act

Visakhapatnam gas leak: Chances of long-term impact are less, says AIIMS Director

A gas leak at a chemical plant in RR Venkatapuram village in Visakhapatnam on Thursday left 11 people dead and several hundred hospitalised. Andhra Pradesh chief minister YS Jagan Mohan Reddy visited hospitals where the victims have been admitted and he announced a compensation of Rs 1 crore for the deceased in the Visakhapatnam gas leak.

The chief minister also announced Rs 10 lakh each to those undergoing treatment on ventilator support, Rs 1 lakh for those who have been hospitalised due to the incident and Rs 25,000 to those who took treatment as out-patients after developing health complications due to inhalation of the styrene vapour.

The chief minister also announced a committee to probe into the mishap and said the government would talk to the LG Polymers management seeking job for the kin of the deceased in any of its businesses.

At the review meeting, the Collector informed the Chief Minister that the gas spread was limited to a 1.5 to 2 km area from the epicentre of the leak and that the locals were evacuated to safety.

After the incident, Prime Minister Narendra Modi chaired a high-level meeting where he discussed at length the measures being taken for the safety of the affected people as well as for securing the site affected by the disaster at Vizag. After chairing the high-level meeting on the Vizag gas leak tragedy, PM Modi also spoke to Chief Minister YS Jagan Mohan Reddy and assured all the required aid and assistance from the Centre to tackle the situation.

While addressing a press conference, AIIMS Director Dr Randeep Guleria said that the chances of the long-term impact of styrene gas, which leaked from a gas plant in Andhra Pradesh's Visakhapatnam are less. Clearing the air about the impact of the gas leak, Dr Randeep said, The chances of long-term impact are less because this compound metabolises and leaves the body quickly. This is an acute exposure rather than a chronic exposure. But we will have to follow up and see. As of now, the data doesn't suggest a significant long-term effect," reports ANI.

Para-tertiary butyl catechol or PTBC, a chemical made in Gujarat's Vapi, is currently being used in Visakhapatnam to neutralise the effect of the gas leak, said an official from the Gujarat government. Ashwani Kumar, secretary in the Gujarat chief minister's office, said that the chemical will be sent to Visakhapatnam on an urgent basis.

A press release from Andhra Pradesh Chief Minister's Office (CMO) said the official machinery swung into action immediately after the incident and evacuated people from the area after rushing those who fell ill to nearby hospitals where they are being treated for respiratory and other ailments.

Smokes rise from an LG Polymers plant following a gas leak incident in Visakhapatnam on May 7, 2020. At least eight people have been killed and several hundred hospitalised after a gas leak at a chemicals plant on the east coast of India, police said on May 7. Pic: AFP

Panic-stricken people rushed out of their homes, only to collapse. Several cattle and livestock also succumbed to the poisonous gas pervading the air. In scenes reminiscent of the Bhopal gas tragedy of 1984, the streets and hospitals of Visakhapatnam were filled with people in panic, scared to breathe and unable to fathom the silent tragedy that struck them.

Prime Minister Narendra Modi also took to Twitter to say that he spoke to officials of MHA and NDMA about the situation.

Home Minister Amit Shah took to the micro-blogging site to say the incident is disturbing. He wrote, "The incident in Vizag is disturbing. Have spoken to the NDMA officials and concerned authorities. We are continuously and closely monitoring the situation. I pray for the well-being of the people of Visakhapatnam."

Chandrababu Naidu also expressed his condolences to the ones affected in the tragedy.

"Chief Minister is closely monitoring the situation and has instructed the district machinery to take immediate steps and provide all help," said Andhra Pradesh CMO.

The Chief Minister enquired about the gas leak incident and directed the district officials to take every possible step to save lives and bring the situation under control.

The gas leakage took place at LG Polymers industry in RR Venkatapuram village here on Thursday, said Tirupathi Rao, District Medical & Health Officer (DMHO).

(with inputs from agencies)

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




act

Comedian-actor Tim Brooke-Taylor passes away due to coronavirus

Comedian-actor Tim Brooke-Taylor has died after contracting coronavirus, his agent said. He was 79 years old. Brooke-Taylor was a regular panellist on BBC Radio 4's "I'm Sorry I Haven't A Clue" for over 40 years and became popular with "The Goodies" on TV in the 1970s.

Brooke-Taylor began his acting career at Cambridge University. He was even part of the TV show "At Last The 1948 Show", where he starred alongside John Cleese and Graham Chapman.

"It has come as devastating news to hear that Tim has succumbed to this dreadful virus a" especially when we all thought he was recovering. Tim was a delightful man and never anything but great company," said comedian Jack Dee, who hosts "I'm Sorry I Haven't a Clue", reports thesun.co.uk.

"It has always been one of the great joys of my career to work with someone who was part of the comedy landscape of my childhood. "I can't bear the thought of introducing 'I'm Sorry I Haven't A Clue' without being able to say 'And on my right, Tim Brooke-Taylor'. Tim brought a unique quality to Clue. He was a proper team player, very generous as a performer, never egotistical and always more than delighted to set himself up as the b**t of the joke. For me, his great comedy gift was playing the injured innocent and he did it with brilliance and a characteristic lightness of touch."

"It's always heartbreaking to lose a loved one, but these times have created the cruellest of circumstances for that to happen in and my thoughts are with his wife Christine and all his family," Dee said.

Comedy writer Simon Blackwell tweeted: "Heartbreaking news about Tim Brooke-Taylor. Filled so many people's childhoods with massive laughs, and then kept doing so for decades afterwards. Condolences to his family and friends."

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




act

Five TV characters you'll relate to if you are into cleaning this lockdown period!

For all the cleanliness freaks out there, this will just bring a twinkle in your eyes! As we all are under the lockdown period, to fight against the coronavirus outbreak, one is surely finding something or the other to keep themselves occupied. And why not? We cannot just sit at home and do nothing for days, and maybe, months!

If you remember Monica's midnight cleaning shenanigans, Sheldon spraying disinfectant while covering his nose with his t-shirt and Emma cleaning a sharpener for 45 straight minutes, you're a true fan. With the lockdown extending, the reasons to not clean out your room are fading away by the minute.

Quarantine or not, cleaning is never a fun task. Well, unless you are one of these characters from popular TV series, that is. Here are 5 characters who will probably inspire you, if not, totally entertain you.

Sheldon Cooper in The Big Bang Theory:

If there's one thing we know for sure, it's that Sheldon Cooper would not have contracted coronavirus ever. Even in case of regular cold, Sheldon likes to keep himself isolated from his roommate and asks everyone around the 'sick' person to use Purell if they have come in contact with the person. He is the epitome of 'Social Distancing' and we should all take a few tips from him. Tune in to Comedy Central and learn the art of social distancing directly from the artist.

Monica Geller in Friends:

There's one thing certain about Monica that everyone knows, and it is that she is a neat freak that needs everything to be very clean (she cleans her vacuum cleaner with a smaller hand-held vacuum cleaner) In fact, she freaks out if something's even slightly out of place. The entire gang knows that if anything is not in its 'place', Monica is going to be mad. In fact, while the COVID-19 outbreak ensues, Monica would have made sure to use the 'fancy' soap every time you wash your hands to help keep coronavirus at bay.

Emma Pillsbury in Glee:

She's the most credible OCD character according to fans with a traumatic incident to back her story. Emma has been bedeviled by mysophobia (fear of germs and dirt) since childhood, when her brother pushed her into a runoff lagoon at a dairy farm. If you think Monica is bad, wait till you watch Emma wipe every grape she eats with a tissue before eating it. You could probably borrow her gloves and disinfectant wipes to keep the germs away.

Claire Dunphy in The Modern Family:

Claire is a perfectionist who needs everything to be exactly how she thinks is perfect. She can't stop trying to make her house look perfect and even makes her assistant do all the dirty work when challenged not to do anything on a particular day. If cleaning and reorganizing is something you considered doing while you spend time at home, take notes on how she makes sure her home looks perfect.

Winston Schmidt in New Girl:

Schmidt is the cleanest person you know. His OCD tendencies might be just the thing you need in life. Let's face it, he knows how to scrub down. Not only does he love to look good, but that quality spills over into his home too which must look pic and pan. He is a neat freak and hates it when someone puts something where it doesn't belong or tries to do something in a way that isn't as efficient as he wants it to be.

Catch these characters on Comedy Central in their element to motivate yourself to clean and tidying up your surroundings as we stay safe at home.

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




act

Extraction | Chris Hemsworth shares his experience shooting in India

We're asked to first wait at the Breakout Room, before being led to the Vetting Room (have spelt that right). After quite a few minutes, finally, allowed in to the Interview Suite. Felt like going past check-in, through security, into immigration.

Except, this passage to the Hollywood home of Australian-born superstar Chris Hemsworth — globally, best-known as the superhero Thor — with various check-points in place, is happening over Zoom, the video-conferencing app. There's a posse of international press logging in at their designated time-slots, from respective homes, across the world. All of them, like Hemsworth at his place, it appears, are living under lockdown, due to COVID-19 spread/scare.

"If you think about it, what we're doing is unbelievable," says Sam Hargrave, referring to the unusual manner of this junket. This is before formal conversations begin, with a moderator rotating questions, as per a pre-decided order. Everyone but the specific questioner's microphone is on mute. No doubt, these are extraordinary times.


Chris Hemsworth and Sam Hargrave (encircled) during the interview  

Hargrave, placed in the window to my right, is the director of the Netflix film Extraction, starring Hemsworth, that drops on April 24. If it wasn't for the pandemic, they'd both have been in Mumbai promoting this film. Which is where I am. And where, along with Ahmedabad, mostly, Extraction was shot.

What was that like? Hemsworth offers the common adjectives — life, energy, people, positivity —that the uninitiated usually refer to mean an overwhelming experience, which India, without a national curfew, can certainly be. He recalls, "The [crowds] couldn't have been more accommodating, supportive — thousands of people standing in buildings and bridges, watching and applauding. The shoot felt like being in a coliseum, or live theatre!"

For Hargrave though, besides sanity, there was also the question of maintaining safety: "We were doing intricate action sequences, with cars flying over locked-up streets, at 50 miles per hour. [At any point in time], you'd have 300 people for security personnel alone, to make sure no one got hurt."


A working still of Extraction

Hargrave is one of Hollywood's top stunt-coordinators, with films from the Marvel Cinematic Universe under his belt, including the Avengers blockbusters directed-produced by (Anthony and Joe) Russo Brothers.

Extraction however is Hargrave's first film as director, and evidently furthest from his comfort zone, given its setting to start with: "Joe Russo, who wrote the script, actually set the film in Dhaka [Bangladesh] and India. Because western audiences haven't seen much of that side of the world. It offered lots of opportunities, visually."

Directing, as a job, is challenging enough. Double whammy for the debutant was, as he puts it, "Directing actors in two different languages — Hindi and Bengali. Neither of which I speak! We had an interpreter with us. But because of the prep we'd put in during rehearsals, while I couldn't understand what they were saying [in the dialogue], I could tell the intention.


Randeep Hooda

"I knew when we'd nailed a take. And if something was off, I knew if we'd missed a line. With cinema, you can tell the scenario. Especially with action — once you've set up the hero and the villain, and they're at odds — the film speaks for itself."

One of the major Indian actors Hargrave directed for Extraction was Randeep Hooda, who comes up rather often in this conversation, as Hemsworth specifically refers to the "major [fight scene], involving hand-to-hand combat. It was so exhausting for both [Randeep and I]. Yet, when you've got an actor who's putting in a 110 per cent, neither of you is willing to quit, it's the best."

Which gives you fair sense of the film's genre — sort of a pure, street-style actioner in the old-world, Western mould. Hemsworth elaborates, "[It's] everything they used to do in the '80s and prior, [without] relying on special effects and green screen, because you couldn't. It was refreshing and rewarding to shoot like that."

Hargrave recalls, "When Randeep and I met, we spoke about the characters, relating them to the classic Westerns — Once Upon a Time in the West, The Good the Bad the Ugly..." Randeep has come again — maybe we could go further on that route (him and I went to the same school).

Or talk more about other Indian actors Hemsworth was referring to hanging out a lot with, while he was here. Or, perhaps mildly pick his brains on his last huge release, Avengers: Endgame — hugest one in the history of films!

Oh, I'm on mute. Chatting on a screen through a moderator is at best interviewing an interpreter, with a dysfunctional hearing aid. Feels rather distant. Upside? Could casually roll out of bed in boxers in Bombay, find myself seated opposite Thor for a few minutes, and then back to bed again. Done. Hoping it's not the new 'normal' though.

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




act

Boston Legal actress Lake Bell's five-year-old daughter has epilepsy

Boston Legal actress Lake Bell's five-year-old daughter has been diagnosed with epilepsy.

Bell and her husband Scott Campbell, discovered the news a few months ago but the actress has just come to terms with the diagnosis, reports aceshowbiz.com.

She wrote on Instagram: "My daughter has epilepsy. It's taken me a few months to gather the courage to post about it because I do not want to endorse it's existence."

"I also didn't know why I should share it. Why tell a bunch of strangers? however in a time where we are so isolated I crave community. We all do. We want to be reminded we are not alone in any reality.

"And above all, I am grateful... Grateful to have a partner in @scottcampbell who, with his research and smarts, is giving these seizures a worthy adversary. Scott and I, along with the care of the incomparable @childrensla, will conquer them."

She added "For Nova... so she doesn't have to cry in fear after she gets sucked into one. They are like invaders, that come on without invitation nor warning. We will fight for Nova. For her future. For tomorrow. For today."

Bell said it's the beginning of a "long journey and I want/need to remember that I am not alone. And if you are dealing with a loved one with epilepsy, I get it... You are not alone."

