Category: 3. Business

The U.S. dollar slipped on Friday but held within recent ranges against major currencies as traders awaited next week’s Federal Reserve meeting, where policymakers are widely expected to cut interest rates.

The dollar index, which measures the currency against six peers, was down 0.1% at 98.994, not far from Thursday’s five-week low of 98.765. For the week, the index was down 0.5%.

The euro was about flat at $1.16433, not far from Thursday’s three-week high of $1.1681.

Traders are pricing a nearly 90% chance of a Fed rate cut next week, and potentially two more reductions next year, LSEG data showed.

“This week, some soft labor market data releases from alternative sources helped crystallize what still appears to be an overdone 90% probability of a cut next week,” Antonio Ruggiero, FX & macro strategist at Convera, said.

Morgan Stanley said on Friday it now expects the Fed to deliver a quarter-percentage point rate cut in December, joining peers JPMorgan and BofA Global Research, following dovish remarks from central bank policymakers.
All three brokerages previously expected the Fed to hold rates steady in December. “The dollar also continues to look overvalued relative to major peers, with the softer tone therefore fully justified,” Ruggiero said.

Data on Friday that showed U.S. consumer sentiment improved in early December did little to boost the dollar.

Separately, the Personal Consumption Expenditures (PCE) Price Index increased 0.3% in September after gaining 0.3% in August, the BEA said. Excluding the volatile food and energy components, the PCE Price Index gained 0.2% after climbing 0.2% in August, the report delayed by the recent government shutdown showed.

Investors are also weighing the prospect of White House economic adviser Kevin Hassett taking over as Fed chair after Jerome Powell’s term ends in May. Hassett is expected to push for more rate cuts.

The dollar “remains slightly offered on the view that the Fed will cut rates next week and that the arrival of Kevin Hassett as Fed Chair will somehow make the Fed more dovish,” said Chris Turner, global head of markets at ING.

YEN FIRMS

The yen, which has been supported in recent sessions by expectations that the Bank of Japan could raise rates this month, edged up on Friday, rising 0.1% to 155.295 to the dollar.

BOJ officials are ready to raise rates on December 19 in the absence of any major economic shocks, Bloomberg reported on Friday, a day after Reuters reported three sources as saying a hike this month was likely.

“As the funding currency of choice in the carry trade, some unwinding in light of higher JPY rates is poised to boost the yen,” Convera’s Ruggiero said.

Sterling was about flat on the day at $1.3329, not far from the previous session’s six-week peak of $1.3385.

Next week sees a parade of central bank policy decisions, with the Reserve Bank of Australia’s coming on Tuesday, the Bank of Canada’s on Wednesday and the Swiss National Bank’s on Thursday in addition to the Fed’s statement on Wednesday.

That continues the following week with the BOJ, European Central Bank, Bank of England, and Sweden’s Riksbank.

Leading cryptocurrency bitcoin fell for the second straight day, slipping 3% to $89,701.

ISLAMABAD:

State-run Oil & Gas Development Company (OGDC) is planning a major expansion of unconventional gas developments from early next year, aiming to boost production and reduce reliance on imported liquefied natural gas (LNG).

Pakistan has long been viewed as having potential in both tight and shale gas, which are trapped in rock and can only be released with specialised drilling, but commercial output has yet to be proved. Managing Director Ahmed Lak told Reuters that OGDC had tripled its tight-gas study area to 4,500 square kilometres after new seismic and reservoir analysis indicated larger potential. Phase two of a technical evaluation will finish by end-January, followed by full development plans.

The renewed push comes after US President Donald Trump said that Pakistan held “massive” oil reserves, a statement analysts said lacked credible geological evidence.

“We started with 85 wells, but the footprint has expanded massively,” Lak said, adding that OGDC’s next five-year plan would look “drastically different”.

Early results point to a “significant” resource across parts of Sindh and Balochistan, where multiple reservoirs show tight-gas characteristics, he said.

OGDC is also fast-tracking its shale programme, shifting from a single test well to a five- to six-well plan in 2026-27, with expected flows of 3-4 million standard cubic feet per day (mmcfd) per well. If successful, the development could scale to hundreds or even more than 1,000 wells, Lak said.

He said shale alone could eventually add 600 mmcfd to 1 billion standard cubic feet per day of incremental supply, though partners would be needed if the pilot proves viable. The company is open to partners “on a reciprocal basis”, potentially exchanging acreage abroad for participation in Pakistan, he said.

