Bahubali 2: The Conclusion touches $100 million mark; now how much higher can it go? FIRST POST MAY 4 2017

If you've been following the progress of the box office juggernaut that is Baahubali 2: The Conclusion (also spelt as Bahubali 2), then you'll know that within just five days at the theatres, its collections amount to a neat Rs 600 crore.

In reaching this figure, Bahubali 2 has already broken several records for Indian films, and also set some new ones.As pre-release hype had mounted around part two of SS Rajamouli's magnum opus, it was estimated that The Conclusion would touch Rs 1,000 crore in box office collections — or 10 billion.And as Bahubali 2 rakes in the moolah, the 10 billion mark seems very much within reach.

at roughly $100 million.

Bahubali 2 released across nearly 9,000 screens in India and the world on Friday, 28 April 2017. In some places, it had early previews on Thursday as well.

The film had already registered record advance bookings (tickets in core markets like Hyderabad were sold out till Tuesday, 2 May, as soon as bookings opened) and leading online portal Book My Show had reported 3.3 million ticket sales — 12 tickets every second — over Friday.

The ticket sales were bolstered by the occupancy rates — 90-95 percent at theatres in non-core territories and houseful shows in the target areas of Andhra, Telangana, and sections of Tamil Nadu, Karnataka and Kerala.

And on Saturday, 29 April, after a frenetic round of tallying, it was revealed that Bahubali 2 had made more than Rs 100 crore on its opening day alone.

By doing so, it left films like Dangal (opening collection of approximately Rs 29 crore) and Sultan (Rs 36+ crore collections on day one) far behind. To put things in perspective, just the Hindi dubbed version (Telugu, Tamil and Malayalam are the other versions in theatres) of Bahubali 2 has earned Rs 37 crore (although some reports have pegged this number at Rs 41 crore). This would put it on par with Salman Khan's Prem Ratan Dhan Paayo (Rs 40 crore) but still a little below Shah Rukh Khan's Happy New Year (Rs 44+ crore on opening day).

In terms of overall collections, Bahubali 2 has already left the lifetime collections of its own predecessor in the dust — Baahubali: The Beginning had earned Rs 6.5 billion. As mentioned at the start of this report, Baahubali 2 has made that amount (Rs 6 billion) in its first week at the box office. Unofficial figures are now pitching that total closer to Rs 700 crore.

At present, Bahubali 2 is the Indian film with the third-highest box office collections. PK stands at the top spot with Rs 792 crore, while Dangal is on the number two position with Rs 730 crores. Baahubali: The Beginning is on the fourth spot.  Bajrangi Bhaijaan, Dhoom 3, Sultan, Prem Ratan Dhan Paayo, Chennai Express and 3 Idiotsround off the top-10 slots.

Even as it makes waves in India, Bahubali 2's overseas collections too have been noteworthy.

Over its opening weekend, the film trumped the business of Tom Hanks-Emma Watson starrer The Circle. It was among the top-three earners at the US box office, with Fate of the Furious ($19,389,780) the highest earner, followed by How To Be A Latin Lover ($12,018,500) at number two. Bahubali 2's weekend collections in the US stood at $10,138,189.In US dollars, Bahubali 2's earnings (using the unofficial estimate of Rs 7 billion) roughly translate to $100 million.Where does that put Rajamouli's epic in global terms?

Avatar (2009) — widely reported as the highest earning film (in Hollywood, and the world) — has box office collections totaling over USD 2 billion (or more precisely, $2,787,965,087). Titanic (1999) and Star Wars: The Force Awakens (2015) round off the two-billion USD club. Harry Potter and the Chamber of Secrets, Ice Age: Continental Drift and The Secret Life of Pets finish the list of top-50 earning films in the word — all with collections in the vicinity of $800 million. This is without adjusting for inflation [click here to check out an inflation-adjusted list].

As of May 2016, around 330 Hollywood films had made more than $100 million in box office collections (this number is likely to have risen by quite a bit over the past year). Snow White and the Seven Dwarves and Gone With The Wind — both from the early 1930s, are the oldest films on that list.

Looking outside of Hollywood, at the British box office, Star Wars: The Force Awakens is the highest-earning film £123 million (little over $150 million) and Skyfall is the second-highest — it clocks in at £103 million (around $132 million).

