Author: MIL-OSI Publisher

Source: Commonwealth Bank of Australia (CommBank)

The latest HSI Index shows May spending got a boost from travel and events, but CBA economists expect spending slowdown to continue.

17 June 2026 – Key points:

• The Household Spending Insights (HSI) Index rose 0.2% in May, following a fall in April.
• The strongest spending categories were Recreation (2.3%) and Hospitality (1.0%), boosted by sporting events like the State of Origin and a recovery in travel.
• Annual spending growth printed at 4.5%, but CBA economists expect spending to slow through the second half of 2026 under the weight of weaker household income growth. 

Household spending edged higher in May, returning to modest growth after a dip in April, as Australians lifted spending on discretionary items despite ongoing cost of living pressures.

The latest CommBank Household Spending Insights (HSI) Index showed gains across seven of the 12 categories, led by recreation and hospitality, with travel demand seeing some recovery and major events like State of Origin football games series supporting activity.

“Household spending is continuing to grow, despite a more uneven pattern in recent months,” CommBank’s Head of Australian Economics, Belinda Allen said.

“While higher interest rates and inflation are weighing on households, consumers were willing to spend on experiences like travel, dining and events during the month of May.”

Not all categories strengthened in the month. Utilities recorded the largest decline, falling 3.9 per cent due to seasonal volatility, while Education and Transport spending also eased, partly reflecting the timing of the bill payment cycle and lower petrol prices.

Softness emerging for Australians with a mortgage

Those with a mortgage are beginning to show signs of slowing down their spending, after outperforming other households over the past year, likely reflecting higher interest rate costs.

By contrast, renters have taken the lead, recording the fastest pace of annual spending growth in May amongst other households.

Renters stand out for their stronger spending on discretionary categories, especially hospitality, highlighting a continued preference for experiences.

Spending expected to slow in 2026

Household spending is expected to soften further in the second half of 2026 as higher borrowing costs and inflation continue to take a toll on household budgets.

“The RBA held the cash rate steady in June but remains willing to hike again if inflation proves more persistent than expected,” said Allen.

“The RBA acknowledged that consumer spending was slowing. We continue to expect the RBA to remain on hold for the remainder of 2026 and expect two rate cuts in 2027 based on our economic outlook.”

Read the full report here: https://www.commbankresearch.com.au/apex/researcharticleviewv2?id=a0NOa00000L0JHt

Anders Opedal, president and CEO of Equinor ASA: “Demand continues to grow and Equinor is uniquely positioned to provide reliable energy. We will deliver more energy, growing cash flow and superior returns towards 2030.”

“Our strategy is to maximise value on the Norwegian continental shelf, deliver focused growth in international oil and gas, build a competitive integrated power business and create more value uplift through trading and market optimisation.”

“Equinor has delivered industry-leading returns over 25 years as a listed company, with a total shareholder return of almost 1,800%. We have confidence in our plans and are committed to continue creating strong value for shareholders. Equinor aims to double share buy-back for 2026 to USD 3 billion and introduces a more predictable framework for share buy-backs from 2027. We aim to continue growing the cash dividend per share by more than 5% annually.”

Key ambitions and strategic priorities:

More energy

Production growth of 150,000 barrels of oil equivalent (boe) per day to 2.3 million boe per day by 2030
Production outlook for the Norwegian continental shelf (NCS) increased by 100,000 boe, to 1.35 million boe per day in 2030, and 1.3 million boe per day in 2035
International oil and gas production growth of 30%, to 950,000 boe per day by 2030
Power production growth to more than 20 TWh in 2030, mainly from projects in execution

Growing cash flow

30% growth in cash flow from operations (CFFO) after tax from 2025-2030
USD 1 billion in increased investments in 2027 to high return oil and gas projects. Expected organic investments (capex) at around USD 12 billion, or around USD 10 billion including Empire wind tax credits.
Annual capex of USD 11–13 billion expected for 2028-2030, with around 60% to the NCS, 30% to international oil and gas, and 10% to power
Free cash flow, after capex and lease payments, of more than USD 40 billion for the period 2026-2030

Superior returns

Return on average capital employed (ROACE) above 15% annually from 2026-2030
Intend to double share buy-back for 2026 to USD 3 billion
Annual share buy-back of USD 2-4 billion from 2027, based on oil prices of USD 60-80 per bbl and European gas prices USD 7-11 per MMBtu, balance sheet strength, and macro-outlook
Above 5% annual growth in quarterly cash dividend per share

A strategy for growing energy markets

Oil and gas demand is expected to be higher for longer. Together with stronger political focus on energy security and affordability, this increases the need for reliable supply. Electrification and the AI build-out are driving power demand, while increasing intermittency creates a greater need for flexible power generation.

