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Indiana Jones 5 : Harrison Ford returns with big ‘Temple of Doom’ energy

Roshan Bilung
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Indiana Jones 5 : Harrison Ford returns with big ‘Temple of Doom’ energy

Indiana JonesIndiana Jones 5 : Harrison Ford returns with big ‘Temple of Doom’ energy

Indiana Jones and the Dial of Destiny opens exclusively in theaters June 30.

DT ENTERTAINMENT–  One of life’s simplest pleasures is watching Harrison Ford punch out Nazis.

It was true in 1981 with Raiders of the Lost Ark, and it’s just as true now with the series’ fifth installment, Indiana Jones and the Dial of Destiny. 42 years later, the best bits of Ford as Indy are charmingly timeless — even with some controversial modern innovations. But how does the rest of this polarizing sequel stack up?

Out of the film’s world premiere at the Cannes International Film Festival, the buzz was mixed to bad. Rumbles of displeasure arose over the opening sequence, in which the 80-year-old actor is made to look decades younger using CGI. Some critics lamented that this rollicking franchise had gone off the rails without the guidance of Steven Spielberg, who’d helmed the first four films — including the controversial 2008 offering, Indiana Jones and the Temple of the Crystal Skull.

READ MORE : Foo Fighters UK Tour 2024: how to get tickets, presale, potential setlist and full list of stadium dates

Still, I was hopeful as I walked into the press screening for Indy 5. Ford was back in the fedora, this time with brazenly witty Phoebe Waller-Bridge by his side as a sure-to-rile dame of adventure. Mads Mikkelsen, who’s made a career out of playing complicated anti-heroes and downright chilling baddies, is on board to antagonize.

Sure, Spielberg was out, but director James Mangold brought us the glory of Logan, an action movie whose gruff but lovable hero doesn’t feel so different from an archaeologist who leaps from libraries to sacrificial volcanoes in a single act. Also, I had it on good authority that Harrison Ford punches Nazis in this.

I’m pleased to report that Indiana Jones and the Dial of Destiny is a wondrous return to form for this franchise, as well as a wildly entertaining film fit for the whole family. Plus, he totally punches Nazis.

What’s Indiana Jones and the Dial of Destiny about? 

The movie begins with a cold open set in the end days of World War II, where Indy (a digitally de-aged Ford) is racing through a train FULL OF NAZIS to recover priceless artifacts from the greedy, careless clutches of Hitler’s regime. During his high-octane escape, he not only makes a new enemy in a Nazi physicist (Mikkelsen, naturally), but he also comes across half of Archimedes’ dial, an ancient device believed to be able to predict future calamity.

Cut to decades later, and Indy is not racing much of anywhere anymore. He’s snoring in his underwear in a cluttered Manhattan apartment in the 1960s. His next great action will be grousing at the damned youths who are blasting music nearby, celebrating “Moon Day,” as American astronauts return to the Earth. This Indy is old and bitter, and he wants you off his lawn.

Though he married Marion (Karen Allen) at the end of Crystal Skull, she’s nowhere to be seen in the first act. Indy’s days as a professor seem to be coming to an inauspicious end. No more do students clamor for his attention or flutter their eyes with secret messages of love. They sleep. They stare blankly. Maybe it’s best he’s retiring? But before he can hang up his hat, his long-estranged goddaughter Helena (Waller-Bridge) saunters into his classroom, bringing with her a squad of enemies, including government agents and a familiar foe who’s become a friend to America through his aid to the space program. (Wink wink.)

Of course, now Indy must race to recover the rest of the dial before it falls into the wrong hands.

Dial of Destiny has big Temple of Doom energy. 

Yes, yes, some Indy fans loathe that third film, which swapped the headstrong Marion for the hysterical showgirl Willie (the hilarious Kate Capshaw) and gave Indy a wise-cracking child sidekick in Short Round (Oscar-winner Ke Huy Quan). Personally, I liked the sharp contrast between Indy and the glamor girl, spiked with their grousing banter. I appreciated the pluck of the boy adventurer and was in awe of the shocking spectacle of every bit. And Dial of Destiny gives us a refreshed version of the dynamic, minus its most problematic elements — like the xenophobic cringe at other cultures and the titular hero’s arguably misogynistic energy toward his supposed love interest. Plus, parents may be pleased to learn there’s nothing here on par with the body horror of past installments.

