Alipay’s Strategic Exit: Selling $395M Stake in Zomato

Alipay, a unit of the Chinese conglomerate Ant Group, is set to offload its entire 3.4 percent stake in Zomato. This translates to a massive sale of approximately 296 million shares. The shares, according to market sources, are priced at ₹111.28 each, aiming to raise a substantial sum of ₹3290 crore, equivalent to about $395 million.

India’s Strategic Push to Boost Exports in Sub-Saharan Africa and Gulf Nations

Despite a global trade challenge, India’s merchandise exports rose 6.21% to USD 33.57 billion in October 2023, while imports increased 12.3% to USD 65.03 billion, driven partly by a surge in gold imports. For the April-October 2023 period, exports contracted 7% to USD 244.89 billion, and imports fell 8.95% to USD 391.96 billion​​.

JSW Steel Settles RBI’s Rs 2.79 Lakh Penalty on JISPL

JSW Steel recently took responsibility for a penalty imposed on JSW Ispat Special Products Ltd (JISPL) by the Reserve Bank of India (RBI). The penalty, amounting to Rs 2.79 lakh, was paid by JSW Steel on November 28, 2023