Legislation to bring down the Philippines' corporate income tax rate and overhaul the country's fiscal incentives has been tabled in the House of Representatives.

Corporate tax reform in the Philippines has moved a step closer with the introduction of House Bill No. 7458 into the country's parliament.

Business leaders in the Philippines say they fully support the Duterte Administration's proposed corporate tax reforms and investment incentives package.

Benjamin Diokno, the Philippines' Budget and Management Secretary, says the Government should secure the passage of all the remaining comprehensive tax reform bills within the next two months.

The Philippines' House Committee On Ways and Means has approved a Bill that would overhaul the rates in place on financial services and passive income.

The Vinoba Bhave Nagar police arrested a 34-year-old man for allegedly stealing batteries placed inside ATM centers as a power back up. The accused identified as Tawab Ali Jaffer Ali Shaikh, who was once an owner of a petrol pump was caught in a vicious circle of drugs settled on stealing batteries to finance his addiction. When produced in court today, he was remanded to judicial custody.

The VB Nagar police received a piece of information that a man in his 30s will be stealing batteries placed as a power back up for ATMs. Acting on the tip-off, the police team activated their informer network to find out about an unidentified man showing CCTV footage while stealing in Ghatkopar, Vakola, and Kurla.

Senior Inspector Rajesh Pawar formed a team under the leadership of Assistant Police Inspector Bapu Salunkhe. "An informer told us that the person in CCTV is Tawab Ali Jaffer Ali Shaikh, a resident of Kurla (W). We tracked him down and arrested him on Sunday," said an officer from VB Nagar Police station.

After interrogating Tawab, the police officials found the shocking story of his downfall. "Whatever information we have been able to gather from him and his elder brother, Tawab belongs to an affluent family that had ownership of a petrol pump at Reay Road. The family was well off making a handsome income," told an officer. "Tawab studied till 12th standard and then got married. He has two kids," the officer added.

"Four years back Tawab got addicted to drugs. Initially, he was taking synthetic ones but as his finances dried down he started taking Mephedrone (MD)," said another officer. "But, for a few months, as he couldn't afford MD too, he started with taking buttons (sleeping tablets). For this, he was stealing batteries," added the officer.

"In such an attempt, he was caught in the CCTV camera in which he was seen stealing batteries and keeping them inside his SUV. He was arrested on Sunday and while searching we have found a German-made revolver, a screwdriver, and knife," said Rajesh Pawar, Senior Inspector VB Nagar Police station.

Tawab was booked under Arms Act and was produced in Kurla Court on Monday where he was sent in judicial custody. The police are now in process to book him for theft of batteries and will seek his custody again for further investigation.

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The government on Sunday prohibited the sale of non-essential items through e-commerce platforms during the ongoing lockdown, four days after allowing such companies to sale mobile phones, refrigerators and ready-made garments. Union Home Secretary Ajay Bhalla issued an order excluding the non-essential items from sale by the e-commerce companies from the consolidated revised guidelines, which listed the exemption given to the services and people from the purview of the lockdown.

The order said the following clause -- "E-commerce companies. Vehicles used by e-commerce operators will be allowed to ply with necessary permissions" -- is excluded from the guidelines.

The previous order had said such items were allowed for sale through e-commerce platforms from April 20. However, the reason for reversing the order is not known immediately.

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Cricketer-turned-BJP MP Gautam Gambhir performed the last rites of his domestic help - a nanny who Gambhir called as "family", prompting Union minister Dharmendra Pradhan to thank him for his "compassion". The deceased, identified as Saraswati Patra was working with the Gambhirs for a few years now.

On Thursday, Gambhir tweeted: "Taking care of my little one can never be domestic help. She was family. Performing her last rites was my duty. Always believed in dignity irrespective of caste, creed, religion or social status. Only way to create a better society. That's my idea of India! Om Shanti."

Patra was with the Gambhir family for six years and breathed her last amid the nationwide lockdown. Patra was reportedly battling diabetes and blood pressure and was admitted at a private hospital in New Delhi.

Patra was from Jajpur district of Odisha. BJP minister from Odisha Pradhan tweet his gratitude towards Gambhir. He said: "Taking care of Saraswati throughout the course of her illness, he also ensured her dignity in death by performing her last rites himself since her mortal remains could not be sent to her family back home in Odisha. Thank Shri @GautamGambhir for this humanitarian gesture."

Pradhan added, as a fellow Odia, "His act of compassion will enliven the faith in humanity for millions of poor, who are working far from their homes for livelihood and will garner respect from all folds of society."

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A prolonged lockdown may possibly push millions of Indians into the "margins of subsistence", former RBI Governor Duvvuri Subbarao said on Sunday while expecting a 'V' curved recovery once the COVID-19 crisis ends and the turnaround in India to be faster than some economies.

He was participating in a webinar on 'History repeats but differently – Lessons for the post Corona World', organised by the Manthan Foundation, in which former deputy governor of RBI, Usha Thorat took part.

"Because most analysts believe that this year India will actually have negative growth or growth will contract. We must remember that even ahead of the crisis two months ago our growth slowed. Now it has completely stopped. Last year growth was five per cent. Just imagine, five per cent growth last year and we are going to negative or zero growth this year, a decline of five per cent growth," he said. "It is true that India is going to perform in this crisis better than most other countries. But that is no consolation.... Because we are a very poor country and if the crisis persists and if the lockdown is not lifted soon enough, it is quite possible that millions of people will be pushed into the margins of subsistence, he said when asked about his views on the present situation.

Subbarao said that as predicted by analysts, India will have a V shaped recovery which is far better than most of the other countries. "And why do we expect a 'V' shaped recovery? Because unlike in a cyclone or in an earthquake, this is not a natural disaster constraint. No capital has been destroyed. Factories are standing. Our shops are still standing. Our people are ready to work as soon as the lockdown is lifted. So it is quite possible the recovery will be V shaped and while we have a V shaped recovery, I think India has a better chance than most of the countries," he opined.

