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...The businessman is the youngest son of the late Onsi Sawiris, who founded a construction company in the 1950s and built it over decades into a large multinational corporation now called Orascom Construction...
...On Thursday it also agreed a £80mn construction loan for new serviced apartment buildings, and replaced an existing construction facility with a £132mn loan on a mixed-use building that includes offices,...
...Targeted public support can sometimes play a catalytic role in cases of market failure, but can never be a general solution to strengthen the economy at large....
...at the research company Capital Economics....
...Rivian is pausing construction of a new factory in Georgia and instead plans to build its new, less expensive sport utility vehicle at its plant in Illinois....
...Rivian is pausing construction on building a new factory in Georgia and instead plans to build its new, less expensive sport utility vehicle at its plant in Illinois....
...Matthew Pointon, senior property economist at the research company Capital Economics, said commercial construction had “been contracting since September last year as developers wait for the outlook to stabilise...
...Tim Moore of S&P Global Market Intelligence said construction companies were “increasingly optimistic that the worst could be behind them soon as recession risks fade and interest rate cuts appear close...
...a mainland Chinese real estate company....
...Construction, real estate and financial services companies were particularly at risk of default....
...Pål Kildemo, chief financial officer of the Norwegian company, said this construction crash because of high rates and rising building costs had hit the aluminium sector hard, undermining earnings of Hydro...
...Mark Hoplamazian, chief executive of US hospitality group Hyatt, said building new hotels had become harder due to “very tough” markets for raising capital, causing the company to turn instead to converting...
...But he said “expectations of falling interest rates during the months ahead” appeared to have supported confidence at construction companies....
...The Insolvency Services said construction was the most affected sector, accounting for 18 per cent of insolvencies in the 12 months to February....
...February’s figure was bolstered by growth of 7.9 per cent in the construction sector, reflecting unseasonably dry weather....
...Meanwhile in another sign of California’s catalytic role, US president Joe Biden announced at UNGA this week that a programme pioneered in that state to train young workers in green tech was now being rolled...
...PGM producers are struggling with a structural decline in demand caused by the shift to electric vehicles, which displace combustion engine vehicles that need those metals to produce catalytic converters...
...The company also cut the dividend to $0.96 per share for a total of $1.2bn for 2023 — a 52 per cent fall on the year....
...The ensuing Chips Act aims to encourage construction of new chip fabrication facilities (fabs) in the US....
...Construction materials group Breedon has had an eventful 12 months....
...Umicore has been hit hard by the falling price of platinum, palladium and rhodium, which has affected its combustion engine business as these metals are components of catalytic converters....
...Economists expect the weakness in the construction sector to continue as interest rates remain elevated....
...A survey by the German Chamber of Commerce and Industry (DIHK) in November found that just over half of the country’s construction companies were struggling to fill vacancies....
...Meanwhile, Ford has paused construction on a $3.5bn electric vehicle battery plant in Michigan using technology from another Chinese company CATL, amid Republican criticism and an autoworkers’ strike Canada...
...The company expects to build 7,500 homes in the 12 months to July, down from almost 11,000 in the same period a year ago. Shares were broadly flat in morning trading on Tuesday....
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