PSX surges to 6-year high at 49,324.50 points, matching June 2017 levels

Morning! You know it’s bad in the WFH world when even Zoom is calling its employees to the office 😬 The videoconferencing software company informs workers within 50 miles to come in twice weekly. So, if you're blending pajama bottoms with business up top, a wardrobe rethink might be due.

In this week’s edition:

🎁 One more prey to COVID-19

📈 84 years = 6 years

🖼️ More than just links

📲 One true love mobile network

- The Itla Squad 💼

Business

Global 🌎️

Customer is king? Well, not anymore

While Beyonce is stingy with her love, companies are being stingy with their rewards and perks.

What’s up? As the pandemic shook up the business world, companies are rethinking their game plans to win you over. Airlines are making elite status a tougher nut to crack. Meanwhile, your favorite stores are dialing back the birthday bashes and discounts, navigating a fine line between keeping you happy and their budgets in check.

Why the distance? In the retail sector, companies are facing challenges due to inflation and changing consumer behavior. So, what do the companies do? They look at their expenses and start cutting back on rewards. They wanna impress investors, but it's the customers, who get the short end of the stick.

The other POV: Companies walk a tightrope between offering attractive rewards and controlling costs. If they get too stingy with the rewards, they risk losing loyal customers. But if they're too generous, it's gonna hit their bottom line hard.

Future of customer love: Experts say there's gonna be more changes down the road. With living costs skyrocketing and competition getting fierce, companies are gonna be rethinking their reward game. Some retailers may offer improved birthday rewards to entice customers to spend on non-essential items.

TLDR: Companies are cutting back rewards and perks post-pandemic to balance costs and customer satisfaction. Airlines and stores are rethinking elite status and discounts. Future changes could involve improved birthday rewards amid rising living costs and competition..

What else is new in news

✶Warner Bros. Discovery will introduce a sports tier on Max streaming service during MLB playoffs, featuring NBA, NHL, and NCAA games. The tier, named after Bleacher Report, targets a younger audience wanting digital sports content.

Local 🇵🇰

PSX: It’s been 84 years 6 years

The Pakistan Stock Exchange (PSX) experienced a significant surge, with its benchmark index reaching 49,324.50 points, the highest since June 2017 (that was six years ago!).

What’s driving the bullish momentum? Several factors:

• State Bank of Pakistan's (SBP) decision to maintain the policy rate and positive investor sentiment.

• Additionally, financial support from Saudi Arabia and the UAE, with deposits totaling $3 billion, further strengthened the positive sentiment in the market.

• Recent developments in various sectors, such as the minerals summit attended by Arab investors, have also contributed to the bullish sentiment.

• Improvement in key economic indicators, including falling Consumer Price Index (CPI) inflation and a trade deficit for July 2023, has bolstered investor confidence.

• And… obviously our sugar daddy IMF. The recent staff-level agreement with IMF for a $3 billion Standby Agreement played a significant role in boosting investor confidence.

It's not all smooth sailing: While the stock market is experiencing positive trends, the Pakistani rupee continues to have a tough time against the US dollar. The interbank market saw a 0.64% decline, with the rupee closing at Rs289.38 against the dollar on Wednesday.

TLDR: The Pakistan Stock Exchange surged to its highest level since 2017 at 49,324.50 points. Positive factors driving the bullish trend include investor sentiment, support from Saudi Arabia and the UAE, and improved economic indicators. However, the Pakistani rupee faces challenges against the US dollar.

News Flash

✶The newest census data reveals that in 2023, the country's population surged to 241.49 million, showing a significant increase of approximately 33.8 million people compared to the 2017 census and about 110 million more compared to the 1998 census.

Tech

Global 🌎️

Google’s search to get a visual boost

Forget the old days when Google was all about finding good links for you. Now, with Search Generative Experience (SGE), Google's stepping up its game. It's not just about giving you answers; it's about serving up relevant, helpful information with style.

More than just links: Soon, we will be getting a more exciting search experience with colorful visuals right at the top of our search results - with the addition of images and videos.

Speeding things up: Google knows speed matters, and it's working hard to make SGE lightning fast. It is also aiming to provide a comprehensive overview of search topics using AI-powered summaries.

Context is key: To make sure you're always in the loop, Google's not only showing you images and videos but also adding publish dates to the links. That way, you'll know how recent the info is.

The future of Google search is here (and it looks awesome): With images, videos, and speedy results, Google is aiming to give a visual feast of information. According to CEO Sundar Pichai, “ [SGE] allows us to think outside the box …over time, this will just be how search works.”

TLDR: Google's Search Generative Experience (SGE) is revolutionizing the search game. Say goodbye to plain links and hello to a vibrant search experience with images and videos. Speed is a priority, and AI-powered summaries will give you a comprehensive overview of search topics.

What else is new in news

✶Samsung and Apple brace for potential impact as India takes a decisive step to limit PC and tablet imports in support of its domestic manufacturing efforts.

Local 🇵🇰 

OpenSignal is signaling to one true mobile network..

OpenSignal, a leading analytics company, has just released its latest report on Pakistan's mobile network experience during Q2 2023 (April to June). Among the standout performers is Zong, the mobile operator that has excelled across various key metrics.

Some key points in the report are:

• Video, Games, and Voice App Experience: Zong excels in on-demand video streaming, multiplayer mobile games, and voice apps, scoring 48.8, 48.5, and 70.2 points out of 100, respectively.

• Most Consistent Experience: Zong leads in consistent quality, with 36.9% of tests supporting demanding mobile apps, surpassing Ufone at 35.1%.

• Top Live Video Experience: If you love to watch sports live matches, it may be a good idea to go for Jazz and Zong. Both operators score statistically tied at 39.3-39.5 points (out of 100).

• Fastest Download Speeds: Zong users enjoy the fastest average download speeds in Pakistan, with an average speed of 17.2Mbps.

• 4G Availability: If you're all about staying connected in the fast lane, Jazz is your go-to option. It leads with 90.2% connectivity, while Zong takes the lead in overall Availability (3G or better) at 95.6%.

TLDR: OpenSignal's Q2 2023 report ranks Zong as a top performer in video, gaming, and voice app experiences. Zong offers consistent quality and the fastest download speeds. Jazz and Zong excel in live video experiences, while Jazz leads in 4G availability, and Zong in overall network availability.

Tech tour of news

✶In case you didn’t notice, a YouTube Premium advertising pop-up greeted you when you opened the YouTube app since Wednesday. YouTube has launched premium and music services in Pakistan, providing ad-free videos, offline downloads, and uninterrupted music. For Rs479, you get YouTube Premium with YouTube Music. Just want music? Choose YouTube Music Premium for Rs299.

More interesting Itla (اطلاع) we consumed:

💰 Reading this article was like having a friendly chat with someone who is here to guide you through finding peace amidst the financial complexities of your 20s. Our favorite bit from the article was: "What you don’t want to do is subject life’s toll-ridden emotional roller coaster to the tyranny of the 'shoulds'—especially at the expense of your wallet and mental health. 'I should own a home by now.' ... 'I should be able to send my kids to college without debt'." If you're curious about financial psychology, you've got to give it a read.

🏘️ We didn’t think it was possible for a massive house to feel warm and cozy - until we saw John Legend and Chrissy Teigen’s Architectural Digest house tour. Stuff of dreams 😍