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Construction: Growth driver or drag?

February 22, 2010

Increased productivity could help the industry achieve even more! Which industry sector has grown the fastest two years in a row? While many might think no sector grew during the recession, the real answer is “construction”. The sector grew more than 20 per cent in 2008 and growth continued at double-digit levels during the economic [...]

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BP announces `giant’ oil find in Gulf of Mexico

September 2, 2009

LONDON (AP) — BP PLC said Wednesday that it had made a “giant” oil discovery in the Gulf of Mexico but had not yet determined the size and commercial potential of the find. The well, in Keathley Canyon block 102 about 250 miles (400 kms) southeast of Houston, is in 4,132 feet (1,259 meters) of [...]

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April construction spending rises

June 3, 2009

Total U.S. construction spending rose 0.8 percent in April, the biggest one-month increase since August 2008, and was led by a jump in both private and residential construction. A Bloomberg survey of 45 economists had projected a median drop of 1.5 percent. The Commerce Department’s report from the Census Bureau says spending on private construction [...]

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Despite Sinking Economy, Work Begins on Super-Tall Shanghai Tower

December 15, 2008

Defying signs that the global economy is in a major downturn, the 2,074-foot-tall Shanghai Tower, designed by Gensler, broke ground on Friday, November 28. The mixed-use glass-and-steel tower is slated to be the tallest building in China.  While construction of other skyscrapers, such as Norman Foster’s Moscow Tower and Santiago Calatrava’s Chicago Spire, has been [...]

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Credit Crunch May Block 20% of Deep Oil Rigs, Slow Petrobras

October 30, 2008

As many as 20 of the 100 deepwater oil rigs on order worldwide may be delayed or canceled as loan availability erodes, possibly slowing developments including the biggest petroleum discovery in the Americas in three decades. About half of the 20 rigs in question are rented for when they’re completed in two to three years [...]

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Credit troubles not so distant

October 1, 2008

Some projects for city, state could be delayed The list of casualties stemming from the credit crisis is about to get longer. Local governments, long dependent on debt as a bedrock financing mechanism, could be forced to put off or even scrap plans for new schools, sports stadiums, even road and bridge projects as credit [...]

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Rowan, Pride jackups believed sunk in Gulf

September 22, 2008

Rowan Companies Inc. is missing one of its nine rigs in the Gulf of Mexico and is assuming the worst. According to Rigzone.com, Houston-based Rowan thinks the Rowan-Anchorage jackup capsized and sank at its pre-storm location in Vermillion Block 201 off the coast of Louisiana. All personnel were evacuated from the jackup before Hurricane Ike [...]

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AIA and USGBC To Form a Strategic Alliance

September 6, 2008

When the American Institute of Architects and the U.S. Green Building Council jointly announced on May 28 their intent to form a strategic alliance, many in the industry wondered exactly what that meant. One question that arose: Is the AIA getting ready to endorse LEED? “No,” is the answer from both sides, although Peter Templeton, [...]

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London Revs Up for 2012 Summer Olympics

September 6, 2008

When it started preparing for the 2012 Summer Games, the Olympic Delivery Authority (ODA) put two key items on its agenda: contribute to East London’s ongoing revitalization in a sustainable way, and avoid “white elephant” venues that would not be used after the Games end. As part of that vision, in March it announced that [...]

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