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Extraction director Sam Hargrave: Not much space for mid-budget action films

"Extraction" director and popular Hollywood stunt coordinator Sam Hargrave feels cinema has space for either "super big-budget movies like superheroes" or smaller movies, saying that it doesn't leave much room for mid-budget action movies.

Talking about his upcoming Netflix action film, Hargrave told IANS: "It seems that there's not as much space in the cinemas for these kinds of mid-budget action movies. It seems that it's mostly the super big-budget superhero movies or the kind of the smaller stuff."

Hargrave is glad that his first movie will reach a wider audience through Netflix.

"Netflix has carved out space for itself for movies like these to exist, which I think is really great… Because there are a lot of great stories out there… These kinds of movies, now, have a place to be seen, be viewed and be enjoyed," he said.

With "Extraction", Hargrave is graduating from being Chris Evans' stunt double in "Captain America: The Winter Soldier" for fight scenes and stunt coordinator in "Captain America: Civil War" to a feature director. Hargrave was an additional second unit director in "Avengers: Infinity War".

Hargrave continued: "I think that's a really great thing for audiences around the world. I'm happy that my first time directing (feature film) come out on a platform like Netflix where so many people can see this. It is a very unique experience and one that I'm looking forward to seeing how it all plays out when it comes out on April 24."

For his first film, Hargrave reunited with his "Avengers" family. He got "Thor" star Chris Hemsworth to lead the film, screenplay of which is done by Joe Russo. The film is produced by Russo Brothers (Joe and Anthony Russo), Mike Larocca, Chris Hemsworth, Eric Gitter, and Peter Schwerin.

Originally titled "Dhaka", the film also stars Indian actors Randeep Hooda, Pankaj Tripathi, Priyanshu Painyulli, and Rudraksh Jaiswal. It revolves around Tyler Rake (essayed by Hemsworth), a fearless, black market mercenary, who embarks on the most deadly extraction of his career when he is enlisted to rescue the kidnapped son of an imprisoned international crime lord. It has been shot extensively in India, along with other places around the world.

Catch up on all the latest Mumbai news, crime news, current affairs, and a complete guide from food to things to do and events across Mumbai. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




act

Priyanshu Painyuli on Extraction: Research helped add layers to character

Global recognition is every actor's dream. For Priyanshu Painyuli, it came true when he was approached to play a crucial role in the upcoming Chris Hemsworth-starrer Extraction, directed by Sam Hargrave.

"I knew I had to give it my all," says the actor.

To play his role to perfection, Painyuli went the extra mile. A source informs, "He researched extensively to grasp the reality of the Bangladeshi war and drug lords. Considering the movie is set in Dhaka,

Priyanshu learnt the native language." The detailed script for the film which was originally named Dhaka enabled Painyuli to visualise his character better. He says, "The script has a clear vision for each character. To ensure that I do my best, I wanted to create a backstory for the character to justify how he is presented in the film." Painyuli says director Hargrave often sat down with him to discuss his character and helped him with the research. "The documentaries and material he suggested gave me an insight into the country and its struggles.

The nature of crime in a country reflects its social structures and the issues it is grappling with. I feel the research helped my character create more layers."

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




act

Jamie Dornan: I am not closed off to being in an action movie

"Fifty Shades of Grey" star Jamie Dornan says he aims to do a variety of cinema and does not want to restrict himself to a particular genre. In an interview with Variety, the 37-year-old actor said he wants to keep challenging himself as he goes ahead.

"I think I have a stronger sense of what's not right for me. And one thing with this job is to challenge myself and one thing is to keep a very large element of variety. I just wouldn't and I'm not trying to discredit anyone who's in this world but I just couldn't be an actor who does action film after action film or, indeed, who does comedy after comedy," Dornan.

The actor, who found global fame with "Fifty Shades" film series, said for him, acting is an opportunity to play different characters. He, however, maintained that he is not averse to an action film.

"I'm not closed off to being in an action movie. I just don't want to do four a year. If one comes along and speaks to me, then yes, sure. And I think I've been lucky in everything post-'Fifty Shades'. "There's a lot in the market of the USD 5 to USD 15 million budget movie. And I personally believe that's where the best scripts are. I've done things like 'Anthropoid' or 'A Private War' and some of these movies, I'm really proud of. I'm just lucky they came my way because of the box office success of 'Fifty Shades'," Dornan added.

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Hollywood actor Sean Penn spotted getting tested for Coronavirus

Actor Sean Penn was spotted getting tested for coronavirus with a nasal swab here. The 59-year-old star was at the free Malibu testing site set up by his organisation CORE (Community Organised Relief Effort), reports www.dailymail.co.uk.

He kept his backpack on as he leaned back in an outdoor chair to be tested by a staff member in a mask, gloves, face shield, and hazmat suit.

CORE, which Penn founded in 2010 to help with earthquake relief in Haiti, is now collaborating with LA Mayor Eric Garcetti to combat the ongoing health crisis. The non-profit's goal is to establish free drive-in testing sites in Los Angeles, working with both the mayor and fire department, according to USA Today.

Penn's goal is to "save lives and alleviate the depletion of resources" with the program. He himself works at the testing site in Malibu where he lives.

"We have an infrastructure in place to respond, and so we decided that we would if we could be value-added. It's something that we can adapt to very quickly with the training of the Los Angeles Fire Department initially. And then we're able to take all those firemen and put them back in to serve the people in the way that we need them to," he said last week.

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




act

Extraction | Randeep Hooda: Focused on bodyweight exercises, agility work

Despite being armed with years of equestrian training, Randeep Hooda recalls being "daunted" to commence physical prep work with Chris Hemsworth for Extraction. The actor's fears were not unwarranted when one considers how Hemsworth punched his way through 22 Marvel films as the superhero Thor, only to go on and launch one of the most successful fitness platforms in Hollywood.

"We'd train together almost each day. Chris said he didn't benefit from traditional gym training for his action [films] and hence took to [functional and agility work]. When I'd ask him why he'd do shoulder presses with one hand, he'd tell me how it worked in improving his core strength. [I too changed the way] I used the muscles of the core and shoulders," says Hooda, adding that despite being as famous as he is, the Australian star's demands during his India sojourn were rather trifling.

"The only thing he wanted was organic food, which his [nutritionist] would cook for him. All the stuff that his team did, inspired me to change the traditional way I [trained]. I took to compound movements, and learnt the importance of [practising] bodyweight [exercises]. Developing presence of mind and command over the body to enable it to do everything you want it to do, was [my biggest takeaway] during our three-week rehearsals before we rolled," says Hooda, who battles Hemsworth in a series of high-octane action sequences in the upcoming Netflix offering.

For debutant director Sam Hargrave, working on Extraction was both a familiar and alien experience at once. While on one hand, the former stuntman for Avengers' Captain America was reuniting with Hemsworth and producers Russo Brothers, on the other, he was exploring the unfamiliar terrain of India, where his film is based, and even employing languages that he couldn't himself comprehend.

"It is due to Sam's vision that we could create this world. We went through a lot of rehearsals [for the combat sequences]. Sam, along with the action team, ensured that the physicality was on point, and the scenes were realistic. I'd also watch the stuntmen, who had peculiar ways of training. They'd practice low-ground work, and take to exercises to strengthen the joints and ligaments. I'd watch them in awe as they performed martial arts and flips."

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




act

Extraction: Tyler and Ovi's special bond is something you don't want to miss!

Tyler Rake (Chris Hemsworth) is a fearless black market mercenary with nothing left to lose when his skills are solicited to rescue the kidnapped son of an imprisoned international crime lord. But in the murky underworld of weapons dealers and drug traffickers, an already deadly mission approaches the impossible, forever altering the lives of Tyler Rake and the boy. An action-packed, edge-of-your-seat thriller directed by Sam Hargrave, Extraction is an AGBO Films and TGIM Films, Inc. production, produced by Joe Russo, Anthony Russo, Mike Larocca, Chris Hemsworth, Eric Gitter, and Peter Schwerin.

Amidst the action, the fights, the chaos and gangster war, Ovi (played by Rudhraksh Jaiswal) develops a special bond with Tyler Rake. He becomes Ovi's hero for being a brave man in the way he rescues people and is the best at what he does. Ovi sees Tyler's emotional side, hidden behind an otherwise strong exterior, and touches the chords of his heart with his kind words. The two share a beautiful bond of trust and friendship which is showcased throughout the film.

The film also stars Randeep Hooda, Golshifteh Farahani, Pankaj Tripathi, Priyanshu Painyuli and David Harbour, among others. Extraction releases exclusively on Netflix on April 24, 2020.

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




act

Meryl Streep: Dick Van Dyke is practically perfect

Oscar winning-actress Meryl Streep says legendary star Dick Van Dyke has not lost his inner child, and has retained the innocent joy of life despite his years. The actress recently got a chance to work with the 94-year-old Van Dyke in "Mary Poppins Returns".

"He is practically perfect in every way so no wonder he was drawn to the material Mary Poppins. He is somebody who is pure I don't wanna say show business because it conjures up the whole other thing but it's a theatrical sense of joy that he brings," Streep said while talking about her co-star.

"He is uniquely suited to this kind of material mostly because he has got the soul of a 9-and-a-half-year-old. I would say he has not lost his inner child and the things that we often lose as we go on in life. He has retained that innocent sense of joy and that's what he brings to this material," she added.

Disney's "Mary Poppins Returns" stars Emily Blunt as the practically-perfect nanny with unique magical skills who can turn an ordinary task into a fantastic adventure. The sequel brought back Mary Poppins to help the next generation of the Banks family find the joy missing in their lives following a personal loss.

Rob Marshall has directed the film from a screenplay by David Magee. The screen story is by Magee, Marshall and John DeLuca based upon the Mary Poppins Stories by PL Travers. PL Travers first introduced the world to the no-nonsense nanny in her 1934 children's book "Mary Poppins".

Opening up about Blunt's singing prowess, Streep said: "She is amazing but her tenderness in this is palpable. Rob and Marc Shaiman, they wrote it with her in mind so the music sits in her voice perfectly. She is amazing in it!"

"Mary Poppins Returns" takes place in the 1930s Depression-era London 24 years after the first film was set. Michael Banks works for the same financial institution that employed his father and still lives at 17 Cherry Tree Lane with his three children, Annabel, John and Georgie and their housekeeper Ellen. When the family suffers a personal loss, Mary Poppins magically re-enters their lives and with Jack's help, brings joy and wonder back into their home.

"Mary Poppins Returns" will air in India on Star Movies on April 26.

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Extraction Movie Review: Scriptless set-piece stunner!

Extraction
On: Netflix
Director: Sam Hargrave
Cast: Chris Hemsworth, Randeep Hooda
Rating: 

Takes a bit of an insider to know exactly how Bombay beat-cops randomly harass young adults milling around, minding their own business, outside clubs/bars past midnight — as if that's the biggest crime in town.

That scene, so representative of the city's dying night life, occurs rather early on in Extraction. By the look of it, it is shot in Bombay — set in a lane that could easily pass off for back-alley of what used to be Elbo (and is now Glass) Room in Bandra.

Only that this is a proper, hardcore Hollywood production, directed by a first-timer (Sam Hargrave) who, until this shoot, had probably never been to India. The hero, Australian-born Chris Hemsworth, tops the world's highest paid actors' lists, and is widely adjudged 'world's sexiest man alive' in the western press. The script — or rather the lack of it (sadly) — is written by Joe of the Russo Brothers — their last film as directors being Avengers: Endgame (naam toh suna hoga!).

Up until that point in the film I speak of (above), the dialogues in Extraction are mainly in Hindi. This carries on for long passages in the picture thereafter; including a whole lot of Bengali, as the action in the film altogether, ostensibly, shifts to Dhaka.

What's there not to be pleasantly gob-smacked by all this shudh 'desiness' going on in a thoroughbred global stunt-actioner? But I speak too soon. For, the moment those fellows in police uniform approach a few kids outside a Bombay bar, one of the boys in the group is abducted, others shot at. And the thriller cuts to such a frantic chase, that all there's left to it are a series of set-pieces, involving grenades, gun-fires and mortal combat.

No issues with that, of course. Just that this is so much of a (critic-proof) genre film, it seems the filmmakers couldn't care two hoots about every moment from thereon — flowing as generically as the audiences would ever imagine them to.

But for the setting, obviously. Which, truth be told, is essentially a white man's gaze at what a rat-hole the size of hell would look like, with the military and ragtag militias being one and the same thing. Guns going off on streets all day, people flocking and flopping like packs of sardines or lemmings off cliffs. This is supposed to be Bangladesh on any given day. Though, am told this was shot in Ahmedabad.

Watch the trailer of Extraction trailer here

Recalling how some Indians outraged over poverty-porn in Slumdog Millionaire, as if Danny Boyle had built a set to defame Bombay (he hadn't; it was what it was) — desis should take mass offence at the portrayal of Dhaka. Relax, that's a joke; suggesting no such thing! This is a frickin' movie. Watch it for that — just as others will.

What you'll appreciate then is the sort of fire-power and raw energy that laces this dusty stunner throughout. For its setting, this is probably a Rohit Shetty actioner to the power 10, in terms of gritty realism. And maybe there's a template in it somewhere for something desi in the Fast and Furious space.

Basically, Sam Hargrave has come into direction after a heavy body of work as stunt coordinator in Hollywood. A story-line may not artistically be his strongest point. But hell yeah, he knows a thing or two about action.

