The Walt Disney Company Set For A Rocking 2014

The Walt Disney Company announced that it will select ten startup companies for a three month mentorship and seed stage investment program. Disney Accelerator, which will be based in Los Angeles and powered by Techstars, is now accepting applications from early-stage companies with innovative consumer media and entertainment product ideas.

Participants will receive $120,000 in investment capital to develop their ideas, along with mentor support from top Disney executives, including Chairman And CEO Robert A. Iger, and leaders from Pixar, Marvel, Lucasfilm, ABC, ESPN and Walt Disney Imagineering, among others.

Mentors will also include other entertainment industry leaders, venture capitalists, and Techstars’ extensive network of entrepreneurs, investors and executives. Participants will have access to stories, characters, technology and other resources from across The Walt Disney Company. The program begins June 30, and it concludes with an Investor Demo Day in September where each team will present their company to industry leaders and investors.

“Disney has always been defined by innovation, leveraging the technology required to build the future of entertainment,” said Kevin A. Mayer, Executive Vice President, Corporate Strategy And Business Development, The Walt Disney Company.

“Disney Accelerator offers a unique collaboration between some of the best creative minds in the entertainment industry and the modern-day visionaries who are starting businesses on the strength of exciting new ideas.” Overseeing the Disney Accelerator program is Michael D. Abrams, Disney’s Senior Vice President, Innovation.

Coming to its revenues, The Walt Disney Company reported revenues of $12 billion, up 9% from last year, and net income of $1.8 billion, up 33% over first quarter 2013. Much of that growth was driven by franchises like The Avengers, Doc McStuffins and the company’s newest franchise,Frozen.

If Frozen doesn’t strike you as a franchise movie, you’re not alone. The film didn’t exactly leave a lot of room for a sequel at the end. But for Disney, the word franchise means much more than just sequel potential. The film has already spawned a successful sing-a-long version, which is helping to keep the film in the top five at the Box Office.

Toys from the movie are selling like hot cakes at Disney Stores which have been reoriented around franchises and the characters are helping draw crowds at Disney’s theme parks. While the movie might not spawn a sequel, Disney’s most creative employees are likely thinking about television show potentials and there’s little doubt that a Broadway version of the show is in the works.

The company is busy re-launching one of the biggest franchises of all time: Star Wars. The management expects to profit from new Star Wars not just at the Box Office but also on television, in publishing and at theme parks.

Here wishing everyone at The Walt Disney Company all the very best.

Zee TV Appoints Maria Liza Ginting As Indonesia Country Head

Zee TV has added another feather in their cap by announcing its entry into the Indonesia Market. New offices have opened in Jakarta and Maria Liza Ginting has been appointed as Indonesia Country Head.

The company also announced the launch of Zee Bioskop Channel that focuses on Bollywood Blockbuster Movies. Zee Bioskop will showcase movies starring India’s most popular stars likeShah Rukh Khan, Salman Khan, Amitabh Bachchan, Kareena Kapoor, Deepika Padukone,Katrina Kaif, etc., all dubbed in Bahasa Indonesia.

Apart from the movies, the channel will have programming line-up such as Gelitik Senin, Selasa Tak Gentar, Kencan Bintang, Legendaris, Sinema Rasa Sayang, Sinema Perdana Jumatand Akhir Pekan.

Subhash Chandra, Chairman, Zee Entertainment Enterprises Ltd. (ZEEL) said, “Indonesia and India share a lot of similarities when it comes to culture, values and entertainment appetite, in addition to being maritime neighbours. Indonesia is economically one of the fastest growing markets with huge potential for Pay TV growth. I am confident these launches will flag off a new beginning for our venture and relationship between the two countries.”

“During the focused group research, we were amazed to see the massive response for our Bollywood content. ZEEL holds the largest Bollywood library, which will aid Zee Bioskop in setting new records in the viewership trend. Indonesia is definitely a key market for our APAC expansion plan and opening of Indonesia office is a first step towards that direction,” shares Sushruta Samanta, Business Head – Asia Pacific, Zee Entertainment Enterprises Ltd. (ZEEL).

“I am very proud to be a part of this prestigious Group and being instrumental in bringing this much-awaited entertainment channel of international standard, specifically customized for local audience. The initial response from our distribution partners has been very positive and I am sure the channel will live up to its tagline – Bollywood Banget that means Truly Bollywood,” statedMaria Liza Ginting, Country Head, Zee Entertainment Enterprises Ltd. (ZEEL).

