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  • High-power laser powder bed fusion of pure copper for simultaneous achievement of high density and electrical conductivity

  • Nordet, G. et al. Influence of laser wavelength on the powder bed fusion of pure copper. Prog. Addit. Manuf. 10, 1489–1509 (2025).

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  • Is China allowing the RMB to rise?

    Is China allowing the RMB to rise?

    Generally speaking, tracking China’s exchange rate is about as exciting as watching paint dry because nothing ever happens. The RMB has been materially undervalued for many years now. The resulting trade surplus, which is growing ever bigger, means China is having to intervene massively in foreign exchange markets to stop the RMB from rising against the Dollar. It’s impossible to see that intervention because China stopped using its central bank to do this intervention, most likely shifting it to state banks where it’s difficult to monitor. The end-result is that the RMB remains heavily manipulated and not much ever happens.

    But every once in a while, markets get excited because they think something big is happening. That’s the case now. The chart above shows the bilateral RMB exchange rate versus the Dollar. The official anchor for this exchange rate is the “fix,” which is the black line. The fix gets announced every morning in Beijing and the actual $/CNY exchange rate (blue line) then fluctuates within a two percent band around the fix (gray shaded area). For a long time after the pandemic, $/CNY was plastered against the upper end of the band, the “weak” end of the band. This is typically taken to mean there’s depreciation pressure on the RMB (I think that’s nonsense given how much hidden intervention is happening, but let’s not get into that here). But recently, the $/CNY has fallen below the fix and is approaching the lower end of the band, which has people buzzing Beijing could be shifting its stance on the RMB and might – finally – allow appreciation to reduce chronic undervaluation.

    That isn’t what’s happening. As the chart above shows, the Dollar has been falling against the rest of the G10 recently (black line). The drop in $/CNY is just offsetting that Dollar weakness, so that the trade-weighted RMB stays more or less stable (blue line). So the recent appreciation of the RMB against the Dollar doesn’t signal a change of heart in Beijing. There is no “true” appreciation going on.

    Underlying all this is the question whether China can ever be expected to abandon its mercantilist growth model. I have a short- and a medium-term answer to this. In the short term, it’s fair to say that China emerged victorious from the rare earths stand-off a few months ago. That shouldn’t have been allowed to happen in my opinion, but the US played its hand very poorly in those negotiations. In the medium term, China is gunning to be the world’s leading exporter of all things electrification. There’s just no sign it’s abandoning its mercantilist ways.

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  • China unveils national venture capital guidance fund to boost innovation

    BEIJING, Dec. 26 — China on Friday launched the national venture capital guidance fund, as part of efforts to mobilize more patient capital for innovative and future industries.

    The fund was jointly initiated by the National Development and Reform Commission (NDRC) and the Ministry of Finance (MOF), with three regional funds set up in the Beijing-Tianjin-Hebei region, the Yangtze River Delta region and the Guangdong-Hong Kong-Macao Greater Bay Area.

    The fund is designed to leverage central government capital to attract broad participation from local governments, central state-owned enterprises, financial institutions and private investors, increase support for strategic emerging and future industries, and accelerate the cultivation of new quality productive forces, Bai Jingyu, an NDRC official, told a press conference on Friday.

    Analysts see the move as a targeted policy tool to align financial capital with China’s long-term development strategy. According to recommendations for formulating China’s 15th Five-Year Plan (2026-2030) for national economic and social development, the country aims to develop venture capital investment and establish mechanisms to increase funding and share risks in future industries.

    “The growth of innovation-driven enterprises is a long-distance marathon that requires patient capital,” Bai said. To this end, the guidance fund has a 20-year lifespan, with extended investment and exit periods designed to provide long-term funding support and greater development space for innovative firms.

    Investment decisions will follow the principle of “investing early, investing small, investing long-term and investing in hard technology,” the NDRC official explained, adding that at least 70 percent of the fund’s capital will be directed to seed-stage and early-stage enterprises.

    At the launch ceremony, the three regional funds have already reached preliminary investment agreements covering integrated circuits, quantum technology, biomedicine, brain-computer interfaces, aerospace, artificial intelligence, future energy and other strategic sectors.

    Guo Fangming, an MOF official, said the fund will act as a risk-sharing mechanism, effectively serving as an “angel investor” by absorbing early-stage risks and encouraging broader social participation in innovation financing.

