Pakistan leads as the primary borrower of the World Bank in 2023

Morning! Sanitizing groceries was once a norm, but thanks to Katalin and Drew, it's now a distant memory 😷🦠. These two scientists whose research led to the development of mRNA COVID-19 vaccines were awarded the Nobel Prize in medicine on Monday 🏆

Katalin Karikó and Drew Weissman were recognized “for their discoveries concerning nucleoside base modifications that enabled the development of effective mRNA vaccines against COVID-19,” the Nobel Prize committee announced in a press release.

In this week’s edition:

🩺 Hello, TV! Bye, Dr.!

😬 1st position

🤖 Double standards of Getty

📲 Right raasta with Raasta

- The Itla Squad 💼

Business

Global 🌎️

Your favorite shows are coming back but not your doctor

In the US, the healthcare system might soon be on life support.

The healthcare industry is on the brink of the largest strike in U.S. history, with over 75,000 Kaiser Permanente employees preparing for a three-day strike across multiple states due to pay, staffing, and outsourcing issues. This comes after the US grappled with multiple strikes, including Hollywood’s writers’ strike. calling 2023’s summer the ‘summer of strikes’.

What’s up? The strike, set to commence on Wednesday, reflects a broader trend of labor actions in the U.S., where unions are asserting their rights amidst surging inflation and post-pandemic labor shortages. Some key points are:

• A coalition of unions representing Kaiser workers has notified the company of their intention to initiate a three-day strike in states such as California, Oregon, Colorado, Virginia, Washington, D.C., and more.

• It's more than just missing out on an early launch of ‘The Last of Us’ Season 2– this strike might have a bigger (scary) impact on everyone’s lives. Think of longer wait times, fewer services, and overall chaos in healthcare. It's not just about the nurses or doctors; it will also include janitors and technicians who keep things running.

• So, what's on their wish list? They have demanded the hiring of at least 10,000 new employees by the end of 2023, substantial pay raises, and a minimum wage standard across the company, aiming to create a more stable and fair work environment.

What's Kaiser saying about all this? The company acknowledges the staffing challenges faced by the entire healthcare industry, citing the mass exodus of healthcare workers during the Great Resignation of 2021-22. Despite the difficulties, Kaiser Permanente has expressed hopes of averting the crisis through continued negotiations.

Big picture: This Kaiser situation is not just a local problem; it's a national issue. The shortage of healthcare workers is a massive problem in the US, and this strike is a symptom of a much deeper issue that requires major structural change across the country and it seems like the US might have to deal with it sooner than later.

TLDR: Over 75,000 Kaiser Permanente employees plan a historic three-day strike across states due to pay and staffing issues. The strike highlights broader U.S. labor concerns. Possible fallout includes longer wait times and reduced services, impacting both patients and staff. Workers demand significant changes, underscoring nationwide healthcare staffing challenges.

What else is new in news

✶ The Bank of England has halted its series of interest rate hikes, maintaining rates at the current level for the first time since December 2021. This choice was made in response to a surprising slowdown in inflation,

Local 🇵🇰

The not-so-prideful first position

Pakistan emerged as the top World Bank borrower, securing $2.3 billion from the World Bank's International Development Association (IDA) in 2023, as noted in the report named "World Bank Annual Report 2023: A New Era in Development".

Key takeaways:

• During the year, the World Bank allocated $1.7 billion for vital projects in flood-hit Sindh, enhancing housing, healthcare, and disaster response. Punjab, too, received a $200 million boost for climate-smart agriculture, empowering farmers and ensuring sustainable farming practices.

• For South Asia, economic uncertainties were not the only enemy, climate change also was. The focus shifted to climate-smart solutions, especially for vulnerable communities, emphasizing the urgency for sustainable practices and disaster preparedness.

• Globally, the World Bank stepped up with 322 operations across 90+ countries, allocating a total of $72.8 billion in 2023. Notably, a record $29.4 billion was spent for climate finance.