Screenwriters Jez Butterworth, John-Henry Butterworth, David Koepp, and James Mangold smartly adjust, considering changing attitudes toward gender dynamics. Helena is not a May-December romantic interest but almost a rival; she pushes back on Indy while searching for the mighty McGuffin toward her own end. She quips, he bristles. It’s enthralling.

Harrison Ford is as good as ever as Indiana Jones. 

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Credit: Lucasfilm Ltd. & TM

For what it’s worth, the CGI version of younger Ford wasn’t jarring to me. Occasionally, a bit of lighting fell strangely across his face, but it was never that distracting. This franchise was built on special effects that pushed the boundaries, from melting skulls to hearts plucked from chests. A romanticization of practical over visual effects might account for the derision towards the opening scene, but behind the CGI wizardry, it’s still Harrison Ford. And he’s still punching Nazis!

It’s fun to see Ford back in action in this old-school mode. However, the ’60s-set sequences unlock an exhilarating new layer to the character. Indy is not invincible. He is older, slower, and harsher than before. Ford and Mangold show us a hero who fears the world has moved past him. And perhaps they’re asking us if we relate. While everyone else is looking to the future and to space, Indy is looking back to the past. But in Helena and Teddy, might he rediscover the present?

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Source : mashable

Failed Wagner revolt leaves a question in Africa: Will the ruthless mercenaries remain?

Mark Kenya
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Failed Wagner revolt leaves a question in Africa: Will the ruthless mercenaries remain?

Failed Wagner revolt leaves a question in Africa: Will the ruthless mercenaries remain?

BIRAO, Central African Republic (AP) — The Russian mercenary group that briefly threatened President Vladimir Putin’s authority has for years been a ruthless force-for-hire across Africa, protecting rulers at the expense of the masses. That dynamic is not expected to change now that the group’s founder, Yevgeny Prigozhin, has been exiled to Belarus as punishment for the failed rebellion.

The Wagner Group brutalizes civilians in the Central African Republic, Mali and elsewhere to crush dissent and fend off threats to their leaders’ power. In exchange, Russia gains access to natural resources and ports through which weapons can be shipped, and receives payments that enrich the Kremlin and help it fund operations elsewhere, including the war in Ukraine.

READ MORE : Wagner Group’s Revolt in Russia Ends After Deal Struck. What is International Response

Neither Russia nor the African leaders dependent on Wagner’s fighters have any interest in ending those relationships. But many questions linger in the aftermath of Wagner’s stunning revolt, such as who will lead its thousands of fighters stationed across many African nations and whether Moscow will absorb these fighters into the Russian army.

“The situation is extremely volatile,” said Nathalia Dukhan, senior investigator at The Sentry, a U.S.-based policy organization that published an investigative report Tuesday accusing Wagner of carrying out various human-rights abuses in African countries. “But what we have learnt from investigating and analyzing Wagner in Africa in the past 5 years is that the group is resilient, creative, fearless and predatory, so it is less likely that the Wagner empire will instantly fall like a house of cards.”

Beyond the financial rewards, Putin has also sought to use Wagner fighters to help expand Russia’s presence in the Middle East and Africa. He seeks out security alliances with autocrats, coup leaders, and others who have been spurned or neglected by the U.S. and Europe, either because of their bloody abuses or because of competing Western strategic interests.

Asked whether Wagner’s weekend mutiny could erode Russia’s positions in Africa, Russian Foreign Minister Sergey Lavrov told a state-run TV network that security assistance to African countries would continue. He specifically mentioned the Central African Republic and Mali, and noted that Russian government officials have maintained contact with leaders there.

