Oscar Foreign Language Nod Especially Sweet for 'Outsiders'
As Palestinian director Hany Abu-Assad reflected on his second Oscar nomination for best foreign language film while hiking in the hills near Los Angeles on Thursday, he evoked the special sweetness the distinction carries for filmmakers from small, developing corners of the world.
“It means a lot to me, personally,” Abu-Assad said in a telephone interview, “because it will give you more opportunities to finance your projects and attract actors.”
Abu-Assad's film Omar about friendship and betrayal after three Palestinians murder an Israeli soldier, along with Cambodia's Rithy Panh's The Missing Picture represented the outsider countries nominated for best foreign language film, vying for the honor against dramas from established film industries in Italy, Denmark and Belgium.
“It's actually the same challenge as everywhere, financing film,” Abu-Assad said. “We don't have a real infrastructure for cinema [in Palestine] because we're still under occupation; it's not easy to move.”
The Academy of Motion Picture Arts and Sciences, which will hand out the Academy Awards on March 2, winnowed down 76 competing foreign films to nine in the first phase of the nomination process before announcing the final five.
“The toughest recognition to get is from the people who know the business well,” Abu-Assad said. “When you make a movie, you want recognition that you made a good movie and such a nomination gives you that recognition.”
Each country can nominate one film each year. Last year's winner, Austrian director Michael Haneke's austere French-language drama Amour, went beyond the foreign-language category by scoring nominations for best picture, directing, original screenplay and best actress.
Source-VOA
Madonna apologises for using racial slur on Instagram
Pop star Madonna has apologised for using a racial slur to refer to her son on an Instagram post.
The singer uploaded a snapshot of 13-year-old Rocco Ritchie boxing on Friday night, with the offensive epithet used in a hashtag accompanying the photo.
"I am sorry if I offended anyone with my use of the 'n-word'," she said in a statement issued on Saturday.
"It was not meant as a racial slur. I am not a racist. There's no way to defend the use of the word."
Madonna's comment was swiftly deleted from her Instagram account after some of her 1.1 million followers berated her for using the hashtag "#disnigga"
She later re-posted the same photo on Instagram, with a defiant (and largely unprintable) new caption that began: "Ok, let me start this again."
On Saturday afternoon however, Madonna deleted the post entirely, and instead released a statement through her publicist, saying "forgive me".
"It was all about intention," she continued. "It was used as a term of endearment toward my son who is white.
"I appreciate that it's a provocative word and I apologize if it gave people the wrong impression."
Madonna and her children (L-R): David, Lourdes, Mercy and Rocco on a trip to visit the Mkoko Primary School in Malawi, funded by her Raising Malawi organisation
Besides Rocco, Madonna has three other children, including Lourdes, David and Mercy. Her two youngest were both adopted from the African nation of Malawi.
The star came under fire earlier this month for posting a separate picture of Rocco on New Year's Eve, in which he and his friends posed with bottles of alcohol.
Madonna responded: "No one was drinking, we were just having fun!
"Calm down and get a sense of humour! Don't start the year off with judgement!"
Oscar nominees attend Critics' Choice Awards
A host of Oscar nominees came together for the Critics' Choice Movie Awards in Los Angeles on Thursday, which saw Gravity win a record seven prizes.
The awards are a likely indicator of Oscar success and have predicted many of the winners in recent years.
Gravity was named best sci-fi film, while Alfonso Cuaron won best director and Sandra Bullock took best actress in an action movie.
However, 12 Years a Slave collected the coveted best picture prize.
Determined by the Broadcast Film Critics Association, the best picture winner has gone on to win the best picture Oscar in six of the past seven years.
The ceremony saw Matthew McConaughey and Cate Blanchett win the top acting awards for their performances in Dallas Buyers Club and Blue Jasmine.
The pair also both won Golden Globes for their roles at the weekend.
McConaughey thanked the late Ron Woodroof, whom he portrayed on screen, saying he had "a life that was damned well worth putting to the big screen".
12 Years a Slave star Lupita Nyong'o was named best supporting actress, while McConaughey's co-star Jared Leto picked up best supporting actor.
Leto, who plays a transsexual woman in the Aids drama, dedicated his award to "all the people around the world who are living with HIV [and] all the people who have lost their lives to this horrific disease".
