While the economic wisdom of the state and federal budgets is still being debated, it’s clear the authors of both documents had one eye on their own political futures.
Western Australian government net debt is forecast to peak at $35 billion in 2017-18, but Treasurer Mike Nahan is confident that asset sales and a lagged rebound in GST revenue will help pay it back.
The state government’s decision to sell Fremantle Ports is likely to halt two separate sale and tender processes currently under way, including privatisation of the port’s automotive trade.
The Town of Port Hedland has tweaked its plans for a $152 million marina development at its Spoilbank site, removing all residential aspects of it because of environmental concerns over the project
The state government is aiming to collect up to $5 billion from a vastly expanded privatisation program that includes Fremantle Ports, the TAB, office buildings, residential land estates, Keystart loans, houses, plantations and power stations.
Western Australia’s resources boom drove asset values too high, just as the bust is driving asset values too low; but to best understand that point it’s worth taking a trip to Canada, where the sale of a machinery distributor contains an interesting message for Australian investors.
Power generation company Pacific Energy has appointed James Cullen as its new chief executive, following Adam Boyd’s retirement from the role in March.
Quickflix has responded to the entrance of streaming services into the Australian video subscription market by joining forces with one of them, Foxtel and Seven West Media’s Presto.
Curtin University has become the first tertiary education institution in Western Australia to join an international consortium established by Harvard and MIT universities to offer interactive onlin
Bunnings’ Perth-based property development and investment arm has sold off two of its Victorian assets, one a multi-tenanted industrial property in Blackburn and the other a previous Bunnings store
Construction and contracting firm Decmil Group has added a $27.3 million fuel terminal expansion deal to its order book, with the works to be undertaken at the Port of Hastings in Victoria.
Gold prices have jumped two per cent, rising well above $US1,200 an ounce to a five-week high as US the dollar hit a three-month low after disappointing US employment data.
The Australian dollar has surged past 81 US cents to an almost four month high on speculation the Federal Reserve could delay raising its interest rate.
A recapitalised Stanfield Funds Management is set to resume trading on the ASX today, with a new focus on Asian technology companies and a strong Western Australian connection.
Global oil prices have dipped despite a much bigger-than-expected decline in US crude inventories, as a slowdown at refineries raised concerns about the strength of demand.
The federal government has adopted a Keynesian-style stimulus policy with its new temporary instant asset write-off, moving cash flows for small businesses forward and recouping the revenue in later budgets.
Struggling iron ore miner Gindalbie Metals has proposed to turn part of its Badja Station east of Geraldton into a national radioactive waste management facility.
Premier Colin Barnett has rejected calls for a parliamentary inquiry into the iron ore industry, despite repeating his criticism of the major producers.
