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.
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.
Two major organisations have recently honoured successful Western Australians, with the Australian Institute of Company Directors presenting exellence awards to Wayne Osborn and Erica Smyth, while Curtin University has recognised the achievements of two former 40under40 winners.
LandCorp and the Metropolitan Redevelopment Authority have combined to release more than 150 lots of commercial, residential and industrial land across Perth and regional Western Australia, which could generate up to $1.3 billion in development opportunities.
LandCorp has challenged local builders to develop solutions to difficult site conditions and to showcase high-tech, innovative medium-density construction capability through two separate expressions of interest campaigns.
Commonwealth Bank will sell its asset management arm to Mitsubishi UFJ Financial Group for $2.9 billion in a surprise sale, the latest business to be sold by an Australian financial giant amid unprecedented regulatory scrutiny.