The Chinese film industry — the biggest in the world after Hollywood — has as its highest earner, a film called The Mermaid, which has taken in over 3.3 billion yuan (a little over $430 million) at the box office.

Japan's top-earning film is Spirited Away (at ¥30 billion in collections, that amounts to a little over $267 million); while South Korea's top-grossing film is Admiral: The Roaring Currents (135 billion South Korean won, that converts to $120 million).

Will Bahubali 2 manage to break into this elite club? As the film kicks off its second week in the theatres, it'll certainly be setting new records before the juggernaut slows down just yet.

FIRST POST Published Date: May 03, 2017 12:05 pm | Updated Date: May 03, 2017 02:19 pm

TOP 15 INDIAN MUTUAL FUNDS -5 ***** STARS RATING BY VRO

How smart Indian Slum millionaires send taxmen on a wild goose chase _Read this article

By Sukirti Dwivedi , Ahmedabad Mirror | Updated: May 03, 2017, 06.50 PM IST 

Some of the largest cash deposits in banks during demonetisation were made by ‘slum dwellers’. This came out during the field surveys done by the officers of Income Tax department post demonetisation. In one case, when I-T officers went to verify the registered address of two brothers who had together deposited Rs 9 crore cash in their bank accounts, they were surprised to learn that the assessees lived in a humble house constructed under Garib Awas Yojana. 

And that too amid a slum. The house was found locked and even the neighbours were unable to give any leads about the occupants’ whereabouts. The Gujarat Income Tax Department had sent out about 5,000 notices in Ahmedabad to those who made large cash deposits in banks during demonetisation. All these individuals had deposited cash much beyond their declared source of income as reflected in their I-T returns. Almost 30% of them, or 1,500 individuals, did not reply. When I-T officers were sent to check their addresses, many of the houses were found locked and located amid slums. There are 21 ranges of I-T in Ahmedabad which are headed by 7 Commissioners of Income Tax, three under each. Each of these ranges had sent average 250 notices related to large cash deposits. 

Slum dwelling brothers deposit Rs 9 crore 

Post demonetisation, a team of local tax officers was constituted to enquire into the whereabouts of some of the big cash depositors who had not responded to the notices. According to a highly placed source, “When the officers reached the residence of a pair of brothers in Narol, one of whom had deposited Rs 5 crore and the other Rs 4 crore in his bank account, they found that the brothers lived in a house constructed under the Garib Awas Yojana right in the middle of a slum. Their house was locked and the brothers had fled their home four days ago.” “In another case, a man who had deposited Rs 15 crore had fled his home in Vatva. He too lived in a small house and it didn’t seem that the man could have earned that huge an amount,” the source added. 

How black money was converted into white 

I-T department sources said in all cases where the amount deposited ran into crores, multiple layers of RTGS (Real Time Gross Settlement) transactions were created. The total amount was divided into smaller sums which were then transferred to numerous accounts from the main account, creating a long chain of transactions. “We will ultimately get hold of them but it’s a long drawn process,” said the officer. 

Wrongdoers will be caught in the end 

Sanjay Shah, Chartered Accountant, said, “I-T will first try all its sources to track the person with the help of available resources and by investigating the trail of transactions. It will then send multiple notices and summons. If all these fail then it may use the ‘Best Judgement Assessment (when I-T officer is not satisfied with accounts submitted by assessee)’ under I-T Act to levy ahigher tax rate (unexplained sources of income)  .. 

Read more at:
http://economictimes.indiatimes.com/articleshow/58498412.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

CBI nabs Mumbai Income Tax commissioner, Essar MD Pradip Mittal in bribery case

By IANS | May 03, 2017, 06.20 PM IST 

MUMBAI: In a major swoop, the CBI on Wednesday nabbed an Income Tax Commissioner, a top official of Essar Group, and four others in a bribery case, and recovered Rs 1.50 crore, officials said here. 

The arrested IT officer is B. B. Rajendra Prasad, an IRS officer of 1992 batch who is currently IT Commissioner (Appeals - 30) in Mumbai. 

The others nabbed include: Pradip Mittal, Managing Director of Essar Group of Companies, and Vipin Bajpai, an accounts officer in that company headquartered in Mumbai. 

