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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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AWDC-Diamond Administration of China Sign MoU
Antwerp: The Antwerp World Diamond Centre (AWDC) and the Diamond Administration of China (DAC) have signed a memorandum of understanding that aims to reinforce cooperation between the two diamond centers. The MOU was signed during the Antwerp-Shanghai Investment Forum taking place in Antwerp June 3-4, which welcomes an economic and political delegation led by Shanghai Party Secretary and former mayor
Gem-A Postpones Upcoming AGM
London: The Council of Gemmological Association of Great Britain (Gem-A) has announced that it will be postponing the Association’s upcoming AGM, due to take place on 24 June 2015, citing the need to resolve internal matters. Following a press statement confirming the dates of their upcoming AGM, the Council of the Association has taken the decision to postpone the AGM
India Prepares for SNZ at BDB
Mumbai: A number of senior government officials led by Member (Customs), CBEC, Shri A.K. Kaushal visited the Bharat Diamond Bourse on May 30 and interacted with members of the industry from the GJEPC and BDB. Former Chief Commissioner of Customs Zone – I, Shri A.K. Kaushal was visiting the bourse for the first time. Shri Kaushal was accompanied by Shri
India Govt. Gets 'Global Empowerment Salute'
Las Vegas: India’s Minister for Home Affairs Mr. Rajnath Singh received the Diamond Empowerment Fund’s highest recognition, the 2015 Global Empowerment Salute which was conferred on Hon’ble Prime Minister Mr. Narendra Modi and the government of India at the DEF Gala held in Las Vegas. The honour was conferred on Mr. Modi and the government for India’s global leadership and
IIGJ