As does Hemsworth — a one-man army, running around here with a loaded arms factory, ensuring bang for the buck. Speaking of which, ideally, this Netflix film would've been best enjoyed in a theatre. This must also be said for the relatively under-rated, but much superior Netflix thriller, Triple Frontier (2019). That was about a huge robbery, involving a Colombian drug-lord, gone bizarre. This one involves Hemsworth's character being hired to 'extract' or rescue the abducted son of 'Bombay's Escobar', who's been kidnapped by 'Dhaka's Escobar' (accha!). Besides the entire city of Dhaka, along with all exit routes closed, Hemsworth has to also take on the Indian don's henchman — for reasons that should only be unlocked by viewers.

Randeep Hooda plays this feisty antagonist — full-on kicking ass, firing on all cylinders, opposite Hemsworth, no less — in Steven Seagal hairdo from the '80s. That's where this film deliberately belongs, too. Pankaj Tripathi is the Indian don, Ovi Mahajan Sr. His missing son is named, Ovi Mahajan Jr (kuch bhi!). Young Priyanshu Painyuli — the super-fine 'find' from the film Bhavesh Joshi Superhero — is the Bangladeshi don.

But for so much delightful desiness in this grand deadliness, would one have even watched this flick with such keen eyes? Let alone responded to it in so many words? Good question.

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




act

How Michael Jackson reacted when Madonna told him to 'dress like a girl'

The late king of pop Micheal Jackson once got mad at pop diva Madonna for asking him to dress up like a girl for his "In the closet" music video. During Kenneth "Babyface" Edmonds' Instagram Live battle with Teddy Riley, the former spilled some hot goss on Michael Jackson, reports aceshowbiz.com.

In between songs, Edmonds recalled what Jackson told him: " 'Babyface, can you believe she wants me to dress like a girl?' He was like, 'I'd never do that.' He said, 'She was trying to change it all up. It was crazy.' "

The record producer then mentioned that the "Heal the world" hitmaker "was really mad about it", to the point where he decided to replace Madonna with Naomi Campbell. Produced by MJ and Teddy Riley, "In the Closet" was released in April 1992 as the third single of his eighth album "Dangerous".

The song was originally conceived as a duet between MJ and Madonna.

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

From small screen to Hollywood: A look at actor Irrfan Khan's versatile journey

An actor par excellence with an impressive array of roles under his belt, Bollywood actor Irrfan Khan died yesterday at the age of 53, triggering an outpouring of condolences.

Hailing from Jaipur, the seasoned actor was born in a Muslim nawab family, to Begum Khan and Jagirdar Khan.

While studying for his Master's degree, it was in 1984 that he earned a scholarship to study at the National School of Drama (NSD) in New Delhi.

Following his academic completion, Khan made his way to Mumbai, where he kicked off his career as an actor.

New to the industry, he started acting in numerous television serials, including 'Sara Jahan Hamara', 'Chanakya', 'Star Bestsellers', 'Chandrakanta', and more which went on air on Doordarshan and Star Plus.

He played the role of a psycho serial killer opposite actor Kay Kay Menon in the 1995 TV series 'Darr'.

His portrayal of the famous revolutionary Urdu poet and Marxist political activist of India Makhdoom Mohiuddin in 'Kahkashan' was widely lauded.

Flexible in acting, Khan gave life to varied characters onscreen with ease.

In 1988, the actor made his big-screen debut in the drama film 'Salaam Bombay', though his role was not meaty enough.

By the 90s, the actor made his presence in movies such as 'Ek Doctor Ki Maut' and 'Such a Long Journey,' but they went unnoticed.

It was when London-based director Asif Kapadia gave him the lead in 'The Warrior', that Irrfan took the road of uncertainty to glory.

In 2001, the adventure drama took international film festivals by storm, making Irrfan Khan a known face, world over.

Thereafter, the actor tasted success in his acting career with movies like 'Road to Ladakh,' which received rave reviews at international festivals and 'Maqbool,' an adaptation of Shakespeare's Macbeth.

After his first Bollywood breakthrough in 2005, with him being the lead in 'Rog,' the star was a frequent face in movies, either in the lead role, supporting, or the villain.

It was his performance as a villain in the 2004 released movie 'Haasil' won him the Filmfare Best Villain Award, followed by a Filmfare Best Supporting Actor Award in 2007 for his role in the box-office hit 'Metro.'

His performance in the English-language drama 'The Namesake' was appreciated overseas, which was again closely followed by his appearance in international films 'A Mighty Heart' and 'The Darjeeling Limited'.

The Hollywood recognition did not make him forget his roots - his ties with television. He took over the stage for many television shows as an anchor.

He played a police inspector in the 2008 film 'Slumdog Millionaire', for which he won the Screen Actors Guild Award for Outstanding Performance by a Cast in a Motion Picture.

Following the many credits from overseas, in 2012, the actor set the benchmark in the industry with his acting in the widely lauded adventure movie 'Life of Pie.'

After giving his fans few of his best performances in the recent critically acclaimed Bollywood movies 'The Lunchbox', 'Piku and 'Hindi Medium', in March 2018 his acting career slowed down.

He had been on a year-long break after being diagnosed with a neuroendocrine tumour for which he was undergoing treatment in London.

However, the actor always stayed connected with his followers through social media, where he also thanked everyone for the love, wishes, and prayers that were bestowed on him.

Last year, on September 14, the actor returned to Mumbai after a 'successful surgery' and wrapping up his last film 'Angrezi Medium' in London.

Three days ago, on April 25, he lost his mother, who passed away due to age-related illness at the age of 95.

Khan is survived by wife Sutapa Sikdar who's also an NSD graduate and sons Babil and Ayan.

Prime Minister Narendra Modi, Home Minister Amit Shah, several Union Ministers, politicians and members of the Bollywood and Hollywood industries have extended heartfelt condolences on Irrfan's death.

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Scrubs actor Sam Lloyd passes away at 56

American character actor Sam Lloyd - best known for portraying lawyer Ted Buckland on the sitcom 'Scrubs' - has died, confirmed his agent on Friday. He was 56. The statement did not indicate when he died. According to Fox News, in January 2019, Lloyd was diagnosed with a brain tumor shortly after his wife Vanessa gave birth to their first child together -- a son named Weston, according to a GoFundMe page for the late actor.

Doctors also found that cancer had metastasized from his lungs and spread to his spine, jaw and liver, per the page, which was created by 'Scrubs' executive producer Tim Hobert.

In addition to the long-running series "Scrubs," Lloyd appeared in a handful of shows over the span of his career, including 'Cougar Town,' 'Desperate Housewives,' 'Seinfeld,' 'Modern Family,' 'The West Wing' and 'Shameless,' as well as movies such as 'Flubber' and 'Galaxy Quest.'

Lloyd also sang in an a cappella group The Blanks, which performed on 'Scrubs' as The Worthless Peons. He also played bass guitar in the Beatles tribute band The Butties, according to Variety.

Tributes from the 'Scrubs' family poured in, following news of his passing.

The creator of 'Scrubs,' Bill Lawrence shared a behind-the-scenes snapshot of Lloyd, captioning it: "Thinking a lot about Sam Lloyd today. (Ted). Truly such a kind, sweet guy. He will be missed by so many."

Zach Braff tweeted: "Rest In Peace to one of the funniest actors I've ever had the joy of working with. Sam Lloyd made me crack up and break character every single time we did a scene together. He could not have been a kinder man. I will forever cherish the time I had with you, Sammy."

Sharing a photo of himself alongside Lloyd, Robert Maschio wrote: "Simpler times, happier days, the kindest man I ever met. Easy going Sam, Rest In Peace. #RIPSamLloyd."

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Chris Hemsworth 'blown away' by Extraction response

Hollywood star Chris Hemsworth has thanked everyone for loving his digital movie "Extraction", which is on its way to become Netflix's "biggest film of all time". Hemsworth took to Instagram to post a video to express his gratitude about the response to the film, reports hollywoodreporter.com.

 
 
 
View this post on Instagram

🙏🙏🙏 EXTRACTION @thesamhargrave @therussobrothers @netflix @netflixfilm

A post shared by Chris Hemsworth (@chrishemsworth) onMay 2, 2020 at 4:14pm PDT

"Hey, what's up guys, I hope you're doing well. I just want to say a massive thank you to everyone who checked out 'Extraction', you've made it the number one film on the planet right now," said the actor from his gym.

"And it looks like it's going to be Netflix's biggest feature film of all time, which is absolutely mind blowing" he added.

The "Thor" star went on to say: "We are blown away by the response and the support. On behalf of myself, the Russo Brothers, Netflix, our director Sam Hargrave, thank you so so much. We love you guys".

He also addressed the rumors of a sequel to "Extraction".

"There's been a lot of talk and questions about sequels and prequels and all sorts of things, and all I can say is who knows," said the actor, adding: "But with this amount of support, it's something I will be pretty stoked to jump back into."

The action thriller released on Netflix on April 24, and attracted viewership from "an estimated 90 million households in the first four weeks" of its release, according to Hemsworth's previous Instagram post.

With "Extraction", argrave graduated from being Chris Evans' stunt double in "Captain America: The Winter Soldier" for fight scenes and stunt coordinator in "Captain America: Civil War" to a feature director.

Hargrave was an additional second unit director in "Avengers: Infinity War".

For his first film, Hargrave reunited with his "Avengers" family. He got "Thor" star Hemsworth to lead the film, screenplay of which is done by Joe Russo. The film is produced by Russo Brothers (Joe and Anthony Russo), Mike Larocca, Chris Hemsworth, Eric Gitter, and Peter Schwerin.

It revolves around Tyler Rake (essayed by Hemsworth), a fearless, black market mercenary, who embarks on the most deadly extraction of his career when he is enlisted to rescue the kidnapped son of an imprisoned international crime lord.

It has been shot extensively in India, along with other places around the world.

Originally titled "Dhaka", the film also stars Indian actors Randeep Hooda, Pankaj Tripathi, Priyanshu Painyulli, and Rudraksh Jaiswal.

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Chris Hemsworth's Extraction to return with part two

Filmmaker Joe Russo has closed a deal to pen a sequel to the Chris Hemsworth action film 'Extraction.' As confirmed by The Hollywood Reporter, Russo wrote the script for the first instalment and produced it with his brother Anthony via their AGBO banner.

The Netflix film is a hit. Hemsworth revealed over the weekend that the movie is on track to be the streaming service's biggest movie of all time with an estimated 90 million households tuning into the film since its April 24 release. (Netflix does not release rating data, but counts viewership based on two minutes of viewing time.)

The action-thriller was directed by Sam Hargrave, a Marvel stunt coordinator turned filmmaker, who could return for the follow-up. While shooting for 'Avengers: Infinity War,' the Russos had put together the film and approached Hargrave and later Hemsworth.

Based on the graphic novel 'Ciudad', 'Extraction' stars Hemsworth as Tyler Rake, an Australian mercenary mourning the death of his son when he takes a job to rescue a 14-year-old boy (Rudhraksh Jaiswal), the kidnapped son of an imprisoned Indian drug kingpin.

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




act

Chris Hemsworth likes non-stop action

Hollywood star Chris Hemsworth says he likes to shoot non-stop action sequences so that he can keep up with the momentum. Recently, Hemsworth was seen doing some jaw-dropping action sequences in his digital film "Extraction". The film traces the journey of Tyler Rake (Hemsworth), a fearless black market mercenary, who is on a mission to rescue the kidnapped son of an imprisoned international crime lord. The film was shot in various different locations with the film's climactic sequence culminating in an epic gun battle over a bridge.

Talking about the action packed climax, Hemsworth said: "The action was non-stop but I like it that way. Sometimes on a film when you have long waiting times, you lose momentum, especially with something so physical.

"But using an actual bridge meant we could immerse ourselves in the action and the emotion. I've worked a lot with blue and green screens and your imagination has to do a lot of work to create the world. The bridge did a lot of that work for us," he added.

After scouting multiple bridges in India and Thailand for the final action sequence, the makers decided to shoot the climax at the Lat Bua Khao Bridge in Thailand's Ratchaburi. Once the bridge was secured, the art department began creating the blockade which is shown during the final escape sequence. The blockade consisted of a whole of 132 vehicles that were piled up on the bridge -- which included 14 pickups and SUVs, 40 sedans (including police cars), 19 light trucks and vans, 12 full-sized trucks (including an armoured military vehicle), 5 buses, 22 motorbikes, 18 tuk-tuks and 7 bicycle rickshaws.

Directed by Sam Hargrave, the film's screenplay is done by Joe Russo. The action thriller, which released on Netflix on April 24, also stars Indian actors Randeep Hooda, Pankaj Tripathi, Priyanshu Painyulli, and Rudraksh Jaiswal.

The film is produced by Russo Brothers (Joe and Anthony Russo), Mike Larocca, Hemsworth, Eric Gitter, and Peter Schwerin, and is on its way to becoming Netflix's most watched feature film ever.

Meanwhile, "Avengers: Endgame" co-director Joe Russo has confirmed that he will be working on a sequel to "Extraction". Hemsworth and Hargrave are expected to return in the new action adventure.

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Madhuri Dixit shares a major throwback photo, can you identify the actor?

No matter how many years pass by, Madhuri Dixit will always be remembered as Bollywood's Dhak Dhak girl. Not everyone is as blessed with their moves as she is, and she remains a true dance icon for today's actors. And now we know, she had a thing for dance right from her childhood.

 

The actor took to Instagram to share a throwback photo from her school days, wherein she is seen performing on the stage with her sister. "This is one of my favourite memories that I have with my sister. We used to always take part in school competitions. Here's sharing a #MajorThrowback childhood memory with my favourite dance buddy. Let me know what is your favourite childhood memory! P.s. Can you tell us apart?," she wrote.


The two them look almost identical in the photo, and it is indeed difficult to differentiate. Madhuri has two sisters namely Rupa Dixit and Bharati Dixit, but she did not mention who among them is a part of this photograph.