Three others, a Chartered Accountant Shreyas Parikh working with M/s. G.K.Choksi, and a realtor Suresh Kumar Jain and his relative Manish Jain have also been arrested. 

The CBI said that Prasad had recently passed an order in an appeal matter favouring a private trust belonging to the Essar Group. 

For passing the favourable order, the Prasad allegedly demanded a bribe of around Rs 2 crore and said it should be delivered to Manish Jain, who in turn would transfer it to Suresh Kumar Jain in Visakhapatnam. 

The Income Tax Commissioner took leave and went to Visakhapatnam and demanded that a part of the money should be delivered to his residence in Visakhapatnam. 

Acting on a tip-off, the CBI laid a trap and caught Prasad receiving a part of the bribe amount - Rs 19.34 lakh - from Suresh Kumar Jain. 

Both were arrested. The CBI said it had recovered the remaining amount of around Rs 1.50 crore from Suresh Kumar Jain. 

The CBI sleuths conducted raids in Mumbai and Visakhapatnam at the offices and residences of all the accused leading to recovery of several property investment documents, details of bank accounts, three bank lockers and other incriminating papers. 

The accused will be produced before a designated court later, officials said. 

Read more at:
http://economictimes.indiatimes.com/articleshow/58491498.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

What do North Korean military personnel write in their notebooks when near Kim Jong Un?

Carter Moore, Scatterbrained | Top Writer 2015/16/17

Written Jun 23, 2015

Not that I necessarily disagree with the other answers on here so far - that is, people write down whatever he says because of a deeply instilled fear that to do otherwise would make them appear disloyal - however, the larger reason why this practice exists goes back to Kim Jong Un's grandfather, Kim Il-sung. It's called "On the Spot Guidance."

Feifei Wang, The Interpreter

Updated Jan 15, 2016 · Upvoted by Joel Postma, In the Navy twice. First as an Avionics Technician. The second time as a Seabee. and Kah Seng Tay, 1st Lieutenant, Combat Engineers

They're most likely making notes, which will later be transcribed to their diaries, and then be submitted to the party officials for review.

I'm from China, while we're very different from NK, there're still some "communism" legacy traditions no one bother to change. One thing that's very common in school is that students are required to write diaries and submit them to their teacher for review. It is a hateful "communism" legacy tradition came from the entire "thought management" (when the party still prosecute "thought crimes"). How do you regulate people's thought? You require them to write daily confessions. So when I was forced to write diaries, about 50% of my diaries were "apology letters" for something I did wrong that day. If some officials were visiting our school and we sit through some boring meetings, we are required to write about the leaders' speeches and how it inspired us. While during such meetings, the teacher will require the kids to make notes so that they can appear being attentive to the speaking leader, and have something to write about when they get home.

There's a reason I despise writing diaries and refuse to do it after I got out of elementary school (middle schools usually don't require you to write mandatory diaries because by the time of middle school, the education is much more exam orientated, and diary writing is perceived as a less useful writing exercise).

I imagine NK would be the same and like 1000 times worse. I imagine a lot of people probably truly want to record whatever the fat kid is saying and take them as Gospel. I'm just glad China had grow out of it.

Or you write what he says in your little notebook like your life depends on it:

Last 10 years’ data shows May belongs to bulls; will it be different in 2017?The S&P BSE Sensex and Nifty, which closed above its crucial resistance level of 9,300 last week, should be able to hit fresh highs in the month of May, claim experts.

Kshitij Anand

Moneycontrol News

If you thought that the market has hit a ceiling then think again. Data for last 10 years shows that bulls remain in a dominant position in six out of 10 years.

The S&P BSE Sensex, which reclaimed mount 30K and Nifty which closed above its crucial resistance level of 9,300 last week should be able to hit fresh highs in the month of May, claim experts.

Investors who have gone long in the index should continue with their positions with a target of 9,500 in the short term and a strict stop loss placed around its gap zone of 9,250-9,225 levels.“The month of May is typically a continuation month as the prevailing trend normally continues. In India, we have historically seen the markets either topping out of bottoming out between November and February,” Deepak Jasani, Head - Retail Research, HDFC Securities told moneycontrol.

