Kylie Jenner, World’s Youngest Self- Made Billionaire To Launch Apparel Collection In India

Kylie Jenner, the recent throne- owner of the ‘youngest billionaire’ is all set for her new project. This youngest self-made billionaire in the world owns the 100 per cent of her cosmetic company Kylie Cosmetics. She is also a hit- star on social media. 

Well, while Kylie is on the go, her sister Kendall Jenner who is also a supermodel makes sure to stay in the game too. The supermodel has the business plans of her own. After collaborating with her sister for their cosmetic brand, the two are once again joining hands but this time it is for an apparel collection.

The sisters are all set to capture the international market as they launch their collection in India. The stunning businesswomen recently shared a video announcing how excited they are for their apparel collection in India, which is one of the world’s fastest-growing economies.

The official Instagram page of the store released a video recently that showed the two sisters sharing their excitement about launching their products in a new market.

This is their first ever international collaboration for the Indian retailer. The Kendall + Kylie X Forever 21 India collection is already available on the website of the company, and it will soon be available in the retail stores.

Rumoured European T20 Franchise League To Begin This Season Between Ireland, Scotland, Netherlands

The Ireland, Scotland and the Netherlands boards confirmed on Wednesday that the much rumoured European T20 franchise league will begin this season. 

The competition will be between six- teams starting from August 30 to September 22 which will be hosted across all the three countries. 

The new competition will see two franchises from each of the countries, based in Edinburgh, Glasgow, Dublin, Belfast, Amsterdam and Rotterdam, competing in a double round-robin leading into semi finals. Squads will comprise a minimum of nine domestic players and up to seven overseas, with a minimum of six domestic players in the playing XI.

The competition is sanctioned under the auspices of Cricket Ireland, but is nonetheless the first multi-board collaborative franchise T20 league of its kind. Though in some respects it resembles the Scottish-Dutch North Sea Pro-Series which ran from 2014-2016 and was initially envisaged as a fully professional competition also including the Irish Interpro sides, but the project drew little attention external attention and eventually withered away for lack of funding.

Conversely, the new league has the backing and participation of an ICC Full member in Ireland, and looks to be on firmer footing financially – the initial agreement with sponsors and partners GS Holding and Woods Entertainment running for ten years.

The project is the culmination of a period of intensified cooperation between the European sides, who staged their first tri-lateral T20I series in the Netherlands last summer and met again last month in Muscat for a four-way T20 series with hosts Oman.

Ireland CEO Warren Deurtom said, “We are very excited that what has essentially been an 18-month project in planning is across the line. The quality and competitive performances in white-ball cricket played by the three nations involved has been on full display over recent years, and we saw a joint competition as the best means of ensuring that there would be high quality cricket for the players and fans to enjoy.”

With the T20 WC Qualifier confirmed to be held in the UAE a month later, the new competition will also provide the three sides with valuable match practice in the lead up to the tournament. “The chance to play alongside some of the best in the business will provide a great opportunity for our players to learn and develop their own skillset as we strive to achieve Full Membership and climb the ICC team rankings. The league also comes at an important time of year for Scotland, with the proposed time frame presenting an opportunity to play quality competitive cricket ahead of the T20 WC Global Qualifier in UAE in October” said Cricket Scotland CEO Malcom Cannon.

KNCB Chair Betty Timmer added, “In recent months, the three cricket boards have shown that European cooperation is possible and we thank Cricket Ireland for this great initiative to put T20 cricket in Europe on the map. For some time, Ireland and Scotland have been competitive opponents and we need each other to continue to perform at a high level. This new T20 league is a great opportunity for the Dutch players to gain more T20 experience at a high level and to play in a team with highly experienced international cricketers.”

An official launch revealing the names of the teams and the tournament and confirming venues is expected in April.

After RBI’s Strict Action, Top Court Is Set To Begin Hearings On Banking Regulator’s Diktat

The Supreme Court after a year of the Reserve Bank of India (RBI) keeping an eye on companies delaying debt payments, is set to begin hearing arguments  on whether the banking regulator’s diktat applies across industries.

Hanging in the balance is the fate of more than $25 billion of loans to power producers. They are among parties contesting RBI’s 12 February circular that forced banks to recognize loans as non-performing assets (NPAs) if dues are delayed even by a day and to approach bankruptcy courts if a restructuring isn’t agreed to within 180 days.

The top court in September halted proceedings against power sugar and shipping companies after they challenged RBI’s one day default norm. 

The RBI circular last year, which scrapped previous methods for recasting bad loans, rattled companies and lenders alike. The power sector was among the hardest hit with the government identifying as stressed 34 plants with outstanding debt of about ₹1.8 trillion. If the RBI directive is upheld, many of these would immediately be pushed into insolvency court with lenders forced to dial-up provisions. The top court has said the case will be on top of its agenda for Wednesday and a judgment is expected once arguments conclude over the next few weeks.