    While guided by policy objectives, the fund will operate on market principles, with the government setting policy direction and professional institutions managing fundraising, investment and exits through competitive selection, without mandatory geographic reinvestment requirements, Bai noted.

    Structurally, the guidance fund adopts a three-tier framework comprising a fund company, regional funds and sub-funds, a design intended to amplify the leveraging effect of central government capital, Bai noted.

    Beyond capital injection, the fund seeks to strengthen the venture capital ecosystem by anchoring long-term social capital in technology innovation and coordinating with other government guidance funds to support high-level technological self-reliance and new quality productive forces, Guo said.

    To address the higher risks associated with early-stage projects, the fund will adopt a management approach combining online monitoring with on-the-ground oversight, enabling integrated and transparent compliance supervision and earlier identification, warning and mitigation of potential risks, Bai said.

    Looking ahead, the guidance fund is expected to facilitate the establishment of more than 600 sub-funds across the three regions, supporting the development of strategic emerging and future industries, officials added.

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  • Turkey says Russia gave it $9 billion in new financing for nuclear plant

    ISTANBUL: Turkey’s energy minister said Russia had provided new financing worth $9 billion for the Akkuyu nuclear power plant being built by Moscow’s state nuclear energy company Rosatom, adding Ankara expected the power plant to be operational in 2026.

    Rosatom is building Turkey’s first nuclear power station at Akkuyu in the Mediterranean province of Mersin per a 2010 accord worth $20 billion. The plant was expected to be operational this year, but has been delayed.

    “This (financing) will most likely be used in 2026-2027. There will be at least $4-5 billion from there for 2026 in terms of foreign financing,” Bayraktar told some local reporters at a briefing in Istanbul, according to a readout from his ministry.

    He said Turkey was in talks with South Korea, China, Russia, and the United States on nuclear projects in the Sinop province and Thrace region, and added Ankara wanted to receive “the most competitive offer”.

    Bayraktar said Turkey wanted to generate nuclear power at home and aimed to provide clear figures on targets.

    He added that Turkey was in talks with Saudi Arabia’s ACWA Power company on a 5,000-megawatt solar package.

    “We will have completed the agreement for this in the first quarter of 2026, for 2,000 megawatts in the first phase. We are talking about a 2,000-megawatt solar energy project; 1,000 megawatts in Sivas, a thousand in Taseli,” he said.

    “We are discussing a project on solar and storage with yet another firm from the Gulf again. The approximate investment cost of that is between $1.5-2 billion,” Bayraktar added, without giving details.


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  • Chinese shares close higher Friday-Xinhua

    BEIJING, Dec. 26 (Xinhua) — Chinese stocks closed higher on Friday, with the benchmark Shanghai Composite Index up 0.1 percent to 3,963.68 points.

    The Shenzhen Component Index closed 0.54 percent higher at 13,603.89 points.

    The combined turnover of these two indices totaled 2.16 trillion yuan (about 307 billion U.S. dollars), up from 1.92 trillion yuan the previous trading day.

    Stocks related to commercial spaceflight, lithium battery and the Hainan Free Trade Port led the gains, while the papermaking and computing hardware sectors were among the major losers.

    The ChiNext Index, tracking China’s Nasdaq-style board of growth enterprises, gained 0.14 percent to close at 3,243.88 points. ■

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  • Samsung To Unveil AI Vision Built With Google Gemini at CES 2026 – Samsung Newsroom Malaysia

    Samsung To Unveil AI Vision Built With Google Gemini at CES 2026 – Samsung Newsroom Malaysia

    With the upgraded AI Vision, Samsung becomes more fluent in food recognition and expands the reach of kitchen experiences

    Company will also showcase a new Bespoke AI Wine Cellar and newly designed cooking appliances

     

    Samsung Electronics Co., Ltd. announced that it will unveil its latest kitchen appliances lineup at CES 2026, including the latest iterations of its Bespoke AI refrigerator, over-the-range (OTR) microwave, and slide-in range[1][2] at CES 2026. Alongside refreshed designs across the lineup, the company will highlight meaningful improvements to vision-based AI functionality enhanced with Google Gemini and Google Cloud, showing how these innovations simplify everyday tasks and elevate the overall kitchen experience.

     

    “In pioneering the application of vision-based AI technology, Samsung has led innovation in the kitchen appliance market,” said Jeong Seung Moon, Executive Vice President and Head of R&D Team for Digital Appliances (DA) Business at Samsung Electronics. “Samsung will reach a new level of innovation through this collaboration with Google Cloud and will utilize these ongoing initiatives to continue to deliver better consumer experiences in the upcoming year.”