“We don't think May will be a topping out month this year for India. If at all we may see some consolidation for a few months followed by the next leg up,” he said.

On the weekly scale, Nifty gave a consolidation breakout above 9,273 and registered a fresh high of 9,367 which is a bullish sign. For the momentum to continue, Nifty should be able to hold above 9,300 on a closing basis.

Last 10 years’ history shows us that Nifty has given a minimum return of 3 percent and a maximum of 21 percent while on the downside it has slipped 3 percent and maximum a little over 6 percent.While it is unlikely for the market to repeat a performance of 2009 when indices rose nearly 21 percent after a strong rally seen so far in the year 2017, but a minimum 3 percent return could be expected. A 3 percent return from current levels could well take the index towards 9,500, similar to what technical chartist are projecting but fundamental experts see some bit of consolidation after a sharp run-up in prices.

But, as you know, markets are unpredictable.“I believe, while a correction scenario can't be denied, but a sharp correction is unlikely, rather a consolidation phase seems more possible. The late catch up by FIIs has boosted the rally and I believe it is still not out of steam,” Prakarsh Gagdani, CEO, 5Paisa.com, (an IIFL subsidiary) told moneycontrol.

“The strength of large caps recently will likely provide key support to the indices, even as pocket wise corrections may begin. Having said that, I must advise retail investors to be extremely cautious at this stage and don't go overboard with the euphoria,” he said.

Even though fundamentals of the Indian market look strong but if US market takes a hit after a sharp run-up in prices then things could take turn for the worse for markets across the globe, and not just for India.

The trigger for a correction in US markets could be geopolitical tensions, high valuations or maybe even quarterly numbers.

“An external trigger impacting Indian market is possible in the near future, perhaps even as early as May. There is a likelihood of a correction in the US markets since all expected news has come,” Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services told moneycontrol.

“So, ‘buy on rumours sell on news’ theme may play out. A correction in the mother market can impact all other markets. Since valuations are on the high side any trigger can impact the markets,” he said.

CHINA MAY CAPTURE PAKISTAN AND SRI LANKA WITHIN 5 TO TEN YEARS FROM NOW IN THE NAME OF DEVELOPMENT WHICH IS GOING TO HELP CHINA ONLY.READ THIS ARTICLE

China may put South Asia on road to debt trap

BY DIPANJAN ROY CHAUDHURY, ET BUREAU | MAY 02, 2017, 10.43 AM IST

NEW DELHI: China’s grandiose global connectivity initiative -- One Belt One Road (OBOR) or Belt& Road Initiative (linking China with Europe via SE Asia & C Asia through land & sea links) -- which is set to receive a formal endorsement at the May 14-15 international meet (OBOR MEET) has the potential of adverse economic implications for countries in South Asia as reflected by the situation in Sri Lankan that has run into a huge debt trap by welcoming Chinese-funded projects. 

While the Lankan PM is expected to attend OBOR among 28 other leaders from across the continents, Colombo is running up huge financial losses owing to high interest rates charged by Chinese lenders for the mega infrastructure projects which will now be part of OBOR. Pakistan is no better either as the huge sum of over $50 billion for China-Pakistan-Economic-Corridor can spell doom for an already faltering Pakistani economy. 

Debts are turning into equity and finally ownership for Chinese firms that will not only adversely impact Sri Lankan and Pakistani economies but also create security implications for India due to China’s constant presence in the periphery. This has major lessons for Bangladesh and Nepal where China has assured to invest billions. While Bangladesh is skipping the OBOR meet, Nepal has downgraded its participation at the meet from the level of President to Deputy PM. 

Sri Lanka’s growing economic engagement with China has generated concern among scholars and policymakers. China has provided Sri Lanka with over $5 billion between 1971 and 2012, and most of this has gone into infrastructure development, with China investing $1 billion into a deep-water port at Hambantota and billions into the Mattala Airport, a new railway and the Colombo Port City Project. 

As a country emerging from civil war, infrastructure is crucial in facilitating Sri Lanka’s trade and foreign investment sectors. The World Bank forecasts that Sri Lanka’s GDP is likely to grow from 3.9% in 2016 to around 5% in 2017. 

