Diploma Group has won a $110 million contract to build stage 1 of the Queens Riverside mixed-use development on the former East Perth Bus Depot site on Adelaide Terrace, on behalf of Frasers Property Australia.
Malaga-based Advanced Engine Components (ACE) has been thrown a lifeline and will negotiate an extended repayment of a $3 million sales financing facility with 698 Capital Asia Pacific, a party related to ACE's major shareholder.
Mine sites ceased production and ports closed as heavy rains and strong winds battered the iron ore-rich Pilbara region overnight while other operations were left unscathed by Tropical Cyclone Laurence despite causing widespread damage as it moved inland.
There is good news ahead with 2010 shaping to be a much better year for Western Australian businesses, with a majority of employers expecting the local economy to pick up pace in the next 12 months, according WA's peak industry body.
The state government will introduce involuntary severance as part of sweeping reforms recommended by the Economic Audit Committee to improve operational and financial performance within the public sector.