Tuesday, June 21, 2011

Brilliantly connects the universal themes of friendship and betrayal with the tech obsessed 21st Century generation

The Social Network: Life in bits and bytes

You would think that there wouldn’t be much to play around withThe Social Network in the telling of a straight forward tale of how another super geek invented the next big thing on the Internet. But “The Social Network,” which traces the founding story of Facebook (by miles the most popular social networking website), in the hands of two masterful craftsmen in director David Fincher and screenwriter Aaron Sorkin, zings with emotional intensity and wry wit. It captures not only the characters and the emotions of those who were associated with Facebook but also the zeitgeist of a generation.

The origins of Facebook, it would appear, were mired in a lot of sex, lies and coding scripts. In the fall of 2003, Jessica Albright (Rooney Mara) breaks up with the socially awkward but brilliant Harvard student Mark Zuckerberg (Jesse Eisenberg), and an angry and inebriated Mark gets back to his dorm room desperately looking for something to take his mind off her. In a rage filled bout of coding he manages to hack into the online student directories of practically every Harvard dorm and uses the data to create Facemash.com, a website where the photos of two students can be compared by users to decide who’s hotter. The website goes viral, crashes servers at Harvard, and Mark has a brainwave about a social networking website. He discusses the idea with his best friend Eduardo Saverin (Andrew Garfield) and gets him to financially support his newly launched website and thus is born the facebook.com. Things would have been pretty fine for Mark at this point had he not promised to help three other students – twins
Tyler and Cameron Winklevoss (Armie Hammer plays both) and Divya Narendra (Max Minghella) – with coding on a website with a similar idea. When thefacebook.com goes live, the twins are livid and finally sue Mark.

The story is told in flashback from the depositions in the cases against Zuckerberg in 2007, with a Rashomon Friendship Websitelike narrative device where parts of the story are recounted from different characters’ point of view. It works like a dream because all the while the tale keeps moving forward. The dialogue is sharp, biting and fast and the acting is brilliant. Eisenberg fantastically encapsulates the discomfort, disdain and the dislike the uber geek feels when dealing with mere mortals, while Andrew Garfield delivers a tour de force as the loyal and caring friend who becomes roadkill in Facebook’s rush towards the big time. But the one to watch out for is Justin Timberlake, who plays the role of maverick Silicon Valley entrepreneur Sean Parker (of ‘Napster’ fame) to perfection. As the man who drives the wedge between the friendship of Zuckerberg and Saverin, Parker’s role requires a certain sophistication and impishness and Timberlake nails it.

“The Social Network” does much more than just tell how Facebook came into being; it also poignantly illustrates the frustration of a whole generation in coming to terms with itself

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Saturday, June 18, 2011

Heavy inflows of FII money, falling exports due to rising rupee, and widening current account deficit!

India is now walking on the same lane that once brought in the Asian financial crisis.

In July 1997 the South East Asian stock markets, especially South Korea, Malaysia, Thailand and Philippines, which till then were on rampage, not only came to a screeching halt, but also entered into a prolonged phase of nightmare – better known as the Asian financial crisis. Foreign Institutional Investors (FIIs), which poured in a whopping $19.1 billion into the countries’ markets in 1996 and drove these markets to record highs, flew away overnight ruining the countries’ stock markets and economic stability. So much so that while the Thai stock market lost 75% of its value, the PSE Composite in Philippines fell by around 66%.

The scenario was more or less the same in January 2008, when the Indian benchmark index Sensex after scaling a historic high of 21,206 on January 10, dwindled down to 15,322 by January 22. This time the same FIIs, who from January 1 till January 16 had infused Rs 30.59 billion into the Indian stock markets, pulled out a nerve-wracking Rs 44.65 billion in just two days, January 17 and 18. And now, the Indian stock market has again become the purple cow for the FII group. As per the Securities and Exchange Board of India (SEBI), net investments made by FIIs in the country’s equity markets has already gone past a mind-boggling Rs 1 trillion ($22 billion), pushing the market to the 21,000 level. What is most noticeable here is the way the FIIs have got hold of the nerve of the Indian market since the beginning of September 2010. Since then, while they have infused $17.3 billion, the Sensex has soared 16.5%. While industry mouthpieces like C. B. Bhave, Chairman SEBI, might not be overly worried about the situation, what cannot be ignored is the fact that while in 1996-97, India was fairly insulated from the global economy and even FII hot money vagaries, the situation is quite different currently. While the reasons for the sudden fall in the stock markets might be quite clear to industry players, a majority of global investors would fail to undertake a deeper analysis and could arbitrarily decrease the sovereign ratings for the nation – resulting in much collateral damage, international loan interest rates inclusive.