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The Dongguan Institute of Materials Science and Technology, Chinese Academy of Sciences (abbreviated as DIMST, CAS) was jointly established on January 20, 2025 by the Chinese Academy of Sciences, the People’s Government of Guangdong Province, and the People’s Government of Dongguan. It is located in the Pilot Start-up Area of the Comprehensive National Science Center in the Guangdong–Hong Kong–Macao Greater Bay Area (Songshan Lake Science City), with a first-phase campus area of 263 mu. On September 28, 2025, DIMST received approval from the Central Institutional Organization Commission to be established as a central public institution. On December 6, 2025, DIMST was officially inaugurated, marking a new stage of high-quality development.

Led by Academician Wang Weihua, DIMST is structured around three major domains: frontier science in new materials, major industrial demands, and research paradigm transformation. With the mission of addressing fundamental scientific frontier issues and key applied challenges in the field of new materials, and of fostering the development of new quality productive forces, the Institute aims to promote the establishment of new research paradigms in materials science and technology and to drive future innovation in new materials technologies. Leveraging the advantages of major national scientific and technological infrastructures, the Institute focuses on fundamental and generic technologies and applied research related to strategically important core materials urgently needed by the nation, facilitating full integration of innovation and industrial chains. At the same time, it strives to attract top-tier talent and high-level research platforms in the materials field, deliver breakthroughs in key core technologies, and become a leading research institution in China’s new materials sector—serving as a source of original innovation, a hub for industrial technology diffusion, and a national center for cultivating innovative talent.

DIMST will earnestly implement General Secretary Xi Jinping’s requirements for the Chinese Academy of Sciences—namely the “Four Firsts” and the “Two Accelerations and One Effort.” The Institute will accelerate efforts to secure strategic high ground in materials science, tackle bottleneck problems in key materials, deepen the integration of scientific and technological innovation with industrial innovation, support industrial upgrading in the Greater Bay Area, and explore new AI-driven research paradigms. It is committed to contributing to China’s high-level scientific and technological self-reliance and the building of a strong scientific and technological nation.

In accordance with the needs of the ten major research divisions and two supporting sections of DIMST, DIMST is now globally recruiting leaders for twelve research divisions. The divisions are introduced as follows:

Division of Frontier and Interdisciplinary Sciences

Focusing on the long-term scientific and technological development needs of the nation, this division primarily utilizes major national research facilities such as the China Spallation Neutron Source, synchrotron radiation light sources, and attosecond laser platforms to conduct fundamental and applied basic research. Its mission is to address interdisciplinary scientific problems that are difficult to resolve by other means, in areas such as quantum materials, structural materials, energy materials, and advanced particle detection materials.

Division of Microscopic Science and Technology in the Greater Bay Area

This division aims to investigate structural and compositional information at the atomic scale. It is dedicated to high-level research on new theories and technologies in electron microscopy and diffraction physics, with a particular focus on quantitative electron microscopy and its applications in solid-state physics and materials science. The division also seeks to advance the development and application of electron microscopy in fields such as nanotechnology, materials science, and physics, thereby promoting technological innovation and interdisciplinary integration.

Division of Electronic Information Materials and Devices

Aiming to meet the major national needs of the next-generation electronic information industry, this division focuses on typical application scenarios in the era of big data, such as high-density information sensing, communication, computation, and storage. In response to the critical material demands of next-generation post-Moore information devices and chips, the division concentrates on interdisciplinary research involving emerging electronic information materials and devices based on electrical, magnetic, and optical principles. Research directions include spin quantum materials and devices, two-dimensional semiconductor and optoelectronic materials and devices, silicon-based optoelectronic heterogeneous integration technologies, oxide semiconductor materials, topological quantum materials, and single-crystal copper functional thin films.

Division of Amorphous Materials

This division is dedicated to developing amorphous alloys and high-entropy amorphous materials with high glass-forming ability, thermal stability, and long-term service reliability. It conducts research on nonequilibrium condensed matter physics and new theoretical frameworks for emerging materials, promotes the integrated development of structural and functional properties in amorphous materials, and explores industrial applications in next-generation power electronics, communication equipment, and related fields.