Equinor’s access to high-quality infrastructure, broad energy offering and strong market positions provide attractive opportunities for growth and value creation.

Develop NCS to maximise value

The NCS is the backbone of Equinor’s business and a key driver of long-term cash flow and value creation. Equinor is the largest energy provider to Europe, delivering oil, piped gas and LNG with low cost and low emissions.

Around 60% of capex will be allocated to further develop the NCS. Equinor expects production at 1.35 million boe per day in 2030 and 1.3 million boe per day in 2035. This represents an increase in production outlook of 100,000 boe per day.

To accelerate resource maturation, cut costs and industrialise subsea field developments, Equinor is redefining its operating model. The company has a large portfolio of attractive investment opportunities including sub-sea field developments and increased recovery (IOR), with break-even prices below USD 35 per barrel and payback time of less than 2,5 years. Equinor plans to develop 6 to 8 new tie-back projects annually, towards 2035.

Increased recovery and high exploration activity will continue to add new recoverable resources to extend longevity.

Focused growth in international oil and gas

Equinor has systematically improved the competitiveness of the international oil and gas portfolio and holds positions in several world-class basins, as the US, Brazil, Angola, the UK and Canada.

Equinor expects to allocate around 30% of capex to international exploration and production. Production is anticipated to increase by around 30% to approximately 950,000 boe/d, growing cash flow from operations (CFFO) by around 80% to approximately USD 9 billion in 2030. The portfolio is expected to deliver around USD 20 billion in free cash flow after capex and lease payments from 2026 to 2030.

Longevity for the international oil and gas portfolio will be extended beyond 2030 by progressing non-sanctioned projects and focused exploration.

Building a competitive power business

Equinor is concentrating its power growth in selected markets and segments, where integration with a broader energy offering is achievable.

Equinor expects to allocate around 10% of capex to developing an integrated power business. A fourfold increase in production is anticipated, reaching more than 20 TWh by 2030, mainly from projects in execution.

Cash flow from operations is expected to fund organic investments, after tax credits, from 2027-2030. Projects are expected to deliver nominal equity returns above 10%, with additional potential for portfolio uplift.

Value uplift from marketing and trading

Equinor has a strong position as a global asset-backed energy trader with direct market access.

Equinor will expand its marketing and trading capabilities in selected markets. The company aims to capture additional value from its flexible portfolio, long-term position-taking and cross-commodity trading, and advancing digital tools and AI.

Adjusted operating income from trading and market optimisation is expected to increase by 25% to around USD 500 million per quarter by 2030.

Growing production while reducing emissions

Equinor is an industry leading operator with low CO2 and methane intensity from operations.

While oil and gas production will increase, Equinor maintains the ambition to reduce operated emissions by 50% towards 2030. Electrification on the NCS and improved energy efficiency across the portfolio are key enablers.

Equinor expects to reduce its net carbon intensity in the range of 15-30% by 2035 (1).

Competitive and predictable capital distribution

Equinor announces an intention to increase the 2026 share buy-back programme by USD 1.5 billion, bringing the total expected programme for 2026 to up to USD 3 billion, including shares to be redeemed from the Norwegian State. The increase will be distributed equally to the third and fourth tranche of the 2026 share buy-back programme.

Equinor expects to launch the third and fourth tranches following the announcement of the company’s second and third quarter 2026 results, respectively. The increased share buy-back for 2026 is subject to separate board approvals prior to commencement of the third and fourth tranches.

For 2027 and beyond, Equinor announces a range-based guidance for share buy-backs of USD 2–4 billion per year, based on an oil price range of USD 60–80/bbl, a European gas price range of USD 7–11/mmbtu, balance sheet strength, and macro-outlook.

The level and commencement of future share buy-back tranches will be decided by the board on a quarterly basis, in line with the company’s dividend policy, and will be subject to existing and future board authorisations for share buy-back granted by the company’s General meeting, as well as agreements with the Norwegian State regarding share buy-backs.

All share buy-back amounts include shares to be redeemed from the Norwegian State.

Equinor aims to continue growing the quarterly cash dividend per share by more than 5% annually.

(1) This includes scope 1, 2, and 3.

The information on capital distribution is considered to be inside information for Equinor ASA pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

This stock market announcement and press release contains Forward Looking Statements. Please see the Forward-Looking Statement disclaimer published on Equinors web site.

All forward looking financials are based on reference case unless otherwise specified. See appendix in CMD presentation material for key assumptions and definitions.

Boomi Study Finds APAC Organisations Risking AI ROI Without Strong Data Foundations

The Omdia survey of more than 1,100 senior technology and business decision-makers across Australia, New Zealand, Singapore, Malaysia, and the Philippines found that 74% are already running active AI initiatives. Nine in 10 believe AI-enabled automation will significantly reshape their business processes within two to three years.