TLDR: In 2023, Pakistan secured $2.3 billion from the World Bank's International Development Association (IDA), leading global borrowing. The funds supported vital projects in flood-hit Sindh and climate-smart agriculture in Punjab. The World Bank's focus on climate resilience included a record $29.4 billion for climate finance.

News Flash

✶On Saturday, the Federal Board of Revenue (FBR) announced the extension of the deadline for filing income tax returns for Tax Year 2023 to October 31, 2023.

Tech

Global 🌎️

Getty @ everyone: Don’t mess with art! (unless we are doing it)

Earlier this year, Getty Images sued Stability AI over the alleged misuse of Getty's photos in training Stability’s AI tool. Fast forward to today, Getty is introducing its own AI photo-generation tool, Generative AI by Getty Images, in collaboration with Nvidia.

How it works: This cutting-edge tool lets users craft unique images, tapping into Getty’s vast library of licensed photos. Generative AI by Getty Images works its magic by transforming text prompts, like "photo of a sandy tropical island filled with palm trees," into vivid images. It's been meticulously trained on a vast portion of Getty's expansive library, totaling around 477 million assets.

Keeping everyone happy: Getty Images is keeping things above board. Every image created comes with a watermark, clearly indicating its AI origins. Moreover, contributors whose content contributes to the AI model will receive mo-neyyy 🤑. Revenues generated from the tool will also be shared, so it won’t make artists angry.

Coming soon: Getty’s planning to let users inject their own ideas, enabling personalized and brand-consistent image generation at your fingertips.

TLDR: Getty Images unveiled Generative AI, a tool created with Nvidia, generating images from text prompts. With 477 million assets, users can create unique visuals, and contributors are compensated. Watermarked for authenticity, the tool promotes creativity while protecting artists' rights. Personalized image generation feature coming soon.

What else is new in news

✶Google is letting teens between 13-17 years old in the U.S. use its AI-powered search, SGE (Search Generative Experience). This feature is available through the Google app or Chrome desktop when logged into their Google account.

Local 🇵🇰 

On the right raasta with Raast

The State Bank of Pakistan (SBP) has introduced an innovative online payment solution, the Person-to-Merchant (P2M) payment system. This new system lets customers make instant payments to merchants via their mobile phones, using either their RAAST ID or their International Bank Account Number (IBAN).

Key points: Raast, which hosts P2M, is already a hit with 32 million account holders using it, and handled around 225 million transactions, totaling Rs. 4.6 trillion. About P2M:

• Launched on September 3, the P2M system has quickly gained momentum with six big players like Bank Alfalah, MCB Bank, Allied Bank, JS Bank, Easypaisa, and 1Link already on board.

• P2M payments are facilitated through QR codes with customers scanning the merchant's QR code using their smartphones, initiating seamless payment processes. This approach particularly helps in financial inclusivity among the unbanked population.

P2M vs. Card Payments: Card payments require you to swipe, insert, or tap your card on a reader and demand physical cards and often involve additional steps like entering a PIN or signing a receipt. P2M payments, however, simplify things drastically – just scan the merchant's QR code with your smartphone, confirm, and you're done.

TLDR: Pakistan's State Bank has introduced P2M, a seamless online payment system within the Raast platform. Customers can now make instant payments to merchants via QR codes using their smartphones, fostering financial inclusivity. Unlike card payments, P2M simplifies the process, eliminating physical cards and complex steps. Launched on September 3, the system has quickly gained traction with major banks and institutions participating.

Tech tour of news

✶Pakistan and Saudi Arabia have sealed the deal on a tech-friendly partnership as the countries are set to collaborate in the IT sector. The recent MoU is set to open doors for Pakistani companies in Saudi Arabia, offering them opportunities to provide skilled IT professionals and explore joint ventures.

More interesting Itla (اطلاع) we consumed:

🎥 In this video by Vanity Fair, screenwriter Emily Carmichael was given the challenge of writing a scene on camera within 7 minutes. It was really cool getting into the mind of a screenwriter. With only seven minutes for the first draft, followed by five minutes for the second version, and three minutes for the final draft, it became very clear why they do the job that they do..