Workwise, the actor was last seen in Karan Johar's 2019 production Kalank.




act

American Indian actor Kal Penn on sharing screen space with Irrfan Khan in The Namesake

Kal Penn who played Irrfan’s son in The Namesake can’t get over the loss. “Irrfan was such an incredible artist. What a loss. It was magical. He was so gracious and giving as an artist and a person.”

Not many know about Irrfan’s wicked sense of humour. Says Kal, “He could be so funny! He had a wonderful sense of humor and I remember his approach to the craft being particularly warm.”

Kal recalls Irrfan as an actor sheared of vanity. “He was friendly. Friendly and down to earth. There was never any attitude with Irrfan, he was so comfortable in his own skin and so fully and truly embodied his character when the cameras were rolling.”

But what according to Kal really made Irrfan special was the way he embraced silences. “I've never worked with an artist who communicates so beautifully without needing to speak. When we would shoot scenes for The Namesake, so often, Irrfan would play beat after story beat with intimacy and in silence that made me immediately at ease and in the moment.”

Kal Penn learnt a lot from watching Irrfan not only while they worked together but also when they didn’t work together. “I learned a lot from working with Irrfan but also from watching him work across different mediums, different languages, and different continents. I will always admire his work more broadly, and to have had that kind of range is so remarkable.”

Kal will remember Irran as an actor who at once no one and everyone. “He was such a commensurate artist whose performances are simultaneously intimate and reflect the humanity in each of us.”

Also Read: 5 Years Of Piku: Deepika Padukone bids farewell to Irrfan Khan with an unseen picture




act

EXCLUSIVE: Sara Ali Khan reveals how she reacted after she got REJECTED by Oxford University

For all of you who do not know, Sara Ali Khan happened to be a great student throughout her school and college days. An alumna of Columbia University, she originally wanted to go to Oxford University to pursue her higher studies, and had a difficult time coping when she did not crack through!

In a conversation with Bollywood Hungama, the actor opened up on being disheartened after the university rejected her candidature. She also recalled how she called mother Amrita Singh and nearly threw a fit. "Mom had gone out with Ibrahim, and suddenly she gets a call from me, howling. And when I mean howling, I don't mean crying in a lady-like fashion. I mean screaming, and crying loudly. She was like, 'what happened? what's going on?' I could not stop crying," she said, adding how her mother got really worried and kept asking her what went wrong. After calming herself down and breathing a little, she informed her mom that she was rejected by Oxford University.

Sara also says, she did not see it coming, given that her academics were always strong. "I had a predicted score of 41 or 42. I was very good at school. I had a good essay, a good recommendation. I didn't think that I would get rejected. I really didn't think that would happen. I remember being so, so, so upset," she added.

For those uninitiated, Sara's grandfather Mansoor Ali Khan Pataudi was quite a scholar who studied Arabic and French at Oxford's Balliol College. Sara's aunt Soha Ali Khan went to the same college to study modern history.

Love for Oxford certainly runs in the family!




act

Robots in a rush: time-aware AI aids human-machine interaction

Time is an illusion, breakfast time doubly so. In future, human workers might not be alone in experiencing frenetic mornings thanks to EU-funded researchers who have equipped robots with human-like time perception capabilities – and tested them in the kitchen.




act

COVID-19 impact: Asian football events to go ahead this year

Asia's top football competitions will go ahead this year despite the coronavirus pandemic, a senior official told AFP, although games may have to be played behind closed doors. Windsor John, general secretary of the Asian Football Confederation (AFC), said he was confident that the AFC Champions League and AFC Cup would both be completed. Both tournaments, featuring teams from throughout Asia, Central Asia and the Middle East, are on hold until at least the end of June after COVID-19 shuttered professional sport worldwide.

"Both will be played this year. We still have time," John told AFP, adding that new dates for the competitions may be known by the end of April. However, John did not rule out matches being played without fans "if that's what the health authorities need". The AFC is determined for both tournaments to go ahead "for sporting reasons and to fulfil commercial obligations", he said. His comments came after the AFC on Tuesday announced the indefinite postponement of all matches scheduled for May and June due to the virus.

The Champions League, the region's premier club competition, and the second-tier AFC Cup were both halted in March as the pandemic's spread forced governments to impose strict travel restrictions. Both tournaments are on an increasingly tight schedule, with the 32-team Champions League needing to complete four rounds of group-stage matches in July before the postponed knock-out phase begins in August.

The group phase of the AFC Cup will also have to be completed in a rush once matches resume. The finals for both tournaments -- which traditionally take a break in July, to avoid the worst of the Asian summer heat -- are scheduled to take place in November. Domestic leagues remain on hold around the world, including in China where the virus first emerged, but where football shows no sign of returning despite optimism the outbreak is under control.

Asia's extended shutdown, announced on Tuesday, also affects the two-legged women's Olympic qualifying play-off between China and South Korea, which had already been moved to June 1 and 9. June qualifiers for the men's 2022 World Cup and 2023 Asian Cup had been postponed before the AFC's announcement on Tuesday. Asian football was an early sporting casualty of the coronavirus pandemic, before competitions in Europe -- including Euro 2020 -- and the rest of the world were also affected.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Five facts you might not know about Atletico Madrid star Joao Felix

João Félix exploded onto the scene at Benfica in 2018 before a huge summer move to LaLiga with Atlético de Madrid. Here are five things you may not know about the Portuguese superstar...

1. His idol while growing up was Kaká
The similarities between the two are clear, both in playing style and appearance… brothers, anyone? But what isn’t so known is that Kaka was actually one of Joao Felix’s biggest idols growing up: the young Felix has spoken of watching YouTube video after YouTube video of the former World Player of the Year. The 20-year-old has also named Portuguese legend Rui Costa among his other inspirations while growing up.

2. Both his parents are teachers
Carlos and Carla, Joao’s parents, are both physical education teachers and he credits them with keeping him centred growing up. He has explained in interviews that his father would give him pep talks before matches and helped him stay focused during his teenage years; at the age of just 13 years he moved away from home to FC Porto’s academy, before later making the move to the capital with Benfica.

3. His first hat-trick in the Europa League was record-breaking
In April 2019, Joao hit the headlines across Europe with a stunning performance for Benfica in a Europa League match against Eintracht Frankfurt. By scoring three times in a 4-2 victory, he became the youngest ever player to score a hat-trick in the Europa League, doing so at the age of just 19 years and 152 days. That broke the previous record set by Marko Pjaca in 2014.

4. Diego Costa has taken him under his wing
From the start of pre-season, Joao and Diego Costa have forged a strong relationship. Costa is known to be a leader in the Atlético de Madrid dressing room and he quickly took the new arrival from Benfica under his wing, spending a lot of time with him and partnering with him in various drills. Both players are native Portuguese speakers, and this has helped the youngster settle in. Perhaps it’s no coincidence that it was Costa who assisted Joao’s first official goal for Atleti, against Eibar back in September.

5. His brother Hugo is also a highly rated prospect
Hugo Felix, João’s 16-year-old brother, is also highly rated and is doing well at Benfica’s academy. João was even able to celebrate goals with his brother last season, as Hugo was a ball boy at the Estádio da Luz on some matchdays. One particular goal that he scored against Vitória Setúbal ended with an emotional embrace between the siblings.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




act

COVID-19 impact: Testing time for La Liga

The Spanish football league is all set to resume in June and La Liga's India managing director Jose Antonio Cachaza has revealed that they will resort to maximum testing of players to allay any fears of them contracting COVID-19.

Spain is one of the worst hit countries with around two lakh COVID-19 cases till date.

Most La Liga teams have been allowed to return to training this week after the government eased lockdown restrictions. However, the fear of contracting the Coronavirus is widespread, said Cachaza, for which a four-phase de-escalation programme is being introduced to ensure all players are free of the infection.

"The current week is only for testing of the players and preparing the grounds," Cachaza said in an online media interaction from Spain.


Jose Antonio Cachaza

"Once players are fit to play, we will disinfect the venues. All matches will be played behind closed doors with a maximum of 250 people to avoid any unwanted situation," he added.

When asked what happens if a player tests positive once the season starts, Cachaza said: "That can always be the case. If you see the Bundesliga, they are about to start their season but still have positive cases. We will be ensuring testing at regular intervals as well to keep a check on players." Unlike the English Premier League and the Bundesliga, the La Liga is yet to finalise on a date to resume the season as Cachaza said they are awaiting authorisation from the Spanish government. "We are in constant talks with the government and as of now, we have authorisation to only start with training. Next week, the players will be allowed to train on their own, with a maximum of six players on the pitch. The following week [May 18 onwards], players will be permitted to train in small groups before a return to larger team sessions,"2020-05-08 Cachaza explained.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




act

Movie Review: The Zoya Factor

Last month, during the promotions of his flick MISSION MANGAL, Akshay Kumar made a startling revelation. He said that he believes that success depends on 70% luck and 30% hard work. His statement surprised many but the fact is that many around the world of different nationalists, communities and even class believe a lot in luck and the concept of lucky charm. No wonder, the business of numerologists and astrologists is thriving. Anuja Chauhan’s novel ‘The Zoya Factor’ tackles this idea and it was written so well that it became a bestseller. The rights were soon picked by Shah Rukh Khan’s Red Chillies Entertainment but the production house failed to make the film within the stipulated period. Aarrti Shetty and Pooja Shetty Deora then bagged the rights and turned the novel into celluloid, while keeping the title of the film the same as the book. So does THE ZOYA FACTOR turn out to be as entertaining as the novel? Or does it fail to impress? Let’s analyse. <img class="aligncenter wp-image-1020460 size-full" title="Movie Review The Zoya Factor" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/09/Movie-Review-The-Zoya-Factor.jpg" alt="Movie Review The Zoya Factor" width="750" height="450" /> THE ZOYA FACTOR is the story of a girl who considers herself unlucky but is the lucky charm for the country. Zoya Solanki (Sonam K Ahuja) is born on June 25, 1983, the day India won the 1983 Cricket World Cup final. Her father Vijayandra Singh Solanki (Sanjay Kapoor) declares that she’ll prove beneficial for the cricket team, having born on such an auspicious occasion. While growing up, Zoya indeed turns out to be a lucky charm for Vijayandra and her brother Zorawar (Sikandar Kher) when they used to play Gully Cricket. As an adult, Zoya however considers herself unlucky. The madness that her family members have for cricket makes her dislike the sport. She works as junior copywriter at an ad agency called AWB and is constantly making mistakes, much to the annoyance of her boss Monita (Koel Purie). Monita sends Zoya on ad campaign comprising of the Indian cricket team in Sri Lanka and warns not to make an error in what she calls a small, simple shoot. Zoya reaches Sri Lanka and becomes friends with Nikhil Khoda (Dulquer Salmaan), the captain of the Indian team. This is a time when the players have lost back to back matches. The World Cup is just a month away and the pressure is killing them. On the day of their match in Sri Lanka, Nikhil invites Zoya to have breakfast with the players. Here, Zoya casually mentions about her date of birth and lucky charm bit. On that day, India miraculously wins the match. The players realise that she is indeed a lucky charm. They make flimsy pretext to stop her from going back to India and try to get her to have breakfast with them for the next match. As expected, they win again. Nikhil however doesn’t believe in luck and The Zoya Factor and feels that it’s hard work that works. Yet he can’t help but fall for Zoya who too is in love with him. Meanwhile, the Indian Cricket Board's Jogpal Lohia (Manu Rishi Chadha) comes to know about Zoya. He approaches her with an offer – dine with the boys in blue before every World Cup match and get paid Rs 1 crore! Zoya however refuses the offer. Jogpal realises that they need Zoya anyhow and hence, they hand over the World Cup campaign to AWB with instructions that Zoya should be leading it. Jogpal is also aided in this plan by his nephew Robin (Angad Bedi) who is also in the team and is Nikhil's rival. He wants to see Nikhil being removed from captaincy and he uses Zoya for his ulterior motive. What happens next forms the rest of the film. THE ZOYA FACTOR is based on the novel by the same name by Anuja Chauhan. The story has a lot of promise and is also relatable. A lot of people believe in luck as well as are cricket fans and hence in a country like ours, such a story can connect with the viewers. Pradhuman Singh Mall and Neha Sharma's screenplay (with additional screenplay by Anuja Chauhan) is effective for most parts. They don’t make the film too emotional even at a single point. The idea is to keep the film light and entertaining from start to finish. In a way, it’s great but at the same time, the film misses the emotional touch. Pradhuman Singh Mall and Anuja Chauhan's dialogues are very witty and contribute a lot to the laughter. The dialogues mouthed by the commentator are sure to be loved by audiences. <span style="text-decoration: underline;"><strong>The Zoya Factor Public Review | Sonam Kapoor Ahuja | Dulquer Salmaan | Abhishek Sharma | FDFS</strong></span> <iframe id="jwiframe" class="playerFrame" src="https://www.bollywoodhungama.com/videos/first-day-first-show/the-zoya-factor-public-review-sonam-k-ahuja-dulquer-salmaan-abhishek-sharma-fdfs/?jwembed=1" width="800" height="340" frameborder="0" allowfullscreen="allowfullscreen"></iframe> Abhishek Sharma's direction is decent. He has handled some scenes with élan but there were also scenes where he really rushed through the proceedings. But the creativity of his execution comes through in several sequences. The scene where it rains is one such sequence – the focus is on Nikhil returning to the pavilion while Zoya could be seen on the giant screen in the foreground. Also, he has used subtle hints to show that the film is set 9 or 10 years back. This is evident through the use of old mobile phones. The idea to not base THE ZOYA FACTOR in 2018 or 2019 makes sense as Zoya’s age is supposed to be not more than 26 or 27. Moreover, the product placements can be an eyesore in most films but here, it’s like an integral part of the film. The Cadbury Silk TVC, for example, is well woven into the narrative. THE ZOYA FACTOR has a very impressive commencement that gives an idea about the cricket and luck elements of the film. Shah Rukh Khan’s witty narration and the animated sequence adds to the fun. The initial scenes of Zoya are okay but the film gets better once she reaches Sri Lanka and interacts with the Indian team. The romantic track also has its moments. Two scenes stand out here – Zoya’s interaction with Nikhil in the elevator and Nikhil meeting Zoya’s family and family friends. Post-interval, the film slips a bit. Also, the film seems too quick at places. The World Cup sequence in the pre-climax and climax however revives the interest. The performances are great by all actors. Sonam K Ahuja suits the part to the T. One can’t imagine anyone else for this role and she does total justice, whether in the scenes of her being love struck or acting pricey or even acting mature and giving out some important lessons to Nikhil in times of need. Dulquer Salmaan is super-dashing but he also gets his act right. He’s totally into his character and convincingly seems the captain of the team. Angad Bedi gets a great part and also screen space and is fine as the baddie. Sikander Kher is the surprise of the film. His role might remind one of Prateik’s character in JAANE TU YA JAANE NA [2008] but his part stands out and Sikandar ensures that happens. One of his best scenes is when he offers tea to the very protestors who have come to vandalize his house! Sanjay Kapoor is a natural. Manu Rishi Chadha is fine and it’s good that he doesn’t overdo the lisping bit. Koel Purie is strictly okay. Pooja Bhamrrah (Sonali) looks quite glamorous and plays the supporting part well. From the other crickets, the ones who leave the mark are Abhilash Chaudhary (Shivi), Gandharv Dewan (Harry) and Sachin Deshpande (Lakhi). Shankar-Ehsaan-Loy's music is in sync with the film’s mood. <em>'Lucky Charm'</em> is the best of the lot followed by <em>'Kaash'</em> and <em>'Maheroo'</em>. <em>'Pepsi Ki Kasam'</em> is played in the end credits. Indrajit Sharma and Parikshit Sharma's background score (with additional background score by Kingshuk Charavarty) is dramatic and adds to the fun. Manoj Lobo's cinematography is suitable and the lensman does a good job in the cricket scenes especially. Theia Tekchandaney, Abhilasha Devnani and Gayatri Thadani's costumes are very appealing. The ones worn by Sonam especially are too good which was expected. Rajat Poddar's production design is rich. After Studios' VFX is quite good, although it’s a bit poor in some scenes. But overall, it’s a good job considering that quite a many scenes are shot against the green screen. Utsav Bhagat's editing gives the film a pacy feel but some scenes could have had a bit of slow, slow-motion effect especially in the finale. On the whole, THE ZOYA FACTOR is a feel-good popcorn entertainer that works chiefly due to concept, treatment, humour and performances. At the box office, it has the potential to grow dramatically due to a good word of mouth.




