Westpac Banking Corporation has cut its standard variable home loan interest rate by 65 basis points, while the National Australia Bank has lowered its rate by 62 basis points.
The Western Australian housing market has taken another hit today with latest figures showing building approvals falling nearly 14 per cent in September, nearly double that of the national trend.
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Perth property developer Kevin Pollock has been given a suspended three year sentence in the Supreme Court of Perth after being found guilty of fraud charges totalling over $3 million.
Western Australia's business community will have the opportunity to ask the federal government questions regarding the financial crisis, as the Chamber of Commerce and Industry WA welcomed today's rate cut decision by the central bank.
CommSec is tipping a further interest rate cut of 25 basis points next month as the central bank today slashed rates by a bigger than expected 75 basis points, a move welcomed by various lobby groups across the country.
Western Australian businesses spend more on research and development as a proportion of gross state product than business in any other state, according to data from the Australian Bureau of Statistics.
The Commonwealth Bank of Australia is the first bank to pass on some of the central bank's rate cut, lowering its standard variable home loan rate by 58 basis points.
Subiaco-based PharmAust Ltd, through its wholly owned subsidiary Epichem Pty Ltd, has entered into a joint venture agreement with Curtin University to develop oral insulin for the treatment of diabetes.
The takeover tussle for Incremental Petroleum Ltd could be extended after the corporate watchdog asked bidder Cooper Energy Ltd to extend its deadline that it thought was final.
United States company Cleveland Cliffs has ended its takeover of iron ore miner Portman Ltd with a 99.27 per cent interest, boosted by acceptances to its offer and on-market purchases.
Australian executives are expecting further economic turbulence in the New Year as credit market conditions, a volatile Australian dollar and inflationary pressures impact profit and investment prospects for 2009.
Herdsman-based Olympia Resources Ltd is undertaking a strategic review of its projects in light of the current financial crisis while chairman Mal Randall steps down.
Gindalbie Metals Ltd plans to raise $162 million through a share placement to Chinese project partner AnSteel to cover its final payment towards the $1.8 billion Karara iron ore joint venture.
The effect of banks tightening the purse strings on small to medium enterprises could seriously hamper the Australian economy in the long term, East & Partners' latest SME Banking Markets Report reveals.
Perth-based Mission NewEnergy Ltd has produced first bio-ethanol from non food agricultural waste material, which sets up the company to produce the fuel from a range of low-cost and readily available feedstock.
Consumer watchdog Choice has today launched a campaign to find an alternative buyer for BankWest, which has accepted a $2.1 billion takeover from the Commonwealth Bank of Australia.
Clough Ltd has signed a $56 million agreement with Superior Energy Services Inc to charter the newly built Rem Clough and provide associated subsea services.
Perth has recorded the biggest fall in house prices over the past year as latest figures from the Australian Bureu of Statistics confirm a slowdown in the national housing market.
Western Australia has recorded the biggest drop in newspaper job advertisements for October, in line with the national decline as firms shied away from hiring staff in a slowing economy, a survey says.
Shares in Atlas Iron Ltd have jumped over 30 per cent on news the miner is on the verge of signing a long-term off-take deal as it sells its first iron ore shipment from its Pilbara project.
Mount Gibson Iron Ltd has entered into several offtake deals with two Hong Kong listed companies, one a major shareholder, as it plans a $162 million capital raising that is fully underwritten.
Molybdenum miner Moly Mines today announced the Spinifex Ridge Molybdenum Project was poised for immediate implementation, despite the economic slowdown.
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The legal battle between Oil Basins Ltd and ARC Energy Ltd has been resolved, with the Canning Basin joint venture partners agreeing to a new arrangement.
