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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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JNA Awards 2015 Honours Industry's Brightest
Hong Kong: JNA Awards, one of the world’s most prestigious awards in the gemstone and jewellery sector, tonight celebrated and honoured enterprises and individuals whose ambitions have helped elevate the industry and inspired others to do the same. Leading off the brilliant assembly of awardees was Ou Yang Chiu Mei, recipient of JNA’s highest honour – the Lifetime Achievement Award.
Petra Diamonds FY2015 Revenue Down 10%
Johannesburg: Petra Diamonds reported double-figure percentage drops in both revenue and profits for the year to June 30 on the back of a weakened market and low prices. Revenue was down 10 percent from $471.8 million to $425 million. Adjusted net profit after tax was down 33 percent from $93.7 million to $62.8 million, according to a company statement. Chief
Russia’s 1H Rough Diamond Exports slide 16%
Moscow: Russia’s rough diamond exports fell 16 percent year on year to $2.13 billion in the first half of 2015, Itar-Tass reported citing the country’s Ministry of Finance. By volume, exports declined 10 percent to 17.83 million carats. Rough imports rose 70 percent to $46.5 million as volume more than tripled to 28,000 carats. Russia was the world’s largest diamond
KGK Diamonds Wins Court Battle in New York
New York: A New York Supreme Court judge ruled in favor of KGK Diamonds, awarding the Indian sightholder a judgment of $2.4 million plus interest against Madison Avenue Diamonds, the company behind the Ivanka Trump Fine Jewelry brand, for breach of contract, in a court battle that dragged on for nearly three years, reports JCKonline. Both parties had agreed to
A New Book on ‘Theft of Koh-i-Noor’ by Britain
Mumbai: A new children’s picture book relating the story of the Koh-i-Noor as one of theft and colonial conquest, has just been published in India. Supriya Kelkar, a US-based author and illustrator of Indian origin, tells how the world’s most famous diamond was “stolen” by the British East India Company after the defeat of the Sikh Empire in 1849 and presented to Britain’s
National Jewellery Awards 2025 Presented
Mumbai: The All India Gem & Jewellery Domestic Council (GJC) proudly hosted the 14th edition of the World Gold Council (WGC) Presents National Jewellery Awards (NJA’25), powered by IDT Gemological Laboratories Worldwide, at Jasmine Hall, Jio World Convention Centre, Mumbai, in conjunction with the India Gem & Jewellery Show (GJS). The evening was a dazzling celebration of India’s finest jewellery
Rio Tinto Launches its Final Beyond Rare Tender
Mumbai: Rio Tinto has launched its final Beyond Rare TM Tender, the third in its annual Art Series, featuring 52 lots of extraordinarily rare masterpieces of nature, from its Canadian and Australian diamond mines. Titled Into the Light, this unique event marks a special chapter in world diamond history. With Rio Tinto’s Australian Argyle Diamond Mine ceasing operations in November
JGW Hong Kong Honours Sustainability Champions
Hong Kong: The Winners and Finalists of the Sustainability Awards 2025 by JWA (Jewellery World Awards) were celebrated at a Recognition Ceremony hosted last night by the industry’s No.1 jewellery sourcing destination – Jewellery & Gem WORLD Hong Kong (JGW). Powered by Informa Markets Jewellery, the Awards programme recognises exceptional sustainability initiatives within the fine jewellery, gemstone and related sectors.