Despite the adoption momentum, only 46% currently have a platform-led approach to integration, highlighting a widening gap between AI ambition and execution. Meanwhile, nearly a quarter said they are unable to effectively measure the success of AI initiatives, a critical gap when trying to assess ROI.

“APAC organisations are moving quickly on AI, but the research suggests that many organisations still appear to treat AI as an extension of broader technology spending rather than a strategic business transformation initiative,” said David Irecki, Chief Technology Officer, APJ, Boomi. “The gap between adoption and ROI realisation stems from one fundamental issue: weak data foundations. Without unified integration, governance, and data quality frameworks, each new AI initiative adds complexity rather than value.”

The research found that 89% are actively seeking to reduce tool and technology sprawl, and 92% are already consolidating across data, process integration, application programming interface (API) management, and automation.

Data Governance as a Key Priority

Meanwhile, 94% of APAC organisations view data integration, access, and governance as a key priority, while 93% believe AI initiatives will increase focus on data quality and governance policies. Still, only half of respondents have formal AI-specific data governance policies in place, and 81% said unmanaged shadow integrations are disrupting data quality and confidence.

“Nine out of 10 organisations we've surveyed cite governance as a priority, but only half have formal policies in place,” said Michael Barnes, Chief Analyst, Enterprise IT Asia at Omdia. “When teams are building AI models on data they don't fully control or orchestrate across systems, they lack visibility into what's feeding what. That gap becomes a real business risk.”

Data sovereignty is emerging as a major consideration, with 76% of firms expressing concerns about data residency requirements. However, only 24% said those concerns are having significant impact on their data integration or AI strategies, suggesting many organisations are still in the early stages of operational planning.

Scaling for Competitive Advantage

“Scaling AI successfully depends on trusted, connected, and governed data. CIOs and senior IT leaders are increasingly focused on simplifying fragmented environments, improving data quality and building the operational foundations required to support enterprise-scale AI,” added Irecki.

“The strong pace of AI adoption across APAC — led by Malaysia at 86% and Singapore at 78% — demonstrates that organisations are moving beyond experimentation and into implementation, but it's time for organisations to put in place the right data foundations, integration capabilities, and governance structures.”

“Without this shift, organisations risk creating isolated AI activity without delivering measurable business outcomes. Governance, data quality, and clear performance measurement are what transform AI deployments into sustainable business value, enabling organisations to translate adoption into productivity gains, operational efficiency, and competitive advantage,” said Irecki.

Download the full report, “AI Ambition Meets Data Reality: APAC Technology Priorities and Challenges 2026”, from https://boomi.com/content/report/apac-tech-priorities-ai-2026/

About Boomi

Boomi, the data activation company for AI, powers the agentic enterprise by bringing data to life across the business. The Boomi Enterprise Platform is the active data foundation that delivers essential agentic infrastructure to drive agentic transformation. By unifying agent design and governance, API and MCP management, integration and automation, and data management into a single platform, Boomi enables organizations to harness the power of AI with secure, scalable connectivity. Trusted by over 30,000 customers and supported by a network of 800+ partners, Boomi helps organizations of all sizes achieve agility, efficiency, and innovation at scale. Discover more at boomi.com.

Source: Equinor

15 JUNE 2026 – New volumes in the Johan Sverdrup area provide the basis for Johan Sverdrup phase 4. Equinor and the partnership are now maturing a new subsea development that will help maintain production and value creation from Norway's largest oil-producing field. This also contributes to Europe's energy security.

Recently completed appraisal wells in the Johan Sverdrup area have proven increased oil volumes. Discoveries made in the Tonjer wells and Geitungen will now form the basis for Johan Sverdrup phase 4.

“These are important and profitable volumes for Johan Sverdrup. By tying new resources to existing infrastructure, we can develop them quickly, with low costs and low emissions. At the same time, they contribute to maintaining production and value creation from one of Norway's largest oil-producing field over time,” says Kjetil Hove, executive vice president for Development and Production Norway.

The volumes from Tonjer west and east, and Geitungen are planned to be developed through a subsea development tied back to existing infrastructure on Johan Sverdrup. The resources will help maintain production from the field.

“Johan Sverdrup has been the backbone of Norwegian oil production since its inception. In order to maintain production and value creation for decades to come, we must continuously develop new resources around the existing infrastructure. Phase 4 is a good example of how we can get more out of a world-class field,” says Hove.

Tonjer is located in the northernmost part of the Geitungen terrace in the Johan Sverdrup area. Oil has previously been discovered in the area, but the volumes and potential have been uncertain. The drilling of two appraisal wells and a sidetrack has now provided the basis for a more precise assessment of the resource base.

