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On March 21, Bank of America discussed the outlook for the US dollar and maintained its medium-term bearish view. The bank stated, "Since the outbreak of the Iran war, the US dollar has unsurprisingly appreciated against other G10 currencies, although the overall appreciation has not been significant. Until the situation becomes clearer, oil prices and major risks will continue to dominate the foreign exchange market. Meanwhile, interest rate expectations have been raised in most G10 central banks, which has somewhat restrained the dollars appreciation," Bank of America noted. Bank of America further pointed out that although relative interest rates have not been the main driver of the foreign exchange market during this period, this situation may change as the impact of the war on the real economy gradually becomes apparent. "While we maintain our long-term bearish view on the US dollar, upside risks to the dollar are likely to dominate as the war continues," Bank of America added.The Israeli military claims to have attacked a ballistic missile production facility of the Iranian Revolutionary Guard in Tehran.On March 21st, at the recently concluded Huawei China Partner Conference 2026, Huawei unveiled and showcased the Atlas 350 AI training and inference accelerator card, powered by the new Ascend 950PR processor. Compared to its predecessor, the Ascend 950PR offers significant improvements in low-precision data formats, vector computing power, interconnect bandwidth, and Huaweis self-developed HBM (Hardware-Based Memory Management) architecture.On March 21, according to the official WeChat account of the China Council for the Promotion of International Trade (CCPIT), on March 20, Liu Jiannan, Vice Chairman of the CCPIT, met with a delegation led by Lin Yiming, Global Executive Vice President of Novo Nordisk, in Beijing. They discussed the CCPITs 15th Five-Year Plan policies on accelerating the construction of a healthy China and promoting the orderly expansion of opening-up in fields such as healthcare, and exchanged views on supporting Novo Nordisks investment and development in China and deepening international cooperation in the supply chain.Iranian President Pezechzian: The actions taken by the United States and Israel against Iran are extremely inhumane and immoral, and we strongly condemn them.

According to research, the Ukraine conflict might hasten Germany's move to green energy

Haiden Holmes

Jul 18, 2022 10:58

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According to a study published on Sunday, the ramifications of the Ukraine conflict may hasten Germany's shift to green energy despite Berlin's desire to connect coal-fired power units to compensate for diminishing fossil fuel supplies from Russia.


The German government has pushed for a shift to renewable energy, with the target of 80 percent of the nation's electricity generation coming from renewables by 2030.


Credit insurer Allianz (ETR:ALVG) Trade's study revealed that Germany's green energy objectives were expected to increase the amount of renewable energies in the electrical mix in the medium term, even beyond what would be required to meet the 2035 Paris climate targets.


The research showed that the rise in coal-fired power output permitted by the German government earlier this month will not raise CO2 emissions in the European Union since production will be regulated by the EU emissions trading system.


According to the analysis, it is unlikely that coal will become a long-term substitute for Russian gas due to the high EU carbon trading prices.


"(Coal-fired power generation) will be forced off the market," said the study's author, Markus Zimmer.


Moreover, he added that the planning and approval procedures for renewable energy must be simplified and hastened in order to meet the objectives of the German government.


According to the analysis, Germany's expansion of renewable energy in the power sector would need annual expenditures of around 28 billion euros through 2035, and the sector would need approximately 440,000 employees from 2022 to 2035 to achieve the goals.

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