According to the draft G7 joint communique: According to the situation of each country, the common net zero emission target should be achieved by 2050 at the latest.

According to the draft G7 joint communiqué: there is a "real and urgent" need to accelerate the transition to green energy while using it as a means of increasing energy security.

According to the draft G7 joint communiqué: G7 members using nuclear energy will work with like-minded partners to reduce their dependence on Russia.

According to the draft G7 joint communiqué: public support for investment in the natural gas industry could serve as a temporary response to accelerating the reduction of energy dependence on Russia.

According to the draft G7 joint communique: In the current crisis, investing in the natural gas industry may be appropriate.

According to a draft G7 joint communiqué, increased LNG deliveries could play an "important role" in addressing the impact of the Russia-Ukraine conflict on energy supplies.

Hungarian state news agency: Hungary will phase out windfall profits tax in 2024, the finance minister told bankers at a meeting.

The Central Bank of Angola left its benchmark interest rate unchanged at 17%.

According to a Reuters survey: 7 out of 11 economists expect the Hungarian central bank to cut the one-day deposit rate by 100 basis points next week.

Indian Minister: Tesla is "seriously" considering plans to establish a production and innovation base in India.

According to TASS: Russian Federal Security Council Secretary Patrushev said that NATO has increased potential threats on the Russian border.

Bank of America: Cash inflows slow; $151 billion in last 4 weeks vs. $404 billion in 4 weeks after SVB collapse.

Bank of America: Emerging market bond outflows of $200 million over the past two weeks and emerging market equity inflows of $3.3 billion over the past five weeks.

Bank of America: The biggest "painful deal" in the next 12 months is the US federal funds rate reaching 6% instead of 3%.

Bank of America cites EPFR data: The 60/40 portfolio is projected to deliver an annualized return of 28% in 2023, the highest since 1995 after a "catastrophic" 2022.

Bank of America quoted EPFR data: As of the week of May 17, weekly cash inflows were $25.1 billion, of which bond inflows were $5.6 billion, gold inflows were $400 million, and stock inflows were $7.7 billion.

Market news: U.S. President Joe Biden will get the latest progress from the debt ceiling negotiating team today.

According to a related blog, Google said it would release a white paper recommending a policy agenda for responsible AI development.

[Vietnam starts rolling blackouts, power outages in some areas for up to 7 hours] Vietnam began to implement rolling blackouts across the country as planned, due to the surge in power demand in extremely hot weather. The rolling blackouts will spread to much of the country, including the capital Hanoi, and could last until the end of the month, according to a notice issued by the local subsidiary of state-owned utility Vietnam Electricity Group. The power outage in some areas will last up to seven hours, the notice said. Vietnamese Prime Minister Pham Minh Trung said parts of Vietnam will face power shortages until May 25 due to rising electricity consumption due to a severe heat wave, coupled with the continued drought that has caused water levels at hydropower stations to drop. Parts of Asia have been battered by hot weather over the past few weeks and are facing further effects from El Niño.