Government

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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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.

The Reserve Bank of Australia has cut the official cash rate by 75 basis points to 5.25 per cent, its lowest level since March 2005.

A new survey has revealed business conditions have slumped to their lowest level in 14 years, backing the need for today's expected interest rate cut.

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.

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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.

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.

Cazaly Resources Ltd will pay a total of $6 million to West Perth-based Carbine Resources Ltd to exit a farm in and joint venture deal.

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.

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The Western Australian housing market is tipped to bottom out this December quarter as new homes sales during September jumped 19.5 per cent, however Perth remains the worst performer in property values.

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The Chamber of Commerce and Industry WA and the Chamber of Minerals and Energy say the federal government's economic modelling of its proposed emissions trading scheme has confirmed their concerns about the scheme and its impact on the state.

Early action to tackle climate change will reduce gross national product by just a tenth of a per cent a year, with the economy continuing to grow strongly, the federal government says.

Treasurer Troy Buswell has approved a continuation of the costly Office of Shared Services project but has placed it on notice that remaining implementation and budget targets must be strictly adhered to.

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MALAYSIA is becoming a destination of choice for Western Australia's goods and services, especially agriculture, and with significant development of the country's southern region in the pipeline, future export prospects are getting brighter.

IN 1929, the Australian share market peaked and subsequently fell 41 per cent, heralding the Great Depression.

IN an economic meltdown should we be reassured that so many economists are at the helm?

THE inner court of Colin Barnett is a small and select group, according to those that watch government closely.

THE global financial crisis continues to take its toll on the construction industry, with more than half of the state's builders indicating they will be reducing subcontractor numbers in the next 12 months.

WINNING an award can be a good way to get a business known and increase of customers; but White Salt owners Tim and Claire Leech say it's also a great staff retention tool.

STRATEGY, psychology, risk assessment - the card game of bridge sounds like the perfect accompaniment to the political career of David Wawn.

WESTERN Australian businesses and recruiters have expressed concerns over possible cuts to Australia's migration intake, calling for a state-based approach to immigration quotas.

TOP executive salaries in Australia's 100 largest listed companies increased three times the average adult wage from 2001 to 2007 and more than five times greater than the consumer price index, according to a recent national survey.

THERE has to be some advantage in being the only chink in otherwise wall-to-wall Labor governments across Australia.

THE buoyant economic conditions that prompted the recent wave of new retail developments in the Perth CBD are starting to turn, and while inquiries from retailers remain strong, a downturn in retail spending may dampen demand.