News Archive
Alabama sewage job drags county down the drain
25 August 2008
The largest county in Alabama is headed for the biggest municipal bankruptcy in US history, a US$3.2 billion mess caused by a corruption-riddled sewer construction project and the credit crunch.
Abu Dhabi steel prices rocket 91% in six months
25 August 2008
Steel prices in Abu Dhabi rose 91 per cent in the first half of 2008 as a construction boom in the United Arab Emirates drained the local market.
Building code lapses led to fire deaths, report says
25 August 2008
A report into the fire at the former Deutsche Bank building in New York that killed two firefighters last August has found that contractors tearing down the building didn’t have a formal demolition permit.
Turkey slow to learn $17bn quake lesson, experts warn
25 August 2008
The effects of a devastating earthquake in Turkey that killed thousands of people nine years ago are still felt keenly, but experts say politicians haven’t yet prepared the country for the next one, which is inevitable.
Who will pay most for Cambodia’s development?
22 August 2008
As investors poise to spend billions making Cambodia’s coast the next hotspot for sunseekers, human rights groups fear more violent and illegal mass evictions to make way for the resorts and supporting infrastructure.
Minimum seven years jail for Tishman embezzler
19 August 2008
A former Tishman project accountant will be sentenced to between seven and 14 years in prison for diverting US$2.8m into his own bank accounts during a university research centre project in New York.
US$2bn casino project loses top team in jet crash
15 August 2008
A major casino project in the US was dealt a severe blow last month when senior executives from the developer, the construction manager and a key subcontractor all died when their chartered jet crashed in a thunderstorm.
Sin City developers jittery about the flop
14 August 2008
Casino operator Boyd Gaming Corp will stop work for nine months to a year on a US$4.8 billion development in Las Vegas because of the tightening capital market and weakening demand for gambling in the US.
Communist relic scavenged for Burj Dubai
14 August 2008
Steel from an iconic communist building in East Berlin will be used to build the world’s tallest structure in Dubai.
Balfour Beatty's Gammon wins first Singapore PPP
12 August 2008
Balfour Beatty's Gammon Capital has won its first ‘PPP’ deal in Singapore for a technical college. The companies hope this will lead to more such deals in Vietnam and Malaysia.