Division of New Energy Materials

This division conducts research on key materials for transportation electrification, renewable energy storage, and clean energy applications. Focusing on critical technologies such as solid-state lithium batteries, green hydrogen energy, and photocatalytic conversion, it aims to advance the realization of carbon peaking and carbon neutrality goals and to strengthen the nation’s strategic scientific and technological capabilities.

Division of Biomedical Materials

This division focuses on the research and development of key materials in the biomedical field, such as nanomedicines and tissue engineering materials. It aims to address critical scientific challenges and technological bottlenecks in areas including intelligent responsive drug delivery systems, novel diagnostic and therapeutic platforms, tissue engineering scaffolds, and smart extracellular matrix materials. The division is committed to advancing key technologies and methodologies for precision medicine and providing strong support for the high-quality development of the national biomedical materials industry.

Division of Advanced Scientific Instruments and Equipment

Targeting the material science community’s needs for specialized research instruments, this division develops high-sensitivity, high-resolution, high–signal-to-noise–ratio, and wide dynamic range radiation position detectors, image sensors, and dosimeters for neutrons, X-rays, gamma rays, and ultraviolet–visible–near-infrared light. It also conducts research on quantum sensing and imaging technologies, as well as on the imaging methodologies, key materials, and critical components for optoelectronic and quantum devices.

Division of Intelligent Materials Informatics

This division aims to develop a new paradigm that integrates artificial intelligence with materials science, establishing an innovative “AI + Materials” research framework. It focuses on advancing intelligent R&D technologies for materials science and building a world-class materials science database that is internationally leading and protected by independent intellectual property rights. Based on high-quality databases, the division develops large-scale materials science models and, utilizing advanced AI technologies and data platforms, constructs recommendation systems for both forward and inverse design of high-performance materials tailored to application needs. Furthermore, it builds intelligent engines for parsing multi-source heterogeneous literature and develops automated infrastructures for experimentation and materials fabrication, thereby enabling automated iteration and development of new materials.

Materials Data Center

The Materials Data Center focuses on the cutting-edge intersection of materials science and artificial intelligence. With sustained research efforts in the areas of amorphous materials and physics, as well as AI-assisted new materials design, the center is committed to integrating computational simulation, data science, and deep learning technologies to deeply explore structure–property relationships in materials. Its goal is to drive the precise design and development of new materials and to establish unified standards and an integrated data-sharing platform for materials in the Greater Bay Area.

Division of Functional Ceramic Materials

As an important scientific research platform, the division will focus on well-defined objectives—the research, development, and preparation of advanced ceramic materials; extreme-performance testing and characterization; and comprehensive corrosion validation. Guided by domestic demand for advanced ceramics and supported by the major research facilities of DIMST, the division aims to align closely with the innovation needs of industrial development. It is expected to establish a national-level R&D center for advanced ceramic materials and a world-class open and shared platform for testing and verification.

Laboratory for Materials Preparation and Characterization

The Materials Preparation and Characterization Platform has established first-class open-access service units and projects covering materials synthesis, microstructural and compositional characterization, comprehensive optical/electrical/magnetic/mechanical/thermal property measurements, as well as precision machining. Leveraging its advanced equipment and highly skilled technical personnel, the platform is dedicated to providing strong technical support for both academic research and industrial R&D. It offers a wide range of services, including materials preparation, characterization, and comprehensive project-based collaborations, to universities, enterprises, and research institutes. Through joint projects, collaborative research, and problem-oriented partnerships, the platform provides integrated solutions for scientific challenges and new material development. To date, the platform has received over RMB 200 million in equipment investment and has made 85 sets of large-scale instruments available for open access. All instruments are configured under the principle of “uniqueness where others lack, superiority where others possess,” featuring advanced performance, broad applicability, comprehensive functional attachments, and wide operational ranges under extreme testing conditions.

Laboratory for Micro–Nano Fabrication and Device Preparation

Through the introduction and deployment of advanced semiconductor equipment, as well as the recruitment and cultivation of specialized talent teams, this laboratory is building a comprehensive technology service and innovation platform that integrates micro–nano fabrication, device preparation, testing and characterization, R&D, and pilot-scale production. It enables controllable processing and testing of structures and devices for wide semiconductor materials, spanning scales from the micrometer to the nanometer and even the atomic level.

The laboratory establishes core functions for the wide semiconductor field, including public technical services, common technology research, fabrication and prototyping, talent training, equipment validation, and material verification. It provides a full research and development cycle and complete technical support infrastructure for the development and pilot testing of new materials, new processes, and new products in the wide semiconductor industry.