According to him, India's recovery was faster than many other countries after the 2008 global financial crisis. On IMF's prediction that India may grow at 1.9 per cent during the current year against about five per cent in the last fiscal, Subbarao said many analysts feel that the
prediction is outdated and the growth in GDP may slip into negative. Agencies

826
Total no. of deaths due to the virus in India

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Amid the rising number of coronavirus cases in Maharashtra, the India Meteorological Department (IMD) issued a thunderstorm warning in several parts of the state for the next five days till May 1. IMDs Mumbai centre issued warning for 15 state across Maharashtra include places such as Kolhapur, Pune, Raigad, Satara, Sangli, and Latur among others.

WEATHER INFO-
Nowcast warning issued at 1515 Hrs IST Dated 28/04/2020
Thunderstorm accompanied with Lightning, Rain and Gusty winds with speed reaching 30-40 kmph likely to occur at isolated places in the district of Nanded and Hingoli during next 4 hours.

-IMD MUMBAI pic.twitter.com/Z70XbHQNeT

— K S Hosalikar (@Hosalikar_KS) April 28, 2020

While speaking to Mumbai Mirror, K S Hosalikar, deputy director general of meteorology, India Met Department said that the thunderstorms warning predicted by IMD is for the next five days until May 1. According to IMDs weather bulletin, thunderstorms accompanied by lightning, aand rains will occur in several parts of Maharashtra amid the COVID-19 crisis.

Thunderstorm warnings by IMD today for Maharashtra for coming 5 days.
29 & 30 April, watch for severe TS in Madhya Maharashtra, south side with possibilities of hailstorms in some areas.
Pl Watch for all weather updates & nowcast warnings further daily.
Take appropriate care pl. pic.twitter.com/fK9HIsnr3P

— K S Hosalikar (@Hosalikar_KS) April 28, 2020

"Nowcast warning issued at 1515 Hrs IST Dated 28/04/2020. Thunderstorm accompanied with Lightning, Rain and Gusty winds with speed reaching 30-40 kmph likely to occur at isolated places in the district of Nanded and Hingoli during next 4 hours. - IMD," Hosalikar tweeted.

The IMD also stated that on April 29 and 30, there will be severe thunderstorms in Madhya Maharashtra, south side with possibilities of hailstorms in some areas. In an earlier tweet, Hosalikar urged people to follow all necessary safety guidelines during lightning/thunder issued by DM GoM and NDMA. He also urged farmers to look after their crops.

Thunderstorm warnings in Maharashtra for coming 5 days by IMD.
Keep watch on updates & pl follow up Nowcast warnings that would be issued daily afternoon onwards.
Request follow all necessary Safety Guidelines during lightning/thunder issued by DM GoM and NDMA.
TC of Crops too. pic.twitter.com/7bzT3rIO0D

— K S Hosalikar (@Hosalikar_KS) April 27, 2020

He said that the quality of air during the lockdown in Mumbai and Pune has been good. Throwing light on Mumbai's weather, IMD said that the maximum temperature in Mumbai on Tuesday was 35 degree Celsius, while the minimum temperature was 26 degree Celsius. IMD also stated that Mumbai will witness clear skies with a relative humidity of about 74 percent in Santacruz and 88 percent in Colaba.

While the total number of coronavirus cases in India reached 29,435, Maharashtra continues to remain the worst state with nearly 9,000 cases in the state.

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Uttar Pradesh Police on Monday registered an FIR against independent MLA from Nautanwa Aman Mani Tripathi and his six associates for stepping out without having a valid pass during COVID-19 lockdown.

They were returning from Uttarakhand and were detained in the Nazibabad area of Bijnor district. Superintendent of Police (SP) Bijnor Sanjeev Tyagi said, "He was not authorised by Uttar Pradesh government to go to Uttarakhand. He was out unnecessarily and did not have a valid pass. Action is being taken. He will be quarantined and tested."

No weapons were recovered from the seven, added the SP. Tripathi and others were earlier arrested by the Uttarakhand Police on Sunday allegedly for violating lockdown norms and misbehaving with government officials.

After the arrest, they were served a notice and were sent back to Uttar Pradesh. The incident had occurred at Gauchar of Chamoli district where his entourage was stopped for screening by the officials on duty. Tripathi, along with 10 others, was on a trip to Badrinath and Kedarnath.

Uttarakhand DG, Law and Order, Ashok Kumar had told ANI that an FIR has been registered against Tripathi and 11 other persons under Sections 188, 269 and 270 of the Indian Penal Code, Disaster Management Act and Epidemic Disease Act.

The Uttar Pradesh government had clarified on Monday that it did not authorise Tripathi to travel to Uttarakhand.

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Lady Gaga on Sunday kicked off the virtual concert One World: Together At Home online with her soulful Smile performance. According to Variety magazine, Smile is a classic majorly popularised by Jimmy Durante and Nat King Cole.

The musician had co-ordinated with the leaders from the World Health Organisation (WHO) and other musicians to begin the show.

Lady Gaga started the show by asking viewers to put their wallets aside as the show wasn't a fundraiser and didn't ask for donations. The online concert was organised to express gratitude towards the frontline workers in the fight against COVID-19.

Terming the special show as the 'love letter to the world,' the pop star shared pictures and videos of other performers as well.

Over 70 artists and celebrities from across the globe had joined the WHO's initiative of the online concert to thank and celebrate the healthcare workers fighting the pandemic.

According to The Hollywood Reporter, the virtual concert raised over USD 127 million for the relief efforts of COVID-19.

Some of the artists that were a part of the show are Elton John, Lizzo, Jennifer Lopez, Taylor Swift, Madonna, Priyanka Chopra, Shah Rukh Khan, Celine Dion, and the Rolling Stone.

The show was hosted by the most popular hosts Jimmy Kimmel, Jimmy Fallon, and Stephen Colbert.

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Taylor Swift won millions of hearts with her performance of hope at the virtual concert One World: Together At Home where she performed Soon You'll Be Better.

According to E! Online, the Grammy winner musician didn't use words but the lyrics of her song and her music to do the talking while she expressed gratitude towards the frontline workers during the show.

The singer was seen spreading a ray of hope as she sang, "Soon you'll be better, cause you have to."

Over 70 artists and celebrities from across the globe had joined the WHO's initiative of the online concert to thank and celebrate the healthcare workers fighting the pandemic.

Some of the artists that were a part of the show are Elton John, Lizzo, Jennifer Lopez, Lady Gaga, Madonna, Priyanka Chopra, Shah Rukh Khan, Celine Dion, and the Rolling Stone.

