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Composite insurance licence regime may trigger M&A activity:

HDFC Life CFO The Central governments decision to issue composite insurance licences (insurers who can sell both life and general insurance policies) may increase a potential for merger and acquisition (M&A) activity in the sector, said a senior official of HDFC Life Insurance Company. He also said the proposed regulation on composite licences may result in expanding business lines for insurers.

Mukesh Ambani completes 20 years at helm of Reliance Industries

Mukesh Ambani, who took over the reins of Reliance Industries Ltd (RIL) after the sudden demise of his legendary industrialist father Dhirubhai Ambani, completes 20 years at the helm during which the company saw a 17-fold jump in revenues, 20-times surge in profit and has become a global conglomerate. Following Dhirubhai's death in 2002, Mukesh and his younger brother Anil assumed joint leadership of Reliance. While the elder brother took over as the chairman and managing director, Anil was named vice chairman and joint managing director.

IEX forms subsidiary to explore business opportunities in carbon market

Indian Energy Exchange (IEX) on Tuesday announced setting up a whollyowned subsidiary, International Carbon Exchange Private Ltd (ICX), to explore business opportunity in the voluntary carbon market. The ICX will enable participants to buy and sell voluntary carbon credits at competitive prices through its transparent & reliable platform and facilitate reduction of global GHG (green house gases) emission by 45 per cent by 2030 to get on track to limit global warming to 1.5 degrees, an IEX statement said.

Radiant Cash Management Services IPO subscribed just 53% on last day

The initial public offer of Radiant Cash Management Services was subscribed just 53 per cent on the last day of subscription on Tuesday. The Rs 388-crore initial share-sale received bids for 1,45,98,150 shares against 2,74,29,925 shares on offer, according to NSE data

Tata Digital to be the conglomerate's sole e-commerce venture:

Report The Tata group will transfer the holdings of Tata UniStore, which runs Tata Cliq, to Tata Digital, making it the sole entity for all online shopping ventures. Last week, the conglomerate increased Tata Digital's authorised capital to Rs 21,000 crore from Rs 20,000 crore and infused Rs 750 crore. It was done to repay debt and expand the business.

Apple's Japan unit gets $105 mn tax bill for sale of iPhones to tourists

The Tokyo unit of US technology giant Apple has been slapped with USD 105 million (14 billion yen) in additional taxes over bulk duty-free sales of iPhone smartphones and other Apple devices to foreign visitors, Kyodo News reported. Citing a source close to the matter Kyodo News reported that the Tokyo Regional Taxation Bureau found Apple Japan's approximately USD 1,04,16,84,000 (140 billion yen) tax-exempt sales for two years through September 2021 were made by fraudulent duty-free purchases to be resold for commercial purposes

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