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‘The Monk and the Gun’ review: Bhutanese Oscar contender offers sly critique of Western influence

‘Lunana: A Yak in the Classroom’ director Pawo Choyning Dorji is back, using the first elections in one of the world’s youngest democracies to comment on what is lost as his country modernizes.

 

What would a monk want with a gun? Bringing wisdom and a streak of wry humor to his Bhutan-set sophomore feature, “The Monk and the Gun” director Pawo Choyning Dorji teases any number of possible answers to that question over the course of a droll, shrewdly satirical fable, in which Western values crash against a seemingly intransigent (but potentially more enlightened) South Asian culture.

 

A gifted storyteller who keeps audiences guessing about his characters’ motives until the surprising moment everything comes together, Dorji was born in Bhutan, but attended university in Wisconsin. That uncommon mix of influences gives him a unique perspective on both his home country and the way the sparsely populated, slow-to-modernize kingdom is perceived by the outside world (Bhutan was basically the last corner of the world to get internet access). The director’s natural human-interest sensibility earned devoted fans — and an unexpected Oscar nomination — for his appealing 2019 debut, “Lunana: A Yak in the Classroom.”

 

Now, Dorji delves into more complicated matters, setting his expansive follow-up in the year 2006, just as Bhutan was shifting to a democratic system. The movie, which is representing Bhutan at the Academy Awards, was clearly intended for export more than local play, kicking off what looks to be a healthy festival run at the Telluride and Toronto film festivals. The nascent-democracy angle proves especially fascinating (and not at all as you’d expect) for audiences in the United States, which has been touting the advantages of popular rule for a quarter millennium.

 

But are Americans any happier or better governed than the people shown here? They’re certainly better armed, which serves as a running joke in a movie where multiple characters are competing to get their hands on an antique firearm. The Bhutanese characters are bewildered by the prospect of elections (“Is that a new pig disease?” asks one), which their ruler has granted them without being forced by any kind of revolution. As such, the public must be instructed on how to vote, making for several amusing scenes in which neighbors who once got along are pitted against one another.

 

“Why are you teaching us to be so rude? This is not who we are,” objects one old woman at a rehearsal rally. No question Dorji is commenting on the increasingly polarized American political scene with that line. Most of these citizens seem content with their present circumstances, passing up offers of money and the chance to pick their own leader. The Bhutanese already have a king, after all, and in one of the film’s funniest gags, a color-coded mock election results in a landslide for the yellow candidate. Why? Because yellow is the color of His Royal Highness.

 

Not everyone is happy with the changes taking place in the country. The monk referenced in the film’s title (played by Tandin Wangchuk, who looks like a naive teenager, but is actually a relatively worldly rock singer) has a blissfully oblivious personality. He’s first seen strolling through photogenic golden fields, circling a stone stupa on his way to visit an elderly lama (real-deal lama Kelsang Choejey). Voicing his concerns about Bhutan’s turn from Buddhism to consumerist self-interest, the lama instructs his young assistant to fetch him two guns in time for the upcoming Full Moon ceremony.

 

Dorji deliberately leaves the old man’s intentions up to our imagination. (If this were an American movie, he’d be planning to shoot someone, but this being Bhutan, it’s anybody’s guess.) Guns aren’t easy to come by in a country where possessing one can get a person imprisoned for several years. But the monk isn’t alone in pursuing the only weapon anyone in these parts can think of — a rare rifle from the U.S. Civil War which has somehow wound up in this far-flung mountainous country between China and India. A short, shifty-looking American named Ronald Colman (Harry Einhorn) has his eye on the same gun.

 

English speakers will instantly detect something off about Einhorn’s performance. Physically, he’s a timid alternative to the boisterous Joe Don Baker type who so often embodies Americans abroad. Given Dorji’s satiric intentions, it’s intriguing that he preferred to represent the U.S. with such a hapless comical figure. Zoom out, and the film comes to represent a bigger-picture critique of how Western concepts — from mass-exporting toxic masculinity (via James Bond movies) to making “black water” (Coca-Cola) the global drink of choice — are corrupting life in this still-innocent outpost.

