Mumbai: Actors John Abraham and Emraan Hashmi have been locked to feature in filmmaker Sanjay Gupta’s upcoming gangster drama. The film is set in the 1980s and 1990s and in a fictionalised manner revolves around the key events that turned Bombay to Mumbai. According to a press release, the untitled drama will chronicle the closing of mills, the murder of a key businessman, the nexus between politicians, cops, the underworld and the business fraternity of the city. “It’s my third outing with John and I’m super excited to work with Emraan, I have always wanted to work with him and I am back to my base of filmmaking, gangster dramas and all I can say is…It’s good to be home,” Gupta said in a statement. The film, scheduled to go on floors next month, is produced by Gupta’s White Feather Films and Bhushan Kumar’s T Series.
[np_storybar title=”Why Bernanke’s QE3 announcement is the real deal” link=”https://business.financialpost.com/2012/09/13/why-bernankes-qe3-announcement/”%5DAnalysis: The most important part of the announcement was that all of this is open-ended, meaning the Fed is committed to the new round of quantitative easing for as long as it takes [/np_storybar]Canada’s dollar strengthened to a 13-month high versus its U.S. counterpart after the Federal Reserve announced a third round of stimulus measures to spur economic growth in the nation’s largest trading partner.The currency gained against 13 its 16 most-traded counterparts as the Fed said it will expand its holdings of long-term securities with open-ended purchases of US$40-billion of mortgage debt a month, expanded its guidance on interest rates into 2015 and pledged to keep monetary policy accommodative even when the economy strengthens. The debt purchases raised concern that the money added to the U.S. economy will erode the value of the greenback.“Number one, they are going to purchase more securities, and those purchases have been flagged as open ended for the time being — markets are going to look at that as a positive for risk,” George Davis, chief technical analyst for fixed income and currency strategy in Toronto at Royal Bank of Canada said in a telephone interview. “More risk means currencies like Canada’s, which is closely tied to commodities, will benefit.”Canada’s currency rose 0.8% to 96.82 cents per U.S. dollar at 4:20 p.m. in Toronto, the strongest since August 2011. One Canadian dollar buys $1.03284.[np-related]Government bonds rose. The benchmark 10-year yield fell two basis points, or 0.02 percentage point, to 1.88%. Two- year note yields dropped two basis points to 1.17 percent.U.S. stocks rose, sending the Standard & Poor’s 500 Index above its highest close in five years. The S&P 500 gained 1.6%.Commodities RallyCommodity-linked currencies were bolstered as investors placed bullish bets on growth. The dollars of Australia and South Africa, commodities exporters like Canada, both gained against the greenback. The Aussie appreciated 0.7% to $1.0540 and the kiwi, as New Zealand’s dollar is known, rose 1.2% to 83.05 U.S. cents.Gold and oil, both Canadian exports, climbed rose. The metal rose to the highest level in more than six months as gold futures for December delivery rose 2.2% to settle at $1769.70 on the Comex in New York, the highest since Feb. 29. Crude futures advanced the most since May, rising 1 percent to $98.01 a barrel in New York.“The longer that the U.S. keeps their interest rates low, especially since commodities are priced in U.S. dollars, the longer we’ll see a rally in commodities and commodity-based currencies,” Tim Gardiner, managing director of commodities at Toronto-Dominion Securities, said in a phone interview.Bloomberg.com