Matt Mckenzie

Grants from the federal government and delayed dividend payments from state-owned enterprises have helped the state government report an operating deficit 73 per cent below forecast in the 2018 financial year, while the non-trade economy has grown after a sustained period of shrinking.

Twenty local executives acquired $38 million of shares at no cost over the past 3 months, research by Business News has found.

SPECIAL REPORT: Accommodation groups are betting on international students returning to Perth.

SPECIAL REPORT: The state government is spearheading programs to build interest in WA as a preferred leisure destination within Australia and overseas.

The Insurance Commission of Western Australia has reported a 43 per cent rise in profit in the 2018 financial year, to $277.7 million, on the back of higher investment income, improving premium revenue, and lower claims.

An overnight decision by the Economic Regulation Authority will put downward pressure on power prices, with network operator Western Power ordered to further tighten its belt in the next four years.

The state government appears to be continuing to back away from plans to introduce increased competition in electricity retailing, with Economics and Industry Committee chair Jessica Shaw saying she’d like to see more evidence it would reduce prices.

Electricity retailer Synergy hit an after-tax profit of $24.3 million in the year to June, an improvement of $36 million, aided by about $140 million of state government subsidies, while increased uptake of household solar continues to put pressure on revenue.

Market fears for the outcome of the escalating tariff war between the world’s two biggest economies have heightened during the past week, with history showing what could be a significant impact on consumers, and employment.

BGC Development’s Westin Hotel and Hibernian Place development was picked as the top project in Western Australia in this year’s Urban Development Institute Australia WA awards.

Shares in lithium hopeful Kidman Resources dropped 15 per cent to be $1.08 each after the company acknowledged a Warden’s Court ruling last week which recommended Kidman not be exempt from past minimum expenditure obligations on tenements at its Mt Holland project.

Former Mt Gibson Iron boss Jim Beyer will take the reins as managing director of Regis Resources next month, while director James Mactier will take over as chair, after executive chairman Mark Clark announced his resignation.

Chevron’s Clio and Acme gas fields could provide backfill supply for an existing LNG plant, most likely North West Shelf Venture’s Karratha facility, under a plan to be unveiled by the company’s Australian managing director Nigel Hearne this afternoon.

Helping the state’s elite batsman become better run scorers is one planned outcome from a deal between Murdoch University and the Western Australian Cricket Association announced today.

Saran Bajaj is combining his love of arcade games with staple bar offerings of cocktails and pizza at his new venue, Palace Arcade.

Mount Gibson Iron will have a leadership change at the end of the month, which chief financial officer Peter Kerr to succeed Jim Beyer as chief executive as the latter pursues other opportunities.

This season's Western Australian grain output will be 800,000 tonnes higher than previously expected, at 16.3 million tonnes, according to the Grain Industry Association of Western Australia, at a time when Asia is facing a potential supply shock.

Gina Rinehart's Hancock Prospecting has conditionally upped its takeover offer for Atlas Iron in a bid to win over Fortescue Metals Group, which holds a blocking stake.

Western Australia’s unemployment was steady in August at 6.2 per cent in trend terms, despite a small rise in the number of people employed, although the level was much lower for women than men.

Panoramic Resources has agreed to sell the Lanfranchi nickel project for $15 million to Texas-based Black Mountain Metals, showing the American business is still on the hunt for nickel opportunities in Western Australia.

Osborne Park-based Decmil Group has won a $150 million contract extension to provide upstream services in the Queensland coal seam gas space.

Department of Communities director general Graham Searle has resigned from the role, with the decision believed to be due to illness.

Subiaco-based marketing business OpenDNA has completed a $2.5 million placement and announced it will acquire Perth-based Choose Digital and Chinese-focused RooLife.

Shares in biomedical technology business Phylogica were up 13 per cent today after the company announced it had completed a $9.1 million recapitalisation.

Osborne Park-based manufacturer Kreepy Krauly and homebuilder JWH Group were last night added to Family Business Australia’s hall of fame.

Shares in nickel and cobalt hopeful Aldoro Resources will begin trading on the ASX tomorrow, after a $5 million initial public offering.

Perth-based Australian Mines has secured a $US12 million convertible note facility with a New York fund, as it seeks to continue development of a Queensland cobalt project and completes the acquisition of a second cobalt deposit.

Lithium producer Altura Mining has secured an additional $US15 million of debt funding to support a second stage expansion and the ongoing ramp-up of its Pilgangoora operation, after officially opening the project last week.

Empired subsidiary Intergen has won a $9 million-plus contract to develop a digital transformation program for New Zealand’s Department of Internal Affairs.

Early works for the Yanchep rail extension and Thornlie to Cockburn link will be contracted separately, as the state government attempts to give opportunities for smaller players after combining the main portions of the two projects into one package.

Mineral Resources has continued to diversify its interests, taking a $2 million stake in West Perth-based Barra Resources, which is developing the Mt Thirsty cobalt project near Norseman.

Subiaco-based copper hopeful Todd River Resources plans to raise $4.2 million for drilling work at its Mt Hendy discovery in the Northern Territory.