Bloomberg India’s market regulator ordered billionaire Mukesh Ambani and his conglomerate Reliance Industries Ltd to pay a combined penalty of 400 million rupees ($5.5 million) for allegedly violating share-trading rules about 13 years ago. In its order, the Securities and Exchange Board of India (Sebi) said Reliance and its agents operated to allegedly earn undue profits from the sale of ...

Bloomberg Mahindra & Mahindra is in discussions with an investor for selling a majority stake in Ssangyong Motor as India’s largest SUV maker reassesses its investments amid pandemic. Mahindra will hold 30% or less in Ssangyong if the deal goes through and will also do a 25% capital reduction, Pawan Goenka, managing director of the Indian automaker said. It expects ...

Bloomberg China’s economic recovery could be past its peak and beginning to stabilise as the year draws to a close, with a key manufacturing gauge moderating in December after an export-fueled boost to production. The official manufacturing purchasing managers’ index (PMI) fell to 51.9 from a three-year high of 52.1 in November, the National Bureau of Statistics said, lower than ...