Skanska Reports 1.8% Rise in Q1 Net Profit

Can Construction disputes be avoided?

Construction disputes are incredibly common and immensely costly. Why is the industry seemingly reluctant to stop them from happening? Martin Burns, Head of ADR Research and Development at RICS explores…

First, I should perhaps begin my answer to this question with a declaration of interest.
I have worked for the RICS Dispute Resolution Service for more than three decades. I am regularly involved in designing and implementing dispute resolution services for government and industry bodies in the UK and globally. Fo..

Skanska Flags 195 Million Impairment Charge in Q4 2023

International construction and development company Skanska has disclosed a $195 million impairment charge in the fourth quarter of 2023. This announcement underscores Skanska's commitment to transparency and financial reporting, providing stakeholders with essential insights into the company's financial performance during the specified period.

The $195 million impairment charge indicates a recognition by Skanska of factors affecting the valuation of certain assets or investments. Such impairment charges are typically associated with a reassessment of the recoverable value of assets, e..

Digital transformation: TCS partners construction giant Skanska

Global information technology (IT) firm Tata Consultancy Services (TCS) Ltd has been selected as a strategic partner by Sweden-based construction company Skanska to help in its digital transformation.

As part of the partnership, TCS will leverage its Machine First Delivery Model (MFDM) framework to streamline Skanska's journey to the cloud and help it transition to a more proactive IT model with automated processes, such as a chatbot for support services, TCS told the media.

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PNB Official Accused of Embezzling Rs 5 Crore from Bhopal Firm

The Central Bureau of Investigation (CBI) has charged a Punjab National Bank (PNB) official with embezzling approximately Rs 4.98 crore from a Bhopal-based infrastructure construction company. The head cashier, Mukul Singh, allegedly conspired with a private individual, Vinod Kumar Singh, to commit the fraud.

The incident occurred at PNB?s Delhi Road Branch in Hapur, Uttar Pradesh. According to CBI officials, Mukul Singh, without proper authorization, merged the account of Dilip Buildcon Ltd with that of Vinod Kumar Singh?s company, Star Raze. Subsequently, funds amounting to Rs 4.98 cr..

KMRL's Rs.1.16 Bn Project Delayed Due to Lack of Government Support

The Kochi Metro Rail Limited (KMRL) is experiencing setbacks in its ?1.16 billion project as several government departments have reportedly failed to provide necessary support. The project, aimed at enhancing urban transportation infrastructure in Kochi, has encountered delays due to bureaucratic hurdles and insufficient cooperation from concerned government bodies.

According to sources familiar with the matter, the project's progress has been significantly hampered as key departments have not fulfilled their commitments, including providing essential clearances and approvals. This lack..