 

While the introduction of elections may be seen as an empowering step in Bhutan, Dorji acknowledges that it’s part of a larger shift away from a collective civic identity toward a more self-interested (American) mentality. Ronald offers the owner of the antique rifle a small fortune, and the man refuses, preferring to gift the gun to the young monk instead. Dorji takes his time laying out the various pieces of what proves to be an incredibly well-designed puzzle (a good example being a phallic wood carving, which gradually takes shape over several scenes).

 

Once the monk hands the weapon over to the lama, the film can finally reveal how this desperate leader intends to use it. Suddenly, everything that’s come before makes sense, as Dorji weaves the threads together for a humorous and hugely satisfying finale. Until this point, the film has shown how American culture has been shaping modern Bhutan, but in this moment, it’s made clear what the country can teach the rest of the world.

 

 

— Variety

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‘Davos 1917’ head writer Adrian Illien talks real-life inspirations behind Swiss spy drama: ‘Neutral Countries Were Hotspots for Espionage’

World War I spy drama “Davos 1917” was inspired by real stories, says head writer and creative producer Adrian Illien. As well as real women.

 

“There were all these Swiss nurses who would go abroad during the war. When you read their diaries, there is a sense of adventure. They could finally get away. I don’t think these female characters have been portrayed before. Until now.”

 

In the six-part show, unmarried nurse Johanna Gabathuler (“Sisi” star Dominique Devenport) gives birth to her daughter. When the child is taken away, Johanna finds herself stuck in the resort town of Davos. But soon, the German secret service comes knocking.

 

“Women actually held prominent positions there. With my co-writers [Julia Penner, Thomas Hess and Michael Sauter] we stumbled across one who was a handler of Mata Hari. We always talk about Mata Hari, but I found the spy behind her much more interesting,” he says.

 

World premiering at the Zurich Film Festival, “Davos 1917” was produced by Contrast Film, Letterbox Filmproduktion, Amalia Film, SRF and ARD Degeto. Global Screen handles sales.

 

Complex female relationships remain at the core of the show, with Johanna forced to join forces with a spying countess who quickly spots her potential (Jeanette Hain).

 

“When you think about spy stories, you always have mentors. Usually, it’s older guys teaching other guys or younger women, like in ‘Nikita.’ But you hardly ever see a woman mentoring another woman,” says Illien.

 

“We have one episode called ‘Women of War’ and we show that because so many men were away at that time, women could finally become leaders.”

 

Including his protagonist, who turns into “a rebel in a nurse uniform.”

 

“She is much more talented than most men give her credit for. That’s why she connects with the countess, because as manipulative as she is, at least she appreciates her.”

 

“They become close, but you never know if they are friends or enemies, or lovers. There is so much power in this ambiguity. We wanted to show that you can still respect someone, even if you don’t think alike.”

 

While the amount of research that went into the period-set show was “exciting and exhausting,” the writers allowed themselves some leeway.

 

“The way I approach period stories, not everything needs to be 100% accurate. But I have to know when it isn’t. We talk about spies, war and medicine, and surely enough we had all these experts on set. There are some boundaries you need to respect and if you deviate from them, you must have a good reason.”

 

As famously neutral Switzerland becomes a playground for spies and freedom fighters, tensions rise. Even in the idyllic Davos.

 

“All neutral countries were hotspots for espionage. We found out there were even espionage rings of nurses! Some of them were executed because of that. As the war went on, they even came up with these posters: ‘Beware of the female spies.’ Implying they might look innocent, but you shouldn’t trust them,” he says.

 

Although “Davos” – directed by Jan-Eric Mack, Anca Miruna Lăzărescu and Christian Theede – is SRF’s biggest series to date, set to make its debut in December, its budget wasn’t on Illien’s mind.

 

“From the story’s point of view, I don’t care. From the production’s point of view, sometimes you have more freedom when it’s not that expensive. Take ‘The Office,’ which didn’t cost much and is an absolute masterpiece,” he says.