According to The Hollywood Reporter, the virtual concert raised over USD 127 million for the relief efforts of COVID-19.

The show was hosted by the most popular hosts Jimmy Kimmel, Jimmy Fallon, and Stephen Colbert.

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Actor Tom Hardy, 42, had to havily work on his look in order to play gangster Al Capone in the upcoming biopic "Capone", as revealed in a new behind-the-scenes photo.

Photographer Greg Williams shared a new behind-the-scenes photo of Hardy that shows his transformation to play an aging Capone after an extensive make-up process, reports dailymail.co.uk.

 

 

 

View this post on Instagram

Capone May 12 Chasing Fonzo ♠ï¸ÂðŸ”¥

A post shared by Tom Hardy (@tomhardy) onMay 2, 2020 at 12:12pm PDT

Hardy also took to Instagram to share the new poster for "Capone", which will release digitally on May 12.

Williams also praised the "amazing make-up" by Audrey Doyle, who served as the make-up and prosthetics designer to Hardy on the movie.

Capone was 48 years old when he died in Palm Island, Florida in January 1947, so the make-up aged the 42-year-old actor slightly for the role.

"Capone" follows the last year of the mobster's life, as he settles down in Florida after spending 10 years behind bars.

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The Pune police arrested a man for beating his sister's former lover to death in Pimpri-Chinchwad on Tuesday for opposing her marriage with another man. Police said that the man got into a fight with his sister's former boyfriend and hit him with a metal pipe, thereby killing him instantly.

According to Hindustan Times, the assailant, identified as Santosh Chaudhury allegedly had a tiff with his sister's former lover, Yuvak Waghmare (22). Waghmare had opposed the girl's marriage to another man. The girl's brother Chaudhury was furious with Waghmare as he had learned that her sister ended her relationship with him after she got know that he is already married.

Senior police inspector Vivek Lawand of Dighi police station said, "The girl parted with Waghmare after realising that he is married and also has a daughter." However, Waghmare still wanted to marry the girl and hence he planned to have a talk with her brother Santosh Chaudhury in connection with his sister's wedding to another man.

Waghmare on Tuesday approached Chaudhury while he was at his paan shop outside Hotel Ajinkya in Magazine chowk. Both had heated argument over the impending wedding of Chaudhury's sister and got into a fight. Chaudhury, in a fit of rage, bludgeoned Waghmare’s head with a metal pipe that killed him instantly. The body was later taken to Yashwantrao Chavan Memorial Hospital for post-mortem.

As per the police, the deceased Waghmare was working for a consultancy and was deployed in the operations department of a mall in Vimanagar, whereas Chaudhury, who is in his twenties, hails from Bihar and runs a paan shop in Dighi.

Chaudhury has been was arrested on Tuesday by officials of the Dighi police station and a case has been registered against him under Section 302 (murder) of the Indian Penal Code (IPC). 

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Sanjay Mishra starrer Kaamyaab hit the screens on 6th March 2020. The film captured the journey of the character actors. Recently, The Alchemist author Paulo Coehlo praised the film and his performance.

Taking to Twitter, he said, “The producers thank you in the very 1st frame, @iamsrk. I am doing the same. 2 days ago a great Brazilian actor, Flavio Migliaccio, committed suicide, leaving a note on how the industry treats their artists. This movie, labeled as “comedy”, is in fact the tragedy of Art.”

Shah Rukh Khan was quick to respond to his tweet. As the presenter of the film, he said, “Saw the film when it was doing Festival rounds and it touched a chord with the whole team at @RedChilliesEnt Am so moved you appreciate. It’s a sad truth that character actors get forgotten. Look after yourself my friend and be safe & healthy.”

Sanjay Mishra recently spoke to a daily and said that when the emotions of a film connect, language is not the issue. He said that though neither he nor his mother have read Paulo’s books, he told her that he is a well-known author. She said to Sanjay that his father would be proud of him. He said that he received congratulatory messages from his father’s civil services colleagues too.

As Paulo mentioned how a Brazilian actor committed suicide, Sanjay revealed that many of his friends are currently jobless due to lockdown. He said that those who have jobs could lose it one day but some of them didn’t even have it to begin with. He further said this goes for the senior artistes who get written off irrespective of their contribution to the cinema. Sanjay Mishra said that an actor is also society’s responsibility.

The story revolves around how a character actor after his retirement is all set to make a record of 500 films and continue his hustle. Sanjay Mishra and Deepak Dobriyal starred n the film as Mishra had undergone a prosthetics transformation for every character shown on-screen.

Kaamyaab had its world premiere at the Busan International Film Festival followed by screenings at Festival du film d'Asie du Sud Paris, New York City South Asian Film Festival, Indian Film Festival of Melbourne, Shanghai International Film Festival, as well as the MAMI Mumbai Film Festival.

ALSO READ: Author Paulo Coelho appreciates Shah Rukh Khan for Kaamyaab; actor reveals why he produced it

Kartik Aaryan’s last performance was with Sara Ali Khan in Love Aaj Kal and it was his best performance so far. He got to explore a lot of new aspects of himself as an actor when he played the characters of Veer and Raghu in the Imtiaz Ali’s directorial. The actor took to his Instagram to write a heartfelt note of gratitude to the director and thanked him for all his support so far.

He posted the picture with the caption, “When you first dream of being in films, you act in front of the mirror and nail it every time, and the world of movies seems magical. 
Then you get a movie. You see the camera and are unnerved. It’s bigger than the suitcase you brought to Mumbai. The bright lights seem to be scolding you for not landing on a one inch tape mark and wasting everyones time. The first few years become about trying not to look nervous. 
Then you get an Imtiaz Ali movie. The moment he narrates the story, you are pulled into a dream. I don’t even remember seeing the camera on his set, he‘d always be standing wherever I looked after cut. He was never at the monitor, he was by my side. The lights on Imtiaz Ali’s set help you find those tape marks.

