Interior-Construction Firms Accused of Rigging Million-Dollar Tenders; Singaporean Watchdog Issues Legal Notices

Interior Construction Firms Accused of Rigging Million-Dollar Tenders; Singaporean Watchdog Issues Legal Notices

Two interior construction firms are accused of rigging million-dollar tenders. A Singaporean competition watchdog shares the details.

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Porsche Design Tower Attracts Billionaires With Its Car Elevators and Luxurious Amenities

Porsche is constructing its residency tower with hydraulic lifts that could transport residents’ cars to the garage next to their units. The garages will have floor-to-ceiling windows right outside the living room, where car enthusiasts can keep and enjoy their cars in the luxury personal garage while enjoying the buildings post amenities.

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German Industrial Production down 1.1%

German industrial production went down 1.1 percent month-on-month for the third quarter. According to Bloomberg Business, Berlin Economy Ministry reported the decline Friday, while economists expected a 0.5 percent increase. Germany has been struggling with the Chinese economic slowdown. The country is also grappling with the economic slowdown in other emerging countries where it exports most of its products.

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Profit target for Kobelco down 58% as China's economy slows down

Feeling the heat over the China's economy slowing down, Kobe Steel Ltd has reduced its profit target by 58 percent for its construction machinery unit Kobelco Construction Machinery.

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The China slowdown to last for another 2-3 years, predict realtors

The china's economy slowdown is likely to continue for next three years, predict real-estate developers. The robust growth has led cities to emerge as major infrastructure built up ones. There's opportunity in smaller cities though they can't offer the kind of growth witnessed in cities like Beijing and Shanghai.

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After 25 years, China revises down GDP growth to 7.3%

The growth rate of China's economy for 2014 has revised marginally lower to 7.3 percent from previous forecast of 7.4 percent. The drop in services sector weighed more on gross domestic product (GDP). According to the latest data from National Bureau of Statistics (NBS), the GDP stood at 63.6 trillion Yuan ($10 trillion) in 2013 and this was 32.4 percent lower than earlier projection. The latest data casts shadow over the Chinese government's target of seven percent for 2015.

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US home lending grows for 5 quarters in a row

At a time when the US construction sector is showing renewed activity, the rise in construction spending is boosting the US gross domestic product (GDP). At this juncture, home builders are upbeat on the prospects in the real estate and construction sectors as availability of loans is longer scarce.

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US construction spending at 7-year high

The US construction sector recorded an encouraging spending of $1.08 trillion, a 0.7 percent monthly growth, indicating a seven-year high. The July data from the US Commerce Department has not only boosted the market sentiment but also gave an indication of robust economic activity in the third quarter.

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BEA: Residential and commerical real estate investments are in the uptrend, albeit very low

The Bureau of Economic Analysis (BEA) released its second quarter advance GDP report, fund inflows into office space segment (commercial construction) is on recovery path, but still showing pressure as it hovering about 33% lower than the recent peak level in terms of GDP percentage.

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U.S. hiring seen solid in June, keeping September rate hike in play

U.S. job growth likely cooled a bit in June after reaching a five-month high, but still-healthy hiring would suggest the labor market is strong enough to support a September interest rate increase by the Federal Reserve.

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Robust U.S. jobs report boosts chances of Sept Fed rate hike

U.S. job growth accelerated sharply in May and wages picked up, signs of strong momentum in the economy that bolster prospects for a Federal Reserve interest rate hike in September.

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U.S. economy stumbles in first quarter as weather, low energy prices weigh

U.S. economic growth nearly stalled in the first quarter as harsh weather dampened consumer spending and energy companies struggling with low prices slashed spending.

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U.S. economy poised to thaw after winter chill

U.S. economic growth likely braked sharply in the first quarter as harsh weather dampened consumer spending and energy companies struggling with low prices cut spending, but there are signs activity is picking up.

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U.S. economy slowed in fourth quarter, but growth outlook still favorable

U.S. economic growth braked more sharply than initially thought in the fourth quarter amid a moderate increase in business inventories and a wider trade deficit, but strong domestic demand brightened the outlook.

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U.S. payrolls rise solidly, but weak wages dim limelight

U.S. job growth increased briskly in December, but wages posted their biggest decline in at least eight years in a sign the tightening labor market has yet to give much of a boost to workers.

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