Financial Services

The tax on condensate passed the Senate today, despite fierce opposition from WA Senators who compared the bill to a 'drive-by shooting' on Western Australians.

Treasurer Troy Buswell has announed the newly elected government will need to reign in excessive spending growth, inherited from the previous Labor government, following the release of the Annual Report on State Finances (ARSF) this afternoon.

The Australian dollar finished marginally firmer today after US President George W Bush's comments the US economy was "in danger" sparked a US currency sell-off.

Bentley-based waste recycling company AnaeCo Ltd has won its second major contract after being commissioned by a regional council in Victoria to process their mixed and green waste.

ANZ Banking Group Ltd chief executive Mike Smith says Australian banks are looking very strong, despite the current financial market turmoil.

Vulcan Resources Ltd, a base and precious metals development and exploration company working in Finland, has become the latest in a string of companies to feel the pinch thanks to the financial crisis affecting markets around the globe.

Avalon Minerals Ltd has announced a one for four Entitlement Issue at a price of 15 cents per share, to raise up to $1.95m.

Private Chinese company Shagang International Holdings will emerge with a 45 per cent stake in Grange Resources Ltd as a result of a merger deal announced today between Grange and Australian Bulk Minerals.

Perth-based CopperCo Ltd has announced their first full year profits, with revenue topping $81m and a net profit after tax of more than $5m

Pressing urgently for a massive financial bailout, President George W. Bush has warned "our entire economy is in danger."

Western Australia's residential market has been hit with the biggest drop in new homes sales in the country, according to a survey from the HIA.

State hit by $731m blowout: Buswell; 'Morale' cash quietens builders; Only 'faint glimmer' WA will retain Inpex gas project, says Barnett; Strike move sees NW union revival; Turbulence forces Qantas to delay $2bn float

THE next stop for the Australian All Ordinaries Index now looks likely to be 4,300 points, which will be a 61.

THERE are many things likely to change following the recent state election, not just as a result of a new government but also due to the circumstances in which it took power.

LITIGATION funder IMF Australia believes the worst of the sub-prime crisis impact in Western Australia is yet to come, with "a simmering pile" of non sub-prime collateralised debt obligations potentially adding to investors' woes.

Calling the bottom of the market is fraught with danger for real estate agents and developers, but many in the industry are hopeful that the tide is beginning to turn.

THREE Perth entrepreneurs have established a $40 million venture capital fund to invest in new technologies.

DESPITE tightening global credit markets, property analysts remain optimistic that the residential sector in Western Australia is headed for a growth phase in the near future.

CHIDLOW-BASED property developer Greenedge Projects Pty Ltd is seeking to raise $12 million through an ASX-listing for its sustainable development vehicle, Greenedge Ethical Investments Ltd.

WESTERN Australia's long-term outlook remains bright, despite the upheaval on global financial markets, with labour shortages continuing to be one of the biggest challenges.

Perth-based agricultural investment manager Great Southern Ltd may go back to the drawing board on its $438 million restructuring plans after the market meltdown slashed its share price.

World leaders have called for urgent steps to tackle the global financial crisis saying the time had come for sweeping reforms of multilateral institutions, including the UN Security Council.

Burke emerges as problem for new state government; Barnett: never on a Sunday; Premier backs Woodside on marketing, tax fight; Rudd acts to ease doubts on short-selling confusion; WA's $300m lobster industry facing disaster

Incremental Petroleum Ltd has taken Cooper Energy Ltd's takeover bid to the Takeovers Panel, saying there are certain deficiencies in the offer.

Despite the volatility in the wider market, the Deloitte index of Western Australian stocks rose by nearly six per cent over the past 12 months, compared to the All Ordinaries index which declined by over 16 per cent.

Shares in embattled Structural Monitoring Systems plc have slumped 60 per cent as the company seeks a shareholder vote to reduce the nominal value of its stock for a planned $4 million raising.

BankWest has formed a referral relationship with Allianz Finance, under which the latter will provide debtor finance products to the bank's customers.

Nedlands-based Quickstep Holdings has appointed a new chief executive following the resignation of Nick Noble who has been with the company for eight years.

Woolworths Ltd chief executive Michael Luscombe has joined his Coles rival in calling for the state government to deregulate trading hours in WA at a Perth function today.

Relief as rally cheers investors; Seven tips profit to be cut in half; US bailout fuels relief rally; Rio aims for more ore spot-price deals; WA Libs rewarded in Turnbull shake-up

West Perth-based Centaurus Resources Ltd has decided to sell its interest in the Liberdade iron ore project in Brazil in favour of concentrating on its other major assets.

Rio Tinto has continued its share raid on South Perth-based uranium explorer Extract Resources Ltd which is planning a merger with Kalahari Minerals Ltd.