Lavrov told RT he has not seen “any sign of panic or any sign of change” in African nations over the revolt against Moscow. But amid the uncertainty, there is at the very least some confusion about what exactly comes next.

In Mali, where at least 1,000 Wagner fighters replaced French troops brought in to fight Islamic extremists, the U.S. alleges that the Kremlin uses the country as a way-station for arms shipments to Russian forces in Ukraine. But the Malian government has denied using Wagner for any purpose other than training.

An officer in the Malian Air Force who spoke on condition of anonymity because he was unauthorized to comment publicly said Russian fighters play an important combat role.

Still, some experts said the revolt against the Kremlin will force African countries reliant on Wagner to pay closer attention to how they engage with Russia, where Putin faces the gravest threat to his authority since coming to power more than two decades ago.

“Developments in Russia will likely render many African countries more cautious in their engagement with Russia moving forward,,” said Ryan Cummings, director of Africa-focused security consulting company Signal Risk.

Any unexpected turn of events domestically in Russia poses potential threats to African leaders who have become dependent on its foreign fighters to stay in power, such as those in Mali and the Central African Republic.

“Any withdrawal could readily be exploited by non-state groups challenging the authority of the government in these countries,” said Cummings.

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Asadu reported from Abuja, Nigeria. Irwin reported from Dakar, Senegal.

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Ukraine accuses a local man of directing a missile strike that killed 11 at a pizza restaurant

Shasi Kumar
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Ukraine accuses a local man of directing a missile strike that killed 11 at a pizza restaurant

Ukraine accuses a local man of directing a missile strike that killed 11 at a pizza restaurant

KYIV, Ukraine (AP) — Ukrainian authorities on Wednesday arrested a man they accused of helping Russia direct a missile strike that killed at least 11 people, including three teenagers, at a popular pizza restaurant in eastern Ukraine.

The Tuesday evening attack on Kramatorsk wounded 61 other people, Ukraine’s National Police said. It was the latest bombardment of a Ukrainian city, a tactic Russia has used heavily in the 16-month-old war.

The strike, and others across Ukraine late Tuesday and early Wednesday, indicated that the Kremlin is not easing its aerial onslaught, despite political and military turmoil at home after a short-lived armed uprising in Russia last weekend.

READ MORE : Vladimir Putin : Prigozhin to be investigated after being paid $2 billion in a year

There has been no apparent military push by Ukraine to exploit that turmoil, though the government has been tight-lipped about recent battlefield developments as it seeks to gain momentum in its recently launched counteroffensive.

The Kremlin reeled from the weekend mutiny led by Yevgeny Prigozhin, owner of the Wagner private army of prison recruits and other mercenaries. Wagner has played a key combat role for Russia in Ukraine. The rebellion posed the most serious threat so far to Russian President Vladimir Putin’s grip on power.

Prigozhin went into exile in neighboring Belarus on Tuesday, according to Belarus President Alexander Lukashenko, after Russia said he wouldn’t face charges for the revolt. Prigozhin’s whereabouts could not be independently confirmed.

Lukashenko has said his country would allow Wagner to set up a temporary camp in Belarus, but it remained unclear how many mercenaries would move there.

Wagner’s impending deployment to Belarus has rattled its neighbors. Jaroslaw Kaczynski, the leader of Poland’s ruling party, announced plans to strengthen the country’s eastern border, saying about 8,000 Wagner troops are expected to arrive in Belarus.

And Lithuanian Foreign Minister Gabrielius Landsbergis noted Tuesday that the mutiny “shows how fast detachments from within Russia mobilize and move within its territory,” underlining “a more volatile, more unpredictable environment for our region.”

Ukrainian President Volodymyr Zelenskyy played down concerns that Wagner would pose a threat from Belarus. He said the group’s mercenaries probably wouldn’t arrive there in significant numbers, and added that Ukraine’s military believes the security situation along its Belarusian border will remain “unchanged and controllable.”

U.S. President Joe Biden said Wednesday that the unrest had weakened Putin, though he added that it’s “hard to tell” to what extent.