I have never experienced the kind of love and appreciation I have got for my performance in Love Aaj Kal, and that too from some of my favourite filmmakers and people I most respect in the industry. How ironic that the making of this film felt most effortless! It would scare me to think of doing two characters in one movie. And here, I didn’t even realise how smoothly I was being transitioned between #Veer and #Raghu . For an actor, there is no better environment than being In front of that mirror. Imtiaz Ali takes you there. This is the reason why so many great actors’ greatest performances have been in Imtiaz Ali films. Imtiaz Ali director nahi hain, jadugar hain! Thank you sir for giving me the best performance of my career yet. ❤️ @imtiazaliofficial #LoveAajKal”

 

View this post on Instagram

 

A post shared by KARTIK AARYAN (@kartikaaryan) on May 7, 2020 at 10:48pm PDT

Kartik Aaryan will next be seen in Bhool Bhulaiyaa and Dostana 2.

Also Read: Kartik Aaryan describes his quarantine routine as his sister takes a sweet revenge and slaps him during a video

The fashion industry has been linked to pollution, waste, and modern slavery. In light of this, an EU-funded project led a series of successful experiments designed to spark radical, sustainable change while, at the same time, uniting Europe's textile and clothing businesses.

Former Arsenal manager Unai Emery's ex-girlfriend Sacha Wright, 35, has told British tabloid, The Sun that he blamed her for his sacking last year.

Unai, 48, who joined Arsenal on May 2018 on a two-year deal, was sacked by the team management in November last year, following a poor run. Sacha claimed that Unai called her a "white witch" and blamed her for his team's failure.

"I trusted Unai and believed we would get married and have kids. I thought he was a gentleman and a family man. But in the end I realised he was not ready for a serious relationship," said Sacha, who first dumped Unai in September only to take him back in December.

"It was then that he blamed me for getting him the sack. He said I was a white witch as I brought him bad luck. He said the team began losing the day we broke up," said Sacha, who finally left Unai in March.

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Former FC Barcelona captain Xavi Hernandez admits that one day he would like to return to coach the Catalan giants. Xavi is currently in charge of Qatari club Al-Sadd and in January rejected the chance to replace the sacked Ernesto Valverde at the club. However, in an interview on YouTube, he admitted that his ambition is to coach in the Camp Nou, Xinhua news reports."

"Now I have tried as a coach, I think I'm able to do it and it is a dream to be able to return to Barcelona." "I have said it many times, that I consider Barcelona to be my home and my life," he said.

"I am learning a lot here in Qatar and although saying I want to coach Barca is a big statement and you have to be properly prepared in order to do so, it is a process and I hope one day to get there," commented Xavi, who added that for the moment he was content living in Qatar.

Earlier, six FC Barcelona board members stepped down and told president Josep Maria Bartomeu they are not pleased at how the club is being managed.

According to a BBC report, the six board members expressed their concern over the financial implications in a joint letter amid the coronavirus crisis.

"We have arrived at this point because we cannot reverse the way the club is managed in the face of important challenges in the future, especially in the post-pandemic era," the six said in their letter as quoted by BBC.

"We also want to show our displeasure over the unfortunate episode about the social media accounts, known as 'Barcagate', which we learned about through the press.

"As our last act of service to the club, we recommend that elections are called as soon as circumstances permit so that the club can be managed in the best way possible and deal with the important challenges of the immediate future."

In response to the resignations, Barca said they have come about "due to a reorganisation of the board put forward by Bartomeu and which will be completed in the next few days".

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Leeds United legend Norman Hunter died on Friday at the age of 76 after testing positive for coronavirus. "Leeds United are devastated to learn of the passing of club icon Norman Hunter at the age of 76," the club said in a statement. "Norman was taken to hospital last week after being diagnosed with COVID-19 and despite continuing to battle and the best efforts of NHS staff, he sadly lost his fight earlier this morning," the statement added.

Hunter made his Leeds debut in 1962 when he was just 18 years old. Hunter amassed a huge 726 appearances for Leeds United over a 14 year period, the club's most successful to date, earning the infamous nickname "Bites Yer Legs".

He won a total of 28 caps for England and was in the 1966 World Cup-winning squad, whilst was also the first winner of the PFA Players' Player of the Year in 1974.

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Putting on weight is a common fear during this Coronavirus-caused lockdown. However, England football star Jamie Vardy's wife Rebekah prefers to deal with the issue in a lighter vein. While most celebs are posting pictures and videos of their workouts and chiselled frames, Rebekah uploaded this picture (right) on social media, showing off her flabs, a term she coined for her flabby abs.

Former model Rebakah, a mother of five, admitted that her weight-gain is because of excessive eating which included eating cookies and drinking wine.

"I've seen a lot of pics of people's amazing abs in lockdown so thought I'd share my cute little [FL]abs with you as well," Rebekah, 38, wrote on Instagram, going on to explain her daily diet. "For anyone interested in following my lockdown eating plan, it involves three quite healthy meals per day with my family, then I top up with a consistent intake of three cookies in between meals and after meals. Then, I make sure I'm keeping myself well hydrated with wine in the evenings," added Rebekah, concluding with a cheeky line: "I also do yoga."

 

 

 

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I’ve seen a lot of pics of people’s amazing abs in lockdown so thought I’d share my cute little (FL)abs with you as well. For anyone interested in following my lockdown eating plan it involves 3 quite healthy meals per day with my family, then I top up with a consistent intake of 🍪🍪🍪 in between meals and after meals & then I make sure I’m keeping myself well hydrated with 🍷🍷🍷 in the evenings. I also do yoga 🧘‍♀️ #keepitreal #nofilter #freetheflabs #loveyourbody ❤️

A post shared by Becky Vardy (@beckyvardy) onApr 29, 2020 at 10:30am PDT

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There’s many former LaLiga stars currently using the experience and skills picked during their time in Spanish football in managerial and coaching careers all around the world. The list is almost unrivalled: Pep Guardiola (Manchester City), Zinedine Zidane (Real Madrid), Diego Simeone (Atletico de Madrid), Mikel Arteta (Arsenal), Rafa Benítez (Dalian Pro), Xavi Hernández (Al Sadd), Míchel (Pumas UNAM), ‘Guti’ (UD Almeria), Raúl González (Real Madrid Castilla), Van Nistelrooy (PSV U19), Unai Emery, Mauricio Pochettino, Quique Sánchez Flores, Laurent Blanc, Ernesto Valverde, Mark van Bommel, Aitor Karanka, Clarence Seedorf… but here are five more with very special stories.

