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13/03/2023 ---- 20/03/2023

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20.03.2023

THEME: ECONOMY

Inflation and Climate Change: a Global Battle for Green Investments is ongoing

As global inflation continues to be a pressing concern, the United States took bold steps with the Inflation Reduction Act (IRA) to curb inflation and drive green investments, passed on August 16, 2022. The United States introduced the IRA to combat inflation and reshape the economy by promoting green investments. The act, a part of President Joe Biden's "Build Back Better" agenda, allocates a whopping $369 billion to climate and energy policies. While the act has been lauded for its focus on the environment, it has also attracted concerns across the Atlantic. This move is raising eyebrows in the European Union, as member countries worry about the potential impact on their economies and industries.

The European Union, already dealing with the consequences of the Inflation Reduction Act, is worried about the potential impact on its economy and industries. European companies are considering relocating to the US to take advantage of the IRA's generous subsidies. This has led to calls within the EU for a swift response to stabilize the situation. EU Commission President Ursula von der Leyen has announced plans for a new Net-Zero Industry Act to rival the IRA, targeting green industries and promoting European cleantech innovation. This proposed legislation underscores the EU's determination to protect its economy and growing green sector. The EU also aims to cut red tape, streamline regulatory processes, and increase green investments to maintain competitiveness. A nation that is being mainly put under pressure by the IRA is Germany, as German companies are considering investing more heavily in the United States. There are concerns about what this could mean for the EU's economy. Several projects in Germany have been delayed or put on hold due to the IRA's subsidies, raising questions about the future of the EU as an attractive location for green investments. While some experts argue that there is no immediate threat to the EU's industrial sector, the IRA has undeniably increased competition.

In response to the IRA, the EU is considering countermeasures, including more freedom for member states to provide subsidies. However, this has also led to fears of a "subsidy spiral" that could prove detrimental in the long run. The ongoing energy crisis, fueled partly by the conflict in Ukraine, has put additional pressure on the EU, favouring the US in the green investment race. This development further complicates EU-US relations and could have significant repercussions for the two economies. While the future remains uncertain, it is clear that both the EU and the US are locked in a battle for green investments and dominance in the clean tech sector. The outcome of this struggle will depend on how each bloc navigates the challenges ahead and the strategic decisions they make in the coming years. The Inflation Reduction Act has sparked global competition for green investments. The European Union strives to counterbalance its impact on their industries and economy. As the energy crisis unfolds and the race for green dominance continues, the future of EU-US relations and the global green economy hangs in the balance.

20.03.2023

THEME: WORLD

Ukraine crisis update: Putin is incriminated by the International Court, as Russia gains territory and China starts to act as mediator

The ongoing war in Ukraine has been a source of tension between the European Union (EU) and Russia in recent months. Despite efforts from China to broker peace talks, the conflict shows no signs of ending. Tensions between the US and Russia are escalating, with both presidents publicly appearing on the issue. In this article, we summarise the main events from February 21 to today. To read about previous events, please follow our link below. On February 21, Russian President Vladimir Putin claimed that the West was responsible for "fueling the Ukrainian conflict" and announced that Russia would suspend its participation in the New START nuclear weapons treaty. NATO Secretary-General Jens Stoltenberg responded by accusing Putin of starting the war. Tensions continued to intensify at the United Nations (UN) as the 193-member UN General Assembly called for an end to the conflict. On February 24, the UN council voted on a resolution against Russia and Putin. On the same day, China released an individual initiative for conflict resolution with a proposal of 12 points, including respecting the sovereignty of all countries, abandoning the Cold War mentality, ceasing hostilities, resolving the humanitarian crisis, stopping unilateral sanctions, and keeping industrial and supply chains stable. On February 28, clashes between protesters and police erupted in Moldova's capital, Chisinau, and there were fears of a possible Russian plan to subvert the democratic order of the country and organize a coup d'état. Russia also accused the Ukrainian army of attempting to target civilian infrastructure through drone attacks on the northeastern Black Sea coast. Tensions were confirmed at the G20 meeting of Foreign Ministers, which took place from March 2 to March 4 in New Delhi. A panel of the Group of 20 on March 4 ended without a consensus on the Ukraine war as China joined Russia in refusing to support a demand for Moscow to cease hostilities. German Chancellor Olaf Scholz spoke about the conflict in a speech to the German Parliament, asking China not to help Russia with weapons.

On March 6, the head of Russia's Wagner private army complained about not getting the ammunition it needed from Moscow while Russian troops continued to try to seize the eastern city of Bakhmut from Ukraine. On March 9, Russia pounded Ukraine with missiles and endangered the Zaporizhzhia nuclear power plant by isolating it from the power grid. In weeks, the most significant Russian strikes on Ukraine killed at least six people and caused power outages nationwide. On March 17, the International Criminal Court (ICC) issued an arrest warrant against Putin over war crimes, focusing on the unlawful deportation of children from Ukraine to Russia since Moscow's invasion in 2022. The ICC cannot arrest suspects without cooperating with a country's government, but Mr Putin could now be stopped if he sets foot in any of the court's 123 member states. He is only the third president to be issued with an ICC arrest warrant. On March 20, China's President Xi Jinping visited Putin in Moscow to follow up on its previously declared role as a mediator in resolving the Ukraine crisis. The two leaders discussed China's 12-point position paper on the Ukraine conflict, which includes a call for dialogue and respect for all countries' territorial sovereignty. However, Western nations criticized China's proposals, saying they were heavy on grand principles but light on practical solutions.