act

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

Posted by Equitymaster
      

Unnerving movements for debt mutual funds investors!

Just last week my colleague, Divya explained the fiasco at Franklin Templeton Mutual Fund, which took a decision to abruptly wind down six debt mutual fund schemes, namely:

In all, the above debt mutual fund schemes had an AUM of Rs 30,854 crore as of March 31, 2020.

The fund house cited, "severe market dislocation and illiquidity in the fixed income space" caused by the COVID-19 pandemic, as the reason behind the decision.

--- Advertisement ---
FREE Guide for You: Find the Next Crorepati Stock in this Futuristic Industry

Tanushree Banerjee, the co-head of research, just shared her latest guide:

Find the Next Crorepati Stock in this Futuristic Industry

And she has agreed to make it available for free for a limited time.

If you've not claimed your free copy, then do so now. It might not remain free for long. One more thing...

Tanushree has also discovered one stock from this futuristic industry... which she strongly believes has the potential to make one Rs 1 crore or more in the long run.

She'll reveal more details about this stock in her 'One Stock Crorepati MEGA Summit'

We expect this to a huge event... with more than 10,000 people attending it LIVE.

You simply can't miss it.

Click Here to Download the Guide & Block Your Seat Now. It's Free.
------------------------------

Investors in these schemes are now left in the lurch: they cannot sell (nor buy) these funds and will have to rely on the fund house to get back their hard-earned money. Investors will have to hold their investments in these schemes until liquidity is available to the mutual fund house by either selling securities in the fund's portfolio or receiving maturity proceeds.

Currently, a fact is, not just Franklin Templeton Mutual Fund, but debt mutual fund schemes of many other fund houses are have a remarkable exposure to stressed assets.

According to portfolios disclosed on March 31, 2020, mutual funds collectively held Rs 1.38 trillion of exposure to debt securities issued by Non-Banking Financial Companies (NBFCs). Approximately Rs 51,000 crore of the exposure in debt securities has a maturity profile of less than 3 months; and now, mutual funds fear that there will be defaults.

NBFCs and other corporate borrowers claim that they do not have enough liquidity to fulfil their obligations and have requested for additional time. Given that, rating downgrades from rating agencies look likely.

However, some companies are playing smart: they are approaching the Courts to prevent a rating downgrade, plus seeking a stay on sale of pledged shares. Of course, they are well within their right to approach the judicial authority or Courts and contest.

Join Now: PersonalFN is now on Telegram. Join FREE Today to get 'Daily Wealth Letter' and Exclusive Updates on Mutual Funds

But the capital market regulator, seems to be in no mood in offering them any leeway. On the contrary, the regulator is asking the mutual fund industry to act against the issuer of securities who are possibly carrying high credit risk; facing asset quality problems.

Delays in repayments would mean the creation of more side-pockets by mutual funds. And in my view, more the losses investors suffer, more frustrating it will be for mutual fund houses and their investors. Eventually retail and High Net-worth Individuals, particularly, will lose confidence and may not be keen to invest in debt funds.

If you are wondering what has gone wrong, here's everything you may like to know about liquidity, credit risk and the exposure of mutual funds to corporate debt in the present scenario.

If you remember, the capital market regulator had mandated large corporations to source at least 25% of their borrowings from the bond markets from the beginning of FY 2019. This move was expected to deepen Indian bond markets and reduces the stress on banks. Just a year later, the same move is proving fatal for companies that went to the bond markets to raise money.

Now that the COVID-19 lockdown has forced many business units to shut off temporarily or operate much below their optimal operational capacity with a skeletal staff, companies, including the large organisations that relied heavily on debt markets, are finding it difficult to honour maturity claims on Commercial Papers (CPs), Non-Convertible Debentures (NCDs), and Bonds.

--- Advertisement ---
Corona Crash Alert: 7 Stocks You Absolutely Don't Want to Miss

Our Co-Head of Research, Tanushree Banerjee, has identified 7 stocks that could do exceedingly well in the coming years riding on a rare economic event.

And with the corona crash, this opportunity has only become even more exciting.

And she says those who get into these 7 stocks right now have the chance to make potentially LIFE-CHANGING returns in the long run.

So will you be among those who acts on this opportunity now? Or will you be among those who will kick yourself later not taking action now? The choice is yours.

Full details on these 7 stocks are included in Tanushree's special report. And by acting fast, you can claim a copy of this report virtually FREE.

Click here to find out how you can claim your FREE copy
------------------------------

They were hoping for an 'at-par treatment' with Banks when the Reserve Bank of India (RBI) offered a moratorium period to borrowers. But the RBI circular came to them as a shocker. The devil was in the details.

On March 27, 2020, the RBI issued a notification allowing a three-month moratorium on all outstanding term loans and working capital facilities on account of disruptions caused by the outbreak of coronavirus. This circular did not cover around 10 thousand NBFCs, who mainly depend on CPs, NCDs, and Bonds for their funding requirements.

As far as NBFCs are concerned, the RBI has already provided them with a liquidity facility through the banking channel. The RBI directed banks to utilise funds infused under Targeted Long Term Repo Operations (TLTRO) facility to invest in 'investment-grade' CPs, NCDs, and Bonds issued by NBFCs. Also, RBI mandated banks to allocate 50% of Rs 50,000 crore of liquidity introduced by way of TLTRO 2.0 to small and mid-size NBFCs and small finance banks.

But NBFCs seemed not too happy with just liquidity and many of them are now approaching courts to prevent rating downgrades. This is not a best practice for the industry, although fund houses may be well within their rights to contest.

Recently, Indiabulls Housing Finance was successful in receiving the interim order from Delhi High Court, throttling any coercive action against the housing finance company for its inability to repay its bondholders. The Delhi High Court will hear the case further on May 19, 2020.

This has added to the worries of mutual fund houses that now fear other NBFCs will follow the same path.

The capital market regulator, only recently (a few days ago) following the three moratorium by RBI (due to disruptions caused by COVID-19 pandemic) has relaxed the valuation norms for debt and money market instrument held by mutual funds vide a circular dated April 23, 2020, wherein it states as under:

  • Based on assessment, if the valuation agencies appointed by AMFI are of the view that the delay in payment of interest/principal or extension of the maturity of a security by the issuer has arisen solely due to COVID-19 pandemic lockdown and/or in light of the moratorium permitted by Reserve Bank of India (RBI) (vide notification no. RBI/2019-20/186, dated March 27, 2020) creating temporary operational challenges in servicing debt, then valuation agencies may not consider the same as a default for the purpose of valuation of money market or debt securities held by Mutual Funds.

    However, in the scenario, as stated above, if there is any difference in the valuation of securities provided by two valuation agencies, the conservative valuation shall be accepted.

But then what is the point of coming up with these valuation norms as an afterthought, and not in close synchronisation when the RBI came with its notification a month ago?

The damage now is already done and companies are anyways approaching the Courts to prevent a rating downgrade.

Let's say shares of a company are pledged and to recover the proceeds -- if they cannot be sold due to a court order -- then such lending would be as good as unsecured lending.

Also, why should that not be construed as an instance of deviation from the stated fundamental attributes of a debt mutual fund scheme? After all, mutual fund investors invest in debt fund schemes taking into account a certain level of risk. Change in the risk profile of a scheme is a change in the fundamental attribute/s.

According to India Ratings, NBFCs having the asset base of Rs 500 crore to 5,000 crore, largely fall between "A" and "BBB" rating categories.

The mid-path could be a decision on payment or deferring the payment in consultation with all stakeholders, including debenture trustees. The industry will require a blanket resolution because a case-to-case resolution approach is cumbersome and may create more chaos.

Unless the RBI takes a clear stance on NBFCs and other financial institutions, mutual fund houses are likely to feel the heat of redemptions. Suppose, there's no further statement issued by the banking sector regulator; mutual funds will have to be prepared to handle large-scale defaults, which might look inevitable. After all, a majority of NBFCs' customers are retail borrowers and they enjoy a moratorium on the EMI payment for 3-months. This has been the trickiest part for NBFCs.

While COVID-19 outbreak has been the genuine reason for the potential defaults this time, asset-liability mismatches of NBFCs are well-known. Many NBFCs have gone overboard with cheap credit available during stable market conditions. Their credit underwriting has been questioned widely. The industry has also witnessed belly-up instances such as IL&FS and DHFL. Many mutual fund houses have burned their fingers badly in such defaults.

At the time of writing this piece, to ease the liquidity pressure on mutual funds, the RBI today decided to provide a special liquidity facility of Rs 50,000 crore for mutual funds. Under this facility, the RBI will conduct repo operations of 90 days tenor at the fixed repo rate. This will be on-tap and open-ended, and banks can submit their bids to avail funding on any day from Monday to Friday (excluding holidays). The scheme is available from today i.e., April 27, 2020, till May 11, 2020, or up to utilization of the allocated amount, whichever is earlier. The Reserve Bank will review the timeline and amount, depending upon market conditions.

The RBI has stated further that the liquidity support availed under the Special Liquidity Facility for Mutual Funds shall be used by banks exclusively for meeting the liquidity requirements of mutual funds by, 1) extending loans; and (2) undertaking outright purchase of and/or repos against the collateral of investment-grade corporate bonds, CPs, debentures and certificates of Deposit (CDs) held by mutual funds.

Having taken this measure, keep in mind that it does not make investing in debt mutual funds risk-free. Considering the prevailing investment environment, you should stay away from mutual fund schemes whose portfolio characteristic appears compromised. Also, avoid credit risk funds and corporate bond funds as they are likely to be more vulnerable amidst the financial crisis followed by COVID-19 pandemic.

As a thumb rule: Choose mutual fund schemes from fund houses that follow prudent judicious investment processes and stringent risk-management systems.

In these uncertain times, it would be wise sticking to liquid funds and overnight funds while considering debt funds.

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.

As with all financial matters, better be safe than sorry!

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.

Each fund recommended under FundSelect goes through our stringent process, where they are tested on both quantitative as well as qualitative parameters.

Every month, PersonalFN's FundSelect service will provide you with insightful and practical guidance on equity mutual funds and debt schemes - the ones to Buy, Hold, or Sell.

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

Join Now: PersonalFN is now on Telegram. Join FREE Today to get 'Daily Wealth Letter' and Exclusive Updates on Mutual Funds

Author: Rounaq Neroy

This article first appeared on PersonalFN here.



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

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.




act

Why Tactically Invest Across Asset Classes amidst COVID-19 with Quantum Multi-Asset Fund Of Funds

Posted by Equitymaster
      

Coronavirus or Covid-19 is showing no signs of receding. On the contrary, the number of cases is increasing by the day and the situation is rather depressing, as almost every region of the world and country is infected.

