JSW joint venture

Mumbai, June 16: JSW Steel has formed a 49:51 joint venture with a UK-based trader to set up a greenfield facility in the Republic of Georgia. The unit, to be set up at an investment of $42 million, will produce long products . Declining to disclose the identity of the joint venture partner, JSW Steel’s director (finance) M.V.S. Seshagiri Rao said the company would have an initial production capacity of 1.75 lakh tonnes and the plant would be commissioned in the current fiscal.

FDI policy

New Delhi, June 16: The Centre has issued Press Note 7 highlighting the policy and regulations governing foreign direct investment in India, including the policy review undertaken in January.

Sahara dispute

Mumbai, June 16: Discussions will continue between the Sahara group and the RBI on the former’s para-banking arm after their second meeting ended late tonight on a positive note, sources said. Sahara chief Subrata Roy, along with some senior group officials, today resumed discussions with the rbi.

DLF plan

New Delhi, June 16: DLF and Unitech have deferred their plan to launch initial public offerings of their office trust to raise over $2.5 billion in Singapore and will wait for market conditions to improve.

GDP growth

Mumbai, June 16: India’s real GDP is expected to grow at 9.5 per cent in 2008-09 fiscal, the Centre for Monitoring Indian Economy (CMIE) has said. The growth is expected to be driven by capital investments in the country, CMIE said.

Edible oil

New Delhi, June 16: India’s edible oil import declined 39 per cent in May to 3.02 lakh tonnes as traders and refiners reduced inventory because of stock limit imposed by various state governments, the Solvent Ex- tractors’ Association of India said today.

Barclays move

London, June 16: Barclays plans to sell billions of pounds worth of shares to new and existing shareholders, sending its shares soaring on Monday.