 

 

“There is an additional pressure that comes with money sometimes. You think: ‘Okay, I guess we really need to blow something up.’ We knew these characters won’t be sitting around, that they will fight, because we are talking about spies. But as a writer, I just hoped we would have enough money to do this story justice.”

 

A return for the second season is still “in discussion.”

 

“I think there is potential for these relationships to continue, also because our show talks about what we are going through now. There are so many parallels between our reality and what was happening back in 1917,” he says.

 

“We have a war in Europe, people are questioning the establishment, we had COVID. In 1917, it was the Spanish Flu. We went from Wilson’s campaign slogan ‘America First’ to Trump. I really think it can resonate.”

 

 

Variety

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Israel attacks condemned by President Biden as TV news plans special reports: ‘Terrorism is never justified’ 

Hamas militants launched a surprise attack inside Israel Saturday, in which they fired thousands of rockets, sent dozens of fighters into Israeli towns near the Gaza Strip and kidnapped Israeli civilians and soldiers.

 

The attacks started on a religious holiday (Simchat Torah) weekend in Israel, and nearly 300 people have been killed, according to the New York Times.

 

President Joe Biden shared a statement regarding the attacks in Israel: “This morning, I spoke with Prime Minister Netanyahu about the horrific and ongoing attacks in Israel. The United States unequivocally condemns this appalling assault against Israel by Hamas terrorists from Gaza, and I made clear to Prime Minister Netanyahu that we stand ready to offer all appropriate means of support to the Government and people of Israel. Terrorism is never justified. Israel has a right to defend itself and its people. The United States warns against any other party hostile to Israel seeking advantage in this situation. My Administration’s support for Israel’s security is rock solid and unwavering.”

 

Vice President Kamala Harris posted a statement on X/Twitter, writing that Biden’s and her support for “Israel’s security is unwavering.”

 

 

NBC News broadcast a special report on the Hamas’s surprise attack at 6 a.m. ET, featuring “NBC News Now” anchor Joe Fryer and NBC News senior legal correspondent Laura Jarrett. They were joined by NBC News foreign correspondents Raf Sanchez and Richard Engel and foreign affairs correspondent Andrea Mitchell.

 

“We haven’t seen something like this, this level of sophistication, to catch the Israelis off guard and to keep this operation moving for hours now. This began at dawn, its is already afternoon in Israel. So, this has been going on for multiple hours now,” said Richard Engel, NBC News chief foreign correspondent, during Saturday’s special report.

 

“I think it’s very likely that we’re going to see an escalation in some sort of small-scale war, maybe bigger scale war, between Hamas and Israel. And I think we’re in the early phases of that right now.”

 

MSNBC announced the news channel will continue live, ongoing coverage of the latest develops in Israel, with Ayman Mohyeldin anchoring coverage live from New York starting at 8 p.m. ET. and José Díaz-Balart picking up coverage from 11 p.m. to 2 a.m.

 

Fox News Channel is also presenting continuous coverage of the developing conflict in Israel, with FNC’s foreign correspondent Trey Yingst reporting live from southern Israel. FNC’s chief political anchor and “Special Report’s” Bret Baier will contribute to live coverage throughout the day, while chief national security correspondent Jennifer Griffin will report from the Pentagon with correspondent Lucas Tomlinson reporting from the White House.

 

 

 

Variety

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Business International & World Lifestyle Technology

IDC says Google shipped 37.9M Pixel phones between 2016 and 2023, suggesting the company shipped a record ~10M phones over the last 12 months

Ben Schoon / 9to5Google:

 

 

—  Google Pixel is still a minor player in the global smartphone market, but the brand continues to move along.  As the Pixel 8 series launched this week, updated figures reveal that Google Pixel has shipped around 40 million phones so far, which is a pretty big leap in the last year alone.

 

According to IDC VP Francisco Jeronimo, Google Pixel has shipped 37.9 million phones between 2016 and 2023 – the entire lifecycle of the Pixel lineup thus far. Jeronimo notes that sales are growing in “double digits” in recent years.

 

While that’s not exactly a massive number – Apple, for instance, is estimated to ship over 224 million iPhones per year – it is steadily moving up. In 2018, Jeronimo pointed out that Google had doubled its shipments of Pixels in just the line’s first year, totaling just shy of four million units. By 2019, Google had picked things up, moving 7.2 million units during that year alone.