Job Responsibilities

1. 1. 1. 1. The head of a research division is responsible for defining the division’s academic direction and development roadmap, as well as formulating its talent development and scientific research plans; the head of a supporting section is responsible for developing and implementing the platform’s medium- and long-term strategic plans and technical roadmaps.
         2. Undertake relevant scientific research tasks, manage research projects, and ensure the achievement of high-quality research outputs, including publications and patent applications.
         3. Lead the division in collaboration with domestic and international research institutions and enterprises to promote world-class technological innovation, research breakthroughs, and practical applications.
         4. Promote the intelligent development of the team by exploring pathways for integrating artificial intelligence with existing research areas, and by establishing an intelligent research system.

Position Requirements

1. 1. 1. 1. Possess a global strategic vision and an innovative mindset, with the ability to accurately grasp the developmental trends at the forefront of global science and technology, as well as the directions of major national strategic needs.
         2. Be a leading expert in the relevant professional field, having made significant contributions that have greatly advanced academic progress or high-tech innovation and integration, and be recognized by peers both domestically and internationally.
         3. Have served as the principal investigator or equivalent leader in major national-level scientific and technological projects.
         4. As an academic leader, possess notable academic influence, strong organizational and leadership capabilities, and the ability to guide a team in producing major scientific achievements.
         5. Be in good health and fully capable of performing the duties required by the position.

At the same time, DIMST is conducting a long-term global recruitment of high-level talents in the following research areas:

Artificial intelligence–empowered materials, electronic information materials, new energy materials, amorphous materials, polymer materials, biomedical materials, microscopic science, interdisciplinary science, advanced scientific instruments and equipment, functional ceramic materials, and materials characterization technologies.

Recruitment Targets and Requirements

I. Academic Leading Talents

1. 1. 1. 1. Possess a global strategic vision and an innovative mindset, with the ability to accurately grasp the developmental trends at the forefront of global science and technology, as well as the directions of major national strategic needs.
         2. Be a leading expert in the relevant professional field, having made significant contributions that have greatly advanced academic progress or high-tech innovation and integration, and be recognized by peers both domestically and internationally.
         3. Have served as the principal investigator or equivalent leader in major national-level scientific and technological projects.
         4. As an academic leader, possess notable academic influence, strong organizational and leadership capabilities, and the ability to guide a team in producing major scientific achievements.
         5. Be in good health and fully capable of performing the duties required by the position.

II. Outstanding Young Talents

1. 1. 1. 1. In general, candidates should hold a formal teaching or research position in a well-known overseas university, research institute, or corporate R&D organization, with at least three consecutive years of relevant work experience. For those who have obtained a Ph.D. degree overseas and demonstrated exceptionally outstanding achievements, the work experience requirement may be appropriately relaxed.
         2. Possess substantial research experience, innovative academic ideas, and technical methodologies, with the ability to propose new research directions, actively undertake scientific research tasks, and promote high-quality research outputs.
         3. Have achieved research or technological accomplishments recognized by peers in the field and demonstrate strong potential to become an academic leader or outstanding talent in the relevant discipline.
         4. Generally be no more than 35 years of age.

Compensation and Benefits

1. Competitive Salary:

Offer of an internationally competitive remuneration package.

2. Central government-affiliated public institution staff establishment.

3. Comprehensive Team-Building Support:

Team establishment funding will be determined on a case-by-case basis. Successful applicants will receive allocated quotas for postdoctoral fellows and graduate students, as well as ample office and laboratory space.

4. Housing Support:

Eligible candidates will receive either a municipal housing purchase subsidy or the opportunity to obtain a preferential housing unit with full property rights.

5. World-Class Research Platforms:

More than 1 billion RMB has been invested to establish a comprehensive, world-class research infrastructure system covering materials design, preparation, processing, characterization, measurement, and simulation, with over 210 sets of advanced instruments available for open access.

6. Social Security and Additional Benefits:

Five Social Insurances(Endowment Insurance, Medical Insurance, Unemployment Insurance, Employment Injury Insurance and Maternity Insurance), Housing Provident Fund and Enterprise Annuity are provided at the highest standard. Qualified overseas high-level and urgently needed talents are eligible for a 15% preferential individual income tax policy. Assistance is available for obtaining work and residence permits in China, as well as support for children’s education and spousal employment.

