Mumbai, June 28: Essar Steel International of the $15 billion Ruia-controlled Essar group has bought Servosteel, the largest independent steel processor in the United Kingdom, for an undisclosed sum. This is Essar Steel’s first buyout in the UK. According to a press release used by the company, Servosteel has a steel processing capacity of 500,000 tonnes a year.
New Delhi, June 28: The six core infrastructure industries posted a 5 per cent growth in May. The core industries, which have a combined weight of 26.7 per cent in the overall factory output, grew 3.2 per cent in May last year.
Toronto, June 28: G-20 nations agreed on a timetable to cut deficits and halt the growth of their debt, but also acknowledged the need to move carefully so that reductions in spending did not set back the fragile global recovery.