News Snapshot:
NEW DELHI: The Indian government wants to block Chinese investors from buying shares in insurance giant Life Insurance Corp (LIC) which is due to go public, four senior government officials and a banker told Reuters, underscoring tensions between the two nations. State-owned LIC is considered a strategic asset, commanding more than 60% of India’s life insurance market with assets of more than $500 billion. While the government is planning to allow foreign investors to participate in what is… Read More… Source: https://timesofindia.indiatimes.com/business/india-business/india-likely-to-block-chinese-investment-in-insurance-giant-lics-ipo-sources/articleshow/86445636.cms
