Staff Reporters

House prices in Perth have bucked the national trend, dipping nearly 1 per cent in the second quarter this year, a national survey shows.

Treasurer Troy Buswell has flagged a possible overhaul of an act governing the public sector as the state government starts a reorganisation of its administration.

Perth-based mortgage provider Homeloans says it expects its 2009 financial year net profit to improve by 49 per cent on the previous corresponding period.

Dominion Mining says revenue for the 2009 financial year reached $110 million as a higher gold price offset lower production.

New home sales edged slightly higher in June as first home buyers stayed active in the market while new detached home sales rose 8 per cent in Western Australia, a survey says.

Dioro Exploration has capitulated to Avoca Resources' hostile $68 million takeover after the fellow gold miner increased its bid and a rival deal with a Canadian miner fell through.

The Chamber of Minerals and Energy has backed Premier Colin Barnett's suggestion of relaxing foreign worker restrictions with the state potentially requiring an additional 26,000 employees by 2013.

Tokyo Electric Power Co is reportedly considering buying a stake in Inpex's $20 billion Ichthys liquefied natural gas project.

Takeover target Dioro Exploration says it has received a proposal from Canada's Northgate Minerals Corporation for the purchase of its 49 per cent stake in the Frog's Leg gold mine.

Shares in Murchison Metals have been placed in a trading halt pending confirmation of construction contracts for the Oakajee port and associated rail, which are to be awarded to two Chinese firms.

The federal government has quashed Rio Tinto's push for the government to consider nuclear power as a way to meet climate change targets.

Labor Party defector Vince Catania has denied misappropriating tens of thousands of dollars from the state Labor Party at last year's state election.

Shares in nickel miner Mincor Resources closed nearly 20 per cent higher today, driven by a positive quarterly report where higher production and lower cash costs generated a net cash flow of $17.9 million.

Mining identity Andrew Forrest has donated around $10,000 worth of share to his charity, The Australian Children's Trust.

The state opposition has again slammed the Barnett government's 3 per cent budget cuts with Department of Health the latest to reveal a fire sale of $1.8 million worth of land.

Premier Colin Barnett is hopeful of strengthening the state's relationship with China, particularly in the iron and gas sectors, as he prepares to visit the country amidst a political storm.

Investment company Ozgrowth has recorded a 19.2 per cent rise in the value of its investment portfolio in the June quarter, adding to the near 12 per cent increase posted in the previous quarter.

THEY might be dirty words in environmentalists' lexicon, but coal and uranium remain hot property in the mining investment sector.

Rio Tinto has posted record quarterly iron ore production at its Pilbara operations amid speculation of further bribery claims against the company in the Chinese media.

Western Australians have bombarded job hunting website Seek in June with applications up 6 per cent as job advertisements fall nearly 5 per cent, a survey shows.

Seven Network chairman Kerry Stokes is speculated to be behind the latest purchase of a parcel of Consolidated Media Holdings shares valued at $28 million as James Packer confirms he has lifted his stake in the company to nearly 41 per cent.

Creditors of collapsed Oz Brewing will have to wait a little longer to receive payment following continuing delays to the fulfilment of the deed of company arrangement (DOCA).

Rio Tinto Iron Ore chief executive Sam Walsh has spent nearly $700,000 participating in the miner's $US15.2 billion ($A19.7 billion) rights issue.

Fortescue Metals Group says it is closely watching relations between China and Australia following the detention of four Rio Tinto staff as it forecasts a lift in demand in the short-term from Asian steel mills.

The company in charge of the billion-dollar Oakajee deepwater port and rail network has appointed WorleyParsons to conduct the budget and engineering components of the $100 million bankable feasibility study.

Xstrata's multi-billion dollar takeover bid for Anglo American could be over after leading institutional shareholders have reportedly turned down the nil-premium merger.

West Perth-based Range Resources will go ahead with plans to raise $2.5 million which will be used to fund a new deal with a UK company over two oil and gas blocks in Georgia.

Barnett backs 9pm retail trading PREMIER Colin Barnett has announced that he will introduce a bill paving the way for retail trading hours to be extended to 9pm on weeknights.

Samsung wins $3.5bn Collie project PERDAMAN Chemicals and Fertilisers, the company behind the $3.5 billion urea plant near Collie, has awarded an engineering and construction contract to Samsung Engin

Cash Converters International will raise up to $5 million that will be used to buy franchised stores and increase the capacity of its loan book.

Chinese steel mills have reportedly agreed to the same 33 per cent iron ore price cut as reached by its Japanese and South Korean counterparts.

Lithium hopeful Galaxy Resources has signed a $1.1 million joint venture deal with General Mining Corporation over its Shoemaker hematite iron ore project just north of Wiluna.