     

     

    Introducing Samsung’s Latest AI Vision-Equipped Refrigerator

    At CES, Samsung will present a new Bespoke AI Refrigerator Family Hub[3], equipped with the upgraded AI Vision. The feature’s key upgrade is its functions built with Google Gemini, which marks the first time that it is being integrated into a refrigerator.

     

    Previously, it could recognize up to 37 types of fresh food and 50 types of pre-registered processed food on-device.[4] The latest version ready to be unveiled at CES is built to unlock its existing limitations to recognize more food items, offering a comprehensive and flexible experience.

     

    It is planned to even recognize processed foods without separate registration, automatically registering their names to increase convenience. Additionally, Samsung aims to make it detect user-labeled items, foods stored in personal containers can be added to the food list.

     

    With ingredients being identified more accurately, managing the food list becomes clearer and easier than before, broadening people’s food-related experiences. At CES, Samsung plans to showcase the enhanced capabilities and new use cases of AI Vision, demonstrating the future of a truly personalized AI kitchen.

     

     

    Enhanced Wine Management With the New Samsung Bespoke AI Wine Cellar

    Samsung will exhibit the new Bespoke AI Wine Cellar[5], designed to incorporate an AI Vision built with Google Gemini similar to that of the Bespoke AI Refrigerator.[6]

     

    When users store or remove wine bottles from the wine cellar, a camera positioned at the top of the unit will recognize the labels and tracks bottles, updating the SmartThings AI Wine Manager[7] accordingly. The system will also be able to distinguish the specific shelf and compartment where each bottle is placed, allowing users to easily check locations without searching manually. Through the AI Wine Manager, users will be able to look up wine information more conveniently and receive suggestions on pairings based on the type of wine in their inventory, making wine curation more intuitive and personalized.

     

     

    Unified Kitchen Aesthetic With an Upgraded Stainless Look

    Samsung is also introducing a lineup of French Door refrigerators[8], slide-in ranges and new OTR microwave models[9], offering consumers an updated aesthetic and a cohesive stainless-look option for creating a unified kitchen design.

     

    The new Bespoke AI 3-Door French Door refrigerator[10] features a zero clearance fit, which can be installed with side gaps of approximately 4mm.[11] Additionally, its door depth has been reduced by 50mm compared to the conventional 3-Door model,[12] enabling full access to drawers and food items with the doors wide open.[13] The AutoView — a transparent door — allows users to easily check items stored in the fridge.

     

    The upgraded slide-in range features a completely refreshed design with a stainless-look finish across the control panel, knobs and door. It adopts a new bar handle style, along with a Precision Knob that provides enhanced safety.

     

    Samsung will unveil two different types of OTR microwaves: the Air-Fry OTR and the DualVent OTR. The most significant change comes from the revised hood structure of the DualVent model. Typically, the depth of a cooktop on the range extends farther than that of an OTR, making it difficult for the hood to capture smoke from the front burners. Samsung’s new dual vent system addresses this by adding a front ventilation wing in addition to the bottom ventilation, significantly improving the capture rate compared to the previous model.

     

    Visitors at Samsung’s booth at CES 2026 will be the first to see these new innovations. Learn more about Samsung’s CES activities here.

     

     

     

    [1] This article contains products and features currently in development. The plans, timelines, and specifications described are forward-looking and subject to change without notice. Their future availability is not guaranteed.
    [2] Product availability may vary depending on country
    [3] Product availability may vary depending on country
    [4] As of April 2025, AI Vision can recognize 37 food items like fresh fruits and vegetables. If the food is not recognizable, it may be listed as an unknown item. AI Vision cannot identify or list any food items in the fridge door bins or freezer. It recognizes food items based on deep learning models, which may be updated periodically to improve accuracy. AI Vision also recognizes packaged food items that have been saved by the user, and up to 50 items can be saved with designated names. Packaged items are limited to those that keep a certain packaged form.
    [5] Product availability may vary depending on country
    [6] The recognition functionality is only available for shelves with withdrawal capability. For wine input and output, the label must be exposed to the top camera for proper recognition. Additionally, the multi-pantry drawer provides food storage functionality, and information about the food items stored in these drawers is provided as a separate image.
    [7] Available on Android and iOS devices. A Wi-Fi connection and a Samsung account are required. Both devices must be signed in with the same Samsung account.
    [8] Product availability may vary depending on country
    [9] Product availability may vary depending on country
    [10] Product availability may vary depending on country
    [11] Minimum required installation space for a custom built-in setup: [Width] 916 mm or more (Ensure a minimum gap of 4 mm on the left/right sides), [Height] 1798 mm or more (Ensure a minimum gap of 20 mm at the top).
    [12] Compared to our conventional model without zero clearance fit feature (RF32CG5400**)
    [13] The refrigerator door can be open up to 108°, but it depends on the installation environment.

