The Reserve Bank of Australia has chosen to keep interest rates unchanged today at 0.25 per cent, despite news of over 1 million job losses nationwide and a 48.5 per cent drop in car sales.
The Australian share market has risen by more than one per cent for a second straight day as sentiment cautiously improved for the country's economic prospects.
WA has reported its sixth consecutive day of no new coronavirus infections. Prime Minister Scott Morrison says coronavirus restrictions are costing the Australian economy $4 billion each week. The National Cabinet is expected to ease some restrictions on Friday.
The Chinese conglomerate behind Pilbara magnetite ore mine Sino Iron has said the operation reported a profit for the first time since it started up in 2013, after higher iron ore prices lifted revenue 15 per cent.
Potential for a hydrogen industry in WA has been ignited in 2020, with at least 12 feasibility studies under way, while the federal government has announced $300 million to support the industry.
El Caballo Resort and Lifestyle Village will be repurposed to become a social housing facility for indigenous Australians under a new joint venture established by the South West Aboriginal Land and Sea Council.
West Perth-based Predictive Discovery has received commitments to raise up to $6.9 million from a share placement and is seeking to raise up to a further $2.1 million to progress its gold discovery in Guinea.
The Australian Institute of Architects is calling on governments to drive targeted initiatives that could stimulate the property sector, helping to accelerate economic recovery from COVID-19.
Southern Cross Electrical Engineering’s east coast business has secured $25 million in new contracts to complete construction, electrical and communication works in NSW and the ACT.
Outdoor wear retailer Kathmandu has seen a surge in online sales in April but will open most of its stores in Australia by the end of this week as strict restrictions for COVID-19 are eased.
Qantas has extended the suspension of most of its domestic and trans-Tasman flights until the end of June, and for international flights until the end of July.
Oil was up 3 per cent overnight as more countries announced they would begin easing coronavirus lockdowns and as crude supply cuts by the world's top producing nations and companies take hold.
Gold rose overnight as brewing tensions between the United Sates and China over the novel coronavirus outbreak kindled fears of a new trade war and had investors seeking safe havens.
A plan to install 15 gigawatts of solar and wind generation capacity in the Pilbara to export electricity to Indonesia has been approved by the Environmental Protection Authority.
Personal hearing technology developer Nuheara has launched a $2.5 million capital raising to help bolster its sales growth in Europe and the United States.
The Australian share market has demonstrated its resilience, reversing its early losses of as much as 1.4 per cent to finish higher by a similar amount and start the week off on a positive note.
WA has reported its fifth consecutive day of zero coronavirus infections. Roger Cook has warned Western Australians cannot become complacent, despite four more recoveries overnight. There are 15 active cases in WA.
AVZ Minerals will receive a $10.5 million investment from China-based Yibin Tianyi to progress its flagship lithium project in Central Africa, while also receiving commitments to raise $5.3 million.
Adarsh Australia has been awarded a government contract to produce up to 10,000 face shields for Western Australia’s surgeons and ENT specialists, boosting the state’s supply of critical protective medical equipment during the COVID-19 pandemic.
Halls Head Shopping Centre has sold for $6.3 million to an unnamed interstate investor, continuing a recent trend of east coast players acquiring Western Australian retail assets.
Passenger numbers at Perth Airport have fallen more than 1 million since April last year, with the airport also raising concern about its financial position after being left with outstanding payments from its two largest airlines.
The state government’s $2 billion Morley-Ellenbrook rail project has been given the go-ahead from Infrastructure Australia, though the national body questioned some of the benefits and found they would just outweigh the costs.
Westpac has joined rival ANZ in deciding to not pay an interim dividend to shareholders after it posted a first-half profit slide because of hefty impairment charges related mainly to the COVID-19 pandemic.
US President Donald Trump's threat to impose new tariffs on China has helped gold prices climb by more than one per cent but bullion was on track for its worst week since mid-March.