 

As of last year, Google was approaching the 30 million milestone, with 27.6 million units sold just before the launch of Pixel 7. Notably, that means Google managed to ship around 10 million Pixel phones over the course of the last 12 months. That’s potentiallythe best year for Pixel yet, as the previous record was the aforementioned 7.2 million units.

 

That figure doesn’t come as a massive surprise, as Google has been actively gaining traction in the US, as well as Japan over the last year. Earlier this year, a Q2 report showed that Google Pixel was gaining ground while every other Android player slipped downwards. In July, it was revealed that Japan is now Google’s biggest market for Pixel phones, and a later report showed how Pixel is actively taking market share from the iPhone in Japan. Google was also the only smartphone brand that didn’t see its shipments shrink year-over-year in North America.

 

https://x.com/fjeronimo/status/1709569702639333600?s=20

 

Read more at link:

IDC says Google shipped 37.9M Pixel phones between 2016 and 2023, suggesting the company shipped a record ~10M phones over the last 12 months

 

 

— Techmeme

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57th Annual NJ State Senior Citizens Art Exhibit opens

New Jersey’s Older Artists Showcase Excellence

 

EAST WINDSOR, N.J. – The public is invited to enjoy the 57th annual New Jersey Senior Citizens Art Show now on display in the hall galleries of the main building at Meadow Lakes Senior Living, 300 Meadow Lakes, East Windsor.

The exhibit, featuring more than 280 works of art created by New Jersey artists over the age of 60, will remain on display through Thursday, Oct. 26. Artists from 19 of New Jersey’s 21 counties have work on display in this year’s exhibit.

The exhibit, with artwork by professional and non-professional artists in 11 categories (acrylic, craft, digital imagery, mixed media, oil, pastels, photography, print, sculpture, watercolor, and works on paper), was juried by a three-person judges’ panel of professional artists who selected first-, second- and third-place winners and honorable mentions in each category. This year, exhibiting artists range in age from 60 to 93.

Edward Garvey’s (Atlantic County) oil painting, Lake Como Italy, was named Best in Show/ Non-Professional, and Joan Capaldo’s (Hunterdon County) watercolor painting, Homeward Bound, was selected as Best in Show/Professional.

The annual exhibit, a co-sponsored project of the New Jersey State Council on the Arts and Mercer County’s Division of Culture & Heritage, caps a year of county-based Senior Citizen Art Shows throughout the state.

All work on display represents first-place winners from the county shows. Work may also be viewed on the New Jersey Senior Citizens Art Show website at www.njseniorarts.com

The show is open to the public Mondays through Saturdays, 10 a.m. to 4 p.m. Groups of six or more are asked to contact Meadow Lakes in advance by calling 609-448-4100. For more information, contact Mercer County Division of Culture & Heritage, 609-278-2712 or JOttilie@mercercounty.org

The New Jersey Senior Citizens Art Show is a project of the New Jersey State Council on the Arts and the Mercer County Division of Culture and Heritage. It receives additional support from the County of Mercer, Meadow Lakes (a Springpoint Senior Living Community) and the New Jersey Association of Area Agencies on Aging.

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Art & Life Culture International & World Lifestyle

‘Instructions Not Included’ Monica Lozano boards ‘Cepeda,’ from ‘Caso 63’ Julio Rojas, ‘Allende’ Nicolas Acuña

Mexico’s Mónica Lozano, producer of Alejandro González Iñarritu’s “Amores Perros” and Eugenio Derbéz’s “Instructions Not Included,” has boarded “Cepeda,” an envelope-pushing Mexico-set procedural, turning on a Mexican cop who’s an Indigenous woman and great at her job.

 

Development over the last two years has been financed by Acuña’s Chile-based Promocine. Put back, however, by the pandemic, the project is now set up at Lozano’s Mexico City production house Alebrije Producciones, one of Mexico’s most active forces in international production, behind Carlos Carrera’s Quirino Award winner “Ana y Bruno” and Fox’s “Run Coyote Run.”