In fact, due to the increasing inflow of external capital and surging demand for the rupee, value of the domestic currency has risen sharply in terms of real effective exchange rate hurting the country’s exports. As for records, the rupee, which was trading at 47.08 against the greenback on August 31, surged almost 6% to 44.26 (as on November 8) on the back of heavy buying by the FIIs. Moreover, the strengthening of the rupee has allowed imports to surge 35.7% y-o-y in the second quarter as against a 21.7% y-o-y decline last year, pushing India’s trade deficit to rise by 33.5% to $34.2 billion in Q2FY’10 from $25.6 billion in the same quarter last fiscal. Though the exporters are now lobbying with the central bank to put a check on the rate hikes to somehow protect their competitiveness (a drop in the interest rate can put a pause to the capital inflow by reducing the difference between the prevailing near zero interest rates of the developed countries and the high interest rate of India), the Reserve Bank itself is in a helpless situation in its fight against inflation.

The RBI is currently increasing its base rates by around 25 to 50 basis points in almost every fiscal policy meeting to absorb the excess liquidity that was injected by the government to the economy earlier to lift the country’s GDP growth rate to over 8%. But in the process, it is drawing a higher inflow of foreign funds to the country’s economic system. As of now, the spread between India’s 10-year bonds and the US 10-year treasuries is standing at a record high of 5.7%, making India a hot destination for the overseas investors. In fact, considering the fact that RBI is still to reach to a peak in terms of interest rate hikes, India even stands as a better destination for FIIs as compared to other developing Asian markets where inflation is well under control and hence chances of rate hike is lesser than India.

On the other hand, such a rush of FIIs to invest in the Indian market has created another hassle for the apex bank. As Bodhi Ganguli, Economist, Moody’s Economy points out, “All foreign-currency purchases by the RBI will have to be fully sterilised now to prevent from adding excess liquidity to the domestic economy.” But then, considering that India’s foreign currency reserve has grown over 5% from $256 billion to $269 billion between August 27 and October 29, the job in the hands of RBI does not seem to be an easy one. And if the country’s Broad Money (M3) is an indicator to be considered, then RBI is certainly struggling on this front as India’s M3 has grown by nearly 4.1% during that period to Rs 60.68 trillion (October 22) from Rs 58.30 trillion (August 27).

However, for the time being, the country can be in solace as the Planning Commission is still confident that these inflows can be absorbed by the country’s huge current account deficit. But, for a long term benefit of the country’s economy, today, Indian regulators must let go of the short term market benefits and put a check on the hot money flow. Else, sooner or later, India will end up being the epicentre of yet another Asian financial crisis.

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Wednesday, June 15, 2011

Hundreds of thousand of people live stateless in enclaves on either sides of the Indo-Bangla border amid inhuman conditions

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The nowhere men

He's a real nowhere man/Sitting in his Nowhere Land/Making all his nowhere plans for nobody. Doesn't have a point of view/Knows not where he's going to/Isn't he a bit like you and me?- The Beatles

“Please don’t ask me what happened on the night of October 16, 2010. On that fateful night, hundredsBangladeshi of houses in my village of Garati were burnt down to ashes. I was just returning to my village after my day's work at a doctor’s pharmacy in the district town of Panchgarh in Bangladesh. I saw my brother Joshim Miyan’s house being torched. I was frantically shouting out the names of my brother, cousins and other family members. No one replied. Everyone was crying out the names of their own family members, people were running helter skelter for shelter. I ran too, I had to save myself. I don’t know how long I ran for. Someone told me all houses in my village were gutted and that Bangladeshi miscreants were roaming around with firearms. I did not have any clue about my two brothers and my old parents. People were running towards their agricultural fields with their children to escape the marauding miscreants. I took shelter on an open road in Bangladesh like some other villagers, we waited for dawn to arrive. It
was a horrible night,” says Hamidul Miyan. Hamidul is a resident of Garati village, which is one of the Indian enclaves within Bangladesh.