Constitution of Pakistan is not un-Islamic: Professor Ibrahim

ISLAMABAD- Member of the Taliban nominated committee, Professor Ibrahim said that the constitution of Pakistan was not un-Islamic and religious scholars had endorsed and signed it.

Talking to journalists, Professor Ibrahim said that Islamic scholars had drafted, developed and signed the constitution.

He said that the implementation of the real constitution was the only way to resolve lingering issue of the country, and that Taliban would also accept this constitution once it is implemented.

He further said that if the constitution is implemented in its true spirit then Islamic system would be established in the country.

Earlier, Tehreek-e-Taliban Pakistan (TTP) spokesman Shahidullah Shahid during a news conference held in North Waziristan said that there was not a single Islamic clause in Pakistan’s constitution

BAFTA Awards 2014 Announced

The British Academy Film Awards are hosted anually by the British Academy Of Film And Television Arts (BAFTA). Stephen Fry hosted the star-studded British Academy Film Awards 2014 at London’s Royal Opera House.

Leonardo DiCaprio, Brad Pitt, Angelina Jolie, Bradley Cooper and many others attendedThe BAFTA Awards 2014 gala night. 

Gravity was the big winner on the night, picking up six gongs, including Best Director, Best Original Music, Best Cinematography and Best British Film.

12 Years A Slave was judged the Best Film and Chiwetel Ejiofor took the Best Actor Award, whileCate Blanchett received The Best Actress Award for her role in Blue Jasmine. Cate dedicated the award to the Late Philip Seymour Hoffman.

Here’s The Complete Winner List Of The BAFTA Awards 2014:

Best Film: 12 Years A Slave

Outstanding British Film: Gravity

Outstanding Debut By A British Writer, Director Or Producer: Kieran Evans – Kelly + Victor

Film Not In The English Language: The Great Beauty

Documentary: The Act Of Killing

Animated Film: Frozen

Original Screenplay: Eric Warren Singer, David O Russell For American Hustle

Adapted Screenplay: Steve Coogan, Jeff Pope For Philomena

Director: Alfonso Cuaron For Gravity

Leading Actress: Cate Blanchett For Blue Jasmine

Leading Actor: Chiwetel Ejiofor For 12 Years A Slave

Supporting Actress: Jennifer Lawrence For American Hustle

Supporting Actor: Barkhad Abdi For Captain Phillips

Original Music: Steven Price For Gravity

Cinematography: Emmanuel Lubezki For Gravity

Editing: Dan Hanley, Mike Hill For Rush

Production Design: Catherine Martin, Beverley Dunn For The Great Gatsby

Costume Design: Catherine Martin For The Great Gatsby

Make Up And Hair: Evelyne Noraz, Lori McCoy-Bell For American Hustle

Sound: Glenn Freemantle, Skip Lievsay, Christopher Benstead, Niv Adiri, Chris Munro For Gravity

Special Visual Effects: Tim Webber, Chris Lawrence, David Shirk, Neil Corbould, Nikki Penny For Gravity

British Short Animation: Sleeping With The Fishes

British Short Film: Room 8

EE Rising Star Award: Will Poulter

Outstanding Contribution To British Cinema: Peter Greenaway

BAFTA Fellowship Award: Dame Helen Mirren

Impose duties on Indian products, demand farmers

With huge subsidies, which Indian farmers are enjoying, it will be near impossible for Pakistan farmers to compete. ILLUSTRATION: TALHA AHMED KHAN

LAHORE: Worried over import of subsidised Indian agriculture products via Wagah-Attari border, farmer groups have called on the government to set a tariff structure for such goods that will provide them room to compete with Indian counterparts.

“This is a matter of livelihood of more than 60% of the country’s rural population, which is being neglected for the last 66 years,” said Khalid Khokhar, President of Pakistan Kissan Ittehad, while talking to a group of journalists on Thursday.

With huge subsidies, which Indian farmers are enjoying, it will be near impossible for Pakistan farmers to compete. “We demand a proper duty structure for Indian agriculture products, else we will block the Wagah border as thousands of farmers are already frustrated with recent developments,” he said.

According to the farmers’ lobby, all matters are being controlled by the Ministry of Commerce, while the agriculture department is out of the loop. The ministry was only interested in increasing trade and revenues and was least bothered about the core issues afflicting the farmers, they said.

