Wednesday, 10 September 2014

China coming up with investment, not loans: Asif

ISLAMABAD: 
Federal Minister for Water and Power Khawaja Mohammad Asif has lashed out at the Pakistan Tehreek-e-Insaf (PTI) chairman for repeatedly criticising upcoming Chinese investment, saying the money is coming in the form of foreign direct investment and not as a loan that will increase the country’s debt burden.
Speaking at a press conference here on Tuesday to respond to allegations levelled by PTI chief Imran Khan, Asif said Chinese government had approved $34 billion worth of investment after assessing Pakistan’s electricity needs.
“Beijing has designated three banks including Exim bank that will provide loans to Chinese companies for investment in power, railway and transport sectors in Pakistan,” he said. “These loans will not be a liability on the government of Pakistan.”
He advised the PTI chairman to consult his aides before issuing statements. “We are ready for scrutiny and accountability,” he said and ruled out the possibility of overlooking bidding rules in the award of contracts to Chinese firms.
“We have given advertisements for investment in Gadani power projects and a competitive bidding process will be initiated for upcoming power plants.” Successful bidders would have to show project feasibility reports to Chinese banks to qualify for the loans, he pointed out.
He categorically stated that Pakistan government would not give any sovereign guarantees to Chinese investors, who would install power plants in public-private partnership mode.
He revealed that Chinese banks would extend commercial loans to private enterprises at 7% mark-up. On the other hand, Pakistan has got concessionary loans from the Asian Development Bank (ADB) and World Bank at 2% to 4% mark-up.
“The ADB and World Bank have loan deals with Pakistan, therefore, these are concessionary loans whereas Chinese investment is in the form of commercial loans at 7% mark-up,” he said, adding Chinese companies would set up power plants to generate 10,400 megawatts to bridge the shortfall.
He also claimed that PTI leader Imran Khan had deposited utility bills and electricity supply would be cut off in case of unpaid bills.
Acknowledging that the existing transmission system could carry load of only 16,000MW, Asif announced that the government was going to unveil a policy to pave the way for the private sector to lay transmission lines.
He expressed the hope that industrial units, which were shut down due to power shortages, would be revived after an increase in electricity generation. “We face a shortfall of 4,000 to 5,000MW and the Chinese investment will not only help fill this gap, but will also revive the closed industrial concerns.”
Speaking about the Thar coal project, Asif said capital injection into the scheme was part of the $34-billion investment programme. The rate of return on coal-based power plants will be 17% to 27%.
He admitted that the cost of coal-fired power projects was $1.45 million per megawatt whereas in India it was $550,000. “India produces 60% to 70% of material whereas we would have to import all material for power plants.”
The minister rejected the perception that the giant Mansha group would benefit from the investment programme, saying the group would have to go through the bidding process if it wanted to set up a power plant.
He also ruled out any role of Saifur Rehman, former NAB chief, in the deal for power plants.
“Nepra is the most independent body and defends its independence. It has members from all provinces including Khyber-Pakhtunkhwa and decisions are taken with consultation,” he said.
He also said no changes were made in Nepra laws and the regulator’s chairman was not his brother as he was from Sindh.

GOTZE said he will likely to play outside Germany

Gotze: I'd like to play abroad some dayThe 22-year-old attacking midfielder only arrived at the Allianz Arena last summer but he is open to the idea of playing outside Germany in the future
Bayern Munich starlet Mario Gotze has revealed an interest in moving abroad at some point in his career.
The 22-year-old only joined the German champions from Borussia Dortmund last summer, after the Bavarians agreed to meet his €37 million buy-out clause.
However, Gotze, who has yet to nail down a regular starting berth in Pep Guardiola's starting line-up, has now admitted that he is open to the idea of playing outside Germany in the future.
"Being abroad would be attractive for your character; there are good examples of that," the attacking midfielder mused in an interview with Sport Bild.
"But I haven't yet had any serious thoughts [about it]. I'm very, very happy that I am at Bayern, and playing in Germany.
"[I want to play] as long as possible. [Former Germany team-mate] Miroslav Klose is 36 and still playing.
"Since I could have another 14 years ahead of me, you have to wait and see how things go; where the path leads..."
Gotze, of course, was Germany's match-winner at this summer's World Cup, scoring the only goal in the 1-0 win over Argentina in the final. However, he is uncomfortable with his hero's tag.
"Football makes people happy, but it's not a matter of life or death," he reasoned
"Doctors and nurses - they save lives and do much more than all of us footballers. They are heroes to me.

