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When is Venice Film Festival 2023 and What Can We Expect?

Emma Stone's Frankenstein-like 'Poor Things' premiers in Venice but she will be absent amid the strike by Hollywood actors and writers. Vincenzo PINTO / AFP
Emma Stone's Frankenstein-like 'Poor Things' premiers in Venice but she will be absent amid the strike by Hollywood actors and writers. Vincenzo PINTO / AFP
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When is Venice Film Festival 2023 and What Can We Expect?

Emma Stone's Frankenstein-like 'Poor Things' premiers in Venice but she will be absent amid the strike by Hollywood actors and writers. Vincenzo PINTO / AFP
Emma Stone's Frankenstein-like 'Poor Things' premiers in Venice but she will be absent amid the strike by Hollywood actors and writers. Vincenzo PINTO / AFP

The Venice International Film Festival is the oldest film festival in the world, with its 80th edition opening this week.
Below are some facts about the festival and the 2023 contenders.
WHEN IS THE VENICE FESTIVAL?
The festival opens on Aug. 30 with the premiere of Italian World War Two film "Comandante", directed by Edoardo De Angelis. The event runs until Sept. 9 and closes with a Spanish-language Netflix drama "Society of the Snow".
WHERE IS IT HELD?
The Festival takes place on the Venice Lido - the so-called beach of Venice -- a thin barrier island in the Venetian Lagoon, which is a short boat trip from the main city of Venice. Unlike Venice itself, cars have access to the Lido.
WHY IS IT SO CLOSELY WATCHED?
The festival marks the start of the awards season and regularly throws up big favorites for the Oscars. Eight of the past 11 best director awards at the Oscars went to films that debuted at Venice.
Movie stars and directors traditionally enjoy traveling to the lagoon city to launch their films. However, this year will offer a bit less sparkle than usual because a Hollywood actors' strike will prevent many stars from promoting their work here.
WHAT MOVIES HAVE BEEN SELECTED FOR THE FESTIVAL?
There are several categories making up the official selection of films shown, the top being those competing for the coveted Golden Lion award.
This year's 23 contenders, in order of their screening, are:
"Comandante" (Italy) Director: Edoardo De Angelis
"El Conde" (Chile) Dir: Pablo Larrain
"Dogman" (Fr) Dir: Luc Besson
"Ferrari" (US) Dir: Michael Mann
"The Promised Land" (Denmark) Dir: Nikolaj Arcel
"Poor Things" (UK) Dir: Yorgos Lanthimos
"Finally Dawn" (It) Dir: Saverio Costanzo
"Maestro" (US) Dir: Bradley Cooper
"Adagio" (It) Dir: Stefano Sollima
"Die Theorie Von Allem" (Ger-Austria-Switz) Dir: Timm Kroger
"The Killer" (US) Dir: David Fincher
"The Beast" (Fr-Canada) Dir: Bertrand Bonello
"Evil Does Not Exist" (Jap) Dir: Ryusuke Hamaguchi
"Priscilla" (US-It) Dir: Sofia Coppola
"Green Border" (Czech-Pol-Bel-France) Dir: Agnieszka Holland
"Enea" (It): Dir. Pietro Castellitto
"Origin" (US) Dir: Ava DuVernay
"Me Captain" (It-Bel) Dir: Matteo Garrone
"Lubo" (It-Switz) Dir: Giorgio Diritti
"Holly" (Bel-Neth-Lux-Fr) Dir: Fien Troch
"Woman Of" (Pol-Swe) Dir: Malgorzata Szumowska, Michal Englert
"Memory" (Mex-US) Dir: Michel Franco
"Hors-Saison" (Fr) Dir: Stephane Brize
ARE ANY BIG FILMS BEING SHOWN OUT OF COMPETITION?
Like other festivals, Venice reserves a number of spots for interesting movies that are shown out of competition. Amongst those on offer this year are "The Caine Mutiny Court-Martial" by US director William Friedkin, who died this month; "Coup de Chance", Woody Allen's first French-language picture; "The Palace", by Roman Polanski; "The Wonderful Story of Henry Sugar", a short feature by Wes Anderson; "Aggro Dr1ft", directed by Harmony Korine and starring rapper Travis Scott.