“He’s clearly losing the war in (Ukraine),” Biden said of Putin before departing Washington for Chicago. “He’s losing the war at home and he has become a bit of a pariah around the world.”

In Kramatorsk, two sisters, both age 14, died in the attack, the city council’s educational department said. “Russian missiles stopped the beating of the hearts of two angels,” it said in a Telegram post.

The other dead teenager was 17, according to Prosecutor General Andrii Kostin.

The attack also damaged 18 multistory buildings, 65 houses, five schools, two kindergartens, a shopping center, an administrative building and a recreational building, regional Governor Pavlo Kyrylenko said.

Rescuers were still searching the rubble for bodies and more survivors in a city where last year, about six weeks after the start of war, 52 civilians were killed in a Russian missile strike on a train station.

Officials initially blamed Tuesday’s strike in Kramatorsk on an S-300 missile, a surface-to-air weapon that Russia’s forces have repurposed for loosely targeted strikes on cities, but the National Police later said Iskander short-range ballistic missiles were used.

Kramatorsk is a front-line city that houses the Ukrainian army’s regional headquarters. The pizza restaurant was frequented by journalists, aid workers and soldiers, as well as local residents.

The Security Service of Ukraine said the man it detained, an employee of a gas transportation company, is suspected of filming the restaurant for the Russians and informing them about its popularity.

Pope Francis’ peace envoy, Italian Cardinal Matteo Zuppi, was to meet with an aide to Putin, Yury Ushakov, in Moscow on Wednesday. Kremlin spokesperson Dmitry Peskov said the talks would include “possible ways of political-diplomatic settlement.”

Francis dispatched Zuppi, a veteran of the Catholic Church’s peace initiatives, to Moscow in hopes of helping spur peace negotiations after his visit to Kyiv earlier this month. At the Vatican on Wednesday, Francis again appealed for an end to the war, praying that Ukrainians “may soon find peace: There is so much suffering in Ukraine, let us not forget that.”

___
Associated Press writer Yuras Karmanau in Tallinn, Estonia, Edith M. Lederer in New York and Vanessa Gera in Warsaw contributed to this report.

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German foreign minister poses challenge to South Africa over its position on Russian war effort

Mark Kenya
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German foreign minister poses challenge to South Africa over its position on Russian war effort

German foreign minister poses challenge to South Africa over its position on Russian war effort

JOHANNESBURG (AP) — Germany’s foreign minister on Tuesday called for Russia “to stop the bombing” of Ukraine, a pointed message during a visit to South Africa as it draws accusations of aiding Moscow’s war effort.

Annalena Baerbock’s challenge came during a one-day visit to Pretoria that had been framed largely as focused on energy and climate issues.

But South Africa’s position on the war in Ukraine has been under close scrutiny since U.S. Ambassador Reuben Brigety alleged that South Africa secretly loaded weapons onto a Russian ship that docked at a naval base near Cape Town in December.

READ MORE : “Putin is not a war criminal”: Prime Minister of Hungary Viktor Orban made a wonder statement

Those allegations sparked serious concerns among South Africa’s Western allies over its position on the war. U.S. lawmakers have even called for some kind of punishment for Africa’s most-developed economy for what they view as its pro-Russian stance.

The South African government says it is neutral in the war in Ukraine and denies that an arms shipment was sent to Russia. But South African President Cyril Ramaphosa has ordered an investigation into the visit last year of the Lady R Russian cargo ship, which is under U.S. sanctions for allegedly transporting weapons for the Russian government.

Baerbock didn’t directly refer to the weapons allegations when making comments alongside South African Foreign Minister Naledi Pandor ahead of their meeting Tuesday. But she said that the rising food and oil prices that are sparking hardship across the African continent were the result of Russia’s illegal invasion of Ukraine.

“For this suffering to end, the war must end,” Baerbock said. “For the war to end, Russia must stop the bombing and withdraw its soldiers. This war is an attack on the U.N. charter, on the very rules that bind and protects us all.”

Pandor referred to the “very substantial” relationship between South Africa and Germany. Germany is South Africa’s third biggest trade partner behind China and the U.S.