 

“Cepeda” is written by Chile’s Julio Rojas, who has shot to global fame as creator of Podcast phenom “Caso 63.” Rojas also served as story editor on Lucía Puenzo’s “La Jauría,” and writer on Pablo Fendrik’s “El Refugio” and Matías Bize’s “The Life of Fish,” selected by Variety in 2020 as one of the 10 best foreign films in the last decade still without U.S. distribution.

 

The boundary-breaking series will be directed by Chile-based Nicolás Acuña, a key figure in the build of Latin American premium TV drama and director of “Allende, The Thousand Days,” which made a splash last week at San Sebastián, He was also the creator of the pioneering series “Besieged” and producer-director of big budget “Inés of My Soul,” backed by Spain’s RTVE and Prime Video.

 

“Cepeda” begins with the discovery of a dead woman worker at an all powerful multinational mining corporation in Mexico.

 

A police detective in homicides, specialising in femicides, Cepeda is given the case and ends up pitted against the mining giant. Much of the series turns, however, on the contrary character of Cepeda herself, Acuña said at Iberseries & Platino Industria, where he will present “Allende.”

 

“She’s pretty butch: People assume she’s a lesbian, but she isn’t. She loves to dance, thought to be liberal, but has more conservative values. She has a problem with alcohol and loneliness, but is one hell of a good cop,” he explained.

 

“The project has an attractive team and it’s a subject which is so deeply painful,” said Lozano. “So many woman are looking for their daughters or sisters who have disappeared and saying: ‘Enough!’ We can’t go on. We have to change this reality and one way to do so is to visualise it.”

 

Bowing recently on TVN, Chile’s public broadcaster, “Allende, The Thousand Days” punched the best ratings of the day on the channel for each of its four episodes. It will screen soon on RTVE, which has acquired Spanish rights.

 

A Chile-Spain-Argentina co-production, “Allende” is lead produced by Chile’s Parox, with its co-head Leonora González serving as showrunner. Spain’s Mediterráneo Media Entertainment and Argentina’s Aleph, Mente Colectiva and HD Argentina co-produce. Sold by Onza Distribution, the fiction series stars the “reliably superb” Alfredo Castro, as Variety describes him – though hidden under heavy prosthetics – as Allende after he won general elections, becoming Chile’s first socialist president.

 

“The series describes intimate details of Allende which generally aren’t well known, plumbing the humanity of a person who is often just a face. It explore what’s behind the figure, bringing out, for example, his large sense of humor,” said Acuña. “Pinochet made Allende laugh, for example. Allende didn’t believe he would attack the presidential palace,” he added.

 

 

Variety (EXCLUSIVE)

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Dept. of Labor awards $5M to train, expand pathways for women in registered apprenticeships, nontraditional occupations

Largest awards of WANTO grants target underrepresentation of women in high-wage industries

 

WASHINGTON  The U.S. Department of Labor today announced the award of $5 million to organizations in seven states to increase the numbers of women in Registered Apprenticeship programs and help connect them with good-paying careers in nontraditional occupations where the Biden-Harris administration’s historic infrastructure, manufacturing and clean energy investments are creating sharp job increases.

 

The announcement of the Women in Apprenticeship and Nontraditional Occupations grants was made at AFL-CIO headquarters in Washington. Department leaders joined AFL-CIO President Liz Shuler to showcase the work of the labor organization’s Working for America Institute in Birmingham, Alabama. The institute received a $713,892 grant to support its pre-apprenticeship program’s effort to recruit women of color in the region.

 

“To fulfill the promise of President Biden’s Investing in America agenda and to rebuild the nation’s economy from the middle out and the bottom up, we can’t afford to leave any talent untapped,” said Acting Secretary of Labor Julie Su. “Today, we announced grants that will support organizations that are training women for good-paying jobs — including union jobs — while ensuring an equitable workforce development system that helps to provide a talent pipeline for employers in critical sectors.”

 

This is the department’s largest award of WANTO grants, a 47 percent increase from 2022.