Preliminary estimates for Tonjer and Geitungen combined are between 20 and 30 million barrels of oil equivalent. Further analyses of subsurface data will form the basis for more precise resource estimates.

The project is now being matured towards an investment decision with a possible production start-up in 2029 as part of Equinor's plans to accelerate the company's large portfolio of subsea developments.

The goal is to increase value creation from existing fields through faster project development and an increase in the number of subsea developments tied back to existing infrastructure. This also reflects the partners' common strategy.

The licensees in the Johan Sverdrup Unit are: Equinor (42.62%), Aker BP (31.57%), Petoro (17.36%) and TotalEnergies (8.44%).

Source: Amnesty International

15 June 2026 – Responding to the detention of two Chinese Protestant church leaders and the interrogation by police of multiple members of the congregation during a service on Sunday, Amnesty International’s Deputy Regional Director Sarah Brooks said:

“The detention of church leaders from the Early Rain Covenant Church is the latest example of the Chinese government’s efforts to crack down on independent religious activity and enforce state control over belief and worship.

“Over the past year, authorities have intensified control over religious activities through unlawful surveillance, raids and unfair prosecutions under anti-‘cult’ and security provisions – resulting in repeated attacks on individuals solely for peacefully exercising their right to religious freedom.

“Members of the Early Rain Covenant Church have faced years of harassment and intimidation – the 2019 imprisonment of its leader Wang Yi marking the start of a period of intensifying repression of Christian groups in China.

“The Chinese authorities must immediately release the two leaders detained,  end their  crackdown on all religious groups in the country, and uphold the right of everyone to freedom of religion. No one should be detained simply due to their religious beliefs.”

Background

The Early Rain Covenant Church said on Monday it was raided by armed police midway through its Sunday service in the south-western city of Jiangyou, Sichuan province.

Spokespersons for the church said more than 30 members were taken away for interrogation, and two leaders remain detained. A church messaging account shared photographs and videos that show congregants surrounded by SWAT (Special Weapons and Tactical Unit) officers.

Founded in 2005, the Early Rain Covenant Church is one of the largest and most prominent “house churches” in China. In December 2018, authorities carried out a large-scale crackdown on the church, detaining more than 100 members. The church’s founding pastor Wang Yi was later convicted of “inciting subversion of state power” and “illegal business operations” and sentenced to nine years’ imprisonment in December 2019.

Amnesty International has documented an intensification in the Chinese government’s repression of religious activities over the past year. In September 2025, authorities introduced the Religious Personnel Online Conduct Rules, further tightening state control over religious activities and imposing additional restrictions on the online activities of religious personnel, while requiring their support for the leadership of the Chinese Communist Party.

In October 2025, authorities launched a nationwide operation against the unofficial Zion Church network, detaining nearly 30 pastors and members in at least seven cities, of which at least 18 individuals were formally arrested on suspicion of “illegally using information networks”.

Under international human rights law, everyone has the right to freedom of thought, conscience, religion or belief, including the freedom to manifest their religion or belief in worship, observance, practice and teaching, either individually or in community with others and in public or private.

Source: Goldcrest (Real Estate)

 

Sub1: As global high-net-worth individuals pivot from status and spectacle to privacy, wellbeing, and long-term lifestyle, Goldcrest, Portugal's property advisory firm, dedicated exclusively to buyers— identifies the country as uniquely positioned to meet this shift. 

 

Lisbon — 15 June 2026 — Goldcrest, Portugal’s property advisory firm, dedicated exclusively to buyer’s, published a new article identifying Portugal as the most compelling destination for the evolving luxury property buyer – Redefining Luxury Living: Why Portugal aligns with Today’s Global Shift. According to the buyer’s agent, a fundamental realignment in what high-net-worth individuals (HNWIs) value is underway globally, and Portugal is uniquely equipped to meet that demand.

 

The findings, published by Goldcrest, draw on global wealth migration trends and on-the-ground market intelligence to make the case that luxury has fundamentally redefined itself. Where it once signalled status and scale, it now centres on privacy, discretion, security, and time well spent.

 

Privacy as the New Status Symbol

Citing analysis from Business Insider, Goldcrest notes that privacy has become the ultimate status symbol among the world’s most affluent buyers. Properties are increasingly designed to be lived in rather than showcased, with space, craft, comfort, and discretion taking precedence over visual spectacle. At the same time, a non-stop global environment is driving demand for properties offering peace and seclusion without isolation.

 

“The modern luxury buyer is making decisions shaped by wellbeing, family, and lifestyle,” said Gonçalo Peixoto, Head of Real Estate at Goldcrest. “Portugal has quietly become the answer to a question that buyers in London, New York, and Dubai are increasingly asking: where can I live exceptionally well, with space and privacy, and do so with long-term clarity as well as financial returns?”