Van Gaal told he can spend again in January as Manchester United announce record turnover

Van Gaal told he can spend again in January as Manchester United announce record turnoverThe Dutchman spent big in the summer window, acquiring the likes of Angel di Maria, Luke Shaw and Radamel Falcao, but will be given the green light to splash further cash
By Wayne Veysey
Louis van Gaal has been given the green light to carry on spending as Manchester United announce a record turnover of up to €535 million and a profit of around €51m in their latest set of financial results.

The accounts for the year ending June 2014 do not take into account the club-record €75m signing of Angel Di Maria or the late August captures of Marcos Rojo, Daley Blind and Radamel Falcao on loan.
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10/11Man Utd are 10/11 with Paddy Power to finish in the top four

United's commercial deals, including a €66m-a-year shirt sponsorship deal with Chevrolet that started this summer and a 10-year kit agreement with Adidas worth €93m-a-year that kicks in next year, mean the 20-times Premier League champions are able to withstand the cost of a season outside of Europe's elite.

Real Madrid announced last week that their annual revenue has soared to €598m, the highest mark for any club in the world. But even the Spanish giants and fellow big-hitter Barcelona cannot rival the fresh commercial deals in place at Old Trafford.

United have spent in excess of €187m this summer on new signings, including the British record signing of Di Maria.

Sources have told Goal that United could have even afforded to have spent €250m on transfers and have the finances in place to buy a player to the equivalent value of Di Maria every year for the next decade.

Further spending is expected to take place in the January market as Van Gaal is given further licence to continue his radical overhaul of a squad that failed so dismally under David Moyes last season and has begun the current campaign in equally uncertain fashion.

The annual results should also include details of pay-offs to former manager Moyes and his coaching team, but the figures will not reflect any financial losses incurred from failing to qualify for Europe for this season.

It is believed Moyes was given a €4.3m pay-off, equivalent to a year's salary, and a similar sum was handed to his backroom team of Phil Neville, Steve Round, Jimmy Lumsden and Chris Woods.

United’s surprise drop from champions in 2012-13 to seventh-place last season saw the club suffer a reduction of £8.4m in Premier League prize money last season – a campaign which Woodward described as "very disappointing" when addressing investors following the publication of quarterly accounts in May.

The absence of Champions League football this season is worth a minimum €31m, and probably at least €12.5m more, meaning the Moyes regime cost the club in the region of €62.2m compared to the heights usually reached under Sir Alex Ferguson.