“South Africa and Germany share many common values on matters of peace and security, human rights, climate change, sustainability and economic development,” Pandor said.

South Africa has scrambled to protect its international reputation and its relationships with Western partners following Brigety’s accusations in May.

The country also faces possible diplomatic peril in August that might further strain relationships with the West when it hosts a summit of the BRICS bloc of emerging economies that is made up of Brazil, Russia, India, China and South Africa.

South Africa has invited Russian President Vladimir Putin to attend the summit even though he is the subject of an arrest warrant from the International Criminal Court for alleged war crimes over the abduction of children from Ukraine.

South Africa is a signatory to the ICC treaty and is obliged to arrest Putin should he set foot on the country’s territory, but has not committed to doing that.

A top official with South Africa’s ruling ANC party has said it would “welcome” Putin.

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“Putin is not a war criminal”: Prime Minister of Hungary Viktor Orban made a wonder statement

Marietta Reformado
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“Putin is not a war criminal”: Prime Minister of Hungary Viktor Orban made a wonder statement

“Putin is not a war criminal”: Prime Minister of Hungary Viktor Orban made a wonder statement

Russian resident Vladimir Putin is not a war criminal, and Ukraine can no longer be considered a sovereign state.

This was stated by the Prime Minister of Hungary Viktor Orban in an interview with the German newspaper Bild

The head of the government of Hungary did not answer the question whether Vladimir Putin would be arrested if he visited the country in accordance with the warrant of the International Criminal Court.

“Putin is not planning to come to Hungary yet, so we can talk about it only hypothetically,” Orban said, clarifying that for him the Russian dictator “is not a war criminal.”

At the same time, he continues to insist on an urgent truce.

“If we want a truce and negotiations, we have to convince the parties to the conflict to sit down at the table. And telling them, ‘go, sit down, we will arrest you,’ would not be very good. Therefore, we can talk about these legal and criminal consequences only after making peace. It’s absolutely pointless to talk about it now,” he added.

Orban also stated that he considers it impossible for Ukraine to win this war, because “Ukraine will run out of soldiers faster than Russia.” And in general, the head of the Hungarian government noted that “Ukraine can no longer be considered a sovereign state.”

“What really matters is what the American people want. Ukraine is no longer a sovereign state. They have no money. They have no weapons. They can only fight because the West supports them. So if the Americans decide they want peace, then peace will be,” said Orbán.

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Vladimir Putin : Prigozhin to be investigated after being paid $2 billion in a year

Shasi Kumar
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Vladimir Putin : Prigozhin to be investigated after being paid billion in a year

Prigozhin to be investigated after being paid $2 billion in a year – Putin

MOSCOW,(Reuters) – President Vladimir Putin said on Tuesday that the finances of Wagner mercenary chief Yevgeny Prigozhin’s catering firm would be investigated after his mutiny, saying Wagner and its founder had received almost $2 billion from Russia in the past year.

Putin initially vowed to crush the mutiny, comparing it to the wartime turmoil that ushered in the revolutions of 1917 and then a civil war, but hours later a deal was clinched to allow Prigozhin and some of his fighters to go to Belarus.

READ MORE : Wagner Group’s Revolt in Russia Ends After Deal Struck. What is International Response

Speaking to soldiers from the Russian army at a meeting in the Kremlin, Putin said he had always respected Wagner’s fighters, but that the fact was the group had been “fully financed” from the state budget.

He said it had received 86 billion roubles ($1 billion) from the defence ministry between May 2022 and May 2023.

In addition, Prigozhin’s Concord catering company made 80 billion roubles from state contracts to supply food to the Russian army, Putin said.

“I do hope that, as part of this work, no one stole anything, or, let’s say, stole less, but we will, of course, investigate all of this.”

Prigozhin, whom Putin did not mention by name, could not be reached for immediate comment on Putin’s remarks.

He said earlier this year that he had always financed Wagner but had looked for additional financing after the war began in Ukraine.