American Hustle - which received 10 Oscar nods - collected four awards in total, including best comedy film, acting ensemble, hair and make-up and best actress in a comedy for Amy Adams.
Leonardo DiCaprio followed up his Golden Globe win another best actor in a comedy prize for The Wolf of Wall Street.
Mark Wahlberg picked up best actor in an action film for war film Lone Survivor, which also collected best action film.
French film Blue is the Warmest Colour, which was snubbed by the Oscars, won the best foreign language film award, with its star Adele Exarchopoulos named best young actress.
Speaking ahead of the ceremony, Oscar talk dominated the red carpet from the nominees.
American Hustle director David O Russell said he was "very grateful to be part of it all", while 12 Years a Slave director Steve McQueen said he was "happy to be amongst" the best picture shortlist.
British 12 Years a Slave star Chiwetel Ejiofor - who is Oscar nominated for best actor - said the day had been "completely thrilling".
"It was excellent and I was so excited, obviously for myself, but I was excited for everybody in the film and in the project."
Bruce Dern, who is nominated for his role in Nebraska, added: "It's nice to have your fellow teammates stand up and say, 'Hey, you had a good year, congratulations'."
The complete list of winners:
Picture - 12 Years a Slave
Actor - Matthew McConaughey, Dallas Buyers Club
Actress - Cate Blanchett, Blue Jasmine
Supporting actor - Jared Leto, Dallas Buyers Club
Supporting actress - Lupita Nyong'o, 12 Years a Slave
Young actor/actress - Adele Exarchopoulos, Blue Is The Warmest Colour
Acting Ensemble - American Hustle
Director - Alfonso Cuaron, Gravity
Original screenplay - Spike Jonze, Her
Adapted screenplay - John Ridley, 12 Years a Slave
Cinematography - Emmanuel Lubezki, Gravity
Art direction - Catherine Martin (production designer), Beverley Dunn (set decorator), The Great Gatsby
Editing - Alfonso Cuaron and Mark Sanger, Gravity
Costume design - Catherine Martin, The Great Gatsby
Hair and make-up - American Hustle
Visual effects - Gravity
Animated feature - Frozen
Action movie - Lone Survivor
Actor in an action movie - Mark Wahlberg, Lone Survivor
Actress in an action movie - Sandra Bullock, Gravity
Comedy - American Hustle
Actor in a comedy - Leonardo DiCaprio, The Wolf of Wall Street
Actress in a comedy - Amy Adams, American Hustle
Sci-fi/horror movie - Gravity
Foreign language film - Blue Is the Warmest Colour
Documentary feature - 20 Feet From Stardom
Song - Let It Go, Robert Lopez and Kristen Anderson-Lopez, Frozen
Score - Steven Price, Gravity
Source-BBC
Superman v Batman delayed to 2016
Superman and Batman's big screen team-up has been delayed by almost a year, film studio Warner Bros has confirmed.
Originally scheduled for July 2015, the superhero set-to will now appear on 6 May, 2016.
A sequel to 2013's Man of Steel, the as-yet-untitled film sees Ben Affleck stepping into the Batman role, next to British actor Henry Cavill's Superman.
It was reported the delay was triggered by Affleck sustaining a leg injury, but that has been dismissed by the studio.
Instead, the release date has been pushed back to "allow the filmmakers time to realise fully their vision, given the complex visual nature of the story," it said.
The film has recently gained a third superhero - with Fast and Furious star Gal Gadot signed up to play Wonder Woman.
Filming had already started before the announcement, with some incidental footage of an American Football game shot before Christmas.
However, director Zack Snyder was not due to call "action" on the main scenes until spring.
The move away from 2015 means the Superman vs Batman blockbuster avoids a crowded marketplace, with new instalments of The Avengers, Terminator, Jurassic Park and Fast and Furious all scheduled to hit cinemas over the summer.
Warner Bros says it will still make use of the 17 July date, scheduling a new Peter Pan film by British director Joe Wright (Atonement, Pride and Prejudice) for that weekend.
Meanwhile, Superman's release date had already been earmarked for an as-yet-unannounced film from comic book rivals Marvel - which could mean a superhero stand-off at the box office, as well as on the silver screen.
