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Construction and Engineering

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  • DUBAI, June 30- Dubai said it would construct a small office building using a 3 D printer for the first time, in a drive to develop technology that would cut costs and save time as the city grows. Dubai's one-storey prototype building, with about 2,000 square feet of floor space, will be printed layer-by-layer using a 20- foot tall printer, Mohamed Al Gergawi, the...

  • LONDON— Britain's economy grew faster than previously estimated in the first quarter of 2015, thanks to a rise in construction output. Chris Williamson, chief economist at Markit, says the upward revision will heap pressure on Bank of England policymakers to consider hiking interest rates— particularly as there is now evidence of rising incomes and pressure...

  • KINGSTON, Jamaica— The developer of a $3.5 billion hotel-and-casino project under construction in the Bahamas announced Monday that it has filed for U.S. Baha Mar Ltd. said the U.S. filings were being done "voluntarily" in an effort to complete construction and open the megaresort touted as the most expensive project ever undertaken in the Bahamas.

  • LONDON, June 29- Britain and Canada signed a memorandum of understanding on Monday to strengthen ties between the two countries' nuclear energy industries. The MoU was signed in London by Canada's High Commissioner Gordon Campbell and Lee McDonough, director of the Office of Nuclear Development for the UK Department of Climate Change. Canadian reactor maker...

  • Sydney's crazy housing market no mere craze Saturday, 27 Jun 2015 | 9:00 PM ET

    *Home price growth in Sydney in double digit percentage. *Sydney property also luring Asian money. SYDNEY, June 28- Outlandish property prices make daily headlines in Sydney- a peeling 1900 s three-bed with no kitchen sink for A $2.6 million, a parking space in Kirribili for A $120,000- and first-time buyers have little prospect of relief.

  • Business events scheduled for the coming month Friday, 26 Jun 2015 | 6:27 AM ET

    WASHINGTON— Institute for Supply Management releases its manufacturing index for June, 10 a.m.; Commerce Department releases construction spending for May, 10 a.m.. WASHINGTON— Labor Department releases weekly jobless claims, 8:30 a.m.; Labor Department releases employment data for June, 8:30 a.m.; Freddie Mac, the mortgage company, releases weekly mortgage...

  • SAO PAULO, June 19- Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, and accused his family-run conglomerate of spearheading a $2.1 billion bribery scheme at state-run oil firm Petrobras. Police also apprehended Otavio Marques Azevedo, CEO of Andrade Gutierrez,...

  • June 24- Lennar Corp, the second-largest U.S. homebuilder, reported a better-than-expected jump in quarterly profit as it sold more homes at higher prices across the United States, especially in the West and Southeast Florida markets. Homebuilders Meritage Homes Corp, KB Home, PulteGroup Inc, D.R. Horton Inc and many of the sector's other stocks were trading 1-3...

  • New York University study projects single-contract savings Wednesday, 24 Jun 2015 | 10:22 AM ET

    ALBANY, N.Y.— A report from New York University on Wednesday projected major savings from combining contracts to design and build public works, citing savings from the approach already in use on the new Tappan Zee Bridge. NYU's Rudin Center for Transportation Policy and Management said 41 states use so-called design-build for most public construction, while...

  • June 24- Lennar Corp, the second-largest U.S. homebuilder, reported a better-than-expected 33 percent jump in quarterly profit as it sold more homes at higher prices. New home orders climbed about 18 percent in the second quarter ended May 31, compared with a year earlier, Lennar said, and grew at about the same pace as in the first quarter. Net income attributable to...

  • Lennar's profit rises 33 pct on higher home sales Wednesday, 24 Jun 2015 | 6:11 AM ET

    June 24- Lennar Corp, the No.2 U.S. homebuilder by sales, reported a 33 percent rise in quarterly profit as it sold more homes at higher prices, and said orders rose 17.6 percent. Net income attributable to Lennar rose to $183 million, or 79 cents per share, for the second quarter ended May. 31, from $137.7 million, or 61 cents per share, a year earlier. Total revenue rose 31.5...

  • WASHINGTON— Purchases of new U.S. homes surged in the Northeast and West in May, as steady job growth over the past year has lifted the real estate sector. The Commerce Department said Tuesday that new-home sales rose 2.2 percent last month to a seasonally adjusted annual rate of 546,000, the strongest pace since February 2008. "The robust demand in the housing...

  • U.S. new home sales rise to seven-year high in May Tuesday, 23 Jun 2015 | 10:00 AM ET

    WASHINGTON, June 23- New U.S. single-family home sales increased in May to a more than seven-year high, further brightening the outlook for the housing market and the broader economy. The Commerce Department said on Tuesday sales rose 2.2 percent to a seasonally adjusted annual rate of 546,000 units, the highest level since February 2008. Housing is being buoyed...

  • *Qatar plans $200 billion in infrastructure spending. *Qatar has sidelined less essential projects. "Qatar has mothballed a lot of vanity projects," said a source at a construction company operating in Qatar who spoke on condition of anonymity.

  • Ahead of the Bell: US new-home sales Tuesday, 23 Jun 2015 | 6:29 AM ET

    WASHINGTON— The Commerce Department reports on sales of new homes in May at 10 a.m. Eastern Tuesday. Approved building permits rose increased 11.8 percent to an annual rate of 1.28 million, the highest level since August 2007, the Commerce Department reported last week. Tight supplies have lifted prices, which have climbed 7.9 percent over the past 12 months to an...

  • *Q1 house prices climb 1.6 pct q/q, Sydney up over 3 pct. SYDNEY, June 23- Australian house prices have risen for the 10th straight quarter led by another outsized gain in Sydney, adding to concerns about an overheating market and diminishing affordability in the city. The heat was again very much concentrated in Sydney where prices were up over 13 percent on the year,...

  • RIO DE JANEIRO— Brazil's prosecutors investigating a big kickback scandal at state-run oil company Petrobras said Monday that they are asking U.S. authorities for help in building their case. Brazilian prosecutors say the Petrobras case involves hundreds of millions in kickbacks paid by Brazil's biggest construction and engineering firms to former...

  • MOSCOW— The Russian state-controlled company building the country's new space center has dismissed a sub-contractor after it failed to pay wages to more than 80 workers, leading them to go on strike to call attention to their plight. The problems are just the latest to befall the construction of the Vostochny Cosmodrome, which will give Russia its own facility...

  • On Monday, the National Association of Realtors is expected to report strong growth in existing home sales for May. On Wednesday, Lennar, the No. 2 U.S. homebuilder is expected to report that it had a strong second quarter. Construction materials supplier Vulcan Materials has risen 35.8 percent so far this year and home improvement and building products firm...

  • The Ryland Group Inc and Standard Pacific Corp merger announced earlier this week- the first big deal since PulteGroup Inc's buyout of Centex in 2009- is a sign of things to come. Mid-cap builders that went public recently such as Tri Pointe Homes Inc, Taylor Morrison Home Corp and William Lyon Homes are expected to be more active dealmakers than their larger...