An enclave is a geographical territory which is completely surrounded by foreign land.

It is locally called chitmahal. “Chit” means a fragment and “Mahal” means land. Chitmahals are enclaves which are geographically separated from the mainland but still pay revenue to it.

Hamidul has come just on the other side of the Kurshahat border gate in Cooch Behar district of West Bengal with two other affected villagers from Garati, Asraful and Sirajul, to meet this reporter. They wanted to come to India to demand justice for the people of the Indian enclaves. But the Border Security Force (BSF) and the state administration will not allow them to come into India.

Hamidul is aghast at being treated as a foreigner even after 64 years of Independence. “It is very painful to live in the enclaves. We have no identity, we are neither Indian nor Bangladeshi. It is my own land but I can’t claim it, parents cannot fix marriages for their daughters, we can't apply for proper jobs. Tell me what will we do? Who is responsible for us leading lives led by prisoners,” asks the angry young man.

Hamidul is 28 years old, his father Samsul Miyan has been a resident of Garati from the pre-Independence times. Hamidul is known as a medic in his village. Actually, he is a helper of a doctor in Panchgarh, Bangladesh. He passed his 10th standard from a Bangladeshi school. It is very difficult for people of chitmahals to get access to education. They have to persuade Bangladeshi families to let them use their names as their parents for admission in Bangladeshi schools.

The mob, which torched and vandalised several houses inside the Indian enclave in Panchagarh district of Bangladesh, apparently did so in retaliation of the alleged killing of a Bangladeshi criminal, Ramjan Ali, on October 15.

Diptimaan Sengupta, assistant secretary of “Bharat Bangladesh Enclave Exchange Committee (BBEEC), told TSI, “We are working to spread awareness among people in enclaves on both sides of the border to stop illegal activities. You know, some miscreants take shelter in the enclave after the crime as the local administration can’t enter the foreign land. We have had reasonable success and crime in the enclaves has stooped to an all-time low.”

Sengupta continues, “That’s why the enclave people denied shelter to Ramjan Ali, a known Bangladeshi anti-social. Ramjan and his group then attacked the Garati people with arms. Now hundreds of people are living under the open sky, they have lost everything. We appealed to the West Bengal state administration to send relief material. They have sent some but not in sufficient quantity. The people from the Bangladeshi enclaves are also lending their helping hand to the people of Garati.”

BBEEC has just started a census in the Indo-Bangla enclaves, a first since 64 years of Independence. According to the organisation, the census report, apart from finding out the exact number of affected people, will also bring out the social problems, the economic situation and the health conditions of the people so that they can appeal for help of both the Indian and the Bangladeshi governments.

“We are extremely sympathetic to the problems of the people in the enclaves, people who are living in Bangladeshi enclaves in India and those who are living in Indian enclaves in Bangladesh. The people of Indian enclaves can’t come to India easily because they have to cross Bangladeshi area. So, they need permission from both the countries. After the Garati incident, we have sent relief materials to the affected people through BSF and Bangladesh Rifles (BDR),” are the kind words of Smaraki Mahapatra, the district magistrate of Cooch Behar.

Things have started looking up for residents of Bangladeshi enclaves in India. “For the last two years, we are not treated as badly as before. Now if we need to see a doctor, we can go to the Indian mainland for treatment. Two years back, this was just impossible, the police would arrest us immediately but thanks to BBEEC's intervention, a lot have changed,” says Saheb Ali, a resident of the Bangladeshi enclave of Puaatur Kutir within the district of Cooch Behar. Currently, Saheb is busy collecting relief materials from Bangladeshi enclaves to help the Garati Indian enclave people. According to him, people of the enclaves on both sides are suffering the same situation and an acute identity crisis.