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Business

Japan PM Reassures Markets with Fiscal Discipline in Next Year’s Budget

Japan's Prime Minister Sanae Takaichi delivers a speech at the 14th Council Meeting of the Japan Business Federation, or Keidanren, in Tokyo on December 25, 2025. (AFP)
Japan's Prime Minister Sanae Takaichi delivers a speech at the 14th Council Meeting of the Japan Business Federation, or Keidanren, in Tokyo on December 25, 2025. (AFP)
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Japan PM Reassures Markets with Fiscal Discipline in Next Year’s Budget

Japan's Prime Minister Sanae Takaichi delivers a speech at the 14th Council Meeting of the Japan Business Federation, or Keidanren, in Tokyo on December 25, 2025. (AFP)
Japan's Prime Minister Sanae Takaichi delivers a speech at the 14th Council Meeting of the Japan Business Federation, or Keidanren, in Tokyo on December 25, 2025. (AFP)

Japanese Prime Minister Sanae Takaichi sought on Thursday to ease market concerns over her expansionary fiscal policy, saying the government's draft budget maintains discipline by limiting reliance on debt.

There has been growing investor unease about fiscal expansion under Takaichi's administration, which has driven super-long government bond yields to record highs and weighed on the yen.

The budget for the year starting in April, to be finalized on Friday and submitted to parliament early in 2026, ‌will total 122.3 trillion ‌yen ($785.4 billion), Takaichi told ruling coalition executives.

The huge ‌spending ⁠will come ‌on top of a 21.3 trillion-yen stimulus package, compiled in November and funded by a supplementary budget for the current fiscal year, that focused on cushioning the blow to households from rising living costs.

Despite the record size, new government bond issuance for the next fiscal year will be capped at 29.6 trillion yen, staying below 30 trillion yen for a second straight year, ⁠she said.

The reliance on debt will fall to 24.2% from 24.9% in the initial fiscal 2025 ‌budget, which dipped below 30% for the ‍first time in 27 years, she said. ‍The 24.2% debt dependence ratio would be the lowest since 1998.

"We ‍believe this draft budget strikes a balance between fiscal discipline and achieving a strong economy while ensuring fiscal sustainability," Takaichi said.

In a separate speech at Japanese business lobby Keidanren, Takaichi said that her "responsible, proactive" fiscal policy means strategic spending with a long-term perspective.

"It does not mean expanding expenditures indiscriminately based solely on scale," she said.

In a report to clients, Yusuke Matsuo, ⁠Mizuho Securities' senior market economist, said Takaichi would still need to promote proactive fiscal spending to avoid alienating her political base. He added that financial markets could be reassured if the government sticks to a less aggressive stance on spending.

Signaling a shift in the government's reflationary policy push, private-sector members of a government panel on Thursday called on the government to clearly show the public how the debt-to-gross domestic product ratio can be steadily reduced under Takaichi's government.

The four private-sector members include former Bank of Japan Deputy Governor Masazumi Wakatabe and economist Toshihiro Nagahama - known as reflationist aides of Takaichi.

Their proposals were discussed at ‌the Council on Economic and Fiscal Policy (CEFP), which oversees Japan's fiscal blueprint and long-term economic policies.

World

China Accuses US of Trying to Thwart Improved China-India Ties

FILE PHOTO: Chinese and US flags flutter in Shanghai, China July 30, 2019. REUTERS/Aly Song
FILE PHOTO: Chinese and US flags flutter in Shanghai, China July 30, 2019. REUTERS/Aly Song
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China Accuses US of Trying to Thwart Improved China-India Ties

FILE PHOTO: Chinese and US flags flutter in Shanghai, China July 30, 2019. REUTERS/Aly Song
FILE PHOTO: Chinese and US flags flutter in Shanghai, China July 30, 2019. REUTERS/Aly Song

China accused the US on Thursday of distorting its defense policy in an effort to thwart an improvement in China-India ties.

Foreign ministry ‌spokesperson Lin ‌Jian was ‌responding ⁠to a question ‌at a press briefing on whether China might exploit a recent easing of tensions with India over disputed border areas to keep ⁠ties between the United States ‌and India from ‍deepening.

