Western Australia News
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Asia’s benchmark stock index is poised for a second weekly advance after Japan’s Topix Index closed at the highest level since 2008 as leasing companies rallied on a report Prime Minister Shinzo Abe will encourage the practice as part of his growth strategy.
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Asia’s richest woman Gina Rinehart said Australia should follow the example of Singapore’s former prime minister to stimulate development of its northern regions.
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Grain growers in Western Australia, the country’s second-biggest wheat-producing state last year, are set to receive rain in the coming days, boosting planting prospects as farmers sow winter crops.
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WorleyParsons Ltd., Australia’s largest oil and gas engineering company, plunged the most in four and a half years after cutting its earnings forecast following lower resource spending in Australia and Canada.
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Oilseed production in Australia and Ukraine, the world’s second- and third-biggest exporters of rapeseed, may be at risk amid dry weather, Oil World said.
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PetroChina Co., Asia’s biggest oil and gas producer, dropped a bid to acquire WestSide Corp. as a strong Australian dollar and rising costs discourage resources projects in the country, the Brisbane-based explorer said.
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Rio Tinto Group must pay past royalties on ore mined in Western Australia to Asia’s richest woman Gina Rinehart and Wright Prospecting Pty, a judge ruled.
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AngloGold Ashanti Ltd., the third- biggest producer of the metal, said first-quarter profit rose with output following the end of strikes as it focuses on cutting costs.
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Grain growers in Western Australia, the country’s second-biggest wheat producer last year, are set to accelerate planting of winter crops after rain this week boosted soil moisture, according to CBH Group.
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The Reserve Bank of Australia cut its inflation outlook and reiterated its forecast for “below trend” growth this year, driven by an elevated currency, a crest in resource investment and fiscal tightening.
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