1. Giovanni Van Bronckhorst – FC Barcelona to Feyenoord

All the lessons learned winning two LaLiga titles with FC Barcelona in the early 2000s as an attack-minded left back have definitely proved useful for Giovanni Van Bronckhorst’s coaching career. The former Netherlands international became first team coach in summer 2015 at Feyenoord, the Rotterdam club where he started and finished his playing career. His first season brought the KNVB Cup trophy, while the following year he led the club to its first Eredivisie title in 18 years, a historic achievement. Last January he was announced as manager of Chinese club Guangzhou R&F.

2. Jonathan Woodgate - Real Madrid to Middlesbrough

Jonathan Woodgate’s spell at Real Madrid famously did not get off to a great start, with an own goal and red card on his LaLiga debut. However, when fit and available the classy defender made a valuable contribution to Los Blancos 2005/06 campaign, with the team keeping seven clean sheets in his eight other games. The following summer he joined hometown club Middlesbrough, where he also returned after hanging up his boots to begin his coaching career in 2017. Last summer, Woodgate was named first team manager at Boro, and he took December’s Championship Manager of the Month award.

3. Jordi Cruyff - Camp Nou to Ecuador

Son of Barcelona legend Johan Cruyff, Jordi made his LaLiga debut in September 1994 against R. Sporting. The winger or attacking midfielder scored 22 LaLiga goals across spells at FC Barcelona, RC Celta, RCD Espanyol and most successfully D. Alaves, where he helped the Basque club reach the 2001 UEFA Cup final only to lose 5-4 in agonizing fashion to Liverpool. Cruyff also represented Manchester United, Metallurg Donetsk and the Netherlands national team [nine senior caps] during his playing career. He has since worked in Malta, Cyprus, China and Israel, where he oversaw three consecutive league titles as sporting director at Maccabi Tel Aviv. In January 2020 he was appointed Ecuador senior international manager.

4. Diego Forlan - Pichichi to Peñarol
One of the very few players in history to have won LaLiga’s Pichichi top scorer prize with two different clubs, Diego Forlan clinched it at Villarreal CF in 2004/05 and Atletico de Madrid in 2008/09. A strike rate of 128 goals in 240 LaLiga games counts among the very best. A long playing career also brought goals scored in England, Italy, Brazil, Japan and Hong Kong, and appearing at three World Cups and a 2011 Copa America triumph during 112 caps for Uruguay’s senior team. In December 2019, Forlan returned to his former Uruguayan club Peñarol to start his managerial career.

5. Fabio Cannavaro – Santiago Bernabeu to China

2006 was quite a year for Italian defender Fabio Cannavaro, who won the World Cup in Germany, signed for Real Madrid and was then awarded the Ballon D’Or. Cannavaro won two LaLiga titles during his three years in the Spanish capital, where he continued a strong relationship with mentor Fabio Capello. His first managerial job was at Dubai club Al-Ahli, where he won UAE Pro League and UAE League Cup titles. He also won the China League One title with Tianjin Quanjian, guided Guangzhou Evergrande to the Chinese Superleague title last year, and even took charge of the China national team for a time in 2019.

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Last month, SEBI had asked credit rating agencies not to consider any delay in payment of interest or principal loan amount arisen solely due to the nationwide lockdown conditions as a default.

The stress in the Indian mutual fund industry due to the pandemic impact deepened after Franklin Templeton MF decided to wind down six of its debt schemes. The lack of liquidity and redemption pressure compelled FTMF to take the extreme step.

In this economic environment, Mutual Fund houses are concerned about companies that are likely to delay and default in payments. Many companies have sought deferment/rescheduling of payment due to COVID-19 related disruptions. In order to minimize the resultant damage, market regulator SEBI recently provided temporary relaxation in valuation norms for instruments mutual funds hold.

SEBI has asked valuation agencies to avoid treating delays in payment of interest/principal or extension of maturity of a security as default for the purpose of valuation of money market or debt securities held by Mutual Funds, if it has been caused solely due to COVID-19 pandemic lockdown and/or in light of the moratorium permitted by RBI.

[Read: Will Mutual Fund Houses Act Against Companies Approaching Courts To Prevent Rating Downgrade Amidst COVID-19?]

"In view of the nationwide lockdown and the three-month moratorium/ deferment on payment permitted by RBI, a differentiation in treatment of default, on a case to case basis, needs to be made as to whether such default occurred solely due to the lockdown or loan moratorium", SEBI circular said.

SEBI has stated that in the above mentioned scenario, if there is any difference in the valuation of securities provided by two valuation agencies, the conservative valuation shall be accepted. This revised norm will be in effect until the RBI's period of moratorium.

However, AMCs shall continue to be responsible for true and fairness of valuation of securities.

Mutual fund houses have to mark the value of their assets based on valuations provided by valuation agencies appointed by AMFI.

At present, a debt or money market security is classified as 'Default' if the interest and/or principal amount has not been received on the day such amount was due; or when such security has been downgraded to 'Default' grade by a credit rating agency. Default denoted that the security is below investment grade.

This leads to mark down of the respective security and thereby impacts NAV of the scheme.

SEBI's move provides some relief in this regard. It will ensure that all fund houses follow a uniform approach while dealing with defaults/delay due to COVID-19.

Will it make investment in debt fund safe?

SEBI has not yet provided any moratorium on commercial paper and corporate bond repayment. According to a report published in Livemint, Rs 1.5 trillion worth of commercial paper and corporate bonds will be maturing in the first quarter.

As mentioned earlier, AMCs shall continue to be responsible for true and fairness of valuation of securities. But in the absence of rating downgrade from valuation agencies, fund houses cannot side-pocket their exposure to a defaulting company. Therefore, we may still see some write-offs if the AMC finds recovery to be difficult even after the relaxation period.

COVID-19 has impacted businesses across sectors. Some sectors such as NBFCs were under stress even before the pandemic. The default risk has thus amplified.

The relaxation of valuation would delay the issue, but downgrades would arise subsequently. Spike in number of side pockets (by fund houses) may thus become imminent.

My colleague, Rounaq, rightly mentioned yesterday, losses the investors suffer will be directly proportionate to the stress, pressure mutual fund houses and their investors will face. Eventually retail and High Net-worth Individuals, particularly, will lose confidence and may not be keen to invest in debt funds.

What should investors do?