China views ‍its ties with ‍India from a strategic and long-term perspective, Lin said, adding that the border issue was a matter between China and India and "we object to ⁠any country passing judgment about this issue".

The Pentagon said in a report on Tuesday that China "probably seeks to capitalize on decreased tension ... to stabilize bilateral relations and prevent the deepening of US-India ties".

Business

Asian Shares are Mixed after US Stocks Drift to More Records

Currency dealers monitor exchange rates as a screen (R) shows South Korea's benchmark stock index in a foreign exchange dealing room at the Hana Bank headquarters in Seoul on November 5, 2025. (Photo by Jung Yeon-je / AFP)
Currency dealers monitor exchange rates as a screen (R) shows South Korea's benchmark stock index in a foreign exchange dealing room at the Hana Bank headquarters in Seoul on November 5, 2025. (Photo by Jung Yeon-je / AFP)
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Asian Shares are Mixed after US Stocks Drift to More Records

Currency dealers monitor exchange rates as a screen (R) shows South Korea's benchmark stock index in a foreign exchange dealing room at the Hana Bank headquarters in Seoul on November 5, 2025. (Photo by Jung Yeon-je / AFP)
Currency dealers monitor exchange rates as a screen (R) shows South Korea's benchmark stock index in a foreign exchange dealing room at the Hana Bank headquarters in Seoul on November 5, 2025. (Photo by Jung Yeon-je / AFP)

Asian shares were mixed Thursday in thin holiday trading, with most markets in the region and elsewhere closed for Christmas.

In Tokyo, the Nikkei 225 edged 0.1% higher to 50,407.79. It has gained nearly 30% this year.

The dollar slipped to 155.85 Japanese yen from 155.94 yen. The euro climbed to $1.1786 from $1.1780.

Markets in mainland China advanced, with the Shanghai Composite index up 0.5% at 3,959.62. Hong Kong's exchange was closed, The Associated Press said.

Investors were encouraged by a statement by the People’s Bank of China, China’s central bank, promising to ensure adequate money supply to support financing, economic growth and inflation targets. Earlier in the week, the PBOC had opted to keep its key short-term lending rates unchanged.

Shares fell in Thailand and Indonesia.

On Wednesday, the S&P 500 index rose 0.3% to 6,932.05 and the Dow Jones Industrial Average added 0.6% to close at 48,731.16. The Nasdaq composite added 0.2% to 23,613.31

Trading was extremely light as markets closed early for Christmas Eve and will be closed for Christmas on Thursday. US markets will reopen for a full day of trading on Friday, though volumes will likely remain light this week with most investors having closed out their positions for the year.

The S&P 500 is up more than 17% this year, as investors have embraced the deregulatory policies of the Trump administration and been optimistic about the future of artificial intelligence in helping boost profits for not only technology companies but also for Corporate America.

Much of the focus for investors for the next few weeks will be on where the US economy is heading and where the Federal Reserve will move interest rates. Investors are betting the Fed will hold steady on interest rates at its January meeting.

The US economy grew at a surprisingly strong 4.3% annual rate in the third quarter, the most rapid expansion in two years, driven by consumers who continue to spend despite strong inflation. There have also been recent reports showing shaky confidence among consumers worried about high prices. The labor market has been slowing and retail sales have weakened.

The number of Americans applying for unemployment benefits fell last week and remain at historically healthy levels despite some signs that the labor market is weakening.

US applications for jobless claims for the week ending Dec. 20 fell by 10,000 to 214,000 from the previous week’s 224,000, the Labor Department reported Wednesday. That’s below the 232,000 new applications forecast of analysts surveyed by the data firm FactSet.

Dynavax Technologies soared 38.2% after Sanofi said it was acquiring the California-based vaccine maker in a deal worth $2.2 billion. The French drugmaker will add Dynavax’s hepatitis B vaccines to its portfolio, as well as a shingles vaccine that is still in development.

Novo Nordisk's shares rose 1.8% after the weight-loss drug company got approval from US regulators for a pill version of its blockbuster drug Wegovy. However, Novo Nordisk shares are still down almost 40% this year as the company has faced increased competition for weight-loss medications, particularly from Eli Lilly. Shares of Eli Lilly are up 40% this year.

US crude oil closed at $58.35 a barrel and Brent crude finished at $61.80 a barrel.