logo
India Top Court Rejects Airtel, Vodafone Waiver Pleas

India Top Court Rejects Airtel, Vodafone Waiver Pleas

Bloomberg19-05-2025

By and Shruti Mahajan
Corrected
May 19, 2025 at 5:24 AM EDT
Save
India's Supreme Court has rejected Bharti Airtel Ltd. 's and Vodafone Idea Ltd. 's petitions seeking a waiver on dues owed to the government.
Vodafone Idea shares plunged as much as 10% in Mumbai after the court order, while those of Bharti Airtel were little changed.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Fauré Le Page Doesn't Identify As A Luxury Brand—Why That Matters
Fauré Le Page Doesn't Identify As A Luxury Brand—Why That Matters

Forbes

timean hour ago

  • Forbes

Fauré Le Page Doesn't Identify As A Luxury Brand—Why That Matters

The Ladies First Bag is the Parisian Chic House's new, all-leather piece. It's rare for a heritage fashion house to dismiss the luxury label outright—especially one with 300 years of history. Yet at the recent Manila launch of Fauré Le Page's Ladies First bag, Augustin de Buffévent, the brand's Artistic & Communications Director, was quick to reject the term. 'We have nothing to do with luxury,' he stated in a matter-of-fact tone. 'We are a Parisian chic house and I am not at ease with the concept of luxury. To me, it doesn't mean anything anymore.' That distinction matters. Across Asia, brands are being forced to rethink what luxury actually means. According to a report, 87% of consumers now favor timelessness over trends while 80–92% rank material quality and craftsmanship above brand prestige when defining luxury. Meanwhile, the industry faces a reckoning with another industry report estimating the loss of some 50 million luxury buyers last year as inflation eats into purchasing power. In that context, Fauré Le Page's position feels less rebellious than it does well-calculated. The Ladies First bag marks a quiet milestone for the house. It's their first all-leather line, made from full-grain Armure Leather inspired by 18th-century cuirasses. The silhouette is structured but feminine, blending heritage with ease. Barrel-shaped clasps and bullet-like zipper pulls are subtle nods to the brand's origin as a purveyor of firearms to French nobility—though de Buffévent is quick to clarify: 'It's not a weapon. It's a weapon of seduction.' There's no rush here. Unlike fast‑fashion cycles or trendier labels vying for virality, Fauré Le Page plays a long game. 'Long-lasting items take time. We don't follow the crazy rhythm of fashion,' says de Buffévent. With rigorous 'torture tests' built into production, each bag is crafted to last—preferably a decade or more. He beams, 'I'm proud when I see someone carrying the same bag after ten years. Even more when my daughters steal bags from my wife.' I'm proud when I see someone carrying the same bag after ten years. Even more when my daughters steal bags from my wife. This slow‑craft approach aligns with evolving consumer behavior. A recent study found that 87% of luxury buyers across China, Japan, and Southeast Asia now prioritize quality, craftsmanship, and long‑term value over mere brand prestige, underscoring the rising demand for meaningful, substance‑driven luxury. The timing couldn't be more relevant. Some of the industry's biggest players have faced criticism over quality despite hiking prices. In May of this year, a TikTok user went viral after claiming that the straps of her Goyard St. Louis PM tote melted during a warm spring day, leaving stains on her shirt and questions about the bag's durability. It wasn't even summer yet. Incidents like this are fueling conversations about whether today's 'luxury' still lives up to the name. Other labels haven't been spared either: Chanel's classic flap bags have drawn complaints over uneven stitching and delicate leather, while Prada's nylon pieces have been criticized for fraying seams and faulty zippers after minimal use—all despite repeated price hikes in the last few years. So, who is the Ladies First bag made for? Forget demographics. 'I hate the term 'fashion victim,'' de Buffévent says. 'Women should create their own style. This bag is the perfect accessory for that.' With its sturdy form, refined detailing, and rich symbolism, it's less about signaling wealth and more about wearing conviction. At the launch of Fauré Le Page's Ladies First bag in Manila. Nikki Huang (Rustan's Commercial Group Merchandising Consultant), Augustin de Buffevént (Fauré Le Page Artistic & Communications Director), Anton Huang (SSI Group President) and Stephanie Chong (Fauré Le Page Philippines General Manager) Rather than chasing the new, Fauré Le Page refines what's already timeless. 'We're not in the fashion business,' he reiterates. 'Quality is at the heart.' And for a growing number of buyers, that's where real luxury now lives. In a market bloated with disposable 'It' bags and seasonal logo drops, Fauré Le Page offers a slower and sturdy alternative: one that values craft over clout, style over spectacle. With Ladies First, they are launching a new silhouette while sending a message. For those who are done with flash and ready for substance, this may be the new standard of luxury.

He helped Microsoft grow in India, and Seattle Orcas co-owner could do same for cricket in U.S.
He helped Microsoft grow in India, and Seattle Orcas co-owner could do same for cricket in U.S.

Geek Wire

time3 hours ago

  • Geek Wire

He helped Microsoft grow in India, and Seattle Orcas co-owner could do same for cricket in U.S.

Sanjay Parthasarathy. Sanjay Parthasarathy, a former Microsoft leader who is among the notable tech execs that have ownership stakes in Seattle's new professional cricket team, has been passionate about the sport since he played it as a kid in India. He may end up being known as a key figure in making the second-most popular sport in the world a hit in the U.S., too. As the Seattle Orcas open their third season of Major League Cricket play on Saturday, Parthasarathy joined a new episode of 'Desi Roots & Routes,' a podcast produced by Seattle University's Roundglass India Center, to talk about everything from his history with the sport and how to play it, to how he hopes it can catch on in America. The episode touches on parallels between the rise of Indian technology workers and immigration reform in the U.S., as well as Parthasarathy's role in helping Microsoft take off in India. Author and journalist Greg Shaw, who has written about cricket and the Orcas, said that when immigration opened up in the 1990s with the H-1B visa, and the personal computer was taking off, Silicon Valley and Seattle saw an influx of Indian developers and programmers at places like Microsoft and elsewhere. 'With them came their passion and love for cricket,' Shaw said on the podcast. Shaw is bullish that Parthasarathy can help spur cricket's popularity in the U.S. 'What Sanjay has always been so great at is, at Microsoft, taking complicated software development and making it accessible to the masses,' Shaw said. 'And I think he's going to do that with Seattle Orcas and with Major League Cricket.' Parthasarathy is part of the deep tech community backing that has helped get the Orcas off the ground. Other notable owners include: Microsoft CEO Satya Nadella; Madrona Venture Group Managing Director S. Soma Somasegar; Icertis co-founder and CEO Samir Bodas; and GreatPoint Ventures managing partner Ashok Krishnamurthi. Parthasarathy, who was previously profiled by GeekWire, spent 19 years at Microsoft. Five years after joining the company, he told his managers in 1995 that he wanted to go to India and help Microsoft scale. The idea was born out of his return to the country six years earlier, during a summer away from MIT, and his understanding that India was poised to make a mark in the IT industry. With no experience selling anything in his life, he said he was given the OK and was named Microsoft's regional director for South Asia. Two years later, Microsoft co-founder Bill Gates made his first trip to India. 'His trip was bigger than Michael Jackson,' Parthasarathy said. 'We did 40 different meetings, and we coined the phrase 'India can be a software superpower.' It caught everybody's imagination in India. Three years after that was the Y2K challenge, which really was the beginning of the expansion of the Indian software industry. It already existed, we just happened to have lit a match at the right time.' The Seattle Orcas open the 2025 season on Saturday in a match against the Washington Freedom in Oakland, Calif., continuing alongside five other teams on the journey to grow the sport in the U.S. Learn more about watch parties in the Seattle area. Listen to the 'Desi Roots & Routes' episode below:

Apple's $4.4B India Play: The Secret iPhone Shift That's Reshaping U.S. Supply Chains
Apple's $4.4B India Play: The Secret iPhone Shift That's Reshaping U.S. Supply Chains

Yahoo

time4 hours ago

  • Yahoo

Apple's $4.4B India Play: The Secret iPhone Shift That's Reshaping U.S. Supply Chains

Apple (NASDAQ:AAPL) is ramping up its India productionand fast. From January through May 2025, Foxconn (FXCOF) shipped $4.4 billion worth of India-assembled iPhones to the U.S., already beating 2024's full-year total of $3.7 billion. Between March and May, a staggering 97% of Foxconn's $3.2 billion exports went straight to the U.S., compared to just 50% last year. The push isn't subtle: Apple has been flying out iPhone 13, 14, 16, and 16e models on chartered planes and pressing Indian officials to cut customs clearance at Chennai airport from 30 hours down to six. Warning! GuruFocus has detected 6 Warning Sign with MSFT. This shift comes as Apple looks to de-risk from China ahead of what could be another round of sweeping tariffs. Donald Trump has floated a 55% duty on Chinese goods and slammed Apple's expansion into India, reportedly telling CEO Tim Cook, We are not interested in you building in India. India, meanwhile, is trying to dodge a separate 26% reciprocal tariff on top of its standard 10%. With the stakes this high, Apple's move to reroute its supply chain through India could be less about costand more about survival. It's also about time. Apple still sells 60 million iPhones a year in the U.S., with about 80% made in China. Tata Electronics, Apple's smaller Indian partner, is also stepping up. Nearly 86% of its March and April shipments went to the U.S., up from 52% across 2024. Analysts at Counterpoint Research believe India-made iPhones could hit 2530% of Apple's global shipments this yearup from just 18% in 2024. But India's still an expensive bet. High import duties on components make local assembly far from cheap. Still, Apple appears willing to absorb the extra costs in exchange for agility. The numbers suggest this isn't a trial run. It's a full pivot. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store