 

“Women make up nearly half of the nation’s workforce but remain vastly underrepresented in industries like construction, which needs more skilled workers needed to fill these high-paying jobs,” said Women’s Bureau Director Wendy Chun-Hoon. “The Women in Apprenticeship and Nontraditional Occupations program prepares women for promising careers and provides the technical assistance to employers and unions to recruit and retain more women effectively.”

 

The WANTO program seeks to increase employment of women in apprenticeships and nontraditional occupations by supporting community-based organizations that develop pre-apprenticeship programs to help women succeed in industries where they are typically underrepresented. These industries include construction, advanced manufacturing, energy, technology and transportation. A portion of the grants awarded can be used to provide participants with support services such as child care, transportation, tuition and work-related gear.

 

Administered by the department’s Women’s Bureau and Employment and Training Administration, the 2023 WANTO grants will fund training programs in Alabama, Mississippi, North Carolina, Ohio, Rhode Island, Texas and Washington state. The WANTO grant recipients are as follows:

 

Recipient – AFL-CIO Working for America Institute

City – Birmingham

State – AL

Award – $713,892

 

Recipient Moore Community House

City – Biloxi

State – MS

Award – $714,518

 

Recipient – Hope Renovations

City – Chapel Hill

State – NC

Award – $713,518

 

Recipient – Vincentian Ohio Action Network

City – Columbus

State – OH

Award – $714,518

 

Recipient – Rhode Island Women in the Trades

City – Providence

State – RI

Award – $714,518

 

Recipient – SER-Jobs for Progress of the Texas Gulf Coast Inc.

City – Houston

State – TX

Award – $714,518

 

Recipient – Ada Developers Academy

City – Seattle

State – WA

Award – $714,518

 

Agency
Women’s Bureau
Date
September 28, 2023
Release Number
23-2083-NAT
Media Contact: Grace Hagerty
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Sony researchers: skin tone measures adopted by Google, Meta, and others for their image algorithms don’t properly capture the red and yellow hues in human skin

—  Google, Meta, and others test their algorithms for bias using standardized skin tone scales. Sony says those tools ignore the yellow and red hues at work in human skin color.

 

Paresh Dave / Wired:

 

 

After evidence surfaced in 2018 that leading face-analysis algorithms were less accurate for people with darker skin, companies including Google and Meta adopted measures of skin tone to test the effectiveness of their AI software.

 

New research from Sony suggests that those tests are blind to a crucial aspect of the diversity of human skin color.

 

By expressing skin tone using only a sliding scale from lightest to darkest or white to black, today’s common measures ignore the contribution of yellow and red hues to the range of human skin, according to Sony researchers. They found that generative AI systems, image-cropping algorithms, and photo analysis tools all struggle with yellower skin in particular. The same weakness could apply to a variety of technologies whose accuracy is proven to be affected by skin color, such as AI software for face recognition, body tracking, and deepfake detection, or gadgets like heart rate monitors and motion detectors.

 

“If products are just being evaluated in this very one-dimensional way, there’s plenty of biases that will go undetected and unmitigated,” says Alice Xiang, lead research scientist and global head of AI Ethics at Sony. “Our hope is that the work that we’re doing here can help replace some of the existing skin tone scales that really just focus on light versus dark.”

 

But not everyone is so sure that existing options are insufficient for grading AI systems. Ellis Monk, a Harvard University sociologist, says a palette of 10 skin tones offering light to dark options that he introduced alongside Google last year isn’t unidimensional.

 

“I must admit being a bit puzzled by the claim that prior research in this area ignored undertones and hue,” says Monk, whose Monk Skin Tone scale Google makes available for others to use.

 

“Research was dedicated to deciding which undertones to prioritize along the scale and at which points.”

 

He chose the 10 skin tones on his scale based on his own studies of colorism and after consulting with other experts and people from underrepresented communities.

 

X. Eyeé, CEO of AI ethics consultancy Malo Santo and who previously founded Google’s skin tone research team, says the Monk scale was never intended as a final solution and calls Sony’s work important progress. But Eyeé also cautions that camera positioning affects the CIELAB color values in an image, one of several issues that make the standard a potentially unreliable reference point.