Sri Lanka has borrowed billions of dollars from China to build domestic infrastructure. Sri Lanka’s estimated national debt is $64.9 billion, of which $8 billion is owed to China -- this can be attributed to the high interest rate on Chinese loans. For the Hambantota port project, Sri Lanka borrowed $301 million from China with an interest rate of 6.3%, while the interest rates on soft loans from the World Bank and the Asian Development Bank (ADB) are only 0.25–3%. Interest rates of India’s Line of Credit to the neighbouring countries are as low as 1%, or even less, in some cases. Sri Lanka is facing debt crisis or ‘debt trap’ as some scholars describe it.

Sri Lanka is currently unable to pay off its debt to China because of its slow economic growth. To resolve its debt crisis, the Sri Lankan government has agreed to convert its debt into equity. This may lead to Chinese ownership of the projects finally. 

The Lankan decision allowing Chinese firms 80% of the total share and a 99-year lease of Hambantota port caused public outrage and violent protests in Sri Lanka. In addition, Chinese firms have been given operating and managing control of Mattala Airport, built with Chinese loans of $300-400 million, because the Sri Lankan government is unable to bear the annual expenses of $100-200 million. Experts here told ET that such arm twisting of democratic regimes in Lanka to get projects runs contrary to the Chinese position against regime changes in other parts of the world. 

Having access to the Hambantota port and Mattala airport provides Beijing with a strategic military position in the event of an Indian Ocean conflict and is also key for its ‘Belt and Road’ initiative. The growing Chinese influence may also compel Sri Lanka to support China’s position on the South China Sea dispute and ‘One China’ policy. 

Pakistan is heading towards a similar crisis if not worse, according to experts who study China-Pakistan-Economic-Corridor closely. China’s masterstroke in inducing Pakistan into mortgaging Pakistan’s present and future economic prosperity has been achieved by Chinese President Xi Jinping’s announcement in 2015 of the much flaunted $46 billion China Pakistan Economic Corridor (CPEC). The Chinese promise for CPECBSE -4.45 % has now crossed $50 bn and this may turn Pakistan into a client state of Beijing in the real sense of the term, according to a formal official who has served in China and India’s neighbourhood in the past. 

Projected by China as a Chinese master blueprint for economic transformation of Pakistan, it is a merely a strategic Chinese blueprint for China’s colonial control of Pakistan in perpetuity, strategically and economically. Pakistan is being made to take heavy loans from the Chinese banks at high rates of interest to finance the CPEC, and some experts said that Pakistan would take nearly 40 years to pay back these loans. Key voices within Pakistan have been publicly questioning the CPEC’s economic benefits to Pakistan, pointing out that the virtual and real economic benefits accrue only to China. 

Read more at:
http://economictimes.indiatimes.com/articleshow/58467309.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

The Indian runner who made history in Boston-in the visually impaired category

May 02, 2017 12:04 IST rediffmail.com

'I ran with the Indian flag throughout and, believe me, it is a fantastic feeling.'

Last month, runners from all over the world strained every sinew while running the Boston Marathon.

Among the 30,000 participants was India's Sagar Baheti, who achieved the rare distinction of completing the 42.2 km course in the visually impaired category.

Why the Boston marathon is a big deal

The Boston Marathon is America's oldest and iconic race.
The success of the first Olympic Marathon in 1896 inspired the first Boston race in 1897.
Boston is also unique because it is a qualified race. A Boston Marathon shirt means runners have run fast.

Sagar, 31, who made the cut via qualification, crossed the line in 4 hours, 14 minutes, 7 seconds.

In the process, Sagar became the first visually impaired Indian to compete and finish the 121st edition of the world's oldest marathon.

The Bengaluru lad began running the gruelling distance five years ago after being diagnosed with Stargardt disease.

It was while playing cricket that he noticed something was wrong with his vision. He had problems catching the ball.

After consulting several experts, it was concluded that he couldn't identify objects beyond a metre.

What is Stargardt disease?

Stargardt disease is the most common form of inherited juvenile macular degeneration.
The progressive vision loss associated with Stargardt disease is caused by the death of photoreceptor cells in the central portion of the retina called the macula.
Decreased central vision is a hallmark of Stargardt disease. Side vision is usually preserved.

Not one to let vision issues or anything else stand in the way of his ambition, Sagar goes about his life with a steely determination.