In these uncertain times, it would be wise sticking to liquid funds and overnight funds for the fixed-income part of your portfolio and avoid funds that take higher credit risk. Alternatively, if you prefer safety of capital, invest in Bank fixed deposits.

Choose a fund house that follows prudent investment process and stringent risk-management system.

Our friends at Quantum Mutual Fund have highlighted the secret behind their debt management strategy, which has helped them provide safety and liquidity to investors when it comes to investing in quantum funds. Don't Worry, Quantum Liquid Fund always aims for Safety and Liquidity.

SEBI has time and again taken steps to tighten norms for debt funds. As an investor, if you take portfolio risks, align it with your own risk appetite and financial objective.

PS: If you wish to select worthy mutual fund schemes, I recommend you to subscribe to PersonalFN's unbiased premium research service, FundSelect.

Additionally, as a bonus, you get access to PersonalFN's popular debt mutual fund service, DebtSelect.

If you are serious about investing in a rewarding mutual fund scheme, Subscribe now!

Author: Divya Grover

This article first appeared on PersonalFN here.

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PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

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Former Danish tennis star Caroline Wozniacki has turned to baking during weekends during the Coronavirus lockdown.

On Sunday, the former World No. 1 Instagrammed this picture to her 1.4 million followers, of a red velvet cake she baked and wrote: "Weekdays are for fitness. Weekends are for baking [and eating]. First time baking a layered red velvet cake with homemade vanilla cream cheese frosting! I think it was a success!" To this, her NBA star hubby David Lee replied: "Definitely a success! Two pieces in and I'm ready for a nap."

 

 

 

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Weekdays are for fitness🏃🏼‍♀ï¸ÂðŸ‹ðŸ¼‍♀ï¸Â, weekends are for baking👩🏼‍🍳 (and eating😋) - first time baking a layered red velvet cake with homemade vanilla cream cheese frosting! I think it was a success! 😍

A post shared by Caroline Wozniacki (@carowozniacki) onApr 18, 2020 at 12:24pm PDT

Caroline Wozniacki is the first female from a Scandinavian country to be the number one player in WTA rankings. Wozniacki has won a total of 30 singles titles in her entire career. Wozniacki's highest point in her tennis career came when she won the 2019 Australian Open. Her career statistics are 635-264 with a winning percentage of 70.6.

Caroline Wozniacki is married to NBA champion David Lee. They tied the knot in June 2019.

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Tennis ace Sania Mirza said that one needs to be more sensitive while coaching young female sportspersons. Speaking in the All India Tennis Association and the Sport Authority of Indias digital Coachs Education webinar on Wednesday, Sania said that coaches need to be sensitive of the hormonal changes that girls go through while working with them.

"My dad always tells me that to work with a woman tennis player is a lot trickier and a lot more mental because I do think that there are a lot of issues that girls go through, especially when they are adolescent," said Sania.

"There are so many changes that are happening, internally in your body and externally as well. You are trying to be the best tennis player that you can be while there are so many hormonal changes happening as well, and it happens throughout the life of a woman.

"You can be a little bit more sensitive to their needs and the way they are because a lot of the times they are just trying to discover who they are, while they are also trying to be a tennis player. It can be a pretty tough job."

33-year-old Sania made her comeback to tennis this year after giving birth to her first child. She won the Hobart International in January before playing an integral role in helping India seal a historic playoff spot in the Fed Cup.

"Just the way I have managed everything else, I could manage both tennis and motherhood. I am lucky enough to have enough help around me as well, that is a huge plus point for me. My mom and my sister have played a huge part in giving me as much help as possible," said Sania on being asked about how she is managing the twin-role of mother and professional tennis player.

"A lot of people questioned it even when I was trying to make that comeback, how did you find time to lose so much weight. There's so much that happens with your body after you give birth. You just have to, sort of, adapt, find a way to take out two hours from your day to work-out and try to find that balance. It's also good for your own sanity as well, to find time for yourself."

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The Swiss Federal Tax Administration has confirmed that it has transmitted its first spontaneous information reports on advance tax rulings to exchange of information partner states.

Former Pakistan first-class cricketer Zafar Sarfraz has died of COVID-19. According to a report in geo.tv, Zafar succumbed to the novel coronavirus at the Lady Reading Hospital late Monday. The 50-year old is the first professional cricket player from Pakistan to succumb to the coronavirus, after testing positive last Tuesday. He had been on a ventilator for the past three days, hospital officials added.

Zafar, a left-handed batter and slow left-arm orthodox bowler, played first-class cricket from 1988 to 1994 and List A cricket from 1990 to 1992. He made 616 runs from 15 first-class games for Peshawar and also had 96 runs from six one-day games before retiring in 1994 and moving on to coach both the senior and the Under-19 Peshawar teams in the mid-2000s.

Zafar was the brother of late Pakistan international cricketer Akhtar Sarfraz, who went on to play four ODIs between December 1997 and October 1998, scoring 66 runs in four innings.

Last month, great Pakistani squash player Azam Khan had also died of novel coronavirus at the age of 95. Azam, who won four consecutive British Open titles between 1959-62, had tested positive for COVID-19 in March end and breathed his last in London's Ealing Hospital.

Over 5,000 confirmed coronavirus cases have been reported so far in Pakistan, including 96 deaths.

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Dinesh Karthik understands the reason for his exclusion from India's ODI team after an underwhelming 2019 World Cup but what he can't comprehend is the T20 snub as that is one format where he is still confident of making significant contributions. Karthik, who has played 26 Tests, 94 ODIs and 32 T20s over a 15-year-career, is used to making comebacks but to make another one will be tougher than ever for the 34-year-old. And he knows that. "My record in T20s has been good. A big tournament like the World Cup did not go exactly as per the plan. I could understand the one day bit (being dropped from ODIs) but even now I would like think that I stand a good chance in returning to the T20 side.

"I have done well even in the recent domestic games that I have played. I have no reason to doubt myself (that I can't make another comeback)," Karthik told PTI in an exclusive interview.

Out of the three formats, he averages best in T20s " 33.25 with a strike rate of 143.52. Does getting dropped hurts? "It does hurt, no doubt about that. I have always had this burning desire to play for my country and it hasn't diminished one bit." It was a rollercoaster ride for Karthik leading up to the World Cup as he was dropped for the home ODI series against Australia, India's last before the showpiece event.

