A $2.4 billion surge in revenue above forecast levels helped the state government record a $1.3 billion operating surplus in the year to June, but the overall cash position of the budget is still in a deficit of $924 million.
Industry bodies are divided over a plan to increase regulation of short-stay accommodation providers such as Airbnb, with Tourism Council WA and the Australian Hotels Association among supporters of the proposed rules.
Power utility Synergy has taken a $446 million impairment and reported a loss of $656.9 million in the year to June, which the state government-owned business said was driven by higher fixed costs as revenue fell.
Premier Mark McGowan says the state government has not considered scrapping its foreign buyer surcharge for residential property to help smooth over tension with Western Australia's biggest trading partner, despite rising concern over risks to the state’s economy.
Consumers have saved $7.5 billion through the Economic Regulation Authority’s tight leash on major utilities, according to chair Nicky Cusworth, but work is needed to make the state's rules regime more effective.
Synergy has secured a substantial electricity supply deal with the North Metropolitan Health Service, one of several electricity contracts awarded by government agencies in the health and education sectors in recent months.
The McGowan government has inked its biggest privatisation deal yet, with Landgate’s titles register to be operated by a consortium including industry superannuation funds and a Macquarie Group fund, in a deal worth $1.4 billion.
The number of women in executive leadership positions across Australia’s largest listed companies is slowly increasing according to a new report, with Emeco Holdings, Wesfarmers and South32 the top performers for Western Australia.
Perth residents’ median age is up, they share their home with fewer people, but are much more likely to be working and paying off a housing loan than their forebears 70 years ago, a new study has found.