The top court’s September halt on further action had offered lenders some breathing space to look for buyers for these businesses. Those scouting for acquirers for power assets though had little luck as the sector is plagued by fuel shortages and difficulties negotiating long-term supply contracts with the country’s debt-laden electricity distributors (power discoms).

Of the 34 plants identified as stressed, only a few units—including JP Power’s Prayagraj unit—are anywhere close to resolution, people familiar with the matter said. Banks could face a 75% loss ratio on their lending to these stressed companies which are on brink of bankruptcy, according to a Bank of America Merrill Lynch (BofA-ML) estimate.

Operational Creditors Appeal To ArcelorMittal For Payment Over ₹1 Crore Dues From Essar Steel

A meeting of operational creditors with ₹1 crore dues from Essar Steel has appealed to ArcelorMittal to pay their dues. ArcelorMittal is in the process of acquiring the debt-ridden company. 

Last October, a committee of Essar Steel creditors had picked ArcelorMittal to acquire the 10-million tonne steel mill for over Rs 42,000 crore. But the original promoters, the Ruias made a counter bid with Rs 54,384 crore offer later and was rejected by the lenders and the resolution professional.

The NCLT Ahmedabad has been directed by NCLAT to conclude the process by March 8.

ArcelorMittal’s resolution proposal also includes an additional Rs 8,000-crore of capital injection into the company to improve operational efficiencies, increase production and deliver enhanced levels of profitability.

In its appeal, a forum of operational creditors with over Rs 1 crore of dues, said it is unfair that ArcelorMittal is not paying a penny to such creditors.

Essar Steel’s operational creditors with large dues include the national oil marketer IndianOil with over Rs 3,500 crore of dues.

“Our appeal is that ArcelorMittal may graciously and voluntarily modify their offer a bit and pay us also if not in one go at least in installments, over the next 12 months,” the forum said.

Noting that the buyer is paying in full those operational creditors with less than Rs 1 crore dues, the forum said “it’s extremely discriminating and wholly arbitrary. The operational creditors with over Rs 1 crore dues are being singled out as if they are being punished. What crime have we committed?”

Late last month, the National Company Law Apellate Tribunal (NCLAT) had directed the NCLT Ahmedabad to take a decision by March 8 on the Rs 42,000-crore bid submitted by ArcelorMittal for the acquisition of Essar Steel.

The resolution process is nearing 600 days instead of the mandated 270 days.

Essar Steel runs a 10-million-tonne steel mill at Hazira in Gujarat and owes over Rs 49,000 crore to over two dozen banks led by the SBI and has been under the bankruptcy proceedings since June 2017.

Spicejet Partners Amadeus, A Travel Tech Solutions Provider

Spicejet appointed Amadeus, a travel technology solutions provider as its first global distribution partner on Tuesday. 

This would help it reach out to new markets and teavelers across the world. 

However, Spicejet’s entire ticketing inventory will continue to be available to domestic travellers through existing channels as well as with Amadeus with a different pricing, the airline said in a statement.

Airline chairman Ajay Singh said this distribution tie-up with Amadeus will enable the airline’s customers to connect with its growing international network.

The Gurugram-based carrier currently operates an average 516 flights daily connecting 59 destinations, including to eight international airports with a with a fleet of 48 Boeing 737s, and 27 regional jets Bombardier Q-400s.

It also has a freighter, a Boeing 737, in the fleet to cater to the cargo flights network.

Amadeus provides its travel technology solutions to over 440 carriers, including over 100 low-cost and full- service carriers globally.

Apple Likely To Allow Repairs For iPhones With Third- Party Components

Apple has always been strict about declininh any kind of service or repair when it comes to iPhones woth third party components. Now it has likely changed ita policy and will allow repairs for iPhones with aftermarket batteries at Apple authorized service providers and Genius Bars internationally. 

French blog iGeneration was the first to report this development yesterday, and MacRumors subsequently obtained internal documents that confirmed the news. This is a huge win for Apple product owners, as they can now get their gadgets fixed at an authorized service center, even after replacing their batteries at a third-party repair shop, or with off-brand batteries on their own.

As per MacRumor’s report, service centers are instructed to ignore the third-party battery, if the problem is not related to it. And if the battery‘s faulty, they’re allowed to replace it.

While Apple still doesn’t allow repairs for iPhones with aftermarket logic boards, microphones, volume buttons, and lightning connectors, this is a welcome change.