However, the selectors picked him in the squad over Rishabh Pant for his "better" wicket-keeping skills. Eventually, Pant too became part of the World Cup side after Shikhar Dhawan fractured his thumb in the middle of the tournament. Karthik failed to make an impact in two innings he got in the World Cup including the semifinal which India lost to New Zealand. In fact, Indian team management drew heavy flak from all quarters for fielding three specialist keepers (MS Dhoni, Rishabh Pant and Karthik) in playing XI while ignoring specialist batsman Kedar Jadhav.

He was assigned the role of a finisher in the T20 side and his most significant knock came in the 2018 Nidahas Trophy final where he hit a last-ball six to win India the title. Though he has slipped considerably in the pecking order, Karthik remains hopeful of another comeback. KL Rahul is currently being tried as a wicketkeeper-batsman in limited overs cricket at the expense of Pant. Sanju Samson too is in the mix but which route the new selection panel takes remains to be seen.
The KKR captain, who was preparing hard for the IPL before the lockdown was announced, seems to be comfortable in his own skin.

"That is how the sport has always been for me. Full of ups and downs. It has taught me a lot of things. It (being out of the team) is not something new to me so I am comfortable in the space that I am in. "There is a T20 World Cup round the corner and I know if I do well, I stand a good chance of making the team. I know it gets tougher every time. The team is getting stronger all the time and it is great to watch. But it is my duty to get better as a player and the rest will take care of itself," the Tamil Nadu veteran said.

The IPL, which has been postponed indefinitely due to the COVID-19 pandemic, would have been an ideal platform for Karthik to make his case for his umpteenth comeback. But considering the circumstances, the game has taken a backseat. "With everything that has been happening, I am not able to think too much about the IPL. I have moved into a state where I have accepted that it is not going to happen for now. Before the lockdown, I was practising really hard for the IPL, just like I did it every other tournament.

"There is still a lot of hope (of playing for India again), it is always there. In fact, the entire world is living on hope right," said Karthik, who is keep himself fit with regular workout sessions at home. On how he is dealing with the lockdown, he added: "If at all, anybody is well acclimatised for a situation like this, it is the sportspersons. We tend to move around the world, stay in hotel rooms all alone, so to a large extent we are used to it.

"The whole world is doing it (staying at home) at the moment, fighting for one cause. Hopefully, we can eradicate this virus."

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New Zealand legend Glenn Turner is concerned about the impact of T20 cricket on the "more worthwhile forms" of the game and feels that the coronavirus-forced break is a good time to "reassess" the future of the sport. The 72-year-old Turner, who is also the former chairman of New Zealand's selection panel, believes that cricket administrators have "gone down a path of capitalism". "...money rules and you've got Twenty20 dominating to such an extent where it is putting what I consider to be more worthwhile forms of the game virtually into the background," Turner was quoted as saying by 'stuff.co.nz'. "That is only happening because of the money that they can get from that and of course the argument too, is that it is getting more people interested in the game," he said. "But if you dine at a fast food takeaway, does that mean that you are going to go on to fine dining? I don't think so and that doesn't appear to be happening."

Turner, who has written a new book 'Cricket's Global Warming' with noted author Lynn McConnell, said the shutdown due to the COVID-19 pandemic is an opportunity to reassess the future. "More and more money is going to the top end and it's a bit like society where the gap between the rich and the poor as got greater. Hopefully after this pandemic things are going to be reassessed," the former New Zealand captain and coach said. "I think they should be reassessed in cricket as well because your top players are really taking most of the cream and even the next group are really struggling," he pointed out. "Then, of course, they (administrators) don't have the sort of money I believe they need to foster the game further down. That's the real concern." Turner said in the last few decades players have more power than the boards which govern them. "The power has shifted almost totally to the players where boards step back and let the game be run largely by senior players. Things have turned 180 degrees and I don't think either is ideal," Turner said.

"But the thing that is happening, which I see as a mistake, is that they are getting full 12-month retainers while being able to sign contracts with as many other people as they can and not making themselves fully available for New Zealand. "That's too big a sacrifice I feel." The 72-year-old, who scored 2991 runs in 41 Tests and 1598 runs in 41 ODIs, was also not happy with the outcome of last year's World Cup where England were adjudged winners on the basis of boundary-count after regulation play and subsequent Super Over ended in a tie in the final against New Zealand. During the final, New Zealand were left to rue a last-over overthrow from Martin Guptill that went for four after getting a deflection off England all-rounder Ben Stokes' bat, helping England take the match into Super Over. Turner said Stokes should have been given out for obstructing the field. "I think that they gave the wrong result. But to have given out the man of the match at the time for obstructing the field which ought to have happened would have of course changed the result," he said. "Now that you are getting third umpires involved and they are seeing replays of things they will be able to make those sorts of decisions in the future I would hope," he added.

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Former Australian cricketer Graeme Watson who was fighting cancer, has died at the age of 75. Primarily a middle-order batsman and a medium-pace bowler, he featured in five Tests from 1967 to 1972 and two ODIs in 1972, ESPNcricinfo reported.

The all-rounder earned the national call during the 1966-67 tour of Rhodesia and South Africa. Watson slammed a half-century in the first innings of the second Test of the series.

However, the medium-pace bowler was ruled of the next test after suffering an ankle injury. He returned for the fourth Test in Johannesburg where scalped his career-best 2 for 67 but failed to leave a mark with the bat as Kangaroos lost the series.

In 1971-72 he moved to Western Australia and played a major role in their Sheffield-Shield win in 1971-72, 1972-73, and 1974-75 seasons.

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Former Australia cricketer Damien Fleming also celebrated his birthday on Friday as he completed a half-century!  Incidentally, Sachin Tendulkar and the swing bowler were involved in the same triangular series final at Sharjah on April 24, 1998.

Two days before the final, Damien dismissed Sachin to put an end to the epic sandstorm innings of 143.
On Friday, a journalist posted a video clip of that caught behind dismissal, Sachin walking off despite the umpire not raising his finger, and Damien throwing his arms in the air.

"Two birthday buddies arguing about whose would matter more two days out from their birthday. And it looked like @bowlologist got the better of @sachin_rt here #Sachin #BowlologistBirthday #SachinTendulkar," remarked the writer.

