NOMURA SIGNS INDIA LIFE ALLIANCE

A deal that could see Nomura Holdings, Japan's largest securities firm investing in Life Insurance Corporation of India’s asset management unit has been unveiled. Reports in India's Business Standard newspaper announced the alliance yesterday. Nomura spokesman Michiyori Fujiwara told Reuters: “We signed a memorandum of understanding with LIC, which includes an investment.” The two companies are discussing the size of the investment and the details of the alliance, Fujiwara said, declining to give further details.