 

“Before we turn on skin hue measurement in real-world AI algorithms—like camera filters and video conferencing—more work to ensure consistent measurement is needed,” Eyeé says.

 

Read more at links:

Sony researchers: skin tone measures adopted by Google, Meta, and others for their image algorithms don’t properly capture the red and yellow hues in human skin

https://www.wired.com/story/ai-algorithms-are-biased-against-skin-with-yellow-hues/

 

 

Techmeme

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Business Economics International & World Lifestyle Technology

Bengaluru-based fintech Slice, which was valued at $1.5B in 2022, secures a rare approval from India’s central bank to merge with North East Small Finance Bank

Manish Singh / TechCrunch:

 

 

—  Indian unicorn fintech Slice is merging with North East Small Finance Bank, they said Wednesday after receiving the approval from the central bank, in an extremely rare feat that has eluded many tech giants, top financial startups and tycoons for decades.

 

Slice — which earlier offered credit card–like cards and at peak issued over 400,000 cards in a month, more than any other fintech or bank — said the merger with the Guwahati-headquartered bank will allow the combined entity to better serve their shared mission and reach more consumers who currently lack access to basic banking services.

 

The merger, which follows Slice earlier acquiring a 10% stake in the lender in recent quarters, should also enable the new entity to supercharge its product offerings and accelerate its product iterations, industry executives said.

The Reserve Bank of India clarified a range of guidelines last year that impacted scores of startups, including Slice, rival Uni, neobanks Jupiter and Fi, making sweeping changes that challenged how many firms issued cards.

 

Slice founder and chief executive Rajan Bajaj said the startup has been working with North East Small Finance Bank for 12 months, a timeframe that allowed the board members, investors and management to know each other and see a shared vision.

 

“We’re grateful to the RBI for entrusting us with this immense responsibility,” he said in a prepared statement. “At Slice, our unyielding devotion to customers and robust risk management have set us apart. This approach allows us to serve a wider audience, including those often overlooked, while also building a deep emotional connection with our customers.”

 

Slice, which counts Tiger Global, Insight Partners, Blume Ventures and EMVC among its backers, was valued at about $1.5 billion in its previous funding round last year. Its first investment in North East Small Finance bank last year valued the lender at about $68 million.

At least two investors are already in talks to invest in the merged entity, committing about $125 million between them, according to another person familiar with the matter. Bajaj declined to comment beyond confirming the merger news.

 

“The union of Slice and NESFB is a defining moment in India’s fintech journey,” said Vikram Chachra, general partner at 8i Ventures, an early backer of Slice, in a statement. “It heralds a digital first banking revolution at a grassroots level for India’s 600 million smartphone population.”

 

North East Small Finance Bank, incorporated in 2016, is a subsidiary of RGVN (NE) Microfinance that serves customers in the northeastern region of the country. It counts Pi Ventures, Bajaj Group and government-backed SIDBI Venture Capital among its backers.

 

India, the world’s most populous nation, is undergoing a pivotal banking phase, with banks and fintech startups forging a variety of tie-ups. Federal Bank and SBM Bank India have increasingly engaged startups to boost their businesses in recent years, and larger banks like HDFC, ICICI and Axis are also embracing the idea.

VCs are increasingly focusing on investing in banks. Accel and Quona last year backed Shivalik Small Finance Bank.

 

Merging with a bank or obtaining a banking license continues to be rare in the South Asian market, especially as the regulator has heightened its oversight in recent quarters, even for minor licenses like those for NBFCs and expressed concern about tech giants’ growing presence in the financial services sector. (Slice has held an NBFC license for about five years).

 

The central bank has largely rejected all applications for universal banks in recent years. Last year, it rejected an application by Flipkart billionaire Sachin Bansal. Bansal’s Navi eventually sold the microfinancing unit to Svatantra Microfin in August for about $178.5 million.

 

In 2021, the central bank issued a small finance bank license to a consortium of Centrum Financial Services and fintech BharatPe. But that license was conceptualized to address a capital-starved situation to help remove the debris of a scam-tainted small lender PMC.