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  • Lease a BYD Sealion 7 From £270 Per Month

    Lease a BYD Sealion 7 From £270 Per Month

    Find out why you should lease this Chinese SUV with loads of interior space, which could be yours to lease from £270 per month. 

    My pick for today’s deal of the day is an electric SUV that not only offers plenty of interior space and great on-board tech, but also delivers smooth, powerful performance. I’m talking about the BYD Sealion 7, which could be yours to lease from £270 per month through Carwow.

    Did you know you can lease a brand new or used car right here on Carwow? We’re here to help you through every step of your car-changing journey.

    Lease a BYD Sealion 7 from £270 per month*

    You can lease a BYD Sealion 7 in ‘Comfort’ spec from £272.29 per month (initial payment: £3,562.48) on a 24-month, 5,000-mile-per-year deal through Carwow. This is a great deal because it comes with a 308hp single motor and a range of up to 300 miles. It also comes with the following features:

    • 15.6-inch infotainment screen
    • All-round LED lights
    • Heated and ventilated seats
    • 12-speaker Dynaudio sound system

    Why consider the BYD Sealion 7?

    The Sealion 7 has a boot capacity of 520 litres.

    I’d recommend the BYD Sealion 7 because it’s a roomy electric SUV that punches above its price. Sporty looks, C-shaped LED headlights, and a sleek roofline make it more distinctive than the bland Seal U, and on paper it competes well with the Tesla Model Y, Kia EV6, and Peugeot E-3008. It’s not as flashy as the BYD Seal, but it still manages to turn heads.

    Inside, it’s surprisingly comfortable and practical. The cabin feels premium, with flowing lines and a huge 15.6-inch rotating infotainment screen. The front seats are big and cozy, rear passengers get plenty of space, and storage is generous, with a 520-litre boot, underfloor compartment, and even a frunk. Perfect for families or anyone who likes to carry a lot of gear.

    It’s also smooth and powerful on the road, though range may fall short of the claimed figures. The suspension can feel bouncy and steering a bit twitchy, but if you value tech, passenger space, and a stylish EV at a reasonable price, the Sealion 7 is a strong, practical choice.

    Alternatives to the BYD Sealion 7

    Prefer something else? Here are three other electric options:

    • Tesla Model Y: Very roomy for passengers and luggage but feels very big on the road.
    • Polestar 4: Classy, quality interior but too many functions require the touchscreen.
    • Cupra Tavascan: Spacious and practical but top-spec models are very expensive.

    Car change? Carwow!

    Looking for a new set of wheels? With Carwow you can sell your car quickly and for a fair price – as well as find great offers on your next one. Whether you’re looking to buy a car brand new, are after something used or you want to explore car leasing options, Carwow is your one stop shop for new car deals.

    Click here to follow us on WhatsApp, where you can keep up-to-date with all the latest news, reviews, advice guides and videos.

    *Savings are made up of the maximum dealer discount off RRP – subject to dealership, location and trim. Prices correct at the time of writing.

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  • Mildmay line to partially close over festive period

    Mildmay line to partially close over festive period

    BBC/Harry Low Orange Overground roundel at Gospel Oak Overground station as a yellow-fronted train arrives on the platformBBC/Harry Low

    London Overground trains will not call at stations such as Gospel Oak

    London Overground passengers can expect disruption to journeys over the festive period due to track replacement work.

    From 27 December until 4 January, Mildmay line trains will not run between Camden Road and Richmond/Shepherd’s Bush but a special train service will run between Willesden Junction and Stratford via Queen’s Park.

    On Boxing Day there is a shuttle service only between Shepherd’s Bush and Clapham Junction.

    Simon Milburn, from Network Rail Anglia, apologised for the disruption, adding: “But this is a big job that will make a real positive impact for passengers in the long-term.”