“We fear that the government is going to accept and sign an agreement with India without taking stakeholders from the agriculture sector on board,” said Dr Tariq Bucha, President of Farmers Associates Pakistan.

He pointed to the constitution of a task force under the Pak-India Joint Business Forum for addressing the farmer issues. Seven members from each side participated in its meetings and agreed on three major steps.

First, a separate bilateral trade agreement will be signed to cover agriculture products, for which a draft is currently being prepared. According to the draft, in the beginning only those crops should be traded which are not cultivated in any of the two countries, like pineapple and soyabean.

Second, trade of those products should be allowed which can be adjusted in seasonal windows, like mangoes and oranges. The last step was pertaining to a trigger mechanism based on price fluctuation.

Bucha expressed fear that like other major issues, which Pakistan had failed to address, the government might also not be able to tackle this trade issue. “Indian elections are approaching and the expected prime minister’s sentiments about Muslims are well known. If the new government decides to amend the bilateral trade agreements, then what would our government do,” he asked.

Locomotives for PR trains to arrive next month’

After overcoming the shortage of locomotives, the PR management would focus on the improvement of the signalling system. PHOTO: FILE

LAHORE: In order to facilitate travellers, locomotives’ supply will begin next month, said Pakistan Railways Minister Khwaja Saad Rafique as he addressed media yesterday.

PR is in the process of purchasing 58 locomotives from China to streamline its operation system, replacing the old ones. In the first batch, 23 locomotives would be brought to the country and would be used with the passenger trains in the summer season. The old ones would be sent for repair work and then be used as freight trains, added the minister.

“Extraordinary arrangements would be made and it would be kept in purpose belt sheds and special staff would be deployed for their care and maintenance,” said Rafique.

The supplying company would provide two years of maintenance and other assistance for these locomotives.

The arrival of new locomotives would improve train punctuality, which has been a huge issue in the past, said Rafique. PR needs diesel and electric locomotives, which were next on priority as the present source of fuel is diesel, added the official.

Meanwhile, Rafique admitted that corruption was a big issue that had caused PR issues. “I tried my best to curtail it at all levels, adding honest and dedicated officers to top management posts.”

After overcoming the shortage of locomotives, PR management would focus on the improvement of the signalling system as it was crucial to the train network.

The organisation has made foot patrolling more effective and latest gadgets would be provided to the staff supporting patrolling to ensure miscreants do not cause any damage, Rafique said. PR contacted all state departments and security agencies to improve the security of infrastructure, Rafique said.

Corporate results: Nestle posts a flat profit

The foods giant announced its annual results for CY2013 on Thursday, reporting an after-tax profit of Rs5.87 billion or Rs129.37 per share. CREATIVE COMMONS

KARACHI: 

Despite boosting its revenues by almost one-tenth, Nestle Pakistan posted flat profits as higher distribution and finance costs ate up some of the gains provided by higher gross profit in the calendar year (CY) 2013.

The foods giant announced its annual results for CY2013 on Thursday, reporting an after-tax profit of Rs5.87 billion or Rs129.37 per share, a meagre increase of 0.04% when compared with Rs5.86 billion or Rs129.32 per share it earned in CY2012.

Though its 2013 revenues increased by 9% to Rs86 billion compared with Rs79 billion of the corresponding year, a high distribution and selling expenses coupled with an increase in the company’s finance cost offset most of its earnings.

The announcement, however, was accompanied by a cash dividend of Rs75 per share for the year ending December, 2013 – this was in addition to the interim dividend of Rs50 per share already paid by the company.

“One of the main factors that ate up their profit was an increase in their distribution and selling expenses,” Topline Securities’ Senior Manager Research Zeeshan Afzal said. “Though a small number, an increased finance cost also affected the bottom line,” he said – the growth rate for Nestle Pakistan’s distribution and selling expenses was 22%, while finance cost was up by 15.6% in CY2013.

An overall slowdown in consumer demand, prevailing law and order situation and inflation – especially in the second half of the year – also played in, the analyst said. The inflation rate was recorded at 5.1% in May and rose to 10.9% in November before slipping to 9.2% in December, according to trading economics.com.

It is not a bad result overall, Afzal, the analyst said. Some numbers indicate that they are on the recovery path. Their sales have increased by 9% while gross profit margin also increased by more than 12%, he said