"We know that there is already great anticipation building for the next superhero film from Zack Snyder, and we are equally eager to see what he has in store for Superman and Batman as they share the big screen for the first time ever," said Warner Bros president Kwan Vandenberg in a statement.
Source-BBC
China economic growth at 14-year low
China's economy, the world's second-largest, grew at its slowest pace in 14 years in 2013, latest figures show.
Its gross domestic product (GDP) expanded 7.7% from a year ago, the slowest pace of growth since 1999.
The growth rate was better than the government's target of 7.5%. The pace of expansion was also the same as 2012.
The data highlights the challenge policymakers face in sustaining China's high growth rate as they look to rebalance the economy.
Many analysts expect the country's growth rate to slow as it takes steps to move away from an investment-led growth model to one driven by domestic consumption.
"We expect China's GDP to be around 7.6% in 2014," said Shen Jianguang, chief China economist at Mizuho Securities in Hong Kong.
"The government moves to curb shadow banking and local government debt will cap the growth of investment."
Source-BBC.Business
Deutsche Bank reports surprise loss as legal costs mount
Deutsche Bank has reported a surprise loss for the fourth quarter of 2013, after releasing its latest results before they were expected.
Overall Deutsche said it posted a pre-tax loss of 1.153bn euros for the final quarter of 2013.
The bank said that litigation costs and restructuring had weighed heavily on its financial performance.
Litigation costs mounted up to 528m euros (£435.3m) for the period, while revenue fell 16%.
At the end of last week the company's shares closed down 3% in New York after reports of a profit warning rattled already anxious investors.
Deutsche Bank - Germany's largest lender - has faced some large problems in the past 12 months. In December 2013 it agreed to pay 1.4bn euros to settle a lawsuit with the US Federal Housing Finance Agency (FHFA).
The lawsuit accused Deutsche Bank of breaking state and federal laws when it sold financial products backed by mortgage loans to Fannie Mae and Freddie Mac between 2005 and 2007.
Also in December it was among six banks fined $2.3bn (£1.4bn) by the European Commission after been found guilty of colluding to rig two global interest rate benchmarks.
Deutsche Bank suffered the largest fine of the six - 725.36m euros - over rate fixing.
For the year, it has set aside 2.5bn euros for various lawsuits.
In Sunday's results statement, the bank's joint chief executives Juergen Fitschen and Anshu Jain said that they are confident of reaching their targets for 2015. Though they said that they "expect 2014 to be a year of further challenges".
The bank will post a profit for 2013 overall, they added.
Deutsche Bank had originally planned to release its results on 29 January.
Source-BBC
Experts to debate fiscal policy, debt and growth in the Caribbean
The UN Economic Commission for Latin America and the Caribbean (ECLAC) says fiscal authorities from central banks as well as economy and finance ministries from the region and Spain will this week debate fiscal policy, debt and growth in the region.
ECLAC said the authorities will meet on Monday and Tuesday with international experts at the 16th regional seminar at ECLAC’s headquarters in Chile.
The annual meeting promotes the discussion of current affairs in the field of public finances and the role of the state in the region's economies.
The two-day meeting is being co-sponsored by the International Monetary Fund (IMF), the World Bank, the Organization for Economic Cooperation and Development (OECD) and the Inter- American Development Bank (IDB), with the support of Germany's federal ministry for economic cooperation and development.
ECLAC said the seminar will address the issues of fiscal policy, debt and growth, and proposals will be presented that aim to construct quality public finances, incorporating the objectives of fiscal sustainability as well as income distribution and economic growth.
ECLAC said it would also present the “fiscal panorama of Latin America and the Caribbean 2014,” which summarizes the fiscal situation in the region and addresses timely topics, such as the relationship of fiscal policy to income distribution and the initiatives that seek to improve the quality and transparency of public spending.
Delegates will also discuss fiscal income, natural resources and green taxes, and the ECLAC said the third edition of the report, “Revenue statistics in Latin America 1990-2012,” will be unveiled.
The report “systematises regional tax statistics and contains a special chapter on fiscal income and basic products,” ECLAC said.ECLAC said the public finance workshop 2014 will be held to “examine the effects of fiscal action on income distribution and the policies needed to improve them, both in terms of taxes and public spending”.
