In a rare development, the promoters of realty developer Rashmi Housing, while the company was still undergoing the Corporate Insolvency Resolution Process (CIRP), sold 82 apartments in the company’s projects in contravention of the law. The tribunal has now set aside the sale of these 82 flats and has also imposed a fine of Rs 3 lakh on each of the promoters, the Economic Times of India reported.

Word that Uruguay was seeking a trade deal with China prompted exultation at El Álamo ranch, a lush expanse of grass punctuated by cactus and herds of cattle on the eastern plains of Uruguay, the New York Times reported. Most of the cattle are destined for buyers in China, where they confront tariffs of 12 percent — more than double the rate applied to meat from Australia, the largest exporter of beef to China. Ranchers in New Zealand, the second-largest exporter, enjoy duty-free access to China.

The resolution plan put in place to revive Jet Airways is not workable due to the Jalan-Kalrock Consortium (JKC) failing to make the promised payments to creditors, Simple Flying reported. In a recent hearing, the lawyers stated that if creditors were to see any of their promised monies, Jet Airways would need to be wound up. The JKC has already received multiple extensions since 2022, both from the creditors and the court, but they seem to have failed to keep their promise. Jet Airways was originally launched in 1993 and became a household name with premium air travel in India.

The U.S. dollar being the dominant global reserve currency has been on a slow long-term downward trend, interrupted by upticks — and now we had an uptick, when the dollar gained share, Wolf Street reported. The share of the USD as global reserve currency rose to 59.0% in the first quarter of 2023, after having dropped to 58.6% in Q4, which had been the dollar’s lowest share since 1994, according to the IMF’s recent COFER data. The U.S.