On this day…

Good morning and welcome to The Blue Express! As we step into another day, let's take a moment to reflect on some of the significant historical events that occurred on July 13th:

•  1985 - Live Aid Concerts: On July 13, 1985, the Live Aid concerts took place in London and Philadelphia. Organized by Bob Geldof and Midge Ure to raise funds for the famine in Ethiopia, it featured performances by many prominent artists and raised millions of dollars for the cause.

• 1977 - New York City Blackout: On the night of July 13, 1977, a massive blackout struck New York City, lasting for 25 hours. The power outage led to widespread looting, arson, and disorder, resulting in significant property damage and highlighting the city’s economic and social challenges.

• 1960 - John F. Kennedy Nominated for President: On July 13, 1960, John F. Kennedy was nominated as the Democratic candidate for President of the United States at the Democratic National Convention in Los Angeles. His nomination marked the beginning of a campaign that would lead to his election as the 35th President.

• 1930 - First FIFA World Cup: The first-ever FIFA World Cup match was played on July 13, 1930, in Uruguay. The tournament featured 13 teams and marked the beginning of what would become the world's most prestigious football competition. Uruguay went on to win the inaugural World Cup.

Open Market Forex Rates

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Todays Gold and Silver prices

Gold Prices (per Tola) 24 Karat: PKR 248,800

Silver Prices (per Tola) PKR 2,550

*These prices are consistent across major cities like Karachi, Lahore, Islamabad, and Rawalpindi with minor variations

Data is provided by Waseem Jewellers

WORLD

Biden Calls for End to Israel-Gaza War and No Occupation of Gaza

• Immediate End and No Occupation: President Biden called for an immediate end to the Israel-Gaza war and stressed that Israel should not occupy Gaza after the conflict.

• Ceasefire Framework Agreement: Biden announced that a ceasefire framework had been agreed upon by both Israel and Hamas, with US officials working on finalizing the details.

• Phased Peace Proposal: Biden's proposal includes achieving a ceasefire, releasing hostages, withdrawing Israeli forces from Gaza, and rebuilding the enclave.

• International and Domestic Reactions: The Biden administration faces criticism and protests for its support of Israel amid high civilian casualties in Gaza.

Mass Protests in Bangladesh: Students Demand Abolition of Job Quotas

• Massive Protests: Tens of thousands of university students in Dhaka and other cities protested against the reinstatement of job quotas, demanding a merit-based system for government jobs.

• Historical Context: The quota system, which reserves over 50% of government jobs for certain groups, was abolished in 2018 following similar protests but was recently reinstated by a Dhaka court.

• Nationwide Impact: The protests disrupted major traffic routes and the metro rail in Dhaka, and demonstrations spread to other cities like Chattogram, Comilla, Rajshahi, and Sylhet.

• Student Demands: Protest leaders are calling for a special parliamentary session to address their demands, arguing that the quota system limits opportunities for talented candidates in essential roles.

PAKISTAN

Pakistan and Azerbaijan Set to Boost Bilateral Investment to $2 Billion

• Investment Agreement: Pakistan and Azerbaijan agreed to enhance bilateral investment to $2 billion, focusing on mutually beneficial projects.

• Future Prospects: Prime Minister Shehbaz Sharif expressed hope for signing initial agreements worth $2 billion during his visit to Azerbaijan in November, aiming to multiply this figure in the coming years.

• Strengthening Ties: The discussions emphasized increasing bilateral trade, joint cooperation, and investments, reflecting the strong brotherhood and support between the two countries.

• Joint Initiatives: President Ilham Aliyev highlighted potential projects in energy, connectivity, infrastructure, and the defense industry, aiming to build robust economic and trade partnerships alongside existing political ties.

Sindh Minister Criticizes Supreme Court Verdict on Reserved Seats

• Supreme Court Verdict: The Supreme Court ruled that Pakistan Tehreek-e-Insaf (PTI) was entitled to reserved seats, declaring the Election Commission of Pakistan's (ECP) allocation to the ruling coalition unconstitutional.

• Minister's Response: Senior Sindh Minister Sharjeel Inam Memon expressed confusion and criticized the decision, urging adherence to the law over personal favoritism and highlighting the Pakistan People's Party (PPP)'s history of suffering from judicial decisions.

• Political Criticism: Memon accused former Chief Justice Saqib Nisar of bias towards Imran Khan and PTI, alleging undemocratic and unethical behavior from Khan, including targeting political opponents' families.

• Reserved Seats Controversy: The case stemmed from the February 8 elections where PTI-backed candidates won but were denied reserved seats by the ECP, a decision later challenged by the Sunni Ittehad Council (SIC) and overturned by the Supreme Court.

Karachi on High Alert for Muharram: Anti-Terror Measures Intensified

• Threat Alert: Karachi's anti-encroachment police have received warnings of potential terrorist attacks during Muharram, leading to heightened security measures.

• Safety Guidelines: Police personnel are advised against solo duties and using identifiable uniforms while off-duty to minimize risks.

• Nationwide Military Deployment: The federal government approved the deployment of armed forces across Pakistan, including Sindh, Balochistan, Khyber-Pakhtunkhwa, Islamabad, Gilgit-Baltistan, and Azad Jammu and Kashmir, to maintain law and order.

• Provinces' Discretion: The Ministry of Interior stated that army deployment will be contingent on the local situation, with provinces deciding specific deployment locations.

BUSINESS

Auto Sales Surge to 18-Month High in June 2024, Led by Indus Motors and Pak Suzuki

• Significant Growth: Auto sales in June 2024 reached 13,284 units, marking an 18-month high with a 21% month-on-month (MoM) increase and a 120% year-on-year (YoY) rise.

• Leading Contributors: Indus Motors saw a 44% MoM increase to 2,957 units, and Pak Suzuki Motor Company Ltd rose by 15% to 6,885 units, driving the overall sales growth.

• Mixed Performance: Hyundai Nishat Motor's sales increased by 55% MoM, while Sazgar Engineering Works (SAZEW) rose by 12%. Honda Atlas Cars Limited (HACL) was the only company with a decline, down by 8% MoM.

• Economic Influence: Improved economic activity, a stable currency, and reduced interest rates are expected to boost future car sales, despite the overall fiscal year 2024 sales being down by 18% due to high car prices and low purchasing power.

TECHNOLOGY

WhatsApp Introduces 'Context Cards' to Combat Shady Group Invites

• New Safety Feature: WhatsApp is rolling out 'context cards' to help users determine if they want to stay in newly added groups, especially those from unknown contacts.

• Detailed Information: The context card provides essential details like who added you, when the group was created, and who the creator is, allowing users to make informed decisions about staying or leaving the group.

• Enhanced Security Suite: This update builds on WhatsApp’s existing security features, such as silencing unknown callers, chat lock, in-app privacy check-up, and control over group additions.

• Proactive User Protection: By providing more context about group invitations, WhatsApp aims to safeguard its users from online scams and unwanted interactions within group chats.