Sadly, there is no antidote or a vaccine conclusively developed to fight this deadly pathogen yet. And according to the World Health Organisation (WHO), Coronavirus will be with us for a long time. Most cases are still in the early phase of the epidemic and some countries which were affected early in the pandemic, are now seeing a resurgence in the number of cases, said the WHO Chief.

COVID-19 is truly playing havoc and may be followed with a financial crisis owing to the lockdowns imposed to contain the spread. The risk of global recession undeniably looms large. "This crisis is like no other", as what the International Monetary Fund's (IMF), Chief Economist, Ms Gita Gopinath wrote in the foreword to the World Economic Outlook, April 2020.

Graph 1: The virus has spread even to Indian equities

The graph above depicts the S&P BSE Sensex falling off the cliff and investors' wealth being eroded. Since the all-time high of the S&P BSE Sensex (42,273.87 points made on January 20, 2020), we have fallen more than -25% and overall sentiments seem downbeat and volatility has heightened.

--- Advertisement ---
FREE Guide for You: Find the Next Crorepati Stock in this Futuristic Industry

Tanushree Banerjee, the co-head of research, just shared her latest guide:

Find the Next Crorepati Stock in this Futuristic Industry

And she has agreed to make it available for free for a limited time.

If you've not claimed your free copy, then do so now. It might not remain free for long. One more thing...

Tanushree has also discovered one stock from this futuristic industry... which she strongly believes has the potential to make one Rs 1 crore or more in the long run.

She'll reveal more details about this stock in her 'One Stock Crorepati MEGA Summit'

We expect this to a huge event... with more than 10,000 people attending it LIVE.

You simply can't miss it.

Click Here to Download the Guide & Block Your Seat Now. It's Free.
------------------------------

On a year-to-date basis, Indian equity is down nearly -23.2% (as of April 27, 2020), while gold -- with uncertainty looming around the world -- has exhibited its sheen and demonstrated its trait of safe haven and an effective portfolio diversifier, clocking nearly +5.0% absolute return as of April 27, 2020.

Graph 2: YTD Performance of key asset classes
Data as of April 27, 2020
After the imposition of lockdown to fight COVID-19, the spot market prices were not updated.
*Category average returns of Liquid Funds considered
(Source: bseindia.com, MCX Gold, PersonalFN Research)

The graph above validates the importance of tactical asset allocation. The key lesson here is: all asset classes will not necessarily move in the same direction (up or down) always - over the long-term; some may even move in the opposite direction as what we have seen in the recent past (in the case of equities and gold).

As we (the world) continue to fighting COVID-19 and the aftereffects of it are conceivable, a further correction cannot be ruled out and the bottom is unknown. COVID-19 is likely to impact corporate earnings amidst a time when India is already facing slowdown blues. As people are quarantined, demand would remain muted and inflation risk will begin to surface, particularly in food prices.

So, although the current levels offer a decent value-buying opportunity, skewing your portfolio completely to equity as an asset class could endanger wealth creation. In such times you, as an investor, need to follow tactical asset allocation while you aim to generate wealth.

--- Advertisement ---
Corona Crash Alert: 7 Stocks You Absolutely Don't Want to Miss

Our Co-Head of Research, Tanushree Banerjee, has identified 7 stocks that could do exceedingly well in the coming years riding on a rare economic event.

And with the corona crash, this opportunity has only become even more exciting.

And she says those who get into these 7 stocks right now have the chance to make potentially LIFE-CHANGING returns in the long run.

So will you be among those who acts on this opportunity now? Or will you be among those who will kick yourself later not taking action now? The choice is yours.

Full details on these 7 stocks are included in Tanushree's special report. And by acting fast, you can claim a copy of this report virtually FREE.

Click here to find out how you can claim your FREE copy
------------------------------

Tactical Asset Allocation with Quantum Multi Asset Fund of Funds

To invest sensibly in the current times, you need a Multi-Asset Fund that invests in mainly three asset classes: equity, debt and gold; and is truly balanced.

Among the plethora of Multi-Asset Funds, the Quantum Multi Asset Fund of Funds (QMAFOF) incepted on July 11, 2012, is truly balanced and holds well-diversified portfolio (across the three key asset classes: equity, debt and gold) at all the times -- unlikely many of its peers who swayed by the excess exuberance in equities, lost sense, and eroded investors wealth.

Table 1: Asset Allocation of Quantum Multi Asset Fund of Funds
Instruments Indicative allocations (% of Total Assets) Risk Profile
Minimum Maximum High/Medium/Low
Units of Equity Schemes 25% 65% Medium to High
Units of Debt / Money Market Schemes 25% 65% Low to Medium
Units of Gold Scheme 10% 20% Medium
Money Market instruments, Short-term Corporate debt securities, CBLO, Repo / Reverse Repo in government securities and treasury bills only 0% 5% Low
(Source: Scheme Information Document)

The Scheme predominantly invests in the units of Equity, Debt / Money Markets and Gold schemes of Quantum Mutual Fund. Currently, the following schemes are used to gain exposure to a particular asset class:

For equity - Quantum Long Term Equity Value Fund, Quantum Nifty ETF

For debt & money market instruments - Quantum Liquid Fund, Quantum Dynamic Bond Fund

For Gold - Quantum Gold Fund (ETF)

The Units of any other Equity and Debt / Money Markets scheme launched by Quantum Mutual Fund from time to time would be eligible to be part of the above asset allocation components.

Although QMAFOF aims to invest predominantly only in the schemes launched by Quantum Mutual Fund, QMAFOF may seek to invest in the units of similar schemes of other mutual fund houses in case of any investment and regulatory constraints that arise that prevent the Scheme from increasing investments in the schemes of Quantum Mutual Fund.

The investment objective of Quantum Multi Asset Fund of Funds is, "to generate modest capital appreciation while trying to reduce risk (by diversifying risks across asset classes) from a combined portfolio of equity, debt/money markets and gold schemes of Quantum Mutual Fund"

QMAFOF benchmarks it against the Crisil Composite Bond Fund Index (40%) + S&P BSE Sensex Total Return Index (40%) + Domestic price of Gold (20%).

Being a fund of fund, this benchmark is most suitable to compare QMAFOF's performance. The unique combination clubs together the relatively risky assets with other stable asset classes in the portfolio.

Backed by an astute investment strategy, taking the relative valuations between asset classes into consideration such as Price-to-Earnings relative to historical averages; the relationship between earning yield to bond yield relative to historical averages; and macroeconomic factors prevailing globally and within India, the two fund managers of QMAFOF, namely Mr Chirag Mehta (MMS - Finance, M.Com, and CAIA with over 13 years' experience in research and investments) and Mr Nilesh Shetty (B.Com, MMS -Finance, and CFA with collectively 16 years in equity markets), have generated respectable returns for investors.

Table 2: Report card of QMAFOF versus some of its peers
Scheme Name AuM (Cr) Returns since Shri Narendra Modi first took oath as Prime Minister of India on May 26, 2014 Returns since the all-time high of the S&P BSE Sensex (From Jan 20, 2020 to April 27, 2020)
Absolute Returns Annualized Returns Absolute Returns
SBI Multi Asset Allocation Fund 220.63 65.50% 8.90% -4.60%
ICICI Prudential Multi-Asset Fund 9022.56 50.50% 7.20% -18.90%
Quantum Multi Asset Fund of Funds 16.23 49.70% 7.10% -4.40%
Axis Triple Advantage Fund 258.6 46.90% 6.70% -14.30%
HDFC Multi-Asset Fund 198.05 36.10% 5.30% -14.00%
UTI Multi Asset Fund 564.1 28.40% 4.30% -12.00%
Data as of April 27, 2020
Direct Plan considered and the peer list is not exhaustive
(Source: moneycontrol.com)

Even as the equity market is panting for breath attributable to COVID-19 and volatility has intensified, QMAFOF due to its sensible asset allocation to equity, debt and gold through its underlying portfolio, has fared relatively better than some of the peers.

ICICI Prudential Multi-Asset Fund, Axis Triple Advantage Fund, HDFC Multi-Asset Fund, and UTI Multi-Asset Fund, on the other hand, have all eroded investors wealth posting double-digit negative returns (see Table 2) in this downturn. Some of these schemes have fared well during upswings by keeping to the allocation to equities high, but on the downside, they have not managed the risk very sensibly. Investors, as a result, have experienced a roller-coaster ride in the journey of wealth creation.

A multi-asset fund, ideally, is expected to be truly balanced and sensibly allocate its assets whereby the downside risk of one asset class is compensated by the positive returns of the other asset classes.

Here are five good reasons to invest in Quantum Multi Asset Fund of Funds

  1. You gain from a diversified portfolio across asset class which, in turn, reduces risk and optimizes returns.
  2. You do not have to worry about portfolio rebalancing; the fund manager will astutely do it for you at regular intervals in the endeavour to achieve the set-out investment objective of the fund.
  3. Portfolio tracking will be easy for you instead of tracking 10 different schemes
  4. You will benefit from the lowest expense ratio in the category
  5. And above all, Quantum Mutual Fund's strong research capabilities across various asset markets - equity, debt and gold, -- with robust investment processes & systems followed at the fund house.

Suitability of Quantum Multi Asset Fund of Funds

QMAFOF is a perfect fund for investors looking to tactically diversify the portfolio with a single fund across equity, debt and gold, plus leave the aspect of rebalancing to the discretion and expertise of the fund manager.

Furthermore, the fund is appropriate for investors seeking long term capital appreciation, who have a moderately high-risk appetite, and an investment time horizon of 3 to 5 years.

It is the best time to invest in the Quantum Multi Asset Fund of Funds. Valuation-wise, Indian equities look attractive and there appears to be a decent margin of safety (with a high return potential if the equity markets ascend).

Similarly, given the uncertainty surrounding the world, gold is expected to display its lustre. The economic uncertainty surrounded by the COVID-19, GDP growth rates being revised downwards, easy monetary policy action and stance followed by central bank across the world, geopolitical tensions, trade tension, and increased stock market volatility are likely to keep spotlights on gold.

Likewise, with credit risk getting amplified, it makes sense to have exposure to a pure Liquid Fund (that does not take exposure to Commercial Papers issued by private entities). Now that policy rates are already lowered by RBI to address growth concerns, it does not make much sense to take exposure to the longer end of the yield curve; it could prove less rewarding and risky (may encounter high volatility) in the foreseeable future. Deploying your hard-earned money is short-end of the maturity curve, would be far better.

By investing in Quantum Multi Asset Fund of Funds, you will be able to balance the risk better with a sensible investment strategy in place.

Just as an excess drug dosage cannot treat COVID-19, your investment portfolio, too, needs just a fair amount of diversification to clock optimal risk-adjusted returns in the journey of wealth creation.

Go ahead and consider investing in Quantum Multi Asset Fund of Funds.

Happy Investing!

Join Now: PersonalFN is now on Telegram. Join FREE Today to get 'Daily Wealth Letter' and Exclusive Updates on Mutual Funds

Author: Rounaq Neroy

This article first appeared on PersonalFN here.



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

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.




act

COVID-19 impact: Nick Kyrgios to fulfil free food promise

Australian tennis star Nick Kyrgios has apparently followed through on a promise to help people going hungry in the coronavirus shutdown, with social media images showing boxes of essential items prepped for delivery.

The controversial Kyrgios, infamously outspoken and known for his fiery on-court antics, said on Monday he would personally drop food on doorsteps after COVID-19 restrictions closed down entire industries, forcing huge numbers of people out of work across Australia. People queueing for welfare payments across the country have been likened to scenes from the Great Depression. "Please don't go to sleep with an empty stomach," Kyrgios, the world number 40, posted on Instagram Monday. "Don't be afraid or embarrassed to send me a private message. I will be more than happy to share whatever I have.

"Even just for a box of noodles, a loaf of bread or milk. I will drop it off at your doorstep, no questions asked!" he said in a post that attracted almost 100,000 likes. His mother, Norlaila Kyrgios, posted on Instagram over the weekend a photo of a table laden with food -- including bread, fruit and canned goods -- with the caption "dining room or food distribution centre".

Images of Canberra-based tennis star's Instagram stories shared on News Corp websites showed boxes of essentials captioned "deliveries in progress". It comes just months after the 24-year-old led a bushfire relief campaign that raised millions of dollars. Kyrgios gave Aus$200 (US$125) for every ace he hit across his home tennis summer, which ran until the end of the Australian Open. Other players and Australian Open organisers jumped on board the fundraising drive, also contributing large sums to people affected by the deadly fires.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

COVID-19 impact: Rafael Nadal 'very pessimistic' about return of tennis

Rafael Nadal said on Sunday that he was "very pessimistic" over a full resumption of the professional tennis circuit which has been halted by the coronavirus pandemic. "From my point of view, I'm very pessimistic that the circuit can resume a normal activity," said the world number two in a virtual chat origanized by the Spanish Federation of Tennis (RFET) involving the team that won last year's Davis Cup.

"In tennis, you need to travel every week, stay in hotels, go to different countries," Nadal said. "Even if it we play without an audience, to organise any event you need a lot of people involved, which cannot be ignored. At an international level I see a serious problem." Nadal said he hoped that restrictions can be relaxed gradually, but added that he was aware that the global health situation is serious. "We have had a very tough month and a half, with many irreparable losses as well as others that are less important that will still bring great suffering to society, I hope only for a few months, at the economic level," he said.

