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Sept. 27 (Bloomberg) -- Shares of Iberdrola SA had their biggest-ever gain and Endesa SA, Spain's largest power company, surged after three bids were made for the utilities in two days. Iberdrola, Spain's second-largest power company, soared 16 percent after builder Actividades de Construccion & Servicios SA bought a 6.3 percent stake, leading investors to speculate a higher offer or merger may come. Endesa added 8.5 percent as E.ON AG raised its hostile offer and Gas Natural SDG SA, the nation's biggest gas provider, rose 10 percent. The utilities added more than 8 billion euros ($10 billion) to their combined value. Construction companies and foreign utilities want to secure a foothold in a power market that Spain's government forecast will expand faster that the European Union average through 2011.
Oct. 5--U.S. home prices will fall next year for the first time since the Great Depression, and most areas of Colorado will participate in the decline, according to an analysis by Moody's Economy.com.
Median prices for existing U.S. homes will drop 3.6 percent next year, with 20 areas, including Greeley and Weld County, declining 10 percent or more, according to "Housing at the Tipping Point," a report that Economy.com released Wednesday.
Economy.com is an economic-analysis firm run by Moody's, which is best known for its bond-rating services.
"This is a healthy, necessary correction," said Daniel Jester, an economist with the Pennsylvania-based firm.
Denver-based real-estate analyst Gary Bauer disagreed with Economy.com's forecast, calling it aggressive.
The construction of a micro-dam in Mirgats, Adi-Keyih sub-zone, has been finalized at a cost of 6.7 million Nakfa and gone operational. The micro-dam constructed by Bidho Construction Company has a capacity of holding over 157,000 cubic meters of water and is expected to irrigate 30 hectares. It would also provide potable water supply to the inhabitants of Embaquaquat and Mirgats, in addition to facilitating irrigation farming in the area. .
People with Property Development Finance should be able to avoid cowboy builders, thanks to a new guide to the costs of building and repair work.Launched by the Building Information Service, part of the Royal Institution of Chartered Surveyors (Rics), the Property Makeover Price Guide aims to help property developers budget the cost of repairs and home improvements.Spokesman for Rics, Joe Martin, says that the guide should safeguard against being over charged for work by tradesmen."If you want to know how to employ skilled labourers to undertake work on your property safely and legally for a fair price you will not be disappointed," he says."Knowledge is power and we expect this guide to demystify construction and help drive the cowboy builders out of town."The guide was launched at the Autumn Ideal Home Show and contains the cost of over 1,300 jobs.
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