Mar 22, 2018 Last Updated 10:48 AM, Mar 21, 2018

New Entry From the Editor :

Glencore acquires $1.7 billion Hail Creek coal mine as rivals exit the industry

Glencore acquires $1.7 billion…

AusBN - Glencore will purchase Rio Tinto’s Hail Creek coal mine in Qu...

TPG Telecom H1 profit dips 11% to under $200 million

TPG Telecom H1 profit dips 11%…

AusBN - Telecommunications firm TPG Telecom has posted a first-half net pro...

Australian junior Raiden Resources strikes momentous deal with Rio Tinto

Australian junior Raiden Resou…

AusBN - Raiden Resources (ASX:RDN) will enter a joint venture with Rio Tint...

Construction slump could hit 2016 growth

constructionAusBN – Australia’s construction industry contracted in December, despite an increase in housebuilding.

The Australian Industry (Ai) Group’s Performance of Construction Index dropped 3.9 points to 46.8 points, ending a four-month run of expansion.

Ai Group’s chief economist Julie Toth commented: “Looking ahead, the downturn in new orders across all four construction sub-sectors in December is a concern for 2016.”

Engineering construction has been contracting for 18 consecutive months, due largely to the decline in mining activity and large-scale government projects.

And with building approvals slumping by 12.7% in December, it looks like housing investment could soon be on its way down too.


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