Hummels blasts Bayern's "calculated" attacks on Dortmund

Hummels blasts Bayern's "calculated" attacks on DortmundThe Germany international has blasted his former club's CEO for trying to destabilise BVB by publicly revealing the alleged figure of Marco Reus' buy-out clause
Mats Hummels has accused Bayern Munich of repeatedly making "calculated" attempts to "weaken or unsettle" Borussia Dortmund.
The defender came through the youth team ranks in Bavaria before leaving for BVB in 2009, after a year on loan at Signal Iduna Park.
However, despite his close ties with Bayern, he is appalled by what he feels are deliberate and underhanded attempts to destabilise Dortmund, citing Karl-Heinz Rummenigge's recent comments on Marco Reus' buy-out clause as a case in point.
"Bayern have had difficulties for us for years, which is why they try to weaken or unsettle us," the Germany international told Transfermarkt.
"Look at the way Karl-Heinz Rummenigge recently betrayed the alleged contract details of Marco Reus - such statements are calculated.
"But the fact that Bayern deals with us is actually the greatest praise."
Hummels also feels that Dortmund, who won successive Bundesliga titles in 2011 and 2012, believes that Jurgen Klopp's side have upset Bayern with their on-field excellence and argues that they would have claimed even more trophies at their rivals' expense had it not been for poor officiating.
"What if we had had the luck of the referee on our side in the Champions League final [in 2013 when Dante controversially avoided a red card] and the DFB Pokal final [last season when Dortmund had a fair goal not given] - and not Bayern?"
"I think they know that these two victories were lucky and that they could have been very different."
Hummels admitted that he could easily still be at Bayern today had fate not intervened - but insisted that leaving the Allianz Arena was the key moment in his career to date.
"If Bayern had not bought Breno in 2007 for €12 million, I would not have left," he argued.
"But that's the way football is sometimes: I was practically forced towards happiness. It was the best thing that could have happened to me."
Consequently, while Hummels has been linked with the likes of Manchester United and Barcelona in recent times, he has no intention of leaving Dortmund, which is precisely why he insisted against having a buy-out clause in his contract.
"I wanted to set an example with the extension I signed and it will run for five years until 2017."

Monday, 8 September 2014

How’s that?: Brett Lee embraces the big screen

MUMBAI: Former Australian fast bowler Brett Lee will star in his first lead role as an actor in UnIndian, the first feature of a recently established Australia India Film Fund (AIFF). He will share screen space with Indian actress Tannishtha Chatterjee.
The romantic comedy, which will highlight the complexities of the Indian diaspora, will go into production in October in Sydney; it was announced during Australian Prime Minister Tony Abbott’s visit here Thursday.
Written by Thushy Saathi and to be directed by Anupam Sharma, UnIndian is being presented by Devendra Gupta and Yateender Gupta.
The two actors are excited
“I’m honoured to have been cast as a lead in the first AIFF film, privileged to be working with Anupam Sharma and humbled to be working with an actress of the calibre of Tannishtha Chatterjee,” Lee, who had earlier featured in a cameo in Hindi film “Victory”, said in a statement.
Tannishtha is equally upbeat
“Australia has always been a very special country for me. I love the script and I am super excited to work with Anupam Sharma and his entire team. And Brett Lee… What can I say? Look forward to having a blast, Brett,” she said.
Sharma and Lisa Duff are co-producing the film while Chandru Tolani is the executive producer.
AIFF was established in 2013 to invest in Australian films with Indian themes for a global audience.
The story of UnIndian is about a divorcee and single mother, Meera (Tannishtha), who meets the charismatic Will (Lee). Love is the last thing on Meera’s mind, but her marital status is the subject of much discussion within her family, and she is encouraged on a seemingly daily basis to marry ‘a nice Indian man’.
Devendra Gupta, CEO, AIFF, said: “Over the next few years we intend to inject significant funds into the Australian film and television industry, with specific focus on cross-cultural stories.
“As Indian-Australians we see it as our responsibility to both celebrate the values of and strengthen ties between the two countries.” IANS

