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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CAR Warlords Use Diamonds to Fund Conflict
Washington: According to a report released by The Enough Project, a Washington, DC-based organization that works to end genocide and crimes against humanity, the total current value of the illicit diamond trade and taxation by armed groups in the Central Africa Republic (CAR) is estimated to be between $3.87 and $5.8 million dollars annually. Warlord Business reveals that although CAR
India to Issue Sovereign Gold Bonds
New Delhi: Government of India proposes to issue gold bonds with a sovereign guarantee to divert investment demand for physical gold to a financial instrument, reports Business Standard. This will give more returns than gold as interest will also be factored in. In a draft outline of the scheme, the government said it expects around Rs.13,500 crore to be invested
IDMA Welcomes Creation of DPA by Producers
Tel Aviv: The IDMA members attending the 2015 Presidents’ Meeting welcomed the recently announced decision of the world’s leading diamond producers to establish the Diamond Producers Association (DPA), an organization committed to, among other matters, “maintaining and enhancing consumer demand for and confidence in diamonds including joint category marketing initiatives. IDMA President Maxim Shkadov and Secretary General Ronnie VanderLinden both
Israel is The Best Place to Do Business in Diamonds
Ramat Gan: The Israel Diamond Exchange (IsDE) announced that registration to the Summer Edition of the International Diamond Week in Israel (IDWI) (August 31 – September 4, 2015) is now open. Registered – and confirmed – buyers will be offered three free nights in the IDWI venue hotel. “Once again, we are determined to prolong the success of this fabulous
India's Silver Demand Down by 75%
Mumbai: The demand for Silver in India has fallen rapidly since the start of the current fiscal year, said Indian Bullion and Jewellers Association (IBJA) in its latest report. The association cites scarce monsoon and buoyant stock markets as the key factors that led to the sudden drop in demand for Silver in the country, reports metal.com. The country’s silver
Grib Diamonds NV to Auction First Production in Antwerp
Antwerp: Grib Diamonds NV, a 100% owned subsidiary of OAO LUKOIL, announced that on September 23, 2014, it will hold a first auction of rough diamonds from the diamond mine named after V. Grib in Arkhangelsk region (Russian Federation), according to a press release issued by the Company. Grib Diamonds will hold diamond viewings from September 15, 2014, in Antwerp,
Air India Conducts Survey in Surat
Surat: The Air India (AI) has started a fresh survey to assess passenger traffic potential from Surat towards Mumbai, Delhi and Bangalore, reports The Times Of India. A team of AI officials led by general manager Mukesh Bhatia was in the city to meet members of trade and commerce, Surat Diamond Association (SDA), Southern Gujarat Chamber of Commerce and Industry
Zimbabwe Eyes Domestic Diamond Exchange
Harare: Government will auction local diamonds once or twice in Antwerp, Belgium, before testing waters on its own planned domestic exchange in November this year. Mines and Mining Development Minister Walter Chidhakwa said in an interview that Government was working on modalities of the domestic diamond exchange. “We are preparing for the (domestic) auction in November. We will do one