    Network Rail Composite image showing points to be replaced on train tracks stretching out between greeneryNetwork Rail

    These points will be replaced with the timber sleepers replaced by concrete ones

    Engineers will be replacing 10 sets of points, which are the movable sections of track that allow trains to switch from one line to another.

    The points are currently in poor condition and are held in place by deteriorating timber sleepers, Network Rail says.

    There will be further disruption on the weekends of 10-11 January, 31 January to 1 February and 14-15 February to complete the installation after the new track has settled.

    Railway replacement buses will run throughout the engineering work.

    Mr Milburn added: “The busy Mildmay line is shared with regular heavy freight trains, which means there’s more stress and strain on the track than on other parts of the network.

    “We are installing new track that is built to last for decades to come.”

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  • Mildmay line to partially close over festive period

    Mildmay line to partially close over festive period

    London Overground passengers can expect disruption to journeys over the festive period due to track replacement work.

    From 27 December until 4 January, Mildmay line trains will not run between Camden Road and Richmond/Shepherd’s Bush but a special train service will run between Willesden Junction and Stratford via Queen’s Park.

    On Boxing Day there is a shuttle service only between Shepherd’s Bush and Clapham Junction.

    Simon Milburn, from Network Rail Anglia, apologised for the disruption, adding: “But this is a big job that will make a real positive impact for passengers in the long-term.”

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  • Samsung To Operate a Standalone Exhibition Hall at CES 2026 That Delivers an AI Ecosystem Experience – Samsung Global Newsroom

    Samsung To Operate a Standalone Exhibition Hall at CES 2026 That Delivers an AI Ecosystem Experience – Samsung Global Newsroom

    Samsung Electronics today announced that it will boldly break away from the conventional exhibition framework and present a new exhibition paradigm with The First Look at CES 2026, the world’s largest consumer electronics show, to be held in Las Vegas, Nevada on Jan. 6–9.

    For The First Look, the company is shifting from operating a public booth within the Las Vegas Convention Center (LVCC) to establishing a standalone exhibition hall at The Wynn Las Vegas. There, Samsung will curate an experience that adopts techniques used in art galleries and museums to unveil its new products and technologies.

    To this end, the company has built its exhibition space, the Samsung Exhibition Zone, on an industry-leading scale, enabling all activities — product exhibitions, presentations, events, technology forums and consultations with key clients and partners — to be conducted organically in a single integrated location. The Exhibition Zone reflects Samsung’s strong commitment to transforming the exhibition paradigm beyond a simple change of venue, toward an approach centered around the customer experience.

    Beyond Simple Lineups: Experiencing the Essence of AI in a Well-Curated Space

    At CES 2026, Samsung will present its unified AI approach for its Device eXperience (DX) Division and articulate the company’s overall business direction. It is because of this ambitious vision that the company has chosen to establish an industry-leading, large-scale premium standalone exhibition space at The Wynn. There, Samsung will have no limitations when showcasing its industry-leading innovations and will be able to fully convey its overall AI strategy and vision — and the real-life value it can bring to consumers.

    The First Look event has been designed to demonstrate how Samsung’s technology transforms lives, moving beyond only showcasing new product features. To realize a fully immersive environment, the exhibition will provide minimized congestion and enhanced programming for a deeper, more meaningful visitor experience.

    A Grand Showcase of Samsung AI at the Industry’s Largest Space

    Through carefully curated storytelling, Samsung’s Exhibition Zone has been designed to allow visitors to intuitively engage with Samsung’s AI innovation, current key technologies and future direction. Under the theme of “Your Companion to AI Living,” the exhibition showcases how Samsung has extensively applied AI technologies not only across all its product categories — including mobile, home appliances and displays — but also the functions and services that connect them. Visitors will be able to experience these differentiated AI capabilities, which offer seamless, always-on connectivity anytime and anywhere. This hyper-connected ecosystem, where software and AI work together to overcome the normal limits of hardware, is something that only Samsung can deliver.

    New Tech Forums Spotlight Recent Industry Trends and Technologies

    At CES 2026, Samsung will also host a series of Tech Forum panel discussions dedicated to exploring the latest industry trends and future technologies. The panels will be held over two days on Jan. 5–6 (local time), and will consist of four sessions centered on AI, home appliances, services and design.

    Each session will feature both Samsung experts and participants from partner companies, academia, media and the analyst community, who will engage in in-depth discussions on industry trends — as well as new technologies and the future of the industry.

    To learn more about The First Look, visit Samsung Newsroom’s CES 2026 landing page.

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