 

Why Portugal

Goldcrest’s analysis points to several converging factors that distinguish Portugal from traditional luxury markets.

 

Quiet luxury on the Alentejo Coast: Areas including Comporta and Melides — often described as the “Hamptons of Europe” — offer an architecture rooted in local tradition, nestled within pine forests, rice paddies, and white sand dunes. These locations have drawn global designers, architects, and creatives precisely because of their understated character and long-term liveability.

 

Privacy without isolation: Portugal’s compact geography enables seamless movement between international connectivity and private retreat. Ranked seventh safest country in the world by the latest Global Peace Index, and underpinned by political stability and a welcoming culture, Portugal presents as a secure long-term base.

 

Lifestyle and value: Compared with luxury benchmarks in London, Paris, New York, and Dubai, Portuguese properties offer significantly more space for equivalent investment, with strong capital appreciation potential in a maturing, diversifying market. Year-round mild climate, world-class beaches, and an internationally recognised quality of life reinforce the proposition.

 

Strategic resilience: As geopolitical and economic uncertainty continues to reshape where and how wealthy individuals choose to live in 2026, Portugal offers EU membership benefits, a stable jurisdiction, and robust links to Europe, the Americas, Africa, and Asia.

 

Demand Expanding Beyond Traditional Hotspots

While Lisbon, Cascais, and the Algarve remain the most in-demand areas among luxury buyers in 2026, Goldcrest’s data shows demand spreading further. The Alentejo is attracting buyers seeking expansive land and full privacy; the Silver Coast is drawing those in search of lower-density beachfront living; and the Douro Valley is emerging as a destination for lifestyle-led investments centred on wine culture and heritage.

 

“Portugal’s diversity of landscapes and property types — from vineyard estates and historic palaces to contemporary coastal villas — means that buyers can genuinely align their purchase with their way of living,” added Peixoto. “That is increasingly rare in a saturated global luxury market.”

 

Click here to read Goldcrest’s full article: Redefining Luxury Living: Why Portugal aligns with Today’s Global Shift

 

About Goldcrest Buyers Agent

Goldcrest is Portugal’s first independent buyer’s agent, providing expert, impartial advice on property acquisition across the country. Goldcrest is dedicated exclusively to protecting the interests of buyers, from property search through to acquisition and long-term rentals.

Source: James Cook University, Australia

 

A major analysis of 25 studies across Africa and Asia finds that insecticide-treated nets cut malaria cases by up to 68 per cent – but highlights challenges that threaten to undermine their long- term impact.

 

The study, published in the peer-reviewed journal Infectious Diseases, confirms that insecticide- treated nets (ITNs) continue to provide strong protection against malaria – but reveals that their effectiveness varies considerably between regions and communities.

 

The research was led by Dr Gbeminiyi Otolorin, a doctoral researcher at James Cook University, Australia, and a veterinary public health clinician and researcher in the Faculty of Veterinary Medicine at the University of Jos, Nigeria.

 

He said these findings suggest that the performance of this relatively simple, low-cost intervention is under pressure – particularly in areas where insecticide resistance is already established.

 

The researchers warn that without locally adapted control strategies that combine ITNs with other mosquito control measures, progress made over recent decades could be at risk.

 

“While this study reinforces that ITNs remain one of the most powerful weapons we have against malaria, it is also a warning that we cannot afford to become complacent,” Dr Otolorin said. 

 

“Mosquitoes are developing resistance and adapting their behaviour – and a tool that works well in one place may already be failing in another. We must continuously monitor, evaluate and tailor our control strategies as we strive towards global elimination of the disease.”

 

Malaria is a life-threatening disease caused by a parasite transmitted to humans through the bites of infected mosquitoes.

 

In 2024, there were an estimated 282 million cases and 610,000 deaths from the infection worldwide.

 

ITNs are among the most widely used and cost-effective tools in malaria prevention – protecting individuals while reducing mosquito populations and cutting transmission across entire communities.

 

In order to get a better understanding of how much insecticide-treated nets truly reduce malaria illness and death, the researchers analysed data from 25 experimental studies comparing ITN performance with no nets. These included 19 studies examining malaria incidence and six assessing malaria-related deaths, spanning eight African and four Asian countries.

 

Study populations included children under five, pregnant women, households, and entire communities, with follow-up periods ranging from two months to five years. The findings confirm the strong protective effect of ITNs across these diverse settings.

 

In Asia, ITNs were associated with a 68% reduction in malaria cases and an 18 per cent reduction in malaria- related deaths. In Africa, they reduced malaria incidence by between 29 per cent and 40 per cent.

