LG claims its new ‘Real Folding Window’ display material is as hard as glass

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Samsung’s Galaxy Z Fold 3 Z Flip 3 devices did very well in their home country, market research groups like Counterpoint believe foldable shipments are bound to grow in the coming years. Foldable devices might soon no longer be niche products, LG has developed a new material that could help make that a reality. LG Chem has designed a new type of cover window — that is, the outermost pre-installed part of displays protecting them from impact — that it says is as hard as glass while also having the capability to prevent fold impressions on the connecting part of a device. 

The company calls the material “Real Folding Window,” it’s made of PET film coated on both sides with a new coating technology it developed. A spokesperson explained: “Unlike existing polyimide films tempered glass-type materials, the cover window that applied LG Chem’s new coating technologies will maximize flexibility, while also providing optimized solutions for foldable phones such as making improvements to chronic issues like fold impressions on the connecting part of the screen.”

In addition, the Real Folding Window can be folded both outwards inwards unlike current counterparts that are optimized to be bent one way. LG Chem says it’s thinner than tempered glass, is priced competitively has been tested to be able to endure being folded over 200,000 times. 

While the coating on both sides is only a few micrometers thick, the company is developing another type of Real Folding Window that doesn’t use PET film. The idea is to create a very thin cover window for use in devices like foldable phones rollable displays. LG Chem is planning to start mass producing the Real Folding Window in 2022 to start selling them the year after that. 

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‘Govt considering foreign institutional investment of up to 20% in LIC IPO’

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Indian government is considering allowing foreign institutional investment of up to 20% in Life Insurance Corporation, according to a government source, reported Reuters on Wednesday.


The listing of LIC is set to be India’s biggest ever IPO, with the government aiming to raise up to Rs 90,000 crore ($12.24 billion) from its stake sale.





Goldman Sachs Group Inc., JPMorgan Chase & Co. ICICI Securities Ltd. were among banks picked to work on Life Insurance Corp. of India’s initial public offering, in what’s set be the nation’s biggest listing, Bloomberg reported last month.




Kotak Mahindra Capital Co., JM Financial Ltd., Citigroup Inc. Nomura Holdings Inc. were also selected to work on the share sale that’s slated for early next year, after 16 investment banks presented their pitches to the government, people with knowledge of the matter said, asking not to be identified because the information isn’t public. 




Banks will start engaging with investors from September, with a potential listing expected between January March next year, one of the people said.


 

(Only the headline picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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PayPal acquires buy now, pay later provider Paidy

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PayPal is continuing its push into buy-now-pay-later (BNPL) services with the acquisition of Japanese company Paidy for 300 billion yen ($2.7 billion), Bloomberg has reported. That represents its second largest acquisition to date after the $4 billion dollar purchase of online coupon aggregator Honey. 

BNPL services let users divide purchases into multiple payments with paying any interest. Instead, PayPal other providers make money by charging fees to merchants when a consumer buys a product, much as credit card providers do. PayPal’s move follows Jack Dorsey’s Square much larger acquisition of Australian BNPL firm AfterPay for $29 billion. 

Paidy differs from other BNPL firms in that it allows Japanese consumers to purchase items online then pay them off in person at local convenience stores. PayPal doesn’t currently offer a BNPL service in Japan, so the acquisition will help it break into that market. 

“Paidy pioneered buy-now-pay-later solutions tailored to the Japanese market,” said PayPal Japan chief Peter Kenevan. “Combining Paidy’s brand, capabilities talented team with PayPal’s expertise, resources global scale will create a strong foundation to accelerate our momentum in this strategically important market.”

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Gadhafi’s son freed after 7-plus years in detention, officials say

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CAIRO — Libyan authorities on Sunday released one of Muammar Gadhafi’s sons after more than seven years of detention in the capital of Tripoli following his extradition from neighboring Niger, the country’s interim leader said.

Prime Minister-designate Abdul Hamid Dbeibah said in a tweet early Monday that al-Saadi Gadhafi had been released in compliance with a previous court order.

Mohamed Hamouda, a spokesman for the transitional government, said the son walked free from Tripoli’s al-Hadaba prison, where many Gadhafi regime officials are being held pending trial, mostly in connection to the crackdown on the 2011 uprising that toppled the longtime ruler led to his killing. Hamouda did not elaborate on the circumstances of the son’s release.

Local media reported al-Saadi Gadhafi was released after he was acquitted on charges dating back to the uprising against his father’s rule. Following his release, he traveled to Turkey, according to the al-Marsad news website.

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“We cannot move forward without achieving reconciliation,” Dbeibah said in the tweet announcing the release. His government has been given the task of leading the war-wrecked country to elections before the end of this year.

At the time of the 2011 revolt, al-Saadi Gadhafi headed a special forces brigade that was involved in the crackdown on protesters rebels.