Bollywood BTS

SRK dedicates 15 hours to Fan
A workaholic, Shah Rukh Khan devoted 15 hours of a day for his commitment to new filmFan. The experience for him, he says, was “satisfying”.
“Finished once again a 15-hour gruelling day of satisfying work on Fan. Thanks Maneesh & ur Fan Team…being so nice to me & smiling along,” Shah Rukh tweeted.
SRK, whose recently revealed eight-pack abs in Happy New Year has caught eyeballs galore, had earlier said that the movie is dedicated to his fan following.
Fan is a ‘family film’. It’s the family all of you have become for me…the one I didn’t have. I want to be as beautiful as you all. Thanks,” he had once said.
Mary Kom leaves Shilpa in tears
Actress Priyanka Chopra is responsible for making Shilpa Shetty cry! And no, it’s not because the former hurt the latter in any way.
“Jus Saw #MaryKom all actors performed so well but @priyankachopra u rocked it. Omung’s done a fab job. Cried my eyeballs out. Must watch tweetos,” Shilpa tweeted Sunday.
Even her husband and businessman Raj Kundra, who has always supported Shilpa in her entrepreneurial pursuits, tweeted: “The real star of #marykom in her real life is Onler. Family support is all you need! And in Reel life @priyankachopra u made my wife cry.”
The couple happens to have had a personal interaction and camaraderie with boxing champion MC Mary Kom, whose life has inspired the biopic.
Priyanka sends hand-written note to Arjun
Priyanka Chopra has her ways of making people feel special — and this time the lucky one was her Gunday co-star Arjun Kapoor.
The actress sent a personal note to Arjun for his forthcoming release Finding Fanny.
Addressed to Fubu, Arjun’s pet name, she wrote: “To Fubu, aka Arjun, Happy Happy Inglisss Friday! Fanny looks amazing.. love, PC.”
Arjun was touched by the gesture.
“That’s why @priyankachopra is one of the coolest people around…a hand written note in the time of SMS s and emails,” he tweeted.

42 days: shortcut to a long-term solution?

KARACHI: 
Nusrat Hidayatullah and Torsam Tajik have taken fitness in Karachi to another level by introducing ‘The 42 Day Challenge’ where they take 250 participants in each spell and help them get into shape.
It has been almost two years since they started the project, reaching out to people between the age of 13 and 65 year.
“It just takes six weeks to transform your body,” Nusrat told The Express Tribune. “We have all kinds of people, from skinny to obese to those with medical conditions or physical injuries,” she said that the ‘The 42 Day Challenge’ applies to all body types.
The workout sessions take place six days a week at Moin Khan Academy from Monday to Saturday at 7:30pm for 40 minutes. The first 20 minutes tend to focusing on cardio and abdomen workouts while the last 20 minutes are  devoted to weight training.
Every week, the exercise changes as participants keep building stamina and on Monday mornings, the participants are asked to measure their inches and see the difference for themselves.
Hailing from different professions, 24-year-old law student Nusrat and 23-year-old medical student, Torsam met at a Motorcross show held at the Moin Khan Academy. A week later they met again at the gym. But the average workout was not working for them.
“I had 26 percent body fat and I kept losing weight,” said the law student-turned -rainer. They learnt that it’s not just the body fat you need to rid yourself of but also the additional inches.
Upon realising this, they stopped going to gym altogether and just started working out at home after researching various workout regimens and programmes like the P-90x and Insanity.
“We also tried various meal plans since most of your body is dependent on the food you eat,” added Nusrat.
Submission forms for the ‘The 42 Day Challenge’ are available at The Pantry: a restaurant in Zamzama. After registration, participants have their BMR tests done and the trainers e-mail them their six meals a day diet plan, which they need to follow religiously from day one of the workout.
Having said that, Nusrat does acknowledge that  she and Torsam were put in a quandary when one of the participants started throwing up after exercise. This was a clear sign that in individual cases, there is a fair chance of the participant not responding appropriately to the workout routine and meal plan.
However, a majority of the participants have been optimistic about the results.
Fahad Tahir, the owner of a textile company spoke of how the challenge got him into shape helping, shed 15 kilograms and lose four inches in a single spell, thus motivating him to carry on for a third time. “It really makes my life so much better and healthier,” Fahad told The Express Tribune.
Women and men stand in lines in front of the two trainers; Torsam leads the men, while Nusrat leads the women. “First, they hate us and then when they finally see a difference, they love us and remain motivated throughout the challenge,” says Nusrat.
There are some girls who wear burkas to the workouts and when they are asked not to wear them, they usually clad themselves in burka-style attires. “These girls do not like it if I do not show up at the workout as they say they get scared of the domineering personality and physique of Torsam,” elaborates Nusrat.
After the completion of the ‘The 42 Day Challenge’, the participants are given a CD in which their entire workout has been recorded.