In conclusion, the situation in Ukraine remains tense, with no clear resolution in sight. The conflict has not only affected Ukraine but has also strained relationships between major world powers. While some efforts to broker peace talks have been made, they have failed. The ongoing war in Ukraine is a significant international relations issue and is closely watched by the world community.

19.03.2023

THEME: TECHNOLOGY

Organoid Intelligence: bridging the gap between the human brain and AI (Artificial Intelligence)

Imagine a world where biological computers harness the power of the human brain to solve complex problems and unlock the secrets of our most intricate organs. It may sound like a far-fetched sci-fi novel, but recent advancements in organoid intelligence could make this a reality sooner than we think. In a recent study published in the journal Frontiers in Science, a team of researchers led by Dr Thomas Hartung has proposed a fascinating plan to develop organoid intelligence. This cutting-edge field combines the power of brain organoids and AI. Brain organoids are lab-grown tissues resembling organs derived from stem cells, containing neurons capable of brain-like functions. The researchers believe these organoids could be combined into biological hardware, more energy-efficient than supercomputers, and capable of revolutionizing pharmaceutical testing, providing insight into the human brain and changing the future of computing.

While AI has made remarkable progress in recent years, it still cannot fully replicate the human brain's capabilities. Our brains are more energy-efficient, better at learning, and more adept at making complex logical decisions than any AI system. Organoid intelligence seeks to bridge this gap by leveraging the best of both worlds – the human brain's power and AI's computational prowess. Biocomputing, as envisioned by the researchers, would surpass current technological limits by compacting computational power and increasing efficiency. It would allow for a better understanding of neurological conditions, such as Alzheimer's disease, and offer new ways to study the human brain by performing experiments that would be ethically impossible on living brains. By integrating organoid intelligence with AI, researchers could create a mutually beneficial communication channel that would enable them to explore each other's capabilities and unlock new possibilities in human medicine, cognition, and computing.

Although organoid intelligence is still in its infancy, the potential impact on human medicine, cognition, and computing is immense. For example, brain organoids could be developed from skin samples of patients with neural disorders, allowing scientists to test different medicines and study the cognitive aspects of these conditions. Furthermore, researchers could use organoid intelligence to investigate and understand complex mental issues in neurological disorders such as autism. Developing organoid intelligence to the level of a computer with the brainpower of a mouse could take decades, but there have already been promising results. In a recent experiment, a team in Melbourne, Australia, demonstrated that brain cells could learn to play Pong, a simple video game. This achievement already fulfils the basic definition of organoid intelligence. The researchers believe it's just a matter of building the tools and technologies to realize their full potential. However, the development of organoid intelligence also raises ethical concerns, such as whether these brain organoids could develop consciousness or feel pain. The researchers are committed to addressing these ethical issues by partnering with ethicists and involving the public in the research process. The convergence of human cognition and machine intelligence through organoid intelligence presents a groundbreaking opportunity to advance our understanding of the brain and revolutionize AI. As technology and biology race forward, we must ensure that the ethical and moral discussions keep pace to prevent technology from plunging into a moral abyss. As we stand at the cusp of this exciting new frontier, the possibilities are endless, and the impact on society could be transformative.

15.03.2023

THEME: ENVIRONMENT

Air pollution may hinder the reproduction of insects and drastically lead to population decline

Fruit flies reproduce through sexual reproduction, which involves the fusion of gametes from male and female fruit flies. Female fruit flies select their mates through the scent of their pheromones. Mating typically involves a brief courtship ritual. The male attempts to convince the female to mate by performing a series of behaviours such as wing vibration, leg tapping, and genital licking. Once the male has successfully mated with the female, he deposits a package of sperm, called a spermatophore, into the female's reproductive tract. After mating, the female fruit fly begins laying eggs on suitable food sources, such as rotting fruit or vegetables. She can lay up to 500 eggs during her lifetime, with each egg developing into a larva that undergoes several moults before pupating and eventually emerging as an adult fruit fly.

Environmental factors, such as temperature, humidity, and nutrient availability, highly influence the reproductive cycle of fruit flies. A recent study published in the journal Nature Communications led by Markus Knader, a researcher of evolutionary neuroethology at the Max Plank Institute, shows that ozone pollution can disrupt the male's ability to emit their characteristic odour (pheromones) therefore posing a threat to how successfully fruit flies and other insects reproduce. Scientists tested nine species of Drosophila fruit flies by exposing half the males from each species to ambient air and half to an atmosphere with ozone levels at 100 parts per billion. Average industrial ozone levels are roughly 40 parts per billion, but regions like India, China or Mexico experience magnitudes as high as 210 parts per billion. They found the males exposed to higher ozone levels started emitting fewer pheromones. As a result, they had trouble attracting female partners. Insect pheromones are based on chains of molecules latched together by two carbon molecules. Still, ozone can break up these carbon bonds and dissolve the pheromone strings. The effect in nature is likely to be amplified, as ozone is just one of many environmental pollutants that can do this.