He said on Monday that he had not been trying to overthrow the Russian state and that he remained a patriot who was trying to settle scores with the defence ministry.

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Foo Fighters UK Tour 2024: how to get tickets, presale, potential setlist and full list of stadium dates

Diplomat Times
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Foo Fighters UK Tour 2024: how to get tickets, presale, potential setlist and full list of stadium dates

Foo Fighters UK Tour 2024: how to get tickets, presale, potential setlist and full list of stadium dates

UK (NW) – Foo Fighters have announced their return to the UK with a huge stadium tour entitled ‘Everything Or Not At All’. The news comes after the band were revealed to be ‘The ChurnUps’ on the Glastonbury line-up and performed an electric surprise set.

The band made the exciting announcement via their social media accounts, and confirmed that the support acts would include the likes of Courtney Melba, Honeyblood, Loose Articles, Wet Leg, Shame, Hot Milk and Himalayas at varying dates across the UK.

The tour comes after the release of the band’s latest album ‘But Here We Are’, which marked the first studio album the band has released since the death of their longtime drummer Taylor Hawkins. Hawkins died in March 2022.

So, how can you get your hands on tickets for Foo Fighters?

Here’s everything you need to know including the full list of UK dates they are set to play.

General sale for tickets begins on Friday June 30 at 9am BST. Tickets will be available via Ticketmaster 

Foo Fighters UK Tour 2024 – presale

Presale for Foo Fighters fans begins on Wednesday, June 28 9am and will last until an honour before general sale. For fans in Scotland, Gigs in Scotland will also host a presale event for fans that begins on Thursday June 29 at 9am.

Foo Fighters UK Tour 2024 dates

  • June 13 – Emirates Old Trafford, Manchester
  • June 17 – Hampden Park, Glasgow
  • June 20 – London Stadium, London
  • June 22 – London Stadium, London
  • June 25 – Principality Stadium, Cardiff
  • June 27 – Villa Park, Birmingham

Foo Fighters setlist

While there is no word on the setlist for the UK dates, setlist.fm released the running order of songs from a show the band played on June 16, 2023 at Oak Mountain Amphitheatre in the US :

  • No Son of Mine
  • Rescued
  • Walk
  • The Pretender
  • Learn to Fly
  • Times Like These
  • Under Your
  • Breakout
  • The Sky Is a Neighbourhood
  • Shame Shame
  • Sabotage / Whip It/ March of the Pigs / Haven’t Met You Yet
  • My Hero
  • This is a Call
  • The Teacher
  • Big Me
  • Monkey Wrench
  • Show Me How
  • Best of You
  • Aurora
  • Everlong

READ MORE : Rapper Young Thug drops new album ‘Business is Business’ from jail

By Beth Franklin

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YouTuber Devraj Patel killed in road accident, Face of viral ‘Dil Se Bura Lagta Hai’ meme

Roshan Bilung
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YouTuber Devraj Patel killed in road accident, Face of viral ‘Dil Se Bura Lagta Hai’ meme

YouTuber Devraj Patel killed in road accident, Face of viral ‘Dil Se Bura Lagta Hai’ meme

Raipur (IT) – Devraj Patel, a well-known comedian and YouTuber from Chhattisgarh passed away in a tragic road accident on Monday. The accident occurred around 3:30 p.m. while Patel traveled as a pillion rider.

He was on his way back from filming a video in Nava Raipur when a truck collided with him, resulting in severe head and body injuries. 

As a result, Devraj Patel, who was riding as a pillion passenger, got trapped under the truck’s rear wheel, according to the official’s statement.

Fortunately, the bike rider, Rakesh Manhar, escaped without any injuries. He promptly called an ambulance, and Patel was immediately taken to a hospital.

READ MORE : Tollywood choreographer Rakesh Master passes away at 53

Tragically, the doctors declared him dead upon arrival. Devraj Patel, originally from Mahasamund, gained popularity for his video titled ‘Dil se bura lagta hai.’ Expressing his condolences, Chhattisgarh Chief Minister Bhupesh Baghel took to his official Twitter account to share an old video of Devraj Patel.