According to an Oxfam study conducted back in 2002, there were 1,50,000 people in the Indian enclaves in Bangladesh. As many as 50,000 people migrated to the Indian mainland as they were evicted from the enclaves. Thus, hundreds of thousands of people are living as stateless along the Indo-Bangla border. Lack of political will to find an effective and permanent solution has made their lives more miserable than ever before.

Available sources indicate that 92 Bangladesh enclaves exist within India. The number of Indian enclaves within Bangladesh stands at 111. After the partition of India in 1947, Cooch Behar district was merged with India and Rangpur went to then East Pakistan which became Bangladesh in 1971. After the formation of Bangladesh, New Delhi and Dhaka signed an agreement in 1974 demarcating the land boundary between the countries. According to that, both the countries agreed to exchange the enclaves or at least provide each other easy access to the enclaves. But very little has materialised ever since. The people of the enclaves on both sides have been demanding corridors connecting their respective enclaves with the mainland. They think since India and Bangladesh are friendly countries, ordinary people should not face discrimination or harassment.

“The current estimate of the number of stateless people is about 15 million all over the world and a large number of them are Bengalis living in the enclaves on both sides of the Indo-Bangla border. We want immediate intervention of the relevant authorities to solve the problem,” says a passionate Sengupta.

Mahapatra conceded that residents on both sides have demanded merger of their enclaves with the host nations or at least easy access to each other's mainland territory. But since these matters are much beyond the purview of a district magistrate and rest with the respective Central governments, she could not elaborate on what follow-up actions have been taken on these demands.

Unlike The Beatles' nowhere man, the saga of these men and women is not so romantic and escapist. Their lives are hard, there is no yellow submarine to ride. Their nights are cold and no one wants to hold their hands.

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Sunday, June 12, 2011

Hrithik Roshan on why 'Guzaarish' may be his best yet

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This is one of the happiest films that I have done

What drew you to "Guzaarish"?
I remember the day when Sanjay Leela Bhansali came to myHrithik Roshan house with this movie and while I was debating with him, I was very skeptical if I was evolved enough to take forth his vision and do justice to his creative genius or not… I was not sure. He took me through the film and in five minutes he made me laugh and cry and I heard myself say, ‘When do we start with this?’

You visited quite a few paraplegia patients… Was it your decision or was it Sanjay Leela Bhansali’s idea?
Oh, this decision would be the call for any actor… that’s what we’re paid for! It’s a huge responsibility when you’re doing a film like this, to portray the right spirit and the right mindset of a quadriplegic patient. Moreover, an actor’s biggest weapon is information without which one really can’t do much. So I set off on my journey to meet such people. Some of them are very good friends of mine today. This film has all shades… it’s dark, intense, tragic and yet puts a smile on your face.

Dark, intense and tragic films or superhero films, what do you enjoy doing more?
Let me make myself clear here: this is one of the happiest films that I have done. It is a character that smiles more than any other I have portrayed before. Ethan, my character, is the biggest and most powerful superhero that I’ve played. He can bring happiness into anyone’s life and that’s the spirit of the film.

You’ve worked with the finest directors in the industry. How was the experience with Sanjay Leela Bhansali?
With every journey comes a new world and I have to become a part of that world. With Sanjay Leela Bhansali I enjoyed the freedom I got as an actor, which I had never enjoyed in my life. I’d say he would just let me fly. There were times when I would come on the set and have some thoughts to add to the scene, but we were communicating at such a level that we never sat down and discussed it. So most of the time I would come in for a scene, he’d say action and then he would see what I had in mind for that scene in that shot which I gave. And this needs a lot of faith.

Share some memorable moments from the sets of “Guzaarish”…
Every day was fun. Sanjay Leela Bhansali is also the music director of the film, so every day he would come up with some new tune. There was always a guitar on the set and Aditya, who plays a very important role in the film, plays the guitar really well, so all the time we would sing and dance… Sometimes, Sanjay would also get up and show a step or two. A lot of his secrets were revealed including that he can dance, sing and make music. It was amazing.

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