BGC Australia has agreed to sell the Aloft Perth hotel and associated office development in Rivervale to Singapore-based Hiap Hoe Ltd for $100 million, but is still chasing a buyer for a second, larger hotel it developed, The Westin Perth.
Australian shares have fallen at the open despite overnight gains on Wall Street, with energy stocks slipping on falling oil prices, and the financial sector also dragging on the bourse.
US stocks have risen for a third straight session as President Donald Trump said trade talks with China were "moving along nicely," reviving hopes that the two countries can resolve their trade dispute.
Oil has fallen nearly 3.0 per cent, with US crude futures hitting lows not seen since April, due to growing concerns that global demand is weakening at a time when output from the world's major oil producers is surging.
Gold rose nearly 2.0 per cent overnight, bouncing off a three-week low touched in the previous session as the dollar fell sharply from recent highs, making the metal cheaper for holders of other currencies.
Property industry bodies have congratulated the McGowan government on passing the Strata Titles Amendment Bill 2018 through Parliament, which it says will bring a range of benefits for strata living arrangements through better regulation of strata managers and improved dispute resolution processes.
The production ramp-up at iron ore miner Roy Hill Holdings has helped the company lift annual profit by 69 per cent, in turn boosting the annual earnings of its major shareholder, Gina Rinehart’s Hancock Prospecting.
On the first day of November the Australian share market drew inspiration from the spring carnival - it jumped, fell behind but sensed the winning post and surged clear to close higher, lifted by banking and mining stocks.
Construction and engineering contractor Georgiou Group has lifted its annual profit and turnover and tipped a positive outlook, helped by recent contract wins at Perth Airport, in the Pilbara and on the east coast.
Power Ledger co-founder Jemma Green has been named as EY’s fintech entrepreneur of the year at the national awards in Sydney last night, while Melbourne-based Jo Horgan took out the main award.
The Village, Australind Shopping Centre, and the adjacent Mardo Commercial Centre have been acquired by Acure Asset Management for $39.43 million from private property company the Vukelic Group, representing a yield of 8.3 per cent
A national study by Infrastructure Australia has found that Perth residents are among those least likely to use public transport for their daily work commute, despite good accessibility in outer suburbs and subsidies covering about 70 per cent of the cost of a trip.
Two sets of data out today have sent mixed signals about the Perth property market, with Reiwa figures revealing a lift in house prices in October, while Corelogic says they fell for the month.
NAB's full-year profit has dropped 14.2 per cent to $5.7 billion after the lender booked more than $1.1 billion in restructuring costs and customer remediation.
BHP shares have jumped more than 4 per cent after the mining giant said it would return $US10.4 billion ($A14.7 billion) to shareholders in the form of an off-market buyback and special dividend.
Australian shares are ahead at the open following overnight gains on Wall Street and a five per cent surge in BHP after the mining giant announced it would return $14.7 billion to shareholders.
Oil prices have fallen and posted the worst monthly performance since mid-2016 on evidence of rising global crude supply, but losses were limited by signs of strong US demand for fuel.
The money-making power of Gina Rinehart’s mining business has been abundantly demonstrated in the group’s latest financial results, with her private company Hancock Prospecting lifting annual net profit 28 per cent to $1.37 billion.
Perth’s annual inflation rate has hit its highest mark in nearly three years, driven by rising electricity prices in the September quarter, according to the latest data from the Australian Bureau of Statistics.
The federal government today launched a new wage subsidy trial targeting apprenticeships in rural and regional areas, which will invest $60 million across a range of trades
