NASA discovers a new 'super Earth'

Morning! It's Election Day 🗳️, which can only mean one thing: your social media feed is about to get bombarded with more thumbs than you've seen in the last four years combined. We hope you all got your manicures done in time.. 💅🏼

In this week’s edition:

🏭 ‘Made in China’ popularity is in danger

💪 Elections are powering up the energy sector

🌍 Earth got a new competitor

🚨 TikTok aka false election info police

- The Itla Squad 💼

Business

Global 🌎️

Made in China Mexico

Mexico has become the top source of goods imported into the United States, beating China for the first time in over 20 years. This change shows that the U.S. prefers trading with Mexico amid tensions with China.

What’s up: 

• In 2023, the U.S. imported over $475 billion worth of goods from Mexico, up almost 5%. Meanwhile, imports from China fell by 20% to $427 billion. This is the first time since 2002 that Mexico has sold more to the U.S. than China.

• The relationship between the U.S. and China has worsened due to trade disagreements and military tensions.

• The U.S. started imposing taxes on Chinese imports in 2018, which President Biden continued. To reduce reliance on China, the U.S. is encouraging companies to make goods in other countries or at home.

• The Biden administration's push for manufacturing in allied countries has helped Mexico. However, some Chinese companies have moved their factories to Mexico under a trade agreement.

TLDR: Mexico has overtaken China as the top importer to the United States for the first time in over 20 years. This shift reflects strained U.S.-China relations and efforts to diversify trade sources. While U.S. imports from Mexico surged by almost 5% to over $475 billion in 2023, imports from China fell by 20% to $427 billion.

What else is new in news

✶The results are in: boycotts work. Both McDonald’s and Starbucks, two major U.S. restaurant chains, reported decreased sales due to Israel’s genocide in Palestine, impacting their fourth-quarter revenue. McDonald's experienced a nearly 4% drop in shares after citing a slowdown in the Middle East, while Starbucks' stock declined about 2% following reports of reduced U.S. sales during the final three months of the year.

Local 🇵🇰

Elections power up the energy sector

On Tuesday, the Pakistan Stock Exchange saw a big increase in stock prices, especially in the energy sector. The main stock index, called the KSE-100, went up by almost 800 points.

Why the increase?

• Experts believe the rise happened because of positive news about the energy sector’s debts and because people were buying stocks before the upcoming elections.

• One big reason for the stock increase is the hope that the government will solve the debts in the energy sector. This could lead to more stability and growth in the market.

• Even though there's uncertainty before the elections, experts are still hopeful about the future of the stock market in the long run.

• When the government talked about solving the debt problem with the International Monetary Fund (IMF), investors reacted positively, especially in energy-related companies.

Moving on: People expect the market to keep doing well after the elections. Investors are being careful, especially with certain companies, because they're worried about how the government will handle the debt issue.

TLDR: The Pakistan Stock Exchange saw a major boost in stock prices, especially in energy, with the KSE-100 index soaring nearly 800 points. Investors are optimistic about resolving energy sector debts and pre-election stock purchases. Positive responses to government discussions with the IMF further fueled confidence, though caution remains regarding companies affected by debt management strategies.

News Flash

✶If you come across fresh-looking currency notes soon, don't be surprised. The State Bank is in the process of printing new currency notes. This routine issuance occurs every 15 to 20 years to uphold the currency's integrity, as clarified by the State Bank.

Tech

Global 🌎️

Meet TOI-715 b: Earth’s new competitor

Looks like Bradley Cooper and Lady Gaga were onto something: a star is born. NASA’s astronomers are excited about a newly discovered "super-Earth" that may have conditions suitable for life.

The details:

• This newfound planet orbits a small, red star relatively close to Earth, about 137 light-years away. It sits in the habitable zone, a region where water could exist in liquid form, a critical ingredient for life.

• Imagine the habitable zone as a cosmic sweet spot—neither too hot nor too cold, just perfect for water to flow. TOI-715 b's location hints at the possibility of such conditions.

• One remarkable feature of TOI-715 b is its close orbit around a smaller, cooler star which means it completes a year in just 19 Earth days, making it easier to observe and study.

Zoming out: Astronomers hope to use the Webb telescope to learn more about TOI-715 b's potential to support life. It also means humans were maybe right to believe in the possibility of life beyond our own solar system.

TLDR: NASA's announced a potential "super-Earth" close to Earth that could support life. It orbits a small, nearby star in what scientists call the habitable zone— sweet spot for liquid water. This discovery fuels our hopes for finding habitable planets and sheds light on the possibility of life beyond our solar system.

What else is new in news

✶Meta revealed on Tuesday its plan to add labels to Facebook, Instagram, and Threads posts featuring images flagged as AI-generated by the company.

Local 🇵🇰 

TikTok on the clock for wrong election info

TikTok is stepping up its efforts to fight misinformation and keep the election fair.

What’s up:

• TikTok has joined forces with Agence France-Presse (AFP), a big fact-checking group, to tackle misinformation about the Pakistani election.

• TikTok is also teaming up with local groups in Pakistan. These groups help spot and fix false info, making sure TikTok stays honest.

• TikTok has added a special spot called the Pakistan Election Center. It's in English and Urdu and helps users find the right info about voting.

• TikTok wants users to know how to spot fake news. They're putting up guides and teaching stuff in the app to help users know what's true and what's not.

TLDR: TikTok is teaming up with Agence France-Presse (AFP) and local organizations in Pakistan to tackle misinformation surrounding the upcoming election. They've launched the Pakistan Election Center on the app, offering voting information in English and Urdu, and are providing educational resources to help users spot fake news.

Tech tour of news

✶The Pakistan Telecommunication Authority (PTA) has confirmed that the internet will be working as usual on election day, February 8. This dispels any rumors about planned disruptions. If you got this newsletter, it means it’s true 🤷‍♂️

More interesting Itla (اطلاع) we consumed:

⚙️ If you want to understand the ins and outs of voting in Pakistan's upcoming elections, this article is for you. It offers a clear breakdown of how the elections will be conducted, including voting procedures, seat allocations, and the roles of different governmental bodies.