Samsung To Launch Galaxy A60, 6.7 Inch Infinity- U Display, 32MP Triple Camera

Samsung is set to launch the latest Galaxy A60. While the company hasn’t made the device official, the specifications have been leaked online. 

According to the leaked spec sheet posted by SlashLeaks on Weibo, the Galaxy A60 will sport a 6.7-inch full HD+ Super AMOLED Infinity-U display. It will be powered by a Qualcomm Snapdragon 6150 processor paired with 6GB/8GB of RAM and 128GB internal storage.

The device will run Google’s Android 9.0 Pie operating system with the company’s own One UI skin on top. All of this will be backed by a 4,500mAh non-removable battery. The device just like the Galaxy A50 will sport an in-display fingerprint scanner on the front.

In terms of camera specifications, Samsung Galaxy A60 will sport a triple camera setup on the back, consisting of a 32MP primary sensor paired with an 8MP wide-angle sensor and a 5MP sensor. On the front, it features a 32MP sensor for taking selfies.

Samsung recently launched the Galaxy A10, A30 and A50 in the Indian market.  To recall, a Samsung executive in an interview, stated that the company plans to launch a new Galaxy A-series smartphone every month till June. It’s being said that Samsung could launch the Galaxy A40 and Galaxy A70 in India in the coming days.

Glass Firm Corning Works On Making Truly Bendable Glass For Foldable Phones

A number of phone companies are coming up with the foldable phones, but with a few warnings. These phones are not just expensive but use a polymer screens instead of the glass screens that people nowadays are expecting from smartphones. While plastic screens are much preferred, they are worse than glass in almost every aspect.

 Glass is strong, durable, hard to scratch, and better to look at than its plastic polymer counterpart. However, the currently available glass can’t fold enough to make it suitable for folding phones. To make sure that the consumers can buy a truly foldable smartphones with a glass screen over the coming years, Corning, the company behind Gorilla Glass, has confirmed it is working on an ultra-thin, bendable glass that is able to bend to a 5-millimeter radius.

According to a report in Wired, the main issue with building a bendable glass is making sure that bending it doesn’t impact its toughness.

“The back of the problem we’re trying to break, the technical challenge, is, can you keep those tight 3- to 5-millimeter bend radii and also increase the damage resistance of the glass,” Corning’s John Bayne told Wired. “That’s the trajectory we’re on.”

The report adds that Corning is using the learnings from its Willow Glass and Gorilla Glass to build the bendable glass. The Willow Glass can roll up like a sheet of paper and Gorilla Glass is known of its durability. The company’s current bendable glass prototypes that have been sampled with smartphone makers don’t seem hit the right mark. They either fall short of durability requirements or they are not bending enough.

“We have glasses we’ve sampled to customers, and they’re functional, but they’re not quite meeting all the requirements,” Bayne noted. “People either want better performance against a drop event or a tighter bend radius. We can give them one or the other; the key is to give them both.”

Corning expect that its bendable glass, which can fulfill all of the smartphone manufacturers’ requirements, will be ready by the time the foldable phones go mainstream.

US President Donald Trump Plans To Take Down India’s Preferential Trade Status

US President Donald Trump has announced plans to take down the prefential trade status from India, saying that the country’s capital New Delhi has failed to assure it of “equitable and reasonable” access to its markets. On this India said it would not have a  “significant impact” on its exports to America.

The move to end the Generalised System of Preferences (GSP) for India and Turkey is the latest push by Trump to redress what it considers to be unfair trading relationships with other countries like China. Trump has pledged to reduce US trade deficits, and has repeatedly called out India for high tariffs.

On Monday, President Trump notified the Congress in letters of his “intent to terminate” trade benefits for both countries under the GSP eligibility criteria.

Meanwhile, India has sought talks to avoid a trade war after the US set a 60-day window to impose higher duty on concessional exports worth nearly Rs 40,000 crore.

“We are still in discussion. We would like to reach an agreement,” said government sources even as Commerce Secretary Anup Wadhawan discounted the likely impact to Rs 1,400 crore.

On concerns being raised by the US on “high tariffs”, he said, “We do not agree with that at all. Our tariffs are very consistent with the bound rates that we are entitled to in the WTO.”

India has offered a trade package to the US, first highlighted in January by its envoy in Washington Harsh Vardhan Shringla that was wrapped in promises of about Rs 35,000 crore annually in oil and gas imports from the US and another Rs 1,00,000 lakh crore in defence orders in the coming years. “There are still 60 days and we will continue to talk to them,” said government sources.

GSP explained

  • Nearly 2,000 products, including auto components and textiles, can enter the US duty-free, if the beneficiary developing countries meet the eligibility criteria
  • India was the largest beneficiary of the programme in 2017 with $5.7 billion in imports to the US given duty-free status