It is essential to highlight that in the lab, it does not matter whether the male has to wait one or two minutes longer to mate. Still, in the field, there is a lot of selection pressure. The flies must be efficient, so they must give everything to find the female as soon as possible, copulate and fertilise her eggs before a predator kills them. What fruit flies are experiencing could be happening for several other insects, including moths, ants, or pollinators like bees, who not only mate but also communicate and coordinate their colonies and nests with unique pheromone signatures.

15.03.2023

THEME: ECONOMY

The banking system is under intense pressure in the stock market worldwide

At its core, a financial crisis is a sudden and severe disruption in the normal functioning of the financial system. It can be triggered by various factors, from excessive borrowing and risky investments to market bubbles and regulatory failures. Whatever the cause, the impact can be devastating, with millions of people losing their jobs, homes, and savings. The most recent crisis is often called the 2008 global financial crisis. A severe economic downturn started in the United States and quickly spread to other countries. The crisis was triggered by a combination of factors, including the housing bubble, subprime mortgage lending, and the widespread use of complex financial instruments. When the bubble burst and many mortgages began to default, it led to a credit crunch, a severe contraction in lending, and a deep recession. The crisis had far-reaching consequences, including widespread job losses, foreclosures, and a long-lasting impact on the global economy.

The global banking system has weathered many storms over the years, but the next crisis may be just around the corner. As economies worldwide continue to struggle with the ongoing effects of the COVID-19 pandemic, the banking system is hit particularly hard by rising interest rates. Last week, on Friday, March 10, a well-known institution - the Silicon Valley Bank, SVB - collapsed within a few hours. SVB was one of America’s 20 largest commercial banks, with $209 billion in total assets at the end of last year. It is now under the control of the US Federal Deposit Insurance Corporation after it could not pay back customers who withdrew their deposits. The collapse of SVB had a knock-on effect, with the four largest US banks losing more than $50 billion in market value. Bank shares in Asia and Europe also fell sharply on Friday. In an extraordinary action to restore confidence in America’s banking system, the Biden administration on Sunday guaranteed that customers of the failed Silicon Valley Bank will have access to all their money starting Monday. In a related action, the government shut down Signature Bank. Recently, this regional bank has been teetering on the brink of collapse. Signature’s customers will receive a similar deal, ensuring that even uninsured deposits will be returned to them Monday.

Although the prompt action of the US government has reinsured investors to some extent, in recent days, the stock market value of most banks in the US and EU has seen a steep downturn. A bank that is particularly under pressure is Credit Suisse. In 2021, Credit Suisse faced significant financial losses due to its exposure to the collapse of Archegos Capital Management and the Greensill Capital scandal, resulting in a sharp drop in its stock market value. The recent events added further pressure, and the value of the shares dropped by nearly 40% in the last month. Similarly, HSBC has seen a drop of more than 10%, Barclays and UBS about 17%, and Goldman Sachs 18% in the last month. Hopefully, this will not be the beginning of a new global crisis for which new unknown dynamics may be unveiled.

13.03.2023

THEME: ENTERTAINMENT

Oscars were assigned last night in Los Angeles

The 95th edition of the Oscar, one of the most highly anticipated events in the entertainment industry, occurred last night, March 12th, in Los Angeles to honour the best movie releases of the year. The most nominated film was "Everything Everywhere All at Once", which won seven awards, including best picture. The manic multiverse fantasy about a fractured family swept up in an interdimensional adventure also saw wins for best actress, best director, best-supporting actor, best supporting actress, best editing and best original screenplay. Michelle Yeoh has become the second woman of colour to win the best actress Oscar following in the footsteps of Halle Berry back in 2002. "For all the little boys and girls who look like me watching tonight, this is a beacon of hope and possibility," she said before adding: "Ladies, don't ever let anyone tell you you are past your prime." Ke Huy Quan was named the best supporting actor for his role in the film, beating out Barry Keoghan and Judd Hirsch. He has become the first Vietnam-born actor to win an Oscar. "Mom, I just won an Oscar!" he said tearfully. "They say stories like this only happen in the movies. I cannot believe this is happening to me." It was the first time multiple Asian actors won Oscars in the same year. Jamie Lee Curtis was also named best supporting actress triumphing over Angela Bassett and Kerry Condon. The price of the best actor went to Brendan Fraser for his lead role in "The Whale", beating out Austin Butler and Colin Farrell. Netflix's German war epic "All Quiet on the Western Front" brought home four awards: international feature film, original score, production design and cinematography.

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