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Capital Goods Construction and Engineering

  • SAO PAULO, Feb 6- Brazil's government said on Monday it was raising income limits for a subsidized mortgage program in an effort to spur the country's struggling construction industry and spark a long-awaited recovery from the worst economic recession on record. Brazil aims to finance 610,000 new homes with the mortgage program this year, which stalled last...

  • *Toshiba withdraw from lead role in India negotiations- sources. LONDON/ TOKYO, Feb 3- Toshiba Corp plans to withdraw from its lead role in projects to build nuclear plants in Britain and India, sources with direct knowledge of the matter said, marking a retreat as it wrestles with an imminent multi-billion dollar writedown. But it would throw into question the...

  • SAO PAULO, Feb 2- Brazil's government is expected to dedicate 500 million reais of a national workers' severance fund to finance purchases of more expensive homes, a move designed to help homebuilders lower inventory, the head of an industry group said on Thursday. Under the plan, the government will raise the price threshold of homes eligible for FGTS financing...

  • SAO PAULO, Feb 2- Brazil's government plans to dedicate an additional 500 million reais of the FGTS workers' severance fund to home financing and raise the price threshold of eligible homes nearly 60 percent to as much as 1.5 million reais, José Carlos Martins, president of construction industry group CBIC, said on Thursday. Martins said the government also...

  • KHOBAR, Saudi Arabia, Feb 2- State oil giant Saudi Aramco is considering expanding its oil and gas production from the Berri offshore oilfield, industry sources told Reuters. Aramco has invited companies to bid for several packages of front-end engineering and design work on the project, which one source estimated could cost $6 billion. Last month, Aramco chief...

  • LONDON, Feb 2- Britain's construction industry grew last month at the weakest rate since August against a backdrop of rocketing costs linked to the Brexit vote, but builders were more upbeat about the year ahead, an industry survey showed on Thursday. The index also showed the sharpest rise in costs since August 2008, as sterling's slide since the referendum...

  • MEXICO CITY, Jan 30- Brazilian construction firm Odebrecht, under investigation for paying hundreds of millions in bribes across Latin America, withdrew its bid to build a bridge over the Panama canal, the president of the Central American nation said on Monday. Last week, Panama prosecutors said they had charged 17 people, including several businessmen and...

  • LIMA, Jan 27- Grana y Montero, Peru's biggest construction conglomerate, reported a fourth-quarter net loss of 130 million soles on Friday, citing corruption concerns about its partner that derailed a major project. Peru terminated the contract this week over a missed financing deadline amid a graft scandal involving Odebrecht S.A., capping months of...

  • BRASILIA, Jan 27- Brazil is studying private operation of the long-delayed Sao Francisco river transfer that will bring water to four states in the drought-stricken North East of the country when it is completed this year, a government official said on Friday. President Michel Temer will visit the project on Monday to open the third of six pumping stations on...

  • *New single-family home sales fall 10.4 percent in December. WASHINGTON, Jan 26- New U.S. single-family home sales fell to a 10- month low in December after three straight months of solid gains, but the housing market recovery remains intact as a tightening labor market boosts wage growth. The Commerce Department said new home sales dropped 10.4 percent to a...

  • *New single-family home sales fall 10.4 percent in December. WASHINGTON, Jan 26- New U.S. single-family home sales fell to a 10- month low in December after three straight months of solid gains, but the housing market recovery remains intact as a tightening labor market boosts wage growth. The Commerce Department said new home sales dropped 10.4 percent to a...

  • Pulte, which mainly sells single-family homes, said the average price of homes sold increased to $391,000 from $353,000 a year earlier, while the number of homes sold rose to 6,197 from 5,662.. The company's net income rose to $273.2 million, or 83 cents per share, in the quarter, from $228 million, or 64 cents per share, a year earlier. Excluding 16 cents per share of...

  • Jan 26- U.S. homebuilder PulteGroup Inc reported on Thursday a 19.8 percent increase in quarterly profit, helped by sales of more homes at higher prices. Net income rose to $273.2 million, or 83 cents per share, in the fourth quarter ended Dec. 31, from $228 million, or 64 cents per share, a year earlier. Revenue rose 20.9 percent to $2.49 billion.

  • SINGAPORE, Jan 25- Australia's over $35 billion Ichthys liquefied natural gas export project has been dealt a blow as engineering firm CIMIC, involved in building the facility's power station, announced on Wednesday it was pulling the plug. "CIMIC Group advises that the... consortium... has terminated its contract with JKC Australia LNG Pty Ltd for the design,...

  • A closer look at the rally in construction stocks

    Kevin Cook, Zacks Investment Research, says that the construction was already heating up before President Trump won the election.

  • SINGAPORE, Jan 25- Australia's over $35 billion Ichthys liquefied natural gas export project has been dealt a blow as engineering firm CIMIC, involved in building the facility's power station, announced on Wednesday it was pulling the plug. "CIMIC Group advises that the... consortium... has terminated its contract with JKC Australia LNG Pty Ltd for the design,...

  • SINGAPORE, Jan 25- Australia's $34 billion Ichthys liquefied natural gas export project has been dealt a blow as engineering firm CIMIC involved in building the facility's power station announced on Thursday it was pulling the plug. "CIMIC Group advises that the... consortium... has terminated its contract with JKC Australia LNG Pty Ltd for the design,...

  • This VC is interested in 'construction tech'

    Kent Ho, co-founder of Spectrum 28, discusses how the VC firm is focused on startups in the fintech, construction tech and genomics spaces.

  • PANAMA CITY, Jan 24- Panama prosecutors said on Tuesday they had charged 17 people, including several businessmen and former government officials, with money laundering as part of the case of millions of dollars worth of bribes paid by Brazilian construction firm Odebrecht S.A.. Attorney General Kenia Porcell declined to name the accused, but local media...

  • WASHINGTON, Jan 24- U.S. home resales fell more than expected in December as the supply of houses on the market dropped to levels last seen in 1999, but the housing market recovery remained intact against the backdrop of a tightening labor market. The National Association of Realtors said on Tuesday existing home sales decreased 2.8 percent to a seasonally...