 

However, the researchers also identified considerable variation in the effectiveness of ITNs between studies, particularly in Asia.

 

They suggest these differences may be influenced by complex local factors – including mosquito species diversity, patterns of insecticide resistance, and community compliance with net use.

 

“ITNs are undeniably an effective tool that has saved millions of lives and will continue to do so – but relying on them alone is not enough, particularly in areas with established insecticide resistance,” said Dr Otolorin, a specialist in infectious disease epidemiology.

 

“Integrated strategies that combine nets with other interventions should now be considered essential – otherwise we risk losing ground in the fight against a disease that still kills hundreds of thousands of people every year.”

 

The paper calls for further research evaluating long-term net durability, community compliance, and insecticide resistance patterns.

 

“My hope is that this work adds to the existing evidence base supporting malaria control efforts and contributes to ongoing discussions around how insecticide-treated nets can be improved, adapted, and used effectively in communities where malaria prevention remains a priority,” Dr Otolorin said

Source: Commonwealth Bank of Australia (CommBank)

New CommBank Business Innovation Awards and free online training launch as research shows SMEs are putting ideas to work, but cost, time and resource barriers are limiting progress.

16 June 2026 – CommBank has today announced new support for small and medium businesses putting practical ideas to work, with the launch of the CommBank Business Innovation Awards and free online training through the Wade Institute of Entrepreneurship, in partnership with the University of Melbourne.

The announcement comes as Australia looks to lift productivity, competitiveness and living standards. SMEs account for 55 per cent of business research and development expenditure in Australia¹, making their ability to turn ideas into new products, services and better ways of working important to future growth.

Through the Awards, free online training and partner support, CommBank aims to help SMEs build capability, celebrate practical innovation already happening across Australia and encourage more businesses to act on their ideas. The University of Melbourne, Square Peg, Amazon Web Services and Deloitte are supporting the Awards.

Putting new ideas into practice

CommBank research² shows SMEs are putting new ideas into practice to improve efficiency or productivity (62 per cent), stay competitive (57 per cent) and meet customer demand (46 per cent), suggesting many are using innovation both to manage pressure and pursue growth.

The findings also point to an ideas-to-impact gap. While 87 per cent of small and medium businesses have introduced new products, services or processes in the past three years, or plan to do so in the next 12 months, 82 per cent face barriers putting new ideas into practice, including the cost of development and implementation (34 per cent) and lack of time or resources (33 per cent).

CommBank Group Executive Business Banking, Mike Vacy-Lyle, said: “Productivity matters because over time it supports stronger wages, competitiveness and living standards. But for business owners, productivity is not abstract. It can mean quoting faster, cutting time from admin, using data to manage stock, adopting technology, or freeing teams up to spend more time with customers. Those changes do not always look like major breakthroughs, but they can make a real difference.

“CommBank research shows small and medium businesses are already putting ideas into action, but many are being held back by cost, time, resources and capability. That is the gap we want to help address.

“Access to finance matters, but so do skills, confidence, momentum and the right connections. By bringing together the Awards, free training and support from our partners, we want to celebrate businesses already creating impact and help more businesses build the capability to grow,” said Mr Vacy-Lyle.

New CommBank Business Innovation Awards celebrate SME innovation

At the centre of this support are the CommBank Business Innovation Awards, which will recognise emerging, scaling and established SMEs turning new technology, products, services and better ways of working into practical outcomes. Applications open in July to eligible SMEs across Australia, even if they don’t bank with CommBank.

Winners and finalists will receive practical support designed to help build capability and momentum, including cash grants, mentoring from Square Peg, University of Melbourne hosted bootcamps, AWS funding, Deloitte and AWS workshops and, for selected category winners, a Seattle learning experience including visiting Amazon Web Services and CommBank’s Seattle Tech Hub.

To help more businesses build capability, CommBank has partnered with the University of Melbourne to provide online innovation training for Australian SME Businesses through the Wade Institute of Entrepreneurship – available to business owners, employees and aspiring entrepreneurs across Australia, even if they don’t bank with CommBank. Participants can complete individual modules or the full self-paced course, with a certificate from the Wade Institute available to those who complete the full program.

The Wade Institute’s Managing Director Jessica Christiansen-Franks said “Practical innovation is not only about starting a new business or developing a breakthrough invention. In many businesses, it starts with asking how a product, process, customer experience or business model could be better. The training is fully online and self-paced, with modules focused on real business challenges and principles that can be applied across industries and business types.”

Innovation is more than tech alone

Further CommBank research findings show practical innovation is broader than big tech, venture capital or breakthrough inventions with recent or planned activity spanning:

• product and service development (69 per cent)
• digital and technology adoption (69 per cent)
• customer experience improvements (68 per cent)
• operational and process improvements (64 per cent)
• sustainability initiatives (52 per cent).