"Many people are going to lose their jobs." "These are sad moments when you see so many people dying," he said. Nadal had already told Spanish radio that he thought it would be "difficult" to stage one of the majors "in the short or medium term." Nadal has been working with his friend Pau Gasol, the Spanish basketball player, to raise funds in the fight the coronavirus. Along with other leading tennis players such as Roger Federer and Novak Djokovic, Nadal is one of the promoters of a plan to create a fund to help low-ranked players who are suffering financially.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Rafael Nadal: 2020 is practically lost for tennis

Rafael Nadal has said he views the rest of this year as "practically lost" for tennis and would even be relieved if the sport returned as normal at the start of 2021. The men's and women's tours have been stopped due to the coronavirus pandemic, with Wimbledon cancelled for the first time since World War II and the French Open postponed until the end of September. But Nadal, who has won 12 of his 19 grand slam titles at Roland Garros, believes the chances of tennis restarting before the end of this year are slim.

"I hope to play as soon as possible but if I think about it logically, we travel every week from one place to another, we are in contact with hotels, airports, all in different places," Nadal said in an interview with Spanish newspaper ABC on Tuesday. "If you gave me the ability to guarantee that in January 2021, a normal season like before will begin, I would sign for that now with my eyes closed."

In a separate interview with El Pais, Nadal said: "I'm more looking to the Australian Open than what happens later this year. I see 2020 as practically lost." Nadal at 33 is in the latter stages of his illustrious career and the hiatus came just as he looked to be closing in on the 20 major titles won by the 38-year-old Roger Federer.

If tennis returns this summer, Nadal could choose to skip the US Open and save himself for the French, given there would be just a week between the two. "It's all hypothetical because I don't think it will be like that," said Nadal to ABC. "My feeling, and I say it with sadness and I won't lie to you, is that we are losing a year of our lives.

"And at 33 or 34 years old that is much more valuable than at 20 when you have many more years ahead, even if it's still a year. "Frankly, I think that will not happen. From the US Open to Roland Garros with a week in between, I just don't think we can play."

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Travel: Head out to Khandala for cliff traversing, other adventurous activities

What is life if full of care, you have no time to stand and stare. To ensure that you stand and stare at the beauty that is the Western Ghats, Mapping Journeys is organising trekking, rappelling and cliff traversing at the Duke Nose peak of Khandala for four consecutive days, on the fourth edition of The Duke Nose Festival.

"There will be an 8 am pick up at Lonavala station, from where we'll proceed to the Duke Nose base camp for breakfast, followed by an hour-long trek to the peak. There, our technical team will be ready with rappelling gear. The wall stretches to above 1,000ft and the first 350ft of rappelling will be downwards," says Veeral Raj, co-founder of the travel firm. "Next up is cliff traversing, which is a walk along a cliff overlooking a valley. The participants will be harnessed to a rope for safety," Raj explains.

He adds that the final sport is often an element of surprise for participants as people usually look forward to rappelling alone. With a technical team that boasts 12 years of experience in the field, Raj assures the trip is safe for first timers and for people across all ages. So put on those trekking shoes and head out for an adventurous weekend.

On February 10 to 13, 8 am onwards meeting point Lonavala Railway Station.
Log on to insider.in
Call 9867697306
Entry Rs 1,650

Catch up on all the latest Mumbai news, current affairs from Mumbai, local news, crime news and breaking headlines here

Download the new mid-day Android and iOS apps to get updates on all the latest and trending stories on the go





act

Actor, ex-cricketer Saqib Saleem wants underprivileged children to learn cricket


Saqib Saleem swings the bat in a CCL Tournament

A love for cricket is common between Saqib Saleem and coach Rajeev Mehra, much like most Indian men. What sets them apart though, is how much they want to give back to the game. Saleem, who hails from Greater Kailash in Delhi, is poised to start a cricket academy in his hometown, that will cater exclusively to underprivileged children. The two have known each other since the time Saleem, a state-level cricketer, was playing for Delhi in a match against Mumbai, that Mehra was part of. "I remember Delhi won that game," laughs Mehra as we get the two chatting. "Saqib was very keen on the game, wanting to learn new things. His discipline during practise sessions was admirable." After Delhi, Saqib went on to play for Kashmir too. "I played for a year, after moving there. My mother is Kashmiri. However, as much as I loved the sport and was devoted to it, life clearly had other plans," the actor says.

While the two kept in touch, they only got the chance to meet again, four months ago. "I was toying with the idea of starting a cricket academy because I missed having to do something with the game. I was clear that I did not want to build an institution that would become one more of many. It's Rajeev who suggested we do something to help those in need." Mehra interjects, "I have worked with the less fortunate. I make it a point to have at least four of them in each training session. So, yes, it is familiar territory." It was Mehra's approach to the game, that convinced Saleem about the collaboration. "I needed someone who had a connect with the children. And Rajeev was perfect."


Coach Rajeev Mehra at his training academy in Mumbai

Making cricket, that is largely seen as an elite sport, accessible to those deprived of opportunities could be a task. But Mehra doesn't want to complicate things. "Ultimately, it's about helping the kids play. Give them the space, the equipment, the push." It is the uber glamorisation of the game that has turned it into an occupation of the elite, opines Mehra. "Cricket has always been India's top sport, but the way it has been commercialised, is affecting the talent pool. Coaches are demanding crazy amounts — currently the price of one personalised session in Mumbai can go up to Rs 2,000 — and parents are willing to pay. I don't remember receiving formal training. Most of us have learnt the sport by playing with friends who were equally serious about it." The 30-year-old coach who runs his own academy in Mumbai, often attends inter-school matches where municipal schools participate, to spot talent. "The lower strata is a goldmine of talent."

Saleem shares a slightly different view. It is not the sport that is elite, he argues, but that access is tough. "Today, a decent cricket bat costs Rs 20,000. So, even though we have abundant talent, not everyone can afford it. We want to find the gems who can't," he says, adding, "I spend a lot of time watching interviews of veteran cricketers. I remember one of Imran Khan, who spoke of how he discovered Wasim Akram, then a young boy from a small city, and groomed him for the national side. And gave the world a cricketing legend. That is my inspiration."

Mehra is in the process of formulating a curriculum for the academy that will train no more than 40 kids aged seven to 18 at a time. "I want each kid to get adequate personal attention," Saleem says, ahead of travelling to Delhi next month for selection. "I think I was being selfish, I just wanted a chance to go back home and find more excuses to play the game," he laughs.





act

Is it worth going the gluten free way? Fact or just a fad

Representational picture

Now days, a gluten-free lifestyle has become one of the most popular diet trends in the market. Every shop/ mall has set of foods stating 'gluten free food'. The demand for these gluten-free foods is increasing. In order to understand the gluten free food trends taking place in the market it is important to understand gluten.

Gluten is a protein found in wheat, barley, rye, oats and their derivatives. Some people are found to be sensitive to gluten and show mild symptoms of intolerance such as chronic diarrhea and vomiting. Celiac disease is associated with an allergic reaction within the inner lining of the small intestine. The linings of the small intestine are destroyed by inflammations caused by the immunological reaction with gluten.

Dr Pradeep Gadge, Diabetologist, Gadge Diabetes Centre, says, "Gluten free products have been around for years suffering from celiac disease. However, the demand has now widened beyond medical needs. The food market started to grow beyond people who were just needs based and into a lifestyle choice. As many people think gluten-free diets are healthier and are giving up gluten to lose weight. It’s basically a fashion. Another common belief that gluten-free diets are healthier (and a growing availability of alternative breads and grain products) are also driving the trend. Gluten-free products have turned from being medicated products for gluten intolerant people to a lifestyle choice. Gluten-free foods are gaining popularity partly because manufacturers and marketers are aligning new product developments with other emerging trends in the food market. These trends include use of plant proteins and grains like quinoa."

There are many celebrities who follows fad diets for weight loss and people are just following them without knowing the medically reason. People want quick fixes, and diets are frequently used as a quick fix for issues. There are many restaurants and café where gluten free foods/dishes are available, and people are following that thinking it’s a low fat and healthier. But that is not true a gluten-free dish may contain a lot more butter or oil, and that is not healthier. It is always better to consult a qualified dietician or nutritionist before starting a diet.

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates





act

Learning physics may activate new brain areas

Representational Image

Brain areas that are traditionally not associated with learning science can become active when people are confronted with solving physics problems, finds a study. This shows that the brain's activity can be modified by different forms of instruction.

"The neurobiological processes that underpin learning are complex and not always directly connected to what we think it means to learn," said lead author Eric Brewe, Associate Professor at Drexel University in Pennsylvania, US.

The findings, published in the journal Frontiers in ICT, showed that newer brain regions associated with attention, working memory and problem solving -- the lateral prefrontal cortex and parietal cortex, sometimes called the brain's "central executive network" - showed activity when dealing with such problems.

Another area that became active was the posterior cingulate cortex, which is linked to episodic memory and self-referential thought.

"These changes in brain activity may be related to more complex behavioural changes in how students reason through physics questions post- relative to pre-instruction," Brewe noted.

"These might include shifts in strategy or an increased access to physics knowledge and problem-solving resources," he said.

Using fMRI (functional magnetic resonance imaging) to measure blood flow in the brain, the researchers looked to map what areas become active when completing a physics reasoning task, both before a course on the concepts and after.

A small group of students were taught a physics course that utilised "Modeling Instruction," a style of teaching which encourages students to be active participants in their learning.

"This suggests that learning physics is an imaginative process, which is not typically how people think of it," Brewe said, in reference to the study which aimed to further explore how students use their own mental models to understand new concepts.

"The idea of mental models is something that people who research learning love to talk about, but have no evidence of what is happening inside brains other than what people say or do," Brewe said.

"We are actually looking for evidence from inside the brain."

Catch up on all the latest Crime, National, International and Hatke news here. Also, download the new mid-day Android and iOS apps to get latest updates

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.




act

Analysing Ahalya: Research centre invites film buffs to decode characters


A still from the short film Ahalya (2015)

We have all done it at some point in our lives. Watched a film or a documentary and played detective with it. Why does Anakin Skywalker get seduced by the dark side to become Darth Vader? Or, what is that makes Kareena Kapoor's character so confident and self-assured in Jab We Met? Or, what's the allure of the amoral Ma Anand Sheela in Wild Wild Country?

We love deducing human behaviour and motivations, especially those characters that seem to suggest one thing on the surface, and something else if you dig deeper. Which is why a recent screening of Ahalya, a short Bengali film made by Sujoy Ghosh, found nearly 120 takers at G5A Foundation in Mahalaxmi. A free screening by the Psychoanalytic Therapy and Research Centre (PTRC), the film was followed by a discussion through the lens of psychoanalysis.

Instead of looking at the film-making aspects, the psychological and emotional motives of the characters were the focus. Leading the discussion were psychoanalysts Nuzhat Khan and Micky Bhatia, faculty members at PTRC. "A great deal of our work and training, right from our students days, has got to do with mental illnesses, but there is a lot that we do which is not related to this. At seminars, we watched films, gaining a much deeper understanding of the characters," says Khan, recounting sessions where they have broken down films such as Black Swan, known for their obvious psychological depth, and also those such as Sanjay Leela Bhansali's Devdas.


PTRC's monthly screening followed by a psychoanalytic discussion. Pic/PTRC

Ghosh's film made headlines when it was streamed on YouTube in 2015, for its gripping plot that revisits the tale in The Ramayana. While you can look up the film online, Khan says that the discussion after the screening showed that there were several layers to the characters. One reading took on the young police inspector Indra's 'castration anxiety', one of Sigmund Freud's earliest psychoanalytic theories. Fearing punishment by Ahalya's husband, old enough to be his father, Indra tries to restrain his evident interest in Ahalya.

However, after he gets intimate with Ahalya, he is turned into a figurine — that's castration, symbolically, by the elderly husband showing the younger man who's boss. And, for that matter, Ahalya pretends to be an ingénue, while in fact she is a seductress. Once you explore these layers, says Khan, you will realise that there are no true villains in the film. "Had the filmmaker been there, he would have been aghast hearing our analysis," she laughs, adding, "Filmmakers, like other artists, express their subconscious or unconscious through their works. They are only semi-conscious of what they are doing. If they fully knew why, they may never make a film or any work of art.

"PTRC, a charitable trust, has been working in Mumbai for more than 40 years, almost quietly, to provide mental health services and also train professionals in the area. Given the rising interest in mental well-being, we use terms such as "repress" and "Oedipus complex" in our day-to-day lives. Banu Ismail, a child analyst and psychoanalyst with PTRC, says that at their film screenings, they open up discussions with the public to encourage different perspectives. "Psychoanalysis doesn't happen only in the consultation room. That said, there are several misconceptions about the area, and these events help clarify those," says Ismail, who will helm the next discussion of Gautam Vaze's Marathi short film, Aai Shapat on June 6 at G5A, focusing on anxiety guilt. The free screenings are followed by a lecture on another day, for which there is a registration charge.

Catch up on all the latest Mumbai news, crime news, current affairs, and also a complete guide on Mumbai from food to things to do and events across the city here. Also download the new mid-day Android and iOS apps to get latest updates





act

Tax-News.com: Japan, Russia Agree New Double Tax Pact

The governments of Japan and Russia signed a new convention on the elimination of double taxation on September 7.




act

Please let me know the advantages of GST, sectors will get impacted,products become costly (VALLUKANNA)

I request you to kindly give me your advise on GST which is going to be implemented very shortly. Thanks and Regards, Varadarajan Kasturi..




act

Worst Week for Global Stock Markets: Coronavirus Impact in 10 Points

Posted by Equitymaster
      

With stock prices gyrating every day to coronavirus related developments, the weekend must come as a relief.

