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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,...
...It makes sense for companies to dovetail announcements....
...The company’s shares were broadly flat on Tuesday....
...UK housebuilder Crest Nicholson will cut jobs as it aims to reduce £3mn in expenses to weather the housing market downturn....
...at the research company Capital Economics....
...Her father ran a successful construction business while her grandparents were manufacturers who, as part of an import business, introduced the electric blanket to the UK....
...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...
...The company said on Monday that it does “not therefore expect to see a material improvement in trading conditions” before its annual results at the end of October....
...The FTSE 250 company said it expected adjusted profit before tax of £50mn, down from analyst expectations of £73mn....
...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...
...Crest Nicholson: Shares in the UK housebuilder fell 4.5 per cent after the company said additional costs relating to some of its sites would drag on its annual earnings....
...a mainland Chinese real estate company....
...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...
...Groundworks specialist Allma Construction and its sister company Centre Plant collapsed into administration last week with the loss of more than 180 jobs....
...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....
...Crest Nicholson updated the market last week, when the construction group indicated full-year pre-tax profit would be £41mn, 15 per cent below consensus estimates....
...Housebuilder Crest Nicholson’s profits plunged 60 per cent as the housing market reeled from the autumn “mini” Budget, and the company flagged the risk of a further downturn if interest rates keep rising...
...February’s figure was bolstered by growth of 7.9 per cent in the construction sector, reflecting unseasonably dry weather....
...To protect short-term profitability, several companies are reining in costs and some — including Crest Nicholson — are considering job cuts....
...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....
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