Ant Group teams up with NayaPay for consumer-friendly zones program in China

Morning! When you get sick right after Eid, how do you know if the allergy season is to blame… or Nazr? We are obviously leaning more toward the science-backed, rational, and logical option.. which is the second one 🧿💠🌀🤲.

In this week’s edition:

💡 Where Info Meets Inspo: Adeel Akhtar from Fleek (a UK-based company backed by Y-Combinator)

🛫 Your summer vacation plans for this year might get ruined

🏗 Can we put a label on it?

🌌 Dark Vs space pollution

💱 NayaPay’s nayi things

- The Itla Squad 💼

Itla Careers

Where Info Meets Inspo with Adeel Akhtar 💡 

Where Info Meets Inspo is an Itla segment where we highlight professionals who work within the tech and business realm - in Pakistan or abroad. Hit reply if you’d like a chance to be featured.

How would you explain your job to someone with no exposure to your field?

Working in growth is kinda like tending to a garden. I don't just water the plants and pray; instead, I carefully analyse the soil, the sunlight, and the types of plants we have. Based on these insights, I develop a plan to ensure the garden blossoms.

In the world of business, instead of plants, I work with different aspects of a company's growth. I use data and insights to understand what's working well and what is not. Just like in a garden, I might tweak how we're generating demand out of potential customers (like planting seeds), how we're getting them interested about our product/service (like watering and fertilizing), and how we're turning their interest into actual $$ (like harvesting ripe fruits).

My role involves using some frameworks and analytical thinking. I'm always trying out new ideas, testing different approaches, and learning from the results to continuously improve and scale up the growth of the company.

What’s the most interesting project you’ve worked on?

There are so many that come to mind but more recently while I was working for my previous company at MedzNmore, we had multiple channels for sales. We used to supply medicine to individual consumers. One of them was a government agency in Pakistan whose employees received medicine from our platform. The average monthly customer value (total money customers spend per month) for these customers was 5X that of our average consumer. This discovery shed light on a crucial issue: while many average consumers in Pakistan struggled to afford life-saving medication, the government-funded employees had access to it. With all the news about bloated government expenditure in Pakistan and the economic crises looming throughout 2023, this went to show the actual end users of our taxes were ordinary Pakistanis. This fundamentally changed my perspective on economic policy, especially fiscal policy.

What’s your favorite tech/business-related media you read/watch/listen to?

I'm quite immersed in economics, finance, and private capital, so I follow various content creators and news outlets. For international news and tech insights, I enjoy TechCrunch and podcasts like 'All-In.' Additionally, I regularly engage with creators such as 'The Plain Bagel' and Wall Street Millennial.' For a more Pakistan-centric focus, I turn to platforms like Pakistanomy by Uzair Yonus and follow economists like Khurram Husain and Atif Mian for their valuable perspectives.

Business

Global 🌎️

We thought we all were broke?

The airline industry is facing a tough situation this summer and thankfully, it’s not due to the passengers starting a WWE match because they didn’t want to wear a mask. This year, it is due to a simple reason: they just don’t have enough planes.

Estimations say that more people want to travel (with 4.7 billion people expected to travel in 2024 compared with 4.5 billion in 2019.), but they might find themselves with their luggage…with no plane in sight.

The details:

• The companies that make most of the world's planes, Boeing and Airbus, are having problems making enough planes. Boeing's issues got worse as they had to stop production of one of their planes called the 737 MAX because of a small safety problem (read: a mid-air panel blowout).

• Also, airlines in the U.S. are getting 32% fewer planes than they expected. This means some airlines are cutting back on flights.

• Since there aren't enough new planes, airlines are renting more from other companies, costing them 30% more than before the pandemic. Repair costs have also increased by 40% last year compared to 2019. This means they're making less money, even though more people are flying.

Way forward: Let’s pray that the plane makers quickly fix their production problems and find cheaper leasing options or else, we know who will be left to pick up the pieces of low-profits-by-airlines: the consumers’ wallets.

TLDR: The airline industry is in a tight spot this summer due to surging travel demand and a shortage of planes. Boeing and Airbus are struggling to keep up with production, worsened by safety issues like the 737 MAX problems at Boeing. This has led to U.S. airlines receiving 32% fewer planes than expected, forcing some to cut back on flights.

What else is new in news

✶ A recent report found that domestic violence in Louisiana cost more than $10 billion in 2022 (yep, you read that correct), highlighting the heavy burden of intimate partner violence against women in the state. The total cost includes expenses for medical care, lost earnings, criminal justice, and survivor support programs.