Spouses without current employment are eligible for a special monthly allowance for up to three years:

• Academic Leading Talents: RMB 8,000/month
• Outstanding Young Talents: RMB 5,000/month

7. Additional Benefits:

Free access to fitness and recreational facilities (gym, tennis courts, basketball courts, badminton hall, table tennis room, and swimming pool), complimentary yoga classes, a leisure café, annual health check-ups, holiday benefits, and various union-organized activities.

Application Materials and Procedures

1. Curriculum Vitae (CV):

Please include a list of 5–8 representative publications.

2. Letter of Self-Recommendation:

A statement describing your motivation for application and suitability for the position.

3. Summary and Plan:

A summary of your previous research/work experience and a proposal outlining your future research or work plan.

4. References:

The names, contact information, and recommendation letters of two referees in the same or closely related field.

5. Supporting Documents:

• A copy of your passport or national ID;
• Proof of current employment;
• Highest degree certificate(s);
• Professional qualification certificates (if applicable);
• List of academic publications (please specify first and corresponding authorship);
• Copies of awards, patents, and documentation of technology transfer achievements;
• Any other materials you consider relevant to your application.

 

Please compile all the above application materials into a single folder and send it to renshi@dimst.ac.cn.

The email subject line should be formatted as:

“Application for xx Team Leader/High-Level Talent + Name + Research Field.”

All application materials will be treated with strict confidentiality. Candidates who pass the preliminary screening will be notified by phone or email for an interview.

Google announced earlier this month that it will integrate odds from online betting platforms Kalshi Inc. and Polymarket into its Google Finance tools amid pushback from lawmakers over the evolution of modern-day gambling.

The integration of these “event contract” sites will enable users to “ask questions about future market events and harness the wisdom of the crowds,” according to a company blog post. The decision, however, comes as both Kalshi and Polymarket navigate a complex web of state and federal regulations.

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Kalshi and Polymarket maintain their platforms offer “event contracts” between private parties that should be regulated like commodities rather than traditional gambling subject to state oversight; an argument that has received pushback from government officials, NBC Chicago said. Companies like Kalshi and Polymarket should “package sports betting as events contracts” to circumvent established gaming regulations, state attorneys general claimed in a lawsuit in June.

U.S. senators including five Democrats and one Republican addressed that concern in a letter to Commodity Futures Trading Commission Acting Chair Caroline Pham September “By claiming to be federally regulated … issuers of sports event contracts can avoid myriad state [gaming] laws, including licensing and background investigations, minimum age requirements, federal anti-money laundering rules, and consumer protections such as addiction warnings and integrity monitoring,” the lawmakers wrote.

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Nearly 80% of American voters support keeping prediction market regulation at the federal level rather than under state gambling authorities, according to a poll of 1,219 people nationwide commissioned by Kalshi and conducted by Axis Research. Eighty-nine percent of respondents agreed all Americans should have the freedom and ability to choose whether or not to engage in these markets regardless of their own participation.

Among those surveyed, 75% of Republicans and 71% of Democrats supported a federal regulatory approach to prediction markets. “American voters want the freedom to choose how to invest their own money without state-level interference,” Kalshi Head of Corporate Development Sara Slane said in a LinkedIn post. “The current federal regulatory structure is best equipped to oversee this financial activity, a point underscored by Congress.”

Prediction markets currently fall under the jurisdiction of the Commodities Futures Trading Commission, which oversees event-based contracts that allow participants to trade on the likelihood of future outcomes.

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Polymarket and Kalshi have faced criticism over controversies regarding event outcome determinations. For instance, Polymarket’s bet on whether Ukraine’s President Zelenskyy would appear in public wearing a suit before July sparked disputes about what qualifies as “a suit,” Event Horizon reported.

Meanwhile, Kalshi users expressed frustration after the company refused to pay out bets when former X CEO Linda Yaccarino announced she was leaving the company, reported Event Horizon.

The Trump administration has become a key player in Kalshi and Polymarket’s market dynamics. Donald Trump Jr., the president’s eldest son, serves as a formal adviser to both companies. The CFTC in May dropped a case against Kalshi initiated by Biden-era regulators, clearing the way for Polymarket to regain U.S. market access as indicated by the CFTC in September. In October, Trump’s social media platform Truth Social announced plans to launch Truth Predict, a crypto-based event betting service.

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