The US Census Bureau of the Department of Commerce announced that construction spending during May 2012 was estimated at a seasonally adjusted annual rate of USD 830.0 billion, up by 0.9% MoM from April estimate of USD 822.5 billion.
The May 2012 figure is 7% YoY above the May 2011 estimate of USD 775.8 billion. During the first five months of 2012, construction spending amounted to USD 310.5 billion, 9.4% YoY above the USD 283.8 billion for the same period in 2011.
Spending on private construction was at a seasonally adjusted annual rate of USD 560.4 billion, 1.6% YoY above the revised April 2012 estimate of USD 551.8 billion. Residential construction was at a seasonally adjusted annual rate of USD 261.3 billion in May 2012, 3% MoM above the revised April 2012 estimate of USD 253.8 billion.
Non residential construction was at a seasonally adjusted annual rate of USD 299.1 billion in May 2012, 0.4% MoM above the revised April 2012 estimate of USD 298 billion. In May 2012, the estimated seasonally adjusted annual rate of public construction spending was USD 269.6 billion, 0.4% MoM below the revised April estimate of USD 270.7 billion.
A Court Ruling In Favor Of Barwa
On April last year, Barwa Real Estate Group announced that a court ruling by Dubai International Arbitration Centre has been issued to obligate Barwa International Company and The Green City Compan
Doha Bank may sell bonds to raise capital
Qatar's Doha Bank could issue a capital-boosting bond instead of shares as planned, although it was evaluating the best route to help raise core capital, its chief executive said.
NASDAQ Dubai welcomes EIFB as a member
Emirates Islamic Financial Brokerage (EIFB), one of the UAE's leading Shari'a compliant brokers, has become a Member of NASDAQ Dubai, the region's international exchange.