Western Australia’s investment community has shrugged off fears of trouble in the US economy after problems in the US mortgage market triggered profit warnings from financial services groups and sent global stock markets plunging last month.
While Western Australia’s mining industry is well-represented on the list of the state’s top exporters, a number of manufacturing and technology companies are also creating significant export revenue.
Western Australian agribusiness exporters experienced mixed fortunes this season, with drought conditions putting pressure on the grains sector, while other sectors, such as meat, livestock and forestry experience a growth in revenues.
Western Australia has become unusually dependent on three giant resource sector producers, which account for more than half of the state’s entire exports.
The state government has posted another record surplus, eclipsing its previous record figure by almost 2 per cent to reach $2.3 billion for the 2006-07 financial year.
Vital upgrades to Western Australia’s grain rail freight network face further delays after the federal government rejected a state request for help in funding the $400 million required to keep parts of the network functioning.
China is Western Australia’s most important export partner, generating $13.8 billion for the state’s economy in 2006-07 and overtaking Japan as WA’s biggest export market, according to figures from the Department of Industry and Resources.
Commercial property investor Hossean Pourzand may break some sales records before the year is out, with the Clough building at 251 St Georges Terrace expected to generate strong interest from investors and developers.
Western Australia’s massive minerals and petroleum sectors dominate the state’s export commodity profile, with just one commodity in the top 10, wheat, from outside the resources industry.
Mineral Resources Ltd non-executive director Michael Kiernan has decreased his direct interest in the company through the on-market sale of 516,666 shares realising just under $2 million.
An open door for further negotiations between local governments and the Federal Department of Transport and Roads on the cost of new security measures has pleased the WA Local Government Association.
Gold Corporation, the WA Government-owned operator of The Perth Mint and 40 per cent owner of the AGR Matthey gold refining joint venture, has announced an after tax profit of $7 million compared to the previous year's result of $4.8 million, it announced
West Perth-based oil and gas explorer Deltana Energy Ltd has opened its initial public offer to raise $16 million, funding a planned exploration program in northern Italy's Po Valley region.
Private Chinese company Shandong Landbridge Group, which announced plans to take a $5.5 million placement in West Perth-based gold and base metals explorer Hannans Reward Ltd in June, has requested a second extension of time.
Perth-based gold explorer CGA Mining Ltd will issue shares worth around $67.4 million through a placement of shares and units to fund the construction of its Masbate gold mine in the Philippines, the company has announced.
CVRD-Inco has completed the second stage of evaluation of the Kalgoorlie Nickel Project, managed in a joint venture with Heron Resources Ltd, the West Perth-based company has announced.
Perth-based minerals explorer Northern Star Resources Ltd will pay $100,000 and issue shares and options to Fraka Investments Pty Ltd, resolving the company's competing claim for mineral rights over the Wilson River Project in the East Kimberley.
West Perth-based Mirabela Nickel Ltd has decided to proceed with its US$263 million (A$300 million) Santa Rita nickel project in Brazil, appointing GRD Minproc to provide engineering, procurement, commissioning and construction consulting services.
BOUTIQUE corporate advisory group, New Holland Capital Pty Ltd, has recruited Investec Bank executive Jason Brewer to run its newly established Perth office.
TSG Key Group's David Simmons and Message Group's Kym Illman are among the winners of this year's Western Region Entrepreneur Of The Year awards, founded and produced by Ernst & Young.
Australian businesses have seen a gradual improvement in the promptness of business-to-business trade payments over the last quarter, but the average payment period in June is still at around 54 days, keeping the pressure on.
Western Australian health insurance giant HBF has taken a major step in its strategy of offering a wider range of financial services by signing a memorandum of understanding with Bank of Queensland.
Fast-growing cash flow lender Benchmark Debtor Finance has been acquired by two Sydney-based financial institutions, Allco Principal Finance and Balmain NB.
PERTH law firm Steinepreis Paganin worked on more Initial Public Offerings last year than any other law firm in the country, a national survey has found.