Among SMEs that have already introduced new products, services or processes, the strongest enablers were reinvesting profits (50 per cent), hiring people with the right skills (35 per cent) and staff undertaking additional training or studies (34 per cent), showing practical support is about capability as well as capital.

Businesses can access the free online training, learn more about the CommBank Business Innovation Awards and register to be notified when applications open at commbank.com.au/innovation.

Notes:

¹About the SME R&D statistic – Source: Strategic Examination of R&D discussion paper (page 27). BERD stands for Business Expenditure on Research and Development. SME definition for this statistic is businesses with 0–250 employees.

²About the CommBank research – The CommBank-commissioned research was conducted by YouGov between 16 and 24 October 2025. The survey was completed by a nationally representative sample of 500 Australian small and medium business owners and senior decision makers. Results were weighted by location and business size to be representative of Australian small and medium businesses. Small businesses were defined as having 1–19 employees and medium businesses as having 20–199 employees.

About the CommBank Business Innovation Awards – The CommBank Business Innovation Awards are designed to recognise, celebrate and support innovative Australian businesses at different stages of growth. Applications are expected to open in July across three categories:

• Emerging Innovators: for businesses with annual revenue up to $3 million, recognising original ideas that solve a meaningful problem, show early progress and have a credible pathway to market.
• Scaling Innovators: for businesses with annual revenue between $3 million and $15 million, recognising innovations already delivering value for customers, supporting commercial growth and showing potential to scale further.
• Proven Innovators: for businesses with annual revenue between $15 million and $50 million, recognising established businesses whose innovation has delivered strong commercial performance, broader impact and potential for continued expansion.

About the Wade Institute training – The online innovation training has been developed through the Wade Institute, in partnership with University of Melbourne. The course is available to people across Australia. Participants do not need to be CommBank customers or sign up to a CommBank product to complete the course. Participants who complete all modules will receive a certificate of completion from the Wade Institute.

Source: Alpha HPA

Australian chemical manufacturing company Alpha HPA says booming global investment in artificial intelligence, semiconductor manufacturing and electric vehicle batteries is driving unprecedented demand for its high-purity aluminium materials, with customer demand now exceeding the planned capacity of its flagship Gladstone facility.

Alpha HPA (ASX: A4N), which is building the world's largest single site manufacturing facility for high-purity aluminium materials in Gladstone, Queensland, announced today it now holds Letters of Intent covering more than 12,000 tonnes of annual product demand, exceeding the Stage Two facility's planned production capacity of 10,430 tonnes per year.

The latest commitments include a South Korean semiconductor supply chain customer, a global specialty materials manufacturer and a leading lithium-ion battery materials producer.

Alpha HPA Managing Director Rob Williamson said the surge in demand reflected the critical role advanced materials play in supporting next-generation technologies.

“The global build-out of AI infrastructure is creating enormous demand for these specialised materials that help semiconductors run faster, cooler and more efficiently,” Mr Williamson said.

“As artificial intelligence systems become more powerful, the chips that power them generate more heat. Our materials are increasingly being used to improve thermal management, semiconductor packaging and manufacturing processes that are essential to the next generation of AI technology.”

The company has secured a new Letter of Intent from a South Korean customer for up to 300 tonnes a year of high-purity alumina products used in semiconductor thermal fillers. These materials help transfer heat away from advanced chips used in AI servers and data centres.

Another agreement covers up to 180 tonnes a year of high-purity alumina hydrate for specialist catalyst applications, while a third commitment is for up to 5,000 tonnes annually of high-purity aluminium products used in advanced lithium-ion batteries.

Mr Williamson said demand from semiconductor manufacturers continued to accelerate as technology companies invest hundreds of billions of dollars globally in AI infrastructure.

“The scale of investment flowing into AI infrastructure globally is creating demand for specialised materials that simply weren't required a decade ago. What we're seeing now is customers looking to secure long-term supply of these materials as semiconductor production expands,” he said.

“We are seeing growing demand across multiple semiconductor applications, including advanced packaging, thermal interface materials, chip manufacturing and high-bandwidth memory used in AI systems.”

“Our customers are increasingly seeking ultra-high purity materials with extremely low levels of uranium and thorium impurities. These impurities emit alpha radiation that interferes with advanced semiconductors. Our process technology allows us to produce the lowest alpha-radiation materials available anywhere in the world.”

Alpha HPA is currently producing commercial quantities of high-purity materials at its Stage One facility in Gladstone while construction continues on the much larger Stage Two expansion, scheduled for completion late next year.

The company is also reporting growing interest from semiconductor manufacturers seeking to diversify supply chains.

