Andrew Hobbs

Chinese steel-making group Delong Holdings Ltd will take a 13.25 per cent stake in Leederville-based iron ore explorer Cape Lambert Iron Ore Ltd for $14.6 million, the company has announced.

The State Government plans to turn Bentley's Technology Park into a specialist information and communications technology hub, as part of a wider development of the area, Industry and Enterprise Minister Francis Logan has announced.

West Perth-based Nare Diamonds Ltd has signed a joint venture deal with Government-owned Angolan diamond mining company Endiama, ahead of plans for a name change and listing on two foreign exchanges.

Perth-based commercial property investor Aspen Group Ltd has announced an underlying net profit after tax of $33.5 million, up 81 per cent on the previous year's results.

The minute one walked in the joint, one could see that big spenders would populate Federal Parliament this week, as a budget surplus was unveiled and takeover plans were mooted for ports, housing and hospitals. Oh, and there were strippers.

Echoes were prevalent in politics this week, with the sound of earlier comments coming back to haunt the Treasurer, while the government's "echonomics" taunt remains strong. Meanwhile, energy and housing affordability both made it onto the agenda.

Redcliffe-based construction services company Global Construction Services Ltd has debuted strongly on the Australian Stock Exchange, rising 20 per cent from its offer price to close at $1.20.

Perth-based uranium company Desert Energy Ltd, a spin-off from gold explorer Aurora Minerals Ltd, has closed at 18 cents, down from its offer price in its debut on the Australian Stock Exchange in a negative market.

Long-term Michael Kiernan business ally Allan Quadrio will join the board of Territory Resources Ltd as managing director, passing his role at Kiernan's Monarch Gold Mining Company Ltd to Matthew Gill.