Current Affairs - Business

The State Bank of India (SBI) sold a 13.18% stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for ₹8,889 crore, marking one of the largest cross border deals in India’s banking sector. This transaction highlights growing global investor confidence in India’s financial reforms and the strengthening of strategic banking ties between India and Japan. The sale, which involved 413.44 crore equity shares, was completed after approvals from the RBI, CCI, and SBI’s board. Importantly, SBI retains a minority stake in Yes Bank, while SMBC now has clearance to raise its stake further, up to 24.99%.

Apollo Tyres secured the role of Team India’s lead sponsor after winning a highly competitive bidding process organized by the BCCI. The ₹579 crore agreement covers 121 bilateral matches and 21 ICC fixtures from 2025 to 2028, replacing Dream11 as the previous sponsor. Apollo Tyres outbid Canva and JK Cements, setting one of the highest sponsorship values in Indian cricket history. This partnership provides Apollo with prime visibility on the Indian team’s jerseys across some of the most globally watched cricket tournaments, enhancing its international recognition and expanding its market presence in over 100 countries.

SAJEX 2025 was launched in Jeddah as part of India’s efforts to boost jewellery trade with Saudi Arabia and the Gulf Cooperation Council (GCC). Organised by the Gem & Jewellery Export Promotion Council with support from the Indian Consulate in Jeddah, the Indian Embassy in Riyadh, and the Ministry of Commerce & Industry, the event was hosted at the Jeddah Superdome from September 11–13. Featuring over 200 exhibitors and thousands of buyers, it showcased diamonds, coloured gemstones, gold jewellery, and lab-grown diamonds. This initiative aligns with Saudi Arabia’s Vision 2030 and underscores India’s leadership in the global jewellery industry.

Oracle co-founder Larry Ellison surpassed Elon Musk to become the world’s richest person in September 2025, with his net worth soaring to $395.7 billion. This dramatic rise was fueled by a 41% surge in Oracle’s stock, its biggest jump since 1992, largely driven by booming demand for AI and cloud computing services. Oracle’s strong revenue forecasts and rapid cloud growth positioned the company as a major contender against tech giants like Microsoft, Amazon, and Google. Ellison’s wealth increase of $101 billion in a single day highlights the transformative impact of AI-driven enterprise solutions on global markets and billionaire rankings.

Skechers has appointed Mohammed Siraj, one of India’s leading fast bowlers, as its brand ambassador to expand its presence in the cricket footwear market. Known for his pace and consistency, Siraj has become a standout performer in both international cricket and the IPL. His inspiring journey and growing popularity among the youth make him an ideal fit for Skechers’ campaign, which aims to highlight performance-driven products at affordable prices. With this collaboration, Skechers seeks to strengthen its foothold in India’s cricketing landscape and position itself alongside global sportswear giants like Adidas, Puma, and Nike.