ruchir Sharma Publisher: Penguin Price: Rs 799 Pages: 443 There is much to like about the The Rise and Fall of Nations by Ruchir Sharma. For starters, the author paints on a broad canvas, speaking with equal ease about developed markets and emerging markets alike, from the United States to Uruguay, and from Chile to China. He starts by highlighting the "impermanence" of economic phenomena and the consequent fallacy of engaging in straight-line forecasting, something markets got caught up with ...

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The next booms, busts and protests

Radhika Menon saved seven lives at sea

Nikita Puri 

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Amid reports of fishermen drowning in the turbulent Bay of Bengal last year, the second officer of Sampurna Swarajya, an oil products tanker, spotted a boat off the coast of Gopalpur, Odisha. Following engine failure and loss of anchor in severe weather, this fishing boat called Durgamma had long lost sight of the shore after it drifted away from Kakinada, Andhra Pradesh. The seven men on the boat - the youngest a boy of 15 and the oldest a 50-year-old - had given up any hope of survival. All their food and water had been washed away, and they were surviving on ice from the cold storage. ...

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Radhika Menon saved seven lives at sea