Friday 1 August 2014

Balfour Beatty ends merger talks with Carillion

British construction company Balfour Beatty said on Thursday it had terminated talks with Carillion over a possible 3 billion pound ($5.08 billion) merger, only days after the possible deal was revealed. Balfour said in statement that it had ended the talks after Carillion said i


French plant makes 20,000th Bobcat telehandler

The Pontchâteau plant in Loire Atlantique in France, which produces all the Bobcat telehandlers for the world market, has just manufactured its 20,000th unit of the lifter. Xavier Larroque, Telehandler Products manager and Laurent Gicquel, Pontchâteau plant manager, p


Turner & Townsend’s Mideast revenue up 46pc

UK-based Turner & Townsend, a programme management and construction consultancy, has increased its turnover by 12 per cent to GBP357.4 million ($605 million) in the year ended April 30 with revenue jumping 46 per cent to GBP17.9 million in the Middle East. The company, which


Fifa to monitor treatment of workers in Qatar

Fifa, football's world governing body, has promised to closely monitor treatment of migrant workers building the 2022 World Cup facilities in Qatar. This assurance follows reports that labourers on the first stadium under construction have been earning less than $1 an hour an


Damac looks to list shares on Dubai bourse

Dubai luxury property developer Damac is offering investors the option of converting its Global Depositary Receipts (GDRs), listed on the London bourse, into ordinary shares that would be listed on Dubai's main stock market. Investors would get around 23.08 shares per GDR. Th


Dubai luxury home prices growth tops global average

Dubai has got the status of the best performing luxury real estate market in the Middle East, while its 6.3 per cent annual price growth of luxury homes is better than the global average recorded during the first half of the year, a report said. Dubai was ranked the 13th best per


Atkins named lead designer for Doha Metro line

Atkins, one of the world's leading design, engineering and project management consultancies, has won the lead designer contract for the Doha Metro Gold Line in Qatar. Atkins has been appointed by the consortium of contractors which is delivering the Gold Line on behalf of Qat


Dubai industrial rents continue to recover in H1

Dubai industrial rents were up strongly during the first six months (H1) of 2014 compared to a year, with seven of the nine major nine districts experiencing double digit growth, a report said. Class 2 buildings in Dubai Investments Park (47 per cent), Jebel Ali (39 per cent) and


OHL to sue Qatar Foundation over Sidra project

Spanish contractor Obrascón Huarte Lain (OHL) is planning legal action against Qatar Foundation, a leading education and cultural organisation in the country, related to a major project, reports said. A joint venture between OHL and US firm Contrack International lost its


Work starts on new Indian Embassy in Bahrain

Work is well underway on the new Indian Embassy in Bahrain, and will open its doors next year, said a top official. The structure of the new building is more than 21 per cent completed, embassy second secretary Gaurav Gandhi told our sister publication the Gulf Daily News (GDN),

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