 

In contrast, the capital adequacy ratio of the Slice–North East bank is multiple-fold higher than the 15% mandated by the central bank. Slice’s current annualized revenue is a little over $100 million, according to a person familiar with the matter.

 

“This alliance with Slice marks an exciting expansion of our reach and enhancement of our services. Dedicated to supporting the underserved, our collaboration is bolstered by Slice’s innovative technology and a keen emphasis on customer experience,” said Rupali Kalita, managing director and chief executive of NESFB, in a prepared statement.

 

“Meanwhile, we will continue to fortify the bank governance, with continuous improvements in compliance, risk management, and leadership. Together, we strive to deliver accessible and exceptional services, fostering inclusive and responsible banking for all.”

 

 

Techmeme

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Marco Chimenz to step down as Cattleya Co-CEO to join Federation Studios as group co-managing director

Marco Chimenz, Co-CEO of Italy’s Cattleya the prominent ITV-owned outfit behind “Gomorrah” and  “ZeroZeroZero,” will be leaving the company in January to join pan-European powerhouse Federation Studios.

 

At Federation Chimenz will serve as group co-managing director of the expanding production and distribution studio that currently comprises 35 production companies, working closely with founder and CEO Pascal Breton and Federation co-director Lionel Uzan.

 

Founded in 2013, Federation is a production, financing and distribution studio with subsidiaries and associate production companies based in Paris, Los Angeles, Rome, Madrid, Berlin, Cologne, London, Brussels and Tel Aviv. The group’s best-known titles include “The Bureau,” “In Treatment,” “Baby,” “Hostages,” “Marseille,” “Bad Banks,” “Your Honor,” and “Around the World in 80 Days.”

 

Chimenz will continue to work with Cattleya’s Spanish affiliate on several productions until 2025. He will also continue to operate with longtime collaborator Joshua Berman, who is currently head of business affairs at Cattleya. Berman in January 2024 will become Federation’s international business advisor.

 

Chimenz, who is a former president of the European Producers Club, has been a partner at Cattleya for more than 20 years working with its founder Riccardo Tozzi and finance chief Giovanni Stabilini as they grew the company to become Italy’s top indie while veering from film towards TV. They’ve shepherded high-end hit shows such as “Gomorrah,” which is Italy’s top TV export, “ZeroZeroZero” and more recently “Django.” Chimenz’s duties at Cattleya in Italy and at its Spanish affiliate, Cattleya Producciones, consist of overall strategy, internal and external growth and management of business affairs.

 

“European sales companies are once again playing a big role in giving value to European product with agreements that are a bit more creative, now that some streamers are becoming more flexible due to the fact that they need to contain costs,” Chimez told Variety, noting that streamers are now more “open to agreements with different territorial configurations.”

 

“This brings back to the forefront executives who know how to navigate these types of territorial configurations. So I am glad to be working with Federation to create the conditions for international co-productions, which is what I’m specialised in,” he added.

 

I am so enthusiastic about joining Pascal and Lionel, two producers and entrepreneurs that I have known for years and for whom I have the highest esteem as they lead a brilliant group with such a strong international drive,” Chimenz also stated.

 

“Naturally, having worked with Riccardo Tozzi and Giovanni Stabilini for over half my life, moving on from Cattleya and its formidable team feels like leaving family.  I am deeply thankful to all of them for the adventure of a lifetime, as I am to Julian Bellamy, Lisa Perrin, Duncan Walker and the group of great executives at ITV Studios.”

 

Breton said in a statement that “welcoming Marco, one of Europe’s most talented and appreciated producers, can only strengthen Federation’s knowledge and expertise in the areas of pre-financing, co-production and sales of movies and show” Breton added that the company’s “goal remains the same: to attract the best producers, show runners and directors in the business.”

 

Tozzi, meanwhile, said Cattleya “shared a splendid adventure with our friend Marco for over twenty years.” “We wish him great success in his new venture. We know that he will do wonderful things with Federation while all that he has given to Cattleya will be left with us and the entire team trained by him and Josh, to whom we also wish all the best,” he added.

 

 

 

Variety (EXCLUSIVE)