We Wish to Build Globally Relevant SKY Gold: Akash Talesara
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Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Top News
Stricter Bank Norms Now for Indian G&J Industry
Mumbai: Banks are tightening financing norms for the gems and jewellery industry after being forced to write off loans of more than Rs 10,000 crore, reports The Economic Times. Domestic lenders are tying up with global banks such as ABN Amro Bank and KBC Group NV to get information on their clients’ businesses overseas. Banks that do not have partnerships
HK Firm Defaults on Rs 350cr Payment
Mumbai: A diamond jewellery firm in Hong Kong and Bangkok has gone bankrupt and defaulted on payment to the tune of Rs 350 crore to diamantaires in Surat and Mumbai, reports The Times Of India. The poor financial condition of two other firms in Bangkok has added to the worries of these diamantaires, who were hoping to reap huge profits
DDE to Host Diamond Finance Seminar Series
Dubai: he Dubai Diamond Exchange (DDE) has announced the launch of its Dubai Diamond Finance Seminar Series, which are designed to educate participants about Dubai’s diamond financing options. The inaugural Dubai Diamond Finance Seminar will take place on October 25. Davy Blommaert, unit head precious metals and diamonds at National Bank of Fujairah, and Peter Meeus, executive chairman of the
Gemfields Profit Drops Despite Rising Revenue
London: Gemfields, which provides ethically-sourced rare-coloured gemstones, posted a drop in pre-tax profit in the full year as costs rose and the margin was squeezed, even as revenue and production grew, reports Digital Look. For the year ended 30 June 2015, pre-tax profit came in at $12.3m from $16.3 last year, as selling, general and administrative expenses rose to $55.3m
Gold, Diamond Deposits Traced in Odisha
Bhubaneswar: Geological survey has revealed deposits of a variety of gem stones, gold and diamond in Boudh district in India’s Odisha state, Steel and Mines minister Prafulla Kumar Mallick informed in the State Assembly here on Friday, according to a report published in Odisha Sun Times. Replying to a question by Mahidhara Rana, he said as informed by the Steel
Diamonds worth Crores Stuck in US Labs
Mumbai: An unprecedented delay by US-based Gemological Institute of America (GIA) in certifying of polished diamonds is worrying diamantaires in Surat and Mumbai, who are now facing liquidity problems due to shortage of gems to sell in the market, reports The Times of India. The diamond sized below one carat (the most popular category) that are sent to Carlsbard and
GIA Team Uncovers Gemstone Treasures in Brazil
Brasilia: Field researchers from the Gemological Institute of America (GIA) journeyed to gemstone mining areas in Brazil from March 31 to April 17 this year, gathering information on the current state of coloured stone mines in the region. Focusing specifically on emerald and tourmaline, the research team had the opportunity to visited Minas Gerais, Rio Grande do Norte and Paraiba
GJEPC Welcomes Export Promotion Mission, SEZ Revival
Mumbai:Announcing the reforms and budget for 2014-15, the Finance Minister, Mr. Arun Jaitley has maintained the populist front, announcing various small measures and state level schemes however none of them promise any major impact on the gem & jewelry sector, the Gem & Jewellery Export Promotion Council (GJEPC) has said in an official statement. “The industry is happy that our