Here's a look at how deep the impact has been felt in the global financial markets:

  1. Stock markets worldwide saw sharp losses on Thursday, with the benchmark indices on Wall Street and London saw their steepest daily falls since the Black Monday in 1987.
  2. In the US, stocks witnessed a sharp sell-off on Thursday.
    • Thursday's dive follows the intense fall on Wall Street seen throughout the week. The S&P 500 triggered the first circuit breaker of the week on Monday after falling 7%. This fall came after the crash in crude oil prices.
    • The markets bounced back Tuesday, only to retreat on Wednesday after the World Health Organization (WHO) declared the coronavirus a pandemic.
    • At the closing bell, the Dow Jones Industrial Average finished down around 2,350 points (down 10%). The S&P 500 plunged 9.5%, while the Nasdaq Composite Index tumbled 9.4%.
    • Stocks were deep in the red the entire session, which was paused for 15 minutes early in the day. Automatic suspension was triggered after the S&P 500's losses hit 7%.
    • On Thursday, equities erased their losses briefly after the US Federal Reserve announced measures to inject an additional US$ 1.5 trillion in cash into financial markets. The announcement, which came after European markets had closed, sent shares higher, but they dropped back by the end of the day.
  3. Coming to the European markets now, the main UK index dropped more than 10% yesterday in its worst day crash since 1987. Losses on the UK's FTSE 100 wiped some 160.4 billion pounds in wealth from the market.
  4. Frankfurt had its worst day since 1989, the year the Berlin Wall fell, while Paris suffered its biggest one-day loss on record.
  5. However, European stock markets rallied this morning. The signs of a US stimulus package helped soothe fears about an economic shock. At the time of writing, European indices were trading mixed. Shares in London were up 4.1%, while the Paris CAC gained 3.5%. However, the Frankfurt DAX crashed 9.3%.
  6. Stocks in Asia also saw consistent sharp falls throughout the week. Japan's benchmark Nikkei 225 index closed 6.1% lower today.
  7. Shanghai was down around 1% as the number of new cases in China shrunk and people slowly returned to work in the worst-hit areas.
  8. In Asia, circuit breakers were also triggered in many exchanges including India, Japan, South Korea, Indonesia, Thailand, and the Philippines this week.
  9. Indian share markets saw their biggest ever single day fall this week. The indices today hit their lower circuit limits within 15 minutes of the opening session. This was seen the first time in 12 years that trading in Indian markets had to be halted. The carnage didn't continue, however, as Indian indices recovered after major free-fall as trading resumed after 45-minute halt.

    From there on, it was an upward rally as markets went on to witness buying interest and saw their biggest intraday recovery ever.
  10. On a year-to-date (YTD) basis, the worst fall has been witnessed by European markets. Here's a view on how the world markets have performed since January 2020.
  11. US Markets European Markets Asian Markets
    The Dow Nasdaq S&P 500 London Paris Germany Hang Seng Nikkei 225 Shanghai Sensex
    -27% -21% -24% -31% -33% -32% -16% -25% -6% -17%

    This worldwide crash has put March 2020 into the history books. Now, how markets perform in the coming days will be something to watch out.



    This article (Worst Week for Global Stock Markets: Coronavirus Impact in 10 Points) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.




act

Virender Sehwag reveals his batting inspiration is this Ramayan character

Former Indian opener Virender Sehwag has stated the real inspiration behind his swashbuckling batting technique was 'Angad' -- a character in mythological epic 'Ramayan'.

Sehwag, who was known for his great hand-eye coordination with minimal footwork, on Sunday shared a picture of 'Angad' on Twitter and said: "So here is where I took my batting inspiration from. Pair hilana mushkil hi nahi, namumkin hai. #Angad Ji Rocks."

According to mythology, it is believed that Angad -- who was part of vanar sena which helped Lord Ram in rescuing his wife Sita from Lanka -- was sent as an emissary to the court of Ravan in order to avoid war.

However, Ravan declined the offer and then to break his ego, Angad challenged that if anyone present in the court would be able to lift his feet from the ground then Lord Ram would accept defeat and leave Lanka.

But it is believed that none of the warriors present in Ravan's court was able to lift Angad's feet.

Sehwag, who played 251 ODIs and 104 Tests for India, scored 8,273 and 8,586 runs respectively. In fact, he is the only Indian cricketer to hit two triple centuries in Test cricket.

The swashbuckling opener also played 19 T20Is for India in which he amassed a total of 394 runs.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Matt Henry's contract with Kent cancelled due to coronavirus crisis

New Zealand pacer Matt Henry will not be playing for England's county Kent Cricket due to the ongoing COVID-19 pandemic and disruption to the 2020 county cricket season.

"Kent Cricket can confirm that New Zealand International Matt Henry will no longer be joining the Club for the first seven County Championship matches of 2020," the club said in a statement.

Henry was due to join Kent - for whom he starred in 2018 - for seven County Championship games at the start of the season, but with all professional cricket cancelled in the UK until May 28 at the earliest, it became clear that he would be unable to play for the club.

The Kiwi player becomes the fourth player - after Nathan Lyon, Cheteshwar Pujara and Michael Neser - to miss out on a stint in county cricket due to the virus.

Paul Downton, Kent's director of cricket, said: "Once the decision was announced by the ECB that there would be no cricket until at least the end of May it became inevitable the Matt would not be returning to Kent this season."

"The club continues to enjoy a good relationship with Matt. He has many friends here and the overwhelmingly positive feedback we received when we announced that he would return in 2020 is a measure of Matt himself: he's a fantastic person on and off the cricket field," he added.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

COVID-19 impact: No match fees for West Indies cricketers since January

West Indies cricketers haven't received their match fees since January as Cricket West Indies (CWI) seem to be struggling to generate funds amid coronavirus pandemic which has stalled the game.

According to a report published in ESPNcricinfo, international West Indies men players have not been paid their match fee for the Ireland series at home and the subsequent tour of Sri Lanka in February-March.

Meanwhile, international women players of the country are owed match fees for the four matches they played in the Women's T20 World Cup held in February-March.

"Cricket West Indies is facing a tough time financially," CWI chief executive officer Johnny Grave told ESPNcricinfo. "Whilst all of our contracted players have received their salaries and allowances, and some players have received prize money and match fees, there is still money that is outstanding and we are trying to settle these player payments as a priority."

"We are two months behind making match fee payments," he added.

West Indies players' association secretary Wayne Lewis revealed players have been receiving their allowance salaries but not their match fees.

"The players who are contracted, their monthly salary (and allowances) are up-to-date," Lewis said. "The problem we are having is the retained players in the regional first-class competition have not been paid their match fees for the eight rounds that have been played so far."

Former Pakistan captain Ramiz Raja has also pointed out that it will become increasingly difficult for cricket board across the world to continue giving salaries to players and staff if matches are not held in the near future.

"Cricket fans are starved now and the coronavirus pandemic has brought life to a standstill but I don't think cricket boards can survive for long like this. They can't continue to pay out salaries and expenses without having cricket activities it would be disastrous for them," Raja said in a video uploaded on his Youtube channel.

"I would also urge the Pakistan Cricket Board to think on these lines and hold talks with other boards to see how cricket activities can be resumed even behind closed doors."

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

COVID-19 impact: Australia's July UK tour unlikely, says David Warner

Veteran batsman David Warner believes Australia's upcoming limited-overs tour of England will be scrapped because of the coronavirus pandemic. The Australians were scheduled to play three one-dayers and three Twenty20 matches against England in July. But last week the England and Wales Cricket Board delayed the start of their season until July 1 at the earliest and players may need some warm-up cricket before returning to the international arena.

There has been speculation the tour could be delayed until September, but Warner was doubtful if it would go ahead. "At the moment it's highly unlikely we're going to go over there given what's happened in England," Warner told cricket.com.au. He said the fact British Prime Minister Boris Johnson had been hospitalised with COVID-19 showed the gravity of the problem in the host nation.

"He's back up on his feet now and that's fantastic news, but there's a lot more to this than just sport being played," Warner added. Australia have already cancelled a two-Test tour of Bangladesh in June, and a limited-overs home series against Zimbabwe is also in doubt. Australia are due to host the Twenty20 World Cup in October-November, for which the International Cricket Council has said it is "exploring all options".

Cricket Australia is particularly keen to go ahead with a Test series against India due to be played after the T20 tournament, warning this month it could lose hundreds of millions of dollars if it were scrapped.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Virender Sehwag condoles Irrfan Khan's demise: Great actor, great talent

Former Indian cricketer Virender Sehwag on Wednesday expressed grief over the demise of the ace Bollywood actor Irrfan Khan.

Taking to Twitter, Sehwag condoled the death of the 'great talent' and wrote, "A great actor and a great talent. Heartfelt condolences to his family and well-wishers #IrfanKhan."

Former Indian skipper Mohammed Azharuddin lauded Irffan's skills and termed him a 'versatile artist'.

"Saddened to hear about the shocking demise of #IrfanKhan. A truly talented & versatile artist and a great human being. May Allah grant him the highest place in Paradise. My heartfelt condolonces to the family & friends #RIPIrrfan," Azharuddin tweeted.

Khan passed away at Mumbai's Kokilaben Hospital on Wednesday while battling rare cancer. He was 53.

Khan was last seen on screen in 'Angrezi Medium'. He was not a part of the film's promotions owing to his ill health.

He was regarded as a fine actor by fans and critics alike with critically acclaimed films like 'The Lunchbox' and 'Paan Singh Tomar' to his credit.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Gautam Gambhir: Rohit has an edge over Kohli because of the impact he has

Former India opener Gautam Gambhir feels that Rohit Sharma has made of an impact in white ball cricket as compared to Virat Kohli despite the Indian skipper's staggering statistics in shorter formats. Gambhir however, believes that Kohli will end up scoring more runs than Rohit. "For me, white ball cricket is all about impact. Kohli will end up getting many more runs than Rohit, and Kohli is among the greatest right now but Rohit has an edge over Kohli because of the impact he has," Gambhir said on Sports Tak, according to the India Today website.

Record-breaking stuff
"I think Rohit is the best white ball cricketer in the world right now. He is not the greatest overall but at the moment he is the best. He is the only player to have hit three ODI double hundreds, five World Cup hundreds [in one edition] and he is also the only player, who if he gets past the 100-run mark, makes people feel that he missed a double century [if he gets out]." Comparing Kohli and Rohit further, the 2011 World Cup winner said, "It is very difficult to compare them. Virat is unbelievable. His stats prove that. But when your reputation is such that when you get out after a hundred, people say he has missed out on a double hundred, that speaks volumes about you."


Virat Kohli. Pics/AFP

Rohit, 33, has 9115 runs from 224 ODIs at an average of 49.27 at a strike rate of 88.92. He has 29 hundreds and 43 fifties. In T20Is, Rohit has 2273 runs from 108 matches at an average of 32.62 and a strike rate of 138.78. Kohli, 31, meanwhile, has 11,867 runs from 248 ODIs at 59.33 and a strike rate of 93.25. He has scored 43 centuries and 58 half centuries. Kohli has 2794 runs from 82 T20Is at an average of 50.80 and a strike rate of 138.24.Gambhir felt that former India captain Mahendra Singh Dhoni had a key role to play in supporting Rohit and now it was time for Kohli and Rohit should groom youngsters in the current Indiah team in the same way.

'Groom youngsters now'
"Rohit is the prime example of how a player's fortunes can turn around if he is nurtured by the seniors. I hope the young cricketers in the current generation, be it Shubman Gill or Sanju Samson, they also get the similar kind of support. And now when Rohit is a senior, I expect him to back youngsters."


Gautam Gambhir

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Australia to start pre-season activity by May end

Cricket Australia is set to begin the team's pre-season later this month under a set of new training protocols devised for the safety of players amid the COVID-19 pandemic. According to a report in 'The Sydney Morning Herald', CA is churning out strategies for the resumption of training under the watchful eyes of its chief medical officer Dr John Orchard and head of sports science and sports medicine Alex Kountouris.

The duo is working closely with counterparts of other cricket playing nations and are part of committees of the Australian government and the ICC which are trying to find ways for the resumption of sports. The report said CA's immediate priority is to draw up protocols for players' pre-season, which include barring the use of saliva or sweat to shine the ball during training.

"There's physical distancing in the nets—there are two or three bowlers in each net. One bowls at a time, the batter is 22 yards away so it's not a big problem," Kountouris said.

"We don't see it as too big a problem to manage, but these are the things we're spelling out. This is what you should do: keep your distance."

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Spain prepares to reopen some factories

The death toll from the Coronavirus pandemic has slowed in some of the worst-hit countries, with Spain readying Monday to reopen parts of its economy as governments grapple with a once-in-a-century recession.

Italy, France and the US have all seen a drop in COVID-19 deaths in the past 24 hours, with Italy — the European nation most afflicted — reporting its lowest toll in more than three weeks.

Spain's death toll has fallen in recent days, but as a small bump in deaths was reported on Sunday, Prime Minister Pedro Sanchez warned that the locked-down country was "far from victory".

"We are all keen to go back out on the streets... but our desire is even greater to win the war and prevent a relapse," he said, as some companies were set to resume operations at the end of a two-weeks halt of all non-essential activity.

In the US — now the world's worst-hit nation with a fifth of all deaths and more than half a million confirmed cases — the government's top infectious disease expert added to cautious optimism that the pandemic may have reached its peak.

Anthony Fauci said, "We are hoping by the end of the month we can look around and say, OK, is there any element here that we can safely and cautiously start pulling back on?"

1,16,045
Total no. of deaths worldwide

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




act

Tax-News.com: Switzerland, Netherlands Amend Double Tax Pact

Switzerland and the Netherlands have signed a protocol to their double tax agreement that will bring it into line with international standards.




act

Tax-News.com: Turkey Props Up Airlines Impacted By COVID-19 With VAT Relief

On March 23, 2020, the Turkish Government published a resolution in the official gazette to temporarily reduce the rate of VAT on air passenger transport to one percent.