By Jarryd Daymond, University of Sydney Imagine a world where computers can solve complex problems in seconds, making our current devices seem like mere typewriters. These supercomputers would revolutionise industries, create new medicines, and even help combat climate change. Imagine as well we could observe the workings of our own bodies in unprecedented detail, and…
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Explosives and mining technology group Orica is riding a wave of high commodity prices boosting customers fortunes to notch up a 32 percent rise in half year underlying operating profit of $323 million. The result, which yielded a net profit after tax of $123 million in the half year ended 31 March, came after a…
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Australia’s trade minister Don Farrell predicts that China could lift its punitive trade restrictions on $20 billion worth of Australian exports by the end of the year, according to reports in Channel 9 newspapers. On the eve of his departure to China for the first meeting of trade ministers since 2019, Farrell told the newspapers…
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The Federal Government’s $15 billion National Reconstruction Fund (NRF) should be designed to reduce hurdles and ease access for Australia’s predominantly small and medium sized manufacturing enterprises, according to the Geelong Manufacturing Council. In a submission to the Government’s NRF, GMC called for the establishment of a decentralised team of business advisers to support SMEs…
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Building products group CSR has delivered strong profit and revenue growth in the financial year to 31 March. The company announced net profit after tax of $225 million, up 17 percent on the previous corresponding period, on trading revenue up 13 percent to $2.6 billion. The company’s building products segment earnings before interest and tax…
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The Australian Renewable Energy Agency (ARENA) has welcomed new funding in the budget to deliver the Industrial Transformation Stream of the government’s Powering the Regions Fund. As part of the $1.9 billion Powering the Regions Fund package, the government announced the $400 million Industrial Transformation Stream to support industrial facilities across Australia to reduce their…
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Companies, industry groups and experts comment on last night’s Budget 2023 – this is what they said. Green technology developer Fortescue Future Industries welcomed the budget’s Hydrogen Headstart announcement which ‘demonstrates how seriously the government is taking the green hydrogen industry’ and its critical role in Australia’s future. FFI said in a statement: “This is…
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The SmartSat Cooperative Research Centre (CRC) has unveiled a Compact Hybrid Optical-RF User Segment (CHORUS) prototype terminal to provide more stable and secured military satellite communications. Funded by SmartSat CRC, the terminal which was developed over three years of research was revealed at the 15th Australian Space Forum underway in Adelaide. Technology embedded in the…
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On the opening day of Australian Manufacturing Week, @AuManufacturing and the Advanced Manufacturing Growth Centre held a special event: Lessons from Australia’s most innovative manufacturers. Below is the introduction speech from the event, covering some of what we’ve learned so far from @AuManufacturing’s ongoing search to identify and celebrate Australia’s 50 most innovative manufacturers. By…
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Budget 2023 provided $392 million for an Industry Growth Program to maximise the return on taxpayers’ investments and provide a clearer pathway for entrepreneurs to develop businesses for later consideration by the government’s $15 billion National Reconstruction Fund. By Roy Green. The new Industry Growth Program is a modest but well considered recognition of the…
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