December exports rise 28% from pre-pandemic level

First 3 weeks of month record $24 bn

India’s merchandise exports have hit $23.82 billion in the first three weeks of December, almost 28% higher than in the same period in the pre-COVID year 2019, the Commerce Ministry said on Monday.

The country’s exports in November stood at $30.04 billion, but imports had surged faster taking the country’s trade deficit that month to a record $22.9 billion.

“Exports in the first three weeks of this month are 36.2% [higher] over the same period of 2020 and up by 27.7% from the corresponding weeks in December 2019,” an official said, adding that outbound shipments in the third week of this month accounted for about $7.36 billion.

“Goods exports, excluding petroleum products, increased in this three-week period by 28.08% compared to 2020 and 28.75% over the corresponding period of 2019-20,” the official added.

$120-bn deficit this fiscal

Total merchandise exports between April and November of 2021 were $263.57 billion, while the total imports stood at $384.34 billion, leading to an overall trade deficit of more than $120 billion so far in this financial year.

GoDaddy Stock Up 9% On Starboard Value Investment News

Shares of GoDaddy Inc. (GDDY) are gaining nearly 9% on Monday morning following the news that activist investor Starboard Value has acquired a stake in the internet domain registrar and web hosting company.

GDDY is currently trading at $82.77, up $6.77 or 8.91%, on the NYSE. This is the highest the stock has traded in nearly 5-month period.

New York-based Starboard Value, in a regulatory filing, disclosed a 6.5% stake in GoDaddy. The company also said it believes GoDaddy is undervalued and it may push for changes to improve the stock’s performance.

Starboard said it may meet with management and the board as part of the investment to discuss ways to improve shareholder value, including potential board and operational changes, as well as business combinations.

With a Spin and a Twist, Sardinian Pasta Brings the Party

Bona Furtuna, an online retailer of Italian foods, has added three new dried pastas to its lineup, all made in Sardinia.

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By Florence Fabricant

A Rainbow of Cooking Dishes

These Sowaca ceramic vessels from Gifu in Japan are a colorful way to serve up dinner.

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By Florence Fabricant

Starboard Value builds 6.5% stake in GoDaddy, sending shares up 9%

Activist investor Starboard Value has taken a 6.5% stake in GoDaddy, sparking a rally in shares of the web services company.

The hedge fund bought more than 10,000 shares of GoDaddy, worth about $800 million, according to a regulatory filing. The new stake became the biggest holding for Starboard.

Shares of GoDaddy jumped more than 9% on the news Monday.

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The stock is flat on the year even as the company experienced a surge in online traffic amid the Covid-19 pandemic.

The Wall Street Journal first reported Starboard's stake.

Starboard Value and GoDaddy did not immediately respond to CNBC's requests for comment.

Starboard Value CEO Jeff Smith has been a prolific activist investor even during the pandemic as he pushed for changes in companies across the veterinary, chemicals and health-care industries.

Starboard Value manages about $6.2 billion in assets, according to filings through the first quarter of 2020. Smith spun the New York-based hedge fund out of investment firm Ramius in 2011.

— CNBC's Jesse Pound contributed reporting.

A Year of Shabbats in One Cookbook

A new book from Faith Kramer looks at Jewish food around the world through the lens of the Friday night dinner.

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Two-Year Note Auction Attracts Modestly Above Average Demand

Kicking off this week’s series of announcements of the results of its long-term securities auctions, the Treasury Department revealed Monday that this month’s auction of $56 billion worth of two-year notes attracted modestly above average demand.

The two-year note auction drew a high yield of 0.769 percent and a bid-to-cover ratio of 2.55.

Last month, the Treasury sold $58 billion worth of two-year notes, drawing a high yield of 0.623 percent and a bid-to-cover ratio of 2.36.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

The ten previous two-year note auctions had an average bid-to-cover ratio of 2.51.

Looking ahead, the Treasury is due to announce the results of this month’s auctions of $57 billion worth of five-year note and $56 billion worth of seven-year notes on Tuesday and Wednesday, respectively.