Source-CMC
Irish debt upgraded from junk status by Moody's
The credit rating agency Moody's has upgraded Ireland's debt from junk status to investment grade, saying its economy has growth potential.
The news is the latest in a run of positive reports for Ireland and comes as investors start to welcome the chance to invest in the country through its government-issued bonds.
Moody's was the only one of three key agencies to class the debt as "junk".
An investment grade mark means more investors can buy Irish debt.
Moody's has lifted its rating, which appear as a sometimes complex series of numbers from Ba1 to Baa3.
It says the recovering economy and its improved growth potential along with its return to the international bond market merit the higher score.
Ireland was effectively locked out of international credit markets after its banking collapse left only the European Union and the International Monetary Fund willing to support its needs.
The interest rate being demanded by investors to the country - a sign of investors' confidence - has fallen to 3.5% from 15% in mid-2011 on one key bond.
Ireland's Finance Minister Michael Noonan said: "Today's upgrade will have benefits for the economy as a whole by putting downward pressure on the price of credit for companies and organisations who are reliant on the markets for funding."
Official figures recently showed a stronger construction sector drove growth in Ireland's economy in the July-to-September quarter leaving gross domestic product up 1.5% quarter-on-quarter.
Source-BBC.Business
Royal Dutch Shell issues profit warning
Oil giant Royal Dutch Shell has issued a profit warning after it made less money than expected in the final quarter of 2013.
"Fourth-quarter 2013 figures... are expected to be significantly lower than recent levels of profitability," the company said in a statement.
It now expects profits for the quarter to be about $2.2bn (£1.3bn) and profits for 2013 as a whole to be $16.8bn.
Shell's shares fell more than 4% at the beginning of trading in London.
Profits for 2013 are expected to be down significantly on 2012, when it made $27.2bn.
"Our 2013 performance was not what I expect from Shell," Shell chief executive Ben van Beurden said in a statement.
"Our focus will be on improving Shell's financial results, achieving better capital efficiency and on continuing to strengthen our operational performance and project delivery."
Mr van Beurden became chief executive at the beginning of this year, taking over from Peter Voser.
Shell said its profits in the fourth quarter were hurt by a range of factors, including higher exploration costs, security problems in oil-rich Nigeria, and maintenance work that hit oil and gas production.
It said the weakening of the Australian dollar also had an effect.
Expected profits of $2.2bn for the quarter include impairments of $700m. When these are discounted, the expected profits are $2.9bn.
Shell's official annual results are scheduled to be published on 30 January.
It has seen a string of disappointing quarterly results over the past 12 months.
Earlier this week, it detailed plans to sell off some of its North Sea oilfield investments, and last year it began selling off some interests in the US shale gas industry.
In December, the Anglo-Dutch company also cancelled a $20bn project to build a gas processing plant in Louisiana.
Source-BBC
Syria's Bashar al-Assad: Quitting not up for debate
Syrian President Bashar al-Assad is quoted as saying he has no intention of quitting, and the issue is not up for discussion at forthcoming peace talks.
"If we wanted to surrender we would have surrendered from the start," Mr Assad told Russian MPs in Damascus, according to Interfax news agency.
The government, opposition groups and Western diplomats will attend peace talks in Switzerland from Wednesday.
More than 100,000 have been killed and millions displaced in Syria's conflict.
The Syrian presidency later said the comments reported by Interfax were "inaccurate", without giving further details.
According to Syrian news agency Sana, Mr Assad told the delegation that Syrian people were confronting "terrorism and foreign intervention".
Opposition groups have previously demanded the removal of Mr Assad as a condition of any discussions on a possible transitional government.
But the Syrian National Coalition, the exiled opposition body, announced on Saturday that it would attend the talks.
The decision was praised by the US which, with Russia and the UN, is taking a leading role in organising the negotiations.
The path to the talks began in May last year when US Secretary of State John Kerry and Russian counterpart Sergei Lavrov agreed to try to bring both sides together.
Later, the UN Security Council called for a conference to implement the Geneva communique - a deal on a transitional government agreed at a UN-backed meeting in 2012.
Damascus agreed to take part in the talks, but said its delegation would pursue "first and foremost eliminating terrorism".
Mr Assad is said to have reiterated that point of view in his talks with the Russian MPs.
Source-BBC