Local 🇵🇰

CCP wants to put a label on it

The Competition Commission of Pakistan (CCP) is feeling a bit protective of the cement: it now wants to put a label on it.

CCP wants to make buying cement safer and more transparent. They suggest some changes to how cement is labeled, like putting the date it was made and when it expires on the packaging.

The details:

• Cement can lose its strength over time, especially if it's been sitting around for a while. Not having dates on the packaging could mean people accidentally buy old cement, which might not work well for building.

• The CCP thinks Pakistan should follow global standards for labeling cement. This will make sure everyone knows what they're getting, whether they're buying cement in Pakistan or exporting it to other countries.

• If cement bags have clear dates, people can make better choices about what to buy. It also helps companies manage their stock better and makes sure customers trust the cement they're using.

Moving on: The CCP wants all cement companies to play fair by printing these dates on their bags. This helps consumers stay safe and makes sure companies compete fairly.

TLDR: The CCP aims to improve cement buying by advocating for clear labeling, including manufacturing and expiry dates. This ensures customers know what they're getting and helps companies manage stock better. By aligning with global standards, they promote fair competition and enhance consumer trust in cement quality.

News Flash

✶USAID launched a four-year project called the Pakistan Climate Financing Activity with up to $10 million to help Pakistan become more sustainable and resilient to climate change.

Tech

Global 🌎️

Dark wants to shoo away space pollution

Dark, a company based in Paris, is working on a clever solution for dealing with space debris and potential conflicts in orbit. Their goal is to act quickly and precisely, like a space "S.W.A.T. team."

The details:

• Dark is creating a spacecraft called Interceptor, which works like a gentle boxing glove in space. It can be launched fast from a special airplane and gently push away objects causing mess in orbit.

• Instead of long-planned missions, Dark's Interceptor is meant for quick, unexpected situations, much like air defense missiles. The founders' experience in missile development helps them design a system that's ready to act at any time.

• Dark has money and is working hard on building the necessary systems for Interceptor. They plan to test these systems in missions to prove they work and can be relied on.

Way forward: Dark plans to show off what Interceptor can do in 2026 and 2027. These missions will test its ability to get close to objects in space and eventually push them out of orbit (can they do the same to toxic people in our life?).

TLDR: Dark is creating Interceptor, a spacecraft to swiftly tackle space debris and conflicts. Launched from a specialized aircraft, it gently nudges problematic objects out of orbit. With funding secured, Dark is focused on testing Interceptor's systems for reliability.

What else is new in news

✶Nothing, the company known for its innovative electronics, has added ChatGPT to its new Ear and Ear (a) earbuds, letting users talk to an AI helper directly from their earbuds. This makes it easier to get help without using a phone.

Local 🇵🇰 

NayaPay doing Nayi things

NayaPay, a top fintech platform in Pakistan, has partnered with Alipay+ to let its users pay at Alipay+'s many merchants in China. This partnership is the first direct payment link between Pakistan and China, making transactions smoother for users and boosting trade ties.

The details:

• Ant Group, along with its partners, is setting up International Consumer Friendly Zones across China. This helps travelers by making mobile payments easier and supports local businesses.

• Now, NayaPay users can pay at over 80 million merchants in China through Alipay+. It's the first time a Pakistani platform is connected to Alipay+, making trade between the two countries easier.

• Ant Group offers two ways for travelers to pay in China: Alipay+, which lets them use their home e-wallets, and by linking major international bank cards like Visa, or Mastercard to an Alipay app, visitors gain access to a diverse range of local services without requiring a local bank account or phone number.

Way forward: Ant Group and its partners will also work on making mobile payments even easier for travelers in China, with bilingual support and better guidance for users and merchants.

TLDR: NayaPay, a leading fintech platform in Pakistan, partners with Alipay+ for users to pay at 80M+ merchants in China, marking the first direct payment link between Pakistan and China. Ant Group establishes International Consumer Friendly Zones in China, easing mobile payments for travelers. NayaPay users can pay in China via Alipay+ or link major international bank cards to an Alipay app.

Tech tour of news

✶ The Engineering Development Board (EDB) has issued 34 licenses to manufacturers of electric two- and three-wheelers under the Electric Vehicles Policy for 2020-2025, indicating a shift towards EV adoption in Pakistan.

More interesting Itla (اطلاع) we consumed:

🎙️ If you like standup comedy or comedy shows in general, Ramy Youssef’s new standup special ‘More Feelings’ should be on your radar. We can’t decide what was our favorite bit from the show: the part where he roasted Pakistanis, or him finding a way to convert Taylor Swift to Islam.