Licensing opens for cinema in Saudi Arabia

Agencies
March 2, 2018

Riyadh, Mar 2: Saudi Arabia began issuing licenses Thursday to operate cinemas in the kingdom ahead of their reopening after a decades-long ban was lifted as part of a far-reaching liberalization drive.

The move is another step toward opening the Saudi market to regional and international theater chains, which have long eyed the kingdom as the Middle East’s last untapped mass market.

The culture and information ministry said it had “finalized the terms of licencing to restore cinema in Saudi Arabia.”

“Licencing commences immediately,” the ministry added in a statement.

The news comes as Dubai-based VOX Cinemas, the leading operator in the Middle East, launches its first public screening in Saudi Arabia, which runs through Saturday and aims to raise awareness about Alzheimer’s disease.

The screening in Riyadh will feature content from local producers including Myrkott Production and Telfaz Company, VOX said.

Major cinema chains are seeking to break into the market of more than 30 million people, the majority of whom are under 25.

In December, US giant AMC Entertainment signed a non-binding agreement with Saudi Arabia’s vast Public Investment Fund to build and operate cinemas across the kingdom.

AMC will still face stiff competition from regional heavyweights, including VOX.

The move to reopen cinemas is part of a modernization drive by Crown Prince Mohammed bin Salman.

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News Network
June 11,2020

Washington, Jun 11: Music maestro AR Rahman has joined the international film 'No Land's Man' as co-producer and composer.

Helmed by renowned Bangladeshi filmmaker Mostofa Sarwar Farooki, the upcoming movie has Indian thespian Nawazuddin Siddiqui, Australian theatre actor Megan Mitchell, and Bangladeshi musician and actor Tahsan Rahman Khan in pivotal roles.

"Time always gives birth to new worlds, new ideals. The newborn world has new challenges and new stories to tell. This is one such story," Variety quoted Rahman as saying.

The movie chronicles the life of a South Asian, whose journey gets complicated when he meets an Australian woman in the U.S.

The film, shot in the U.S., Australia and India, is predominantly in English with some dialogue in Hindi and Urdu.

'Sacred Games' actor, Siddique said: "The filming experience for this project was challenging but a fulfilling one. AR Rahman's brilliance will definitely make the film richer."

"Farooki and I first spoke about 'No Land's Man' at Film Bazaar in 2014. Between then and now, the film has become even more relevant as it looks at what it means to be a vulnerable person in a racially-divided world," producer Srihari Sathe said.

'No Land's Man' won the MPAA (Motion Picture Association of America) and Asia Pacific Screen Awards' Script Development fund in 2014. It was part of the Asian Project Market at Busan and was chosen as the best project at India's Film Bazaar the same year.

Earlier in January, Siddiqui posted multiple pictures on Instagram with the team of the flick, marking the schedule wrap in New York and Sydney for 'No Land's Man.'

He also captioned the post as: "Wonderful experience with the most energetic team."

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News Network
March 13,2020

Mumbai, Mar 13:  Investor wealth worth nearly Rs 12 lakh crore was wiped out in less than 15 minutes of trading on the stock exchanges on Friday, with the two benchmarks, the BSE Sensex and the NSE Nifty, crashing over 10 per cent.

The 30-share BSE Sensex plummeted 3,380.59 points, or 10.31 per cent, to 29,397.55. It hit an intra-day low of 29,388.97, falling up to 3,389.17 points.

Trading was halted for 45 minutes in the early session after the index hit its lower circuit limit.

The BSE and NSE benchmark indices, however, pared most losses with the Sensex trading 835.40 points, or 2.55 per cent, lower at 31,942.74, and the Nifty was down 253.25 points or 2.64 per cent at 9,336.90 at 10.40 am.

The mayhem on Dalal Street eroded investor wealth worth Rs 12,92,479.88 crore, taking the total m-cap to Rs 1,12,78,172.75 crore on the BSE at 1020 hours.

The m-cap of BSE-listed companies stood at Rs 1,25,70,652.63 crore at the end of trading on Thursday.

Traders said besides global selloff, incessant foreign fund outflows also weighed on investor sentiments.

On a net basis, foreign institutional investors sold equities worth Rs 3,475.29 crore on Thursday, data available with stock exchanges showed.

On the BSE, 1,279 scrips declined, while 193 advanced and 40 remained unchanged.

Volatility heightened in global markets as benchmarks world over went into panic mode, insinuating a freakish selloff.

Bourses in Shanghai dropped over 3.32 per cent, Hong Kong 5.61 per cent, Seoul 7.58 per cent and Tokyo cracked up to 7.97 per cent.

Wall Street lost 10 per cent in overnight trade.

More than 1,30,000 cases of the novel coronavirus have been recorded in 116 countries and territories, killing at least 4,900 people.

The number of coronavirus patients in India has risen to 74, as per the health ministry.

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News Network
June 24,2020

New Delhi, Jun 24: Actor Bhumi Pednekar supported migrant labourers traveling long distances amid the coronavirus pandemic, in a rather unique way- by donating footwear to them.

The gut-wrenching images of migrants walking barefoot on the roads made the 'Pati Patni Aur Woh' actor take the plunge to help them.

Pednekar joined hands with a footwear company and a volunteer-based non-government organisation - The Robin Hood Army - to help the underprivileged with footwear.

The actor helped over 1000 migrant labourers in and around Ghaziabad in Murad Nagar, Govindpuram, Vijay Nagar, and distributed footwear among men and women across age-groups.

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