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TORONTO (CP) - Ontario's manufacturing-based economy, reeling from widespread layoffs in the forestry and industrial sectors, has been sharply downgraded to rank last in economic growth among the provinces, according to an economic outlook by Royal Bank (TSX:RY). The report released Friday said Ontario's economic woes stand in marked contrast to Alberta, whose booming oilsands economy is poised to be Canada's top performer this year with the strongest growth rate in a decade at 6.3 per cent. "Ontario's economic growth forecast has weakened and is facing further downside risks," said Craig Wright, the bank's vice-president and chief economist. "The economy isn't far from being at a standstill, despite the drop in natural gas and oil prices, which should both serve to stimulate growth." Ontario, which contributes about 40 per cent of Canada's total employment, is forecast to grow at a sluggish rate of just 1.5 per cent in 2006 and two per cent next year.
The Swedes figured out some time ago that if they were going to build an international reputation, then it would be based on not just exporting bog-standard goods, but products that seemed to embody the national character: powerful, stoic, individual, accessible, sensitive. Like Volvos and Saabs and bolt-together furniture. Most of which is, of course, blonde. One of the countryÂ's outstanding exports is the brand leader of the oldest profession in the world, the Â"Swedish modelÂ". It was very exciting to discover that Yvette Cooper, the housing and planning minister, recently went on a fact-finding mission to find out more about Swedish models, but it turns out that my idea of this particular brand only enjoys success outside Scandinavia. On home turf, the Swedish model means only one thing: housing.
BETHESDA, Md.--(BUSINESS WIRE)--ARK Realty Capital of Bethesda, MD today announced the closing of $58 million in non-recourse construction financing for Carlyle Overlook, a 250,000 square foot Class A office building under development in Alexandria, Virginia by MRP Realty, a commercial real estate development company founded by former Trammell Crow Company executives Bob Murphy, Fred Rothmeijer and Ryan Wade. MRP Realty's capital partner, Rockpoint Group L.L.C., is a global real estate and investment management firm with offices in Boston, Dallas, San Francisco, Frankfurt, London and Tokyo. Key Bank of Washington, D.C. provided the loan, which represents 75 percent of the project cost. MRP Realty recently broke ground on the project, located adjacent to the Eisenhower Avenue Metrorail station and the U.S.
Abu Dhabi Investment House (ADIH), a leading property investor in the UAE has announced that the construction of its $600 million project in Beirut, Lebanon will soon be under way. The four architects of the project are in the city to finalise the master plan. The Beirut Gate project is essentially a commercial and residential sea view development in the Beirut Central District, called Solidere. It has 8 plots covering over 21, 448 sqm and a build-up area of 178, 500 sqm. Nicholas Fraser, ADIHs Executive Director of Real Estate, We are excited that this project is ready to proceed and we are sure this development will provide a major boost for the people of Beirut and the economy of Lebanon. French architect Christian de Potzempark of New Yorks LVMH towers fame, Arquitectonica, a US architectural firm, Nabil Gholam, a reputed Lebanese architect and Erga Group, another popular Lebanese firm are the designers of this ambitious development.
Five CREW Seattle members joined us for a roundtable recently to share some personal insight into their careers in commercial real estate. All are preeminent leaders in their respective fields. Q: What motivated you to enter the commercial real estate field and what motivates you to stay? TAYLOR: What continually motivates me in the field of architecture is my love and passion for what I do. A teacher suggested architecture when I told him that I wanted my degree in interior design. Touring my first school of architecture, it was love at first sight. After receiving my masters' degree, I worked on large corporate headquarters in New York as a draftsperson. Within a few months, I was asked to be a job captain on the 300,000-square-foot headquarters for Continental Can.
MIAMI, Oct. 13 (UPI) -- A 1950s-era house and two V-8 engines may help Florida scientists learn which construction materials and methods better withstand hurricane winds. Studying construction methods and materials and how they withstand hurricanes' wind and water can prevent future damage, the Miami Herald said Friday. Florida International University's International Hurricane Research Center and Laboratory for Coastal Research scientists used the V-8 engines to produce winds of 115 mph, which they trained on the condemned to learn on how older buildings fare, the Herald said. Authorities said improving building against storms stronger is the best way to corral insurance costs, the Herald said. Insurers tend to charge higher premiums on older homes, assuming the dwellings won't fare will in storms because they were built under less rigorous standards.
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