We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
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SA to Boost Black Involvement in Diamond Sector
Johannesburg: A new South African association has been launched to increase the involvement of young, mainly black entrepreneurs in processing and manufacturing rough diamonds. The South African Young Diamond Beneficiators’ Guild, which was launched at the recently held first South African Diamond Indaba, aims to help start-ups led by mainly black entrepreneurs to cut and polish diamonds. The creation of
Two in Custody over GIA Report Hacking
Mumbai: The GIA has announced that two former employees of Tata Consultancy Services (TCS) are in custody in connection with the alteration of 1,042 of the lab’s grading reports. The police informed GIA that the investigation has reached a point where it may now publish the client accounts that submitted the diamonds in question. A list of the invalidated reports
GJEPC and BDB Host Delegation from Botswana
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC) and the Bharat Diamond Bourse (BDB) hosted a delegation from Botswana, led by its Vice President, HE Mokgweetsi Eric Keabetswe Masisi on October 26th 2015, at the Bourse Complex in Mumbai. At the meeting, attending by representatives of some of the largest member companies of the two organizations, Praveenshankar Pandya, Chairman
IIMA’s IGPC to Present Whitepaper on GMS
Mumbai: Indian Institute of Management Ahmedabad’s (IIMA) India Gold Policy Centre (IGPC) conducted a workshop today, involving key stakeholders to seek their opinions on gold monetization in India. Their opinions will be presented as a whitepaper to the Government of India as an on-ground feedback on the two schemes on gold monetization approved by the Union Cabinet last month. It
Artisan Awards Receives 800 Artworks
Mumbai: An afternoon filled with awe and excitement, the Gem and Jewellery Export Promotion Council of India (GJEPC), hosted the first round of screening for the Artisan Awards 2014. The eminent jury panel selected a total of 40 sketches from 800 entries, narrowing down the best in design, ingeniously bringing alive the movie eras through jewellery. Sanjiv Banerjee, Mamta Rajaram,
Surat to Have India's First Diamond SEZ Soon
Surat: The State of Gujarat in India is now proposing to set up a SEZ (Special Economic Zone) exclusively for diamonds in Surat, possibly the first of its kind in India. According to Gujarat’s Finance Minister Saurabh Patel, the SEZ will be set up in a month or two, as reported in Economic Times. The state government is keen that
India, China Sign MoU on Gem Trade
Jaipur: The gemstone councils of China and India recently signed a memorandum of understanding (MoU) to help facilitate seamless jewellery trade between the two countries, the Times of India reported. The MoU was inked between India’s Gems and Jewellery Export Promotion Council (GJEPC) and China Gems Centre (CGC) on the sidelines of the Jewellers Association Show in Jaipur. Panyu City Vice
International Diamond Week Postponed
Ramat Gan: The Israel Diamond Exchange announced today it is postponing the summer edition of the Israel Diamond Week, originally scheduled for September 1-4. The exchange quoted the continuing tensions in the region as the chief reason for the postponement. In a statement IDE President Shmuel Schnitzer said that “in view of the recent events in our region, the board
