Jhaishankar held a meeting with Marco Rubio during the ASEAN in Manila. The topics discussed concerned trade, tariffs, and partnership in critical minerals.
According to the American side's report, the parties agreed on the importance of finalizing an interim trade deal that is 'nearly complete'. Furthermore, they discussed finalizing key defense agreements to fulfill commitments previously made by President Donald Trump and Prime Minister Narendra Modi.
Marco Rubio stated on social media platform X that 'relations with India are vital'. According to the US Ambassador to India, Rubio may visit the country this year. Jhaishankar noted that the meeting focused on the priority areas of the Indo-American comprehensive global strategic partnership.
During the meeting with his Russian counterpart Sergey Lavrov, Jhaishankar once again expressed India's serious concerns regarding the safety of Indian seafarers. In addition, the parties also discussed issues of trade, energy, and science.
The Pakistani government has significantly increased the prices of gasoline and diesel fuel amid the ongoing conflict between the US and Iran, as well as rising global crude oil prices.
According to the new notification, the cost of gasoline increased by 6.39 rupees, and the price of high-speed diesel (HSD) rose by 7.83 rupees per liter. The official announcement released by the petroleum products department indicates that the new increased rates came into effect nationwide on Thursday, July 23.
Following the price adjustment, the new fuel rates are as follows: gasoline now costs 327.12 rupees per liter (an increase of 6.39 rupees over old prices), and high-speed diesel (HSD) reached 375.04 rupees per liter (an increase of 7.83 rupees).
Given the rapidly changing international market prices, Pakistan's Minister of Petroleum Products, Ali Parvez Malik, made an important decision: prices for gasoline and diesel fuel in the country will now be set daily. This responsibility has been transferred to the regulating body for oil and gas.
When people think of Dubai, they often recall skyscrapers, expensive cars, and the gleam of gold. However, Dubai also has a market that offers not only gold necklaces, rings, and bracelets but also unique gold items such as hijabs, masks, belts, and bags. This is why tourists from all over the world specifically visit this market.
This famous market is called Dubai Gold Souk and is located in the Deira district of Dubai. It is considered one of the largest and most renowned gold markets in the world. Thousands of people arrive here daily to shop and admire magnificent gold collections. Many visitors come just to look around, as the splendor of this market rivals an exhibition.
'Souk' is an Arabic word meaning 'traditional market'. Dubai Gold Souk houses over 300 jewelry shops. These range from small family stalls to large, globally recognized brands. In the windows of almost every shop, the gold shines so brightly that at first glance, it seems as if the entire market is covered in gold.
If you assume that gold is used exclusively for creating jewelry, this market will change your perspective. Here, you can see many gold items you may never have heard of. Gold hijabs, masks, belts, bags, shoes, crowns, trophies, decorative items, and custom-made designer pieces are sold. Many of these items are not intended for daily use but for display, fashion shows, royal events, or record-setting. It is precisely because of such exhibits that a large number of tourists visit this market.
In Dubai Gold Souk, it is easy to find gold of various purities: 18 karat (18K), 21 karat (21K), 22 karat (22K), and 24 karat (24K). 18K gold is known for its durability and is often used in jewelry design. 22K gold is the most popular among Indian buyers. 24K gold is considered the purest and is most often used for making gold bars, coins, and investment purposes. This attracts not only tourists but also investors.
Dubai Gold Souk is very popular among Indian tourists. The main reason for its popularity is the ease with which one can find Indian-style jewelry here. Heavy necklaces, mangsutras, bangles, earrings, anklets, and traditional wedding sets are available. Furthermore, there are many options for those who prefer modern and light designs.
The market hosts boutiques of many international and local jewelry brands, such as Malabar Gold & Diamonds, Kanz Jewels, Damas, and Joyalukkas. In addition to these, hundreds of traditional shops offer jewelry with various designs and prices. The government exercises strict supervision over the quality of gold sold in Dubai. There are established rules regarding the purity and quality of each item. If a seller provides false information or fails to meet established standards, action can be taken against them. It is thanks to this that global buyers trust Dubai's gold.
A feature of Dubai Gold Souk is the possibility of bargaining in many shops. Although the price of gold is usually determined by the international exchange rate of the day, the cost of workmanship (making charge) can often be negotiated. By comparing prices in different shops, one can find a more favorable deal. Millions of tourists visiting Dubai make sure to stop by the Gold Souk during their trip. Some make purchases, while many simply come to see the magnificent designs and unique collections. The market's lighting, decorated shops, and the gold visible everywhere make it one of the most popular tourist spots in Dubai.
Dubai Gold Souk is not just a place to shop; it is a unique center of gold art, design, and craftsmanship. It presents a magnificent blend of traditional Arab culture, Indian design, modern fashion, and luxury. This is why, when speaking of the world's most famous gold markets, Dubai Gold Souk is mentioned first. If you ever visit Dubai, be sure to stroll through this market. You will see gold items that might astound you.
IBM released its financial results for the second quarter of 2026 on Wednesday (22). The figures presented indicated a challenging, though not catastrophic, period, with total revenue reaching US$ 17.2 billion (equivalent to R$ 87.2 billion).
Gross profit reached US$ 9.9 billion (R$ 50.2 billion), maintaining margins near 58%, and net income was US$ 2.2 billion (R$ 11.1 billion). However, these results fell short of Wall Street expectations.
Due to the negative nature of the performance, CEO Arvind Krishna and the company's board adopted an unprecedented measure by alerting investors in advance. Krishna had published an open letter the previous week, signaling that the recorded performance was below expectations.
In response, IBM shares suffered a 25% devaluation the following day, marking the largest single-day drop in corporate history. Previously, the shares had appreciated over six years under Krishna's leadership, driven by the growth of the artificial intelligence (AI) data center sector.
Additionally, on Wednesday, IBM revised its full-year growth forecasts downward, indicating that the impact of the weak quarter will extend into the coming months. The infrastructure segment was the main factor in this contraction, recording a 42% drop in mainframe sales.
CFO Jim Kavanaugh clarified that there is a chain effect in this scenario: IBM earns US$ 3 (R$ 15.21) in software revenue for every US$ 1 (R$ 5.07) sold in mainframe hardware.
Krishna detailed that about 'dozens' of customers who planned to acquire a new mainframe in the quarter opted to postpone the purchase. Considering that mainframes represent investments ranging from hundreds of thousands to millions of dollars, plus maintenance and software contracts generating additional millions, the loss of each customer is highly significant.
These customers reallocated their budgets to other types of hardware equipment. This shift occurred due to price increases ranging between 15% and 30% in data center equipment and PCs, a phenomenon attributed to the peak of AI infrastructure. Krishna observed that when confronting this issue, customers decided to direct capital to areas where they faced this extreme increase in cost.
Manufacturers such as Dell and HP had already issued warnings about increased costs in components, such as memory, motivated by the same boom. Apple also announced similar price adjustments.
Both Krishna and Kavanaugh assured during the investor conference call that the current situation is transitory. The CEO guaranteed that these customers will eventually make the purchase of their new mainframes, including software contracts, and mentioned that some have already made such acquisitions in the current quarter. Krishna emphasized: 'We see no evidence of customers migrating away from the mainframe.'
Although the technology industry has predicted the end of the mainframe for decades, the confirmation of Krishna's prediction will depend on future quarterly results.