In his tweet, the Chief Minister paid tribute to the late YouTuber and wrote,

“Devraj Patel, who made his place among crores of people with ‘Dil Se Bura Lagta Hai,’ who made us all laugh, left us today. The loss of amazing talent at this young age is very sad. May God give his family and loved one’s strength to bear this loss. Om Shanti,” Mr. Baghel tweeted in Hindi.

Soon after Mr. Baghel’s tweet, fans of the YouTuber expressed their sadness on the social media platform.

Born and raised in Mahasamund, he captured the hearts of millions with his unique style and relatable content.

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World Cup Qualifiers 2023: Zimbabwe annihilate USA to record second biggest win in men’s ODIs

Mark Kenya
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World Cup Qualifiers 2023: Zimbabwe annihilate USA to record second biggest win in men’s ODIs

World Cup Qualifiers 2023: Zimbabwe annihilate USA to record second biggest win in men’s ODIs

DT SPORTS (CC) – Zimbabwe showcased their dominance in the ongoing ICC Cricket World Cup Qualifiers with a resounding 304-run victory over the United States of America (USA) in their Group A encounter at the Harare Sports Club on Monday, June 26.

Having already secured a place in the Super Six stage, Zimbabwe achieved a historic milestone by recording their highest-ever total in One-Day Internationals (ODIs), amassing a formidable 408 for 6 in their allotted 50 overs. They then skittled out USA for a meagre 104 runs in just 25.1 overs.

READ MORE : Sri Lanka vs Ireland, ICC World Cup Qualifiers 2023 Highlights: SL Beat IRE By 133 Runs

The margin of victory, a massive 304 runs, is now the second-highest in men’s ODIs, coming close to India’s 317-run triumph over Sri Lanka in Thiruvananthapuram in January 2023.

Zimbabwean captainSean Williams played a breathtaking knock, smashing a 65-ball century which he eventually converted into a career-best 174 off just 101 deliveries. His explosive knock included 21 boundaries and five sixes, setting the foundation for Zimbabwe’s mammoth total.

Williams received ample support from wicketkeeper Joylord Gumble, who contributed a valuable 78 off 103 balls, along with Sikandar Raza (48 off 27) and Ryan Burl (47 off 16), as Zimbabwe unleashed an onslaught on the USA bowling attack.

In response, the USA team struggled to find any rhythm and succumbed to the pressure exerted by the Zimbabwean bowlers.

This victory victory not only highlights Zimbabwe’s prowess in the tournament but also emphasises their determination to secure a place in the upcoming ICC Cricket World Cup. With their commanding performance against USA, Zimbabwe have once again demonstrated their potential as a formidable force in international cricket.

As the ICC Cricket World Cup Qualifier progresses, Zimbabwe will be eager to carry forward their winning momentum into the Super Six stage.

Top 5 ODI wins in men’s cricket (by runs):

  • 317 runs – India vs Sri Lanka at Thiruvananthapuram, 2023
  • 304 runs – Zimbabwe vs USA at Harare, 2023
  • 290 runs – New Zealand vs Ireland at Aberdeen, 2008
  • 275 runs – Australia vs Afghanistan at Perth, 2015
  • 272 runs – South Africa vs Zimbabwe at Benoni, 2010

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ideaForge IPO: GMP, subscription status and what experts suggest on the issue

Andy Sengiah
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ideaForge IPO: GMP, subscription status and what experts suggest on the issue

ideaForge IPO: GMP, subscription status and what experts suggest on the issue

DT BUSINESS (MINT)- The ₹567 crore initial public offering of ideaForge, the country’s leading drone manufacturer, opened for subscription on Monday, June 26. The issue, which has a price band of ₹638-672, will close for subscription on June 29.

Subscription status: The issue received a strong response and was oversubscribed by the first day of the bidding itself. By 12:45 PM on Day one of bidding, ideaForge Technology IPO was subscribed 1.21 times. The company has received bids for 56,29,470 shares against 46,48,870 shares on offer, according to data from the BSE.

