Sat, 23rd May 2026

This week's Finance News Wrap features major news from the defence and finance sectors in Australia. Austal Limited, a leading Australian shipbuilder, has secured a 4 billion dollar contract from the Commonwealth Department of Defence to construct eight large vessels, significantly enhancing naval capabilities and creating numerous jobs. Meanwhile, non-bank lender Firstmac has introduced its first secured caravan loan for homeowners, appealing to the growing popularity of caravan trips. The Reserve Bank of Australia has raised the official cash rate to 4.35% due to rising inflation rates, impacting mortgage holders notably. Lastly, non-bank lenders are pushing for inclusion in Australia's Economic Resilience Program, a 1-billion-dollar investment, aiming to foster competition and potentially offer better loan terms for small to medium-scale businesses. For more, visit their website.