Damien retweeted it with the words, "Out or not out" mfollowed by a thinking face emoji.

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The out of favour Suresh Raina might have felt hard done by the national selection committee but its former chairman MSK Prasad made it clear that it was poor form during the 2018-19 domestic season that became his undoing. The 33-year-old, who has appeared in 226 ODIs and 78 T20Is apart from 18 Tests, last played for India in July 2018 in England after which he was dropped for good. Last year, he had a knee surgery in The Netherlands and was eyeing a comeback with his favourite team Chennai Super Kings in the currently postponed Indian Premier League.

"See VVS Laxman, when he was dropped from the Indian Test squad in 1999, he forced himself back by scoring over 1400 runs in domestic cricket. This is what is expected from senior players when they are dropped," Prasad told PTI, expressing surprise at Raina's recent comments that selectors should have taken "more responsibility" as far as senior players were concerned. Raina scored 243 runs, with two fifties, in five Ranji games in 2018-19 season. A terrific IPL player, he scored only 383 runs in 17 games for CSK in 2019 which dashed his World Cup hopes.

"Unfortunately, we didn't see that form here in Raina's case in domestic cricket while other youngsters emerged at the big stage with their brilliant performances in domestic cricket and India A," Prasad, who had an eventful four-year tenure, said. Recently, Raina, during a YouTube show 'Sports Tak', accused the selectors of not clarifying why he was dropped, something that Prasad said wasn't "true".

"I think selectors should have taken more responsibility towards the senior players. Tell me, if I have any deficiency then I will work hard. When the cause is not known, how he will improve," Raina was quoted as saying. Prasad, a former India wicketkeeper, seemed hurt by the allegation from a veteran player, which he said was far from truth. "It is so sad to hear from him that selectors don't watch Ranji games. Please check the records with BCCI that how many matches were watched by senior selection committee members in the last four years." Prasad said he had personally spoken to Raina about his exclusion and told him what was expected of him.

"I had personally spoken to Raina calling him to my room and explained him the roadmap for his future comebacks. He had, back then, appreciated my efforts. I am really surprised when I have heard things which are exactly contrary to what had happened." In fact, he gave a lowdown of how many of Uttar Pradesh's Ranji matches he has seen. "I gave postings to my selectors looking at those matches where the consistent players, fringe players, probables or comeback players are playing.

"Personally, I watched four UP games in Lucknow and Kanpur in the last four years apart from the other many UP matches my colleagues have seen. ""I take pride in saying that our selection committee has watched more than 200 Ranji matches in the last four years." For any senior player, the template for national comeback should be that of Mohinder Amarnath, who made a record of sorts during his 20-year-career with the national team. "When a senior player is dropped from the squad, we expect him to go back to domestic cricket and get his form back," he said. "If you look at the great Mohinder Amarnath, check how many times he was dropped and made a strong comeback with stellar performances in domestic cricket."

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Saudi Arabia is to abolish flogging as a form of punishment, according to a directive from the Kingdom's Supreme Court, adding that flogging will be replaced by imprisonment or fines.

The directive issued on Friday says this was an extension of human rights reforms brought by King Salman and his son, the country's de facto ruler Crown Prince Mohammed bin Salman, reports the BBC.

The last time that flogging in Saudi Arabia hit the headlines was in 2015 when blogger Raif Badawi was subjected to the punishment in public, reportedly after being convicted of cybercrime and insulting Islam.

He had been due to receive 1,000 lashes in weekly beatings but global outrage and reports that he nearly died put a stop to that part of his sentence.

This comes as campaigners have said that Saudi Arabia has one of the worst records for human rights in the world, with freedom of expression severely curtailed and critics of the government subject to what they say is arbitrary arrest, the BBC reported.

Earlier on Friday, the most prominent Saudi human rights campaigner died in jail after a stroke which fellow activists say was due to medical neglect by the authorities.

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[Source: Research & Innovation] EU-funded researchers have developed an ultrasensitive test to rapidly, accurately and cost-effectively diagnose disease, underpinned by innovative biosensing technology that could help combat the COVID-19 pandemic, HIV and cancer.

India has launched a consultation on efforts to reform the country's 1961 income tax law, to be led by a newly constituted task force.

On September 13, the OECD launched a substantial report on the tax policy reforms implemented last year by advanced nations.

"While countries do not necessarily need to tax savings more, there is a lot of room to improve the way countries tax savings," according to Pascal Saint-Amans, Director of the OECD Centre for Tax Policy and Administration.

The South African Revenue Service has removed certain paper forms from its branches in an attempt to encourage more taxpayers to file tax returns electronically.

Share price of Reliance Industries gained 4.43% to Rs 1,574 compared to the previous close of Rs 1,507 on BSE. Reliance Industries stock gained 9.11% in the last four days

Singapore has gazetted a law to repeal the income tax concession for intellectual property income derived by companies benefiting from the Pioneer Service Companies Incentive or the Development and Expansion Incentive schemes.

The Inland Revenue Authority of Singapore (IRAS) has released new guidance for GST-registered persons on the completion of new boxes in the GST F5 return from next year.

Singapore is to add provisions to draft legislation to enhance the new GST regime for imported services and clarify new rules for virtual currencies.

Belgium should look to broaden its tax base to fund labor tax reductions, the International Monetary Fund has said in its annual report for the country.

The OECD has committed to providing proposals to fix the taxation of the digital economy by 2020, in an update to G20 leaders on international efforts to mitigate base erosion and profit shifting (BEPS).

The UK's 2018 Budget includes changes to tax rules for companies, and notably for multinational groups to conform with the EU's Anti Tax Avoidance Directive. Most significantly, the UK has decided to move ahead of the EU in announcing that it will apply a tax on the turnover of certain digital businesses.

Malaysia's 2019 Budget contains plans for an overhaul of sales and service tax rules and a corporate tax cut for small- and medium-sized enterprises.

During a webcast on June 11, the OECD provided a technical update on its work to develop new, modernized international tax rules for the digitalized economy.

French scientists have developed a software program called Predibirth' that can identify potential problems with delivery of the baby in high-risk pregnancies.

Researchers have found that mild Zika virus infection in fetuses can cause abnormal brain development in apparently healthy young animals this might be applicable to humans as well.