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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...
...A group of investors has called on Samsung’s de facto holding company to increase dividends and institute share buybacks, as pressure mounts on South Korean companies to address their low valuations....
...In 2019, Colony acquired data centre investor Digital Bridge Holdings and named its founder, Marc Ganzi, as Barrack’s successor....
...The beneficial owner is listed as a Cypriot trust, Proteas Trustee Services Ltd....
...China Construction Bank did not immediately respond to a request for comment. Additional reporting by Cheng Leng in Hong Kong...
...That can no longer be taken for granted with state-owned China Construction Bank (CCB) taking rare legal action against the troubled mainland developer Shimao Group....
...The exclusivity had been a “relevant factor” in the company’s decision to spend $1.3bn on the construction of its first phase, it said....
...The slowdown in construction and transactions that followed has not abated despite supportive efforts from Beijing....
...One government official who works on data centre construction said the vouchers would reduce AI companies’ computing costs by around 40 to 50 per cent if they opted for government-run data centres....
...“Mitigating construction and completion risk is the biggest risk these clubs face.” The other threat, which comes post-completion, is what Scoreboard will dub flatmosphere....
...The Andy Murray-backed company typically goes into existing sites — such as sports centres and shopping malls — and takes on the entire building process, including construction costs (an outdoor court costs...
...Stroll’s hope is that his F1 team’s technology and aerodynamic expertise can be used in the design and construction of a new generation of Aston Martin road cars....
...“I think this was a construction site, here, a year ago,” Wolff told reporters. “And, then, to pull that off, you really need to take your hat off....
...Lenders are exposed to developers that were once seen as financially sound, such as Country Garden Holdings....
...There have been severe construction delays, a sharp fall in housing transactions and a wider loss of confidence in the sector, which generates more than a quarter of China’s economic activity and is the...
...Credit Suisse, whose clients ploughed $10bn into funds the Swiss bank ran with Greensill, is suing SoftBank in London to try to reclaim up to $440mn borrowed by SoftBank-backed construction company Katerra...
...It has been a significant shareholder since 2015 after an associated company sold the Hope Construction Materials business to Breedon for £336mn....
...The potential default also adds to concerns over China’s property sector, which typically drives more than a quarter of the country’s economic activity but has for two years been plagued by construction...
...A prolonged slowdown has since hit housing prices amid collapsing sales and delays to construction of new apartments....
...The turmoil among property developers is hugely significant for China because construction and real estate has been the motor of much of its growth....
...exposure isn’t hugely significant at about 4 per cent of total banking assets: Investor fears are more about contagion across the 25 per cent-ish of their total assets that are in residential mortgages, construction...
...The construction costs and other expenditures will accrue as new projects are initiated.”...
...An official default would be a blow for an industry that typically drives more than a quarter of China’s total economic activity, but which has been paralysed by construction delays, declining home sales...
...For instance, that George Michael’s private company, now owned by his estate, goes by the comical name of Nobby’s Hobbies Holdings Ltd....
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