The portion for retail investors garnered the most bids. It was subscribed 4.81 times while the part reserved for employees was subscribed 3.46 times. Meanwhile, the non-institutional investors’ (NII) quota was subscribed 1.21 times, however, no qualified institutional buyers’ (QIB) bid for the issue was seen so far.

READ MORE : Perodua launches affordable Axia E model, Cheapest car in Malaysia

GMP: The company’s shares witnessed a strong premium of ₹490 in the grey market on Monday, indicating a strong demand for the IPO.

However, one must note that grey market premium is only an indicator of how the company’s shares are performing in the unlisted market and can change quickly.

About the IPO: The IPO comprises a fresh issue of equity shares of up to ₹240 crore and an offer for sale (OFS) of up to 48.6 lakh shares by selling shareholders. The fresh issue portion from the offer has been reduced to this current amount from ₹300 after the firm raised ₹60 crore by offloading 8.92 lakh shares to institutional investors in a pre-IPO placement round.

Important dates: The date of allotment of units is likely to be 4 July and the issue is expected to list on the bourses on 7 July.

Anchor investment: The firm has raised ₹254 crore in the anchor round, which saw participation from marquee investors including Nomura, Invesco, HSBC, ICICI Pru MF, Mirae Asset MF, HDFC MF, and Goldman Sachs among others.

Reservation: About 75 percent of the net offer is reserved for the QIB portion, 15 percent for non-institutional investors, and 10 percent is set aside for retail investors.

Objective: The proceeds from its fresh issuance to the tune of ₹50 crore will be utilised for repayment of certain indebtedness availed by the company, ₹135 crore towards funding working capital requirements, ₹40 crore for investment in product development and general corporate purposes.

What do experts say?

Motilal Oswal: Subscribe

“We like IFL given its complex/wide product portfolio, presence in niche space, strong client relationship and high entry barriers. The issue is valued at 5x P/BV (peers avg: ~8x) on a post-issue basis, which is fairly valued. We believe IFL could benefit from government impetus on the defence space as well as rising enterprise demand. Hence we recommend Subscribe. Further, given the current buoyant market and high interest for defence stocks, the issue could see listing gains as well,” explained MOSL.

It also noted that ideaForge has one of the industry’s leading product portfolios with a dual presence in both civil and defence applications. IFL’s revenue jumped >5x over FY21-23 to ₹190 crore, while PAT turned positive in the last two years, with FY23 profit at ₹32 crore, it informed. Further, the brokerage added that given the current buoyant market and high interest in defence stocks, the issue could see listing gains as well.

Marwari Financial Services: Subscribe

“Considering the FY23 Annualized EPS of ₹7.68 on a post-issue basis, the company is going to list at a P/E of 87.54x with a market cap of ₹2,800 crore. whereas its peers namely MTAR technology, Data patterns and Astra microwave products are trading at a P/E of 58.52x, 84.95x, and 52.27x. We assign Subscribe rating to this IPO as the company is the pioneer and the pre-eminent market leader in the Indian UAS industry, with a first-mover advantage and strong relationships with a diverse customer base. Also, it is available at a reasonable valuation considering the future growth potential of the company.”

Axis Capital: Not Rated

While the brokerage has not rated the issue, it noted that ideaForge is the pioneer and the pre-eminent market leader in the Indian UAS market, with a market share of approximately 50 percent in fiscal 2022.

“Their promoters built their 1st quadrotor drone in 2004. They started their operations in 2007 and with a first-mover advantage, they are among the 1st few companies in India to enter the UAV market. Their in-house capabilities to design, develop, engineer and manufacture have enabled them to develop better products basis evolving demands of their customers, thereby enhancing customer experience with their products. Their ability to build a fully integrated system and having control over the full stack differentiates them from other players in the market. They are driven by a self-propagating flywheel, whereby as a result of their leadership position and their 1st mover advantage, they have been able to create a better user experience based on customers insights and with continuous technology improvements,” it said.

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