Recent customer engagement has included meetings with major semiconductor manufacturers and materials companies across the United States, Japan, South Korea, Taiwan and Europe.

Beyond semiconductors, Alpha HPA is supplying materials into battery technologies, direct lithium extraction (DLE), ceramic tooling, synthetic sapphire glass, catalysts and pharmaceutical applications.

The company's proprietary purification process delivers ultra-high purity aluminium products with significantly lower carbon emissions than conventional manufacturing methods, positioning Australia as an emerging supplier of critical materials for the global technology sector.

With Letters of Intent now covering more than 12,000 tonnes of annual demand against planned Stage Two production capacity of 10,430 tonnes per year, Alpha HPA says it continues to evaluate future growth opportunities beyond the current expansion program.

Source: AMES

Syrian and Iraqi refugees who came to Australia as a result of the conflict in their homelands are overwhelmingly happy with their lives, feeling safe and optimistic about the future and have become citizens, according to a new survey.

They are also feeling welcome and their children are doing well, according to the survey, commissioned to mark ten years since Australia began accepting Syrian and Iraqi refugees who were fleeing the conflicts sparked by the rise of the militant group ISIS.

But some families and individuals are still struggling with the cost-of-living issues, securing affordable housing and finding jobs that are commensurate with their experience and qualifications.

The survey, commissioned by migrant and refugee settlement agency AMES Australia, found that 67 per cent of respondents said their lives in Australia were either ‘good’ or ‘very good’. Another 16 per cent said their lives were ‘fair’.

Ninety-seven per cent of respondents said they felt ‘very safe’ or ‘safe’ in Australia and 75 per cent said they were optimistic about the future.

Asked how their children were faring, 62 per cent said ‘very well’ and 35 per cent said ‘fairly well’.

Eighty-six per cent of respondents said they felt ‘very welcome’ in Australia and another ten per cent said they felt ‘somewhat welcome’ with 86 per cent saying they found it easy to talk to their neighbours.

Seventy-eight per cent of respondents said they had become citizens over the past decade with many others intending to become citizens.

Asked about employment outcomes, 91 per cent of those looking for work had found a job but 25 per cent said it was not commensurate with their skills and experience. Thirty-two per cent of respondents said their jobs were commensurate with their skills and anther 43 per cent were ‘mostly’ commensurate.

Ninety per cent of survey respondents said they had a ‘strong’ sense of belonging in Australia and 79 per cent had achieved a high ‘level’ of English.

Safety and security, employment and educational opportunities and healthcare were cited as the best things about living in Australia while cost-of-living, being apart from family and isolation were cited as the worst.

Asked about their biggest challenges or barriers to settling in Australia, 30 per cent cited ‘finding fulfilling work’, 28 per cent said ‘housing’ and 25 per cent cited ‘cost-of-living’.

Asked about their ‘goals for the future’, the most common responses were ‘family reunion (35 per cent), ‘finding a better job’ (30 per cent), ‘starting a business’ (21 per cent) and ‘owning a home (14 per cent).

Just eleven per cent of respondents said they had a victim of racism or discrimination.

Asked whether they were optimistic about the future of their homelands, only 16 per cent answered ‘yes’, 36 per cent were unsure and 48 per cent were not optimistic. Just 12 per cent said they would consider returning to live in their homeland.

AMES Australia CEO Melinda Collinson said the survey showed the strength and capacity of Australia’s humanitarian settlement system as well as the resilience and of the Syrian and Iraqi communities in Australia.

“The positive outcomes described in the survey are no accident. They are result of a sophisticated, flexible and well-resourced settlement program and also the work of these communities to support each other,” Ms Collinson said.

“The program allows the needs, barriers and aspirations of individual refugees to be addressed. This means we can work with refugees to build on the strengths and resilience they bring with them to support them to achieve their goals.

“This benefits individuals and families, as well as Australia’s economy and society generally,” she said.

Iraqi doctor Asseel Yako, who fled his home when the militant group ISIS attacked and has since resumed his medical career in Australia says he bulk bills all of his patients as a way of giving back.

“I see this as a small way of giving back to the community and to Australian society for giving my family refuge after we were forced to flee Iraq,” he said.

Syrian refugee Norma Medawar, who arrived in Australia a decade ago fleeing the civil war in her homeland, said she now felt Australia was her home.

“We have a great life in Australia now. We are safe, we have jobs and homes and our children can have bright futures,” said Norma, who recently became a citizen.

“While Syria will always be in my heart, Australia is now my home,” she said.

The survey noted that among the key characteristics of the Syrian conflict intake were that most were Christians.

In terms of education, 47 per cent of Iraqi refugee adults and 42 per cent of Syrians had prior tertiary education qualifications.