Al-Saadi Gadhafi, son of the late Libyan leader Muammar Qaddafi, watches a military exercise by the elite military unit commanded by his brother, Khamis, in Zlitan – 90 miles southeast of Tripoli, Libya, in a photo released in 2011. (Associated Press)

He was smuggled across the desert to Niger in 2011 just as his father’s regime was crumbling. He was extradited in March 2014 after he, as well as colleagues who accompanied him, “failed to respect the conditions of his stay in Niger,” the West African nation’s government said at the time.

The dictator had eight children, most of whom played significant roles in his regime. His son Muatassim was killed at the same time Gadhafi was captured slain. Two other sons, Seif al-Arab Khamis, were killed earlier in the uprising.

Seif al-Islam, the one-time heir apparent to his father, has been in Libya since his release from detention in 2017. Another son, Hannibal, is reportedly detained in Lebanon.

Libyan leader Moammar al-Qaddafi is seen in Damascus, Syria, in 2008. He was assassinated in 2011. (Associated Press)

Libyan leader Moammar al-Qaddafi is seen in Damascus, Syria, in 2008. He was assassinated in 2011. (Associated Press)

The rest of the children are still at large having sought asylum in neighboring Algeria along with Gaddafi’s wife al-Saadi’s mother, Safiya. The mother, a sister two brothers were granted asylum in Oman in 2012 moved there from Algeria.

During his father’s rule, al-Saadi Gadhafi was known for his lavish lifestyle he treated Libya’s soccer league as his personal fiefdom. He played for several Libyan teams — for an Italian team until he failed a drug test. At various times, he headed Libya’s soccer federation its national team.

In one case, security forces opened fire on fans at a 1996 match attended by al-Saadi, killing a number of people in murky circumstances. He is also suspected in the 2005 killing of Bashir al-Riyani, a popular Libyan soccer player who was a vocal critic of Gadhafi’s regime.

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Following his extradition, prosecutors in Libya said he faced charges in connection to abductions rapes during the 2011 uprising, misuse of his post the killing of al-Riyani.

The elder Gadhafi ruled Libya with an eccentric brutality for nearly 42 years before he was ousted by an uprising in August 2011. He was captured killed two months later.

The oil-rich country plunged into chaos after the uprising has been ruled for most of the past decade by rival governments based in Libya’s west the east, each backed by armed groups foreign governments.

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Late stage technology deals at an all time high in India: IVCA-EY report

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The average ticket size of late stage technology deals is at an all-time high so far in 2021 compared to the last two years, with a total of 500 deals attracting venture capital funding to the tune of $17.2 billion in the first half of 2021 compared to a total of $11.1 billion in 2020, a new report has found.


The number of early stage deals saw a significant dip of almost half compared to 2019, the “State of Indian Markets: Investment Environment (Startup) Report” by Indian Private Equity Venture Capital Association (IVCA) EY says.





The study found 245 early stage deals so far in 2021, compared to 498 deals in the same time in 2019.


It further said there have been many deals above $20 million this year with a surge in the velocity of funding into startups by VCs.


Karthik Reddy, vice chairman of IVCA, managing Partner of Blume Ventures, said, “2021 has unfolded into one of the most unexpected aggressive phases of consumer business adoption of digital, spurring the urgency amongst entrepreneurs, financial strategic investors to rapidly double down on their digital forays. It promises to be an unprecedented decade of growth for digital tech businesses in India.”


Among overall sector-wise trends deals, fintech (financial technology) topped the charts with 61 deals followed by edtech (education technology) with 42 deals.


India ranked third in terms of a total number of unicorns, or businesses valued above $1 billion, in 2020 has emerged as the new home of unicorns, with 21 new ones added in the first half of 2021.


Simultaneously, the potential pipeline expanded by 1.5 time, with nearly 8 per cent of global unicorns having a technology center in India. Investments have rebounded strongly with startup investments in the first half of 2021 surpassing total investments made in 2020.


More than 135 corporations are actively participating in investing, acquiring or partnering with start-ups. Currently, investments mergers acquisitions (M&A) recovery are in line with global trends, the report said.


“2021 has so far been a landmark year on multiple fronts – fund inflows, a groundswell shift to online services, IPO/exits becoming a reality, increase in the M&A for scale skill. While the investment activity has accelerated, there is a need to have a metered approach to build long-term sustainable businesses shareholder value,” said Ankur Pahwa, partner, E-commerce Consumer Internet leader – EY.


Tier-2 cities are leading the way, not only in adoption but also in startups, which shows a gradual shift from addressing urban challenges.


Due to the Covid-19 pandemic, 2020 has provided tailwinds to digital adoption. The digital maturity of the Indian enterprise has doubled, while Internet penetration has expanded to over 750 million subscribers.


Uncertainty rapid experimentations have shifted the founder mindset a new playbook is emerging for the post-Covid world. Collaboration, employee experience, frugality, global expansion are key to founders today.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information commentary on developments that are of interest to you have wider political economic implications for the country the world. Your encouragement constant feedback on how to improve our offering have only made our resolve commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed updated with credible news, authoritative views incisive commentary on topical issues of relevance.

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