OPINION, P2 EXPRESS ADDA ACROSS THE AISLE, P CHIDAMBARAM ‘Art should be frontally open to rejection, not these critic kind of rejections’ Page 4 Celebrating gods, neglecting children - 2 IDEA EXCHANGE TM KRISHNA Vol XVII No 13 Prakash Ambedkar ‘I am seeing signs of the younger generation turning against the present regime’ Page 9 Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM LEISURE MEAD IN HEAVEN NEW DELHI SUNDAY, JANUARY 21, 2018 14 Pages, `8 (Patna `11, Raipur `10) SPOTLIGHT REPAIR, RESTORE, REPEAT FINANCIALEXPRESS ON SUNDAY READ TO LEAD PUBLISHED FROM:AHMEDABAD, BENGALURU, CHANDIGARH, CHENNAI, HYDERABAD, KOCHI, KOLKATA, LUCKNOW, MUMBAI, NEW DELHI, PUNE ONGC to buy govt’s 51% stake in HPCL US govt shuts down after spending bill rejected in Senate PRESS TRUST OF INDIA Washington, January 20 WORDSWORTH LOOKING FOR STARS INTHE SKY Review of Shimon Peres’ memoir No Room for Small Dreams Page 5 FE BUREAU New Delhi, January 20 THE DEAL THE CENTREAND state-run oil Cost of acquisition: `473.97 per share explorer ONGC on Saturday clinched a deal for the latter’s acquisition of the government’s 51.11% stake in HindustanPetroleumCorporation (HPCL) for a consideration of `36,915 crore. Earlier in the day, an empowered panel headed by finance minister Arun Jaitley had approved the price bid. The all-cash deal will help the government boost its nondebt capital receipts when some revenue streams are weak; for ONGC, the vertical integration to be achieved once the oil marketer comes to its fold will enable it to mitigate the risk of crude price volatility. In a stock market filing, ONGC said it will acquire the government’s entire 778,845,375 equity shares in ODD & EVEN Total acquisition cost: `36,915 crore for 51.11% Total number of shares acquired: 778,845,375 Main products of HPCL: Motor spirit, high-speed diesel, LPG & lube oil HPCL standalone turnover in last three fiscals: FY15: `2,17,061 crore FY16: `1,97,438 crore FY17: `2,13,489 crore HPCL at `473.97 per share compared with the current marketpriceof`416.55,apremium of around 14%. Continued on Page 11 Sweet countdown to Budget FM Arun Jaitley at the halwa ceremony to mark the start of the printing process for the Budget documents, in New Delhi on Saturday. After the sweet dish is served, a large number of officials and support staff associated with the Budget’s making and printing are required to stay quarantined in the ministry till the Budget presentation TASHI TOBGYAL Nabbed Dewas official not ours: RBI PRESS TRUST OF INDIA Mumbai, January 20 THERBISAID onSaturdayitdoes not have any official posted at the Bank Note Press in Dewas, where a person has been apprehended allegedly for stealing currency. In a statement, the central bank said it has been QuickPicks ROHNIT PHORE Sanjeev Gupta’s Liberty House to bid for French assets UK-BASED INDIAN-ORIGIN steel tycoon Sanjeev Gupta's Liberty House Group is set to make an “unconditional and comprehensive offer” for the assets of two flagship French steel businesses, reports PTI. The offer, to be made in court next week, is aimed at securing the jobs of close to 1,600 employees at six operations across France, as well as those of many suppliers. Liberty plans to invest more than $366 million over five years to stabilise and grow the business. PAGE 3 IPLviewers at home have no reason to complain Can now expect language options, VR, a 360-degree view on Hotstar ANUSHREE BHHATTACHARYYA New Delhi, January 20 IF 3D AND 4DX changed the Viewership on TV (in million) (in million) 192 190 361 2017 176 2016 163 2015 162 130 144 100 123 41 410 Viewership on Hotstar 102 experience of watching a movie in theatres, as viewers got a chance to experience motions such as air, vibrations, etc, virtual reality (VR) is expected to change the way viewers have so far watched the popular T20 tourney, the Indian Premier League (IPL). Star India — the official broadcaster of theVivo IPL for the next five years — is relying on technology like VR to drive viewership, as well as engagement, on its video over-the-top (OTT) platform Hotstar. The broadcaster has also introduced six feeds — including those in Hindi, English, Tamil, Telugu and Bengali — besides a high-definition channel (HD). With this, viewers on Hotstar will be able to watch the matches in their preferred language. Star India claims that via the six channels, along with Hotstar, the IPL will reach 700 million viewers this year. In 2017, 535 million viewers had watched the T20 tourney. “Over its 10-year journey, the IPL has grown into the sin- 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Source: Star India, BCCI annual report gle biggest property by far on Indian television. Now we will use the confluence of technology, consumer insight and experience in cricket coverage to broaden the outreach and experience even further.Also, of the total number of people who follow cricket in India (600-700million),only30millionhavehadachancetowatch amatchliveinastadium.Thus, with VR, we want to provide a experience of watching a live match sitting at home,” said SanjayGupta,MD,Star India. Continued on Page 11 Twitter THEUSGOVERNMENT officially ● Disinvestment target for fiscal crossed with this `36,915-cr boost Most areas in the country’s metros today are creaking under urban pressures. It’s perhaps time for responsible and pragmatic restoration of these areas Page 7 Mead is on the brink of breaking into the Indian market Page 8 Brands to advertise via mobile MEGHNA SHARMA Mumbai, January 20 LAST YEAR, MCANVAS had introduced an outstream video ad format called Streambox. Before that in 2016, Yahoo rolled out Tiles — a mobile advertising format in India. Clearly,withthegrowthofinternet penetration in a country that skipped the desktop revolution and went straight to mobile, mobile-specific advertising will be dominating the digital advertising space for years to come. “In the past two years, we haveseenIndiaamongstthetop countrieswhen it comes to digital Adex growth. The reason beingthegrowthinmobilesubscribers, smartphone users, rural mobile internet users and the growing mobile internet infrastructure,” says Lakshmi Narasimhan,chief growth officer,GroupM SouthAsia. As per the Dentsu Aegis Network Ad Spend Forecast Report 2017, mobile ad spend is set to account for 43.6% of the $1.1 billion digital ad spend market in India. Mobile is no longer a subset of digital, asitprovidesricherdatapoints regarding consumer intent, making targeting more relevant. In the years to come, 4G, cheap data and OTT platforms will change the game in the mobile ecosystem. Continued on Page 11 ON TUESDAY '50 SHADES OF MOBILE ADVERTISING' reported in a section of the media that an RBI officer has been apprehended by CISF for stealing printed currencyat the RBI printing facilityat Dewas. However, the Bank Note Press, Dewas, is a unit of the Security Printing and Minting Corporation of India,which is not under the control of the Reserve Bank of India, it said. Further,RBI“does not have any officialplaced”withBNP,Dewas, itsaid.“Thereports,thus,arenot based on facts. RBI regrets to notethatthefactswerenotverifiedbeforepublishingthenews reports,” it added. Continued on Page 11 shut down on Saturday for the first time in five years after the Senate rejected a short-term spendingbilltokeepthefederal government running,marking achaoticendtoDonaldTrump’s firstyearas president. The shutdown began at 12:01am(localtime)afterafew Republicans joined Democrats in blocking the crucial measure which would have provided short-termfundingforthePentagon and other federal agencies.TrumpblamedtheDemocrats for the shutdown, which comesexactlyayearafterhewas sworn in as the 45th President of the United States. “Dems want a shutdown in order to help diminish the great success ofthetaxcuts,andwhattheyare doing for our booming economy,” he said. Despitelast-minutebipartisanmeetings,thebilltofundthe government until February 16 did not receive the required 60 votes.TheSenatevoted50-48to blockthestopgapfundingmeasure.The short-term spending bill was passed by the House on Thursday. This is part of the Democrats’strategy to force President Donald Trump, US president @realDonaldTrump Democrats are far more concerned with Illegal Immigrants than they are with our great Military or Safety at our dangerous Southern Border. They could have easily made a deal but decided to play Shutdown politics instead. Trump and the Republicans to negotiate with them on illegal immigrants who are facing deportation. The effect of the shutdown would be felt most from Mondaywhen the federal government employees would not be able to join for work and be forced to stay at home without pay. Continued on Page 11
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