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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 10th:

•  1553: Lady Jane Grey was proclaimed Queen of England, succeeding Edward VI, but her reign lasted only nine days before being overthrown by Mary I.

• 1940: World War II: The Battle of Britain began as the Luftwaffe started attacking British convoys in the English Channel.

• 1962: Telstar, the world's first communication satellite, was launched into orbit.

• 1991: Boris Yeltsin took office as the first elected president of Russia.

Open Market Forex Rates

Data is provided by Link Exchange

Todays Gold and Silver prices

Gold Prices (per Tola):

• 24 Karat: PKR 244,950

• 22 Karat: PKR 224,536

• 21 Karat: PKR 214,331

• 18 Karat: PKR 183,713

Silver Prices (per Tola):

• Silver: PKR 3,195

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

Data is provided by Waseem Jewellers

WORLD

Modi Urges Peace in Moscow Amid Ukraine Conflict

• Call for Peace: Indian Prime Minister Narendra Modi emphasized that "war cannot solve problems" and advocated for "peace through dialogue" during his visit to Moscow amid ongoing conflict in Ukraine.

• Condemnation of Violence: Modi expressed deep sorrow over the casualties in Ukraine, including children, and stressed the need for solutions through peaceful means, not warfare.

• Strategic Partnership and Awards: Modi and Russian President Vladimir Putin discussed their "specially privileged, strategic partnership," with Putin awarding Modi the Order of St Andrew the Apostle the First Called.

• Economic and Security Relations: The leaders discussed diversifying cooperation in various sectors, while acknowledging India's significant import of Russian oil and weapons. The visit comes as India balances its ties with Russia and growing Western relations.

Iran's President-Elect Affirms Support for Hezbollah Amid Regional Tensions

• Support for Hezbollah: Iran's president-elect Masoud Pezeshkian reiterated Iran's longstanding support for Lebanon's Hezbollah group, emphasizing it as a core policy of the Islamic Republic.

• Foreign Policy Stance: Pezeshkian condemned Israel's actions against Palestinians and expressed confidence in the "resistance movement" to counter Israel's policies, particularly in Gaza.

• Historical Context: Hezbollah, originally formed with Iranian support after Israel's 1982 intervention in Lebanon, receives financial and military backing from Tehran through Iran's Revolutionary Guards.

• Regional Dynamics: Tensions between Hezbollah and Israel have escalated, with frequent border clashes raising concerns of broader conflict in the region.

PAKISTAN

PM Shehbaz Announces Rs50bn Power Subsidy Amid Criticism Over Tariff Hike

• Power Subsidy Announcement: Prime Minister Shehbaz has announced a Rs50 billion subsidy for household consumers using up to 200 units of electricity for the next three months. This decision aims to alleviate public concern and provide relief amidst recent tariff hikes.

• Background on Tariff Hike: The federal government recently increased electricity tariffs by up to 51% for protected consumers and up to 43% for unprotected consumers, as part of requirements to secure an IMF loan. This move faced criticism for its impact on the salaried class.

• Subsidy Details: The subsidy will reduce the cost of electricity to approximately Rs4 to Rs5 per unit for eligible consumers, including those serviced by K-Electric.

• Financial Source: PM Shehbaz clarified that the subsidy will be funded from the government's development fund, highlighting that 94% of electricity consumers will benefit from this relief measure.

• Public Response and Future Outlook: Shehbaz emphasized the temporary nature of the subsidy, focusing on the challenging summer months when electricity consumption peaks. He expressed confidence in overcoming economic challenges through collective efforts and combating corruption.

Pakistan Authorizes ISI to Intercept Calls in National Security Move

• Authorization Details: The Ministry of Information Technology and Telecommunication in Pakistan has authorized the Inter-Services Intelligence (ISI) under Section 54 of the Pakistan Telecommunication (Re-organisation) Act, 1996, to intercept and trace calls. This move is justified as being in the interest of national security and for apprehending potential offenses.

• Legal Context: The authorization allows ISI officers, not below the rank of grade 18, nominated by the agency, to conduct call interceptions and trace messages through any telecommunication system.

• Judicial Response: In a related development, the Islamabad High Court had previously been informed that no intelligence agency had been permitted to tap audio conversations. However, this recent authorization expands the scope of legal interception under existing laws.

• Political and Public Reaction: The move has drawn criticism from political quarters, including the PTI, which highlighted concerns over privacy and human rights implications. Former Human Rights Minister Shireen Mazari likened the move to themes from George Orwell's novel "1984," expressing concerns over potential misuse of surveillance powers.

• Legal Framework: Section 54 of the Act empowers the federal government to authorize call interceptions and tracing in the interest of national security or to prevent offenses, highlighting a balance between security needs and privacy rights.

Kenyan Court Declares Killing of Pakistani Journalist Arshad Sharif Unlawful

• Unlawful Use of Force: A Kenyan court ruled that the police unlawfully used lethal force in the killing of Pakistani journalist Arshad Sharif, rejecting claims of mistaken identity.

• Compensation Ordered: The Kenyan government was ordered to pay $78,000 in compensation to Sharif's family for violating his rights to life, dignity, and freedom from torture.

• Accountability for Police Actions: The court mandated further investigations and potential prosecution of the police officers involved, highlighting systemic issues of police brutality in Kenya.

• Press Freedom and Justice: Sharif's widow, Javeria Siddique, emphasized the lack of press freedom in Pakistan and expressed gratitude for the court's decision, which sets a precedent for accountability in journalist killings.

Government Declares Ashura Holidays for 2024 Amid Security Measures

• Holiday Announcement: The federal government of Pakistan has declared July 16th and 17th, 2024, as public holidays to observe Ashura, which falls on the 9th and 10th of Muharram in the Islamic calendar.

• Security Measures: Provincial governments, including Punjab and Sindh, have implemented strict security measures, such as bans on pillion riding, to ensure public safety during the commemoration of Ashura.

• Significance: Ashura is a significant religious observance for Muslims worldwide, commemorating the martyrdom of Imam Hussain, the grandson of Prophet Muhammad, and his followers in Karbala.

BUSINESS

Relief on Small Imported Cars Frustrates Local Auto Sector

• Tax Exemption on Small Imported Cars: The 2024-25 fiscal budget exempts small imported cars (below 1300cc) from the newly imposed 15% regulatory duty, which has angered local car manufacturers.

• Impact on Local Industry: Local car makers, represented by the Pakistan Automotive Manufacturers Association (PAMA) and the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), argue that the exemption undermines their sales and has led to significant job losses.

• Proposed Adjustments: PAMA recommends imposing a 15% regulatory duty on all imported cars, including those below 1300cc, and revising outdated tax values to reflect current market prices.

• Concerns Over Market Fairness: The influx of smaller, duty-exempt used cars is seen as unfair competition, potentially reducing the market share of locally assembled vehicles and further impacting the local auto industry.

TECHNOLOGY

Google Fiber Advances with 20 Gig Speeds, Eyes Future 50 Gig Service

• Initial Rollout of 20 Gig Plan: Google Fiber has introduced a 20 Gig plan through an Early Access Program in select regions, with plans to expand this service across all its markets by the end of 2024.

• Future 50 Gig Service: While 50 Gig speeds are being tested, it will take several years before this service is widely available to customers. Current tests showed download speeds of 41.89 Gbps and upload speeds of 19.6 Gbps.

• Global Multi-Gig Fiber Development: Other providers like Ziply Fiber in the northwestern U.S. are already offering 50 Gig internet. Nokia has also tested 100 Gig PON technology in Australia, indicating global advancements in fiber technology.

• Symmetrical Speeds Highlight: Google Fiber's 20 Gig service is symmetrical, providing equal upload and download speeds of 20 Gbps, a significant feature for users needing high-speed data transfer in both directions.

CMF Phone 1: Redefining Fun and Customization in Budget Smartphones

• Innovative Modular Design: CMF, a sub-brand of Nothing, introduces the Phone 1 with a unique modular design allowing users to easily swap the back panel for different colors and styles, providing a new level of customization.

• Budget-Friendly Features: Priced at $199, the Phone 1 offers a 6.7-inch OLED display, a 50-megapixel rear camera, a MediaTek Dimensity 7300 chipset, and a 5,000mAh battery, making it an attractive option for budget-conscious consumers.

• Customizable Accessories: CMF offers vibrant accessories, including a lanyard, a wallet, and a kickstand, all in eye-catching orange. These accessories enhance the phone's functionality and style.

• Trade-offs and Compatibility: While the Phone 1 lacks NFC and has limited carrier support in the US, its splash resistance and modularity provide a fun and functional experience at an affordable price point.

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HEALTH

Swedish Researchers Develop Home Test to Predict Cardiovascular Risk

• Innovative Algorithm: Swedish researchers have developed a 14-question algorithm-based home test to assess cardiovascular disease risk factors. Questions include age, gender, weight, waist circumference, smoking, blood pressure, blood fats, diabetes, and family history of heart disease.

• Risk Identification: The home test can identify 65% of individuals at the highest risk for cardiovascular disease, focusing on those with moderate to severe coronary atherosclerosis.

• Non-Imaging Approach: The tool utilizes self-reported data instead of imaging, aiming to prescreen individuals effectively before considering more resource-intensive computed tomography (CT) scans.

• Clinical Utility: Researchers suggest the test could be integrated into healthcare systems to improve early detection and treatment efficacy, potentially saving lives by identifying high-risk individuals who may benefit from intensive monitoring or treatment adjustments.

• Future Implications: Professor Bergström emphasizes the test's potential to be as accurate as clinic-based examinations using blood tests and blood pressure measurements, making it a valuable tool for widespread use in healthcare settings.

How To Partner With Big Business When You’re A Startup

Partnering with large organizations as a startup offers numerous benefits, including access to larger markets, steady revenue streams, and corporate expertise. Conversely, startups provide innovative solutions and new products that enhance customer engagement for big companies.

Identifying the Decision-Maker

Charlotte Guzzo, COO and co-founder of Sano Genetics, emphasizes the importance of understanding corporate dynamics when pitching to major players. "Large corporations seek assurance through previous sector experience, showcasing an understanding of their challenges and operational methods," says Guzzo. Overcoming initial trust barriers is critical, as gaining one client simplifies securing subsequent partnerships.

Navigating large organizations involves meticulous research and networking to pinpoint decision-makers amid complex structures. Guzzo advises leveraging organizational charts, LinkedIn profiles, and industry accelerators to deepen insights and access pitching opportunities.

Articulating Value and Long-Term Engagement

Clear communication on how your solution addresses corporate challenges is pivotal. Guzzo stresses simplicity in implementation and minimizing disruption, vital for risk-averse corporations. Although onboarding large clients entails high initial costs and lengthy sales cycles, it opens avenues for extended collaborations and new projects within the same organization.

Credibility and Visibility

Jessica Warch, co-founder of Kimai, highlights the transformative impact of partnering with prestigious retailers like Net-a-Porter. "Listing with a major retailer enhances credibility, broadens audience reach, and aligns the brand with established names," says Warch. Despite challenges in navigating traditional perceptions, proactive outreach and alignment of values can successfully position innovative startups in established markets.

Agility and Strategic Advantage

Rachel Markie, founder of Seaglow Media, underscores agility as a key advantage startups offer. "Direct access to specialized expertise and quick decision-making distinguish us from larger agencies," Markie notes. Startups' ability to prioritize each client enhances their value as flexible, responsive partners for corporations, mitigating concerns about capacity and stability.

Proactive Outreach and Strategic Sales

Jessica Lorimer, host of the Selling to Corporate podcast, advocates for proactive outreach in securing corporate contracts. "Targeted, courteous outreach significantly outperforms social media, driving substantial deals and fostering client trust," Lorimer explains. Monitoring key metrics like lead generation and sales conversions enables startups to refine their B2B strategies effectively.

In conclusion, while partnering with big businesses poses challenges such as lengthy sales cycles and high initial costs, startups can capitalize on their agility, innovation, and niche expertise to forge mutually beneficial alliances. Strategic outreach, clear articulation of value propositions, and alignment with corporate values are essential for establishing enduring partnerships in competitive markets.

What else is happening?

• Most medical students at Johns Hopkins University won’t have to pay tuition anymore thanks to a $1 billion gift from Michael Bloomberg.

• A Russian missile hit a Ukrainian children’s hospital, killing at least 37 people.

• NDMA issues alert about scattered rainfall in Sindh today.

• Two terrorists killed and one soilder martyred in North Waziristan: ISPR.

• German conslate in Karachi suspends visa services.

• Army to be deployed nationwide for Muharram security.

• Punjab Board Matric Results 2024 released.

• Lahore ATC dismisses Imran Khans pre-arrest bail petitions in three 9th May cases.

• Milk prices in Pakistan dramatically increases after government imposes 18% tax.

• President Zardari voices opposition to proposed agriculture tax.

• High electricity bills caused a mosque to close in Harbanspura, Lahore.

• Software engineer kills company CEO over un paid salary in Karachi.

• Elon Musk's remarks sparked concerns about WhatsApp's privacy after reports linked WhatsApp chats to targeted ads on Instagram. A security warning highlighted vulnerabilities in WhatsApp's desktop app, suggesting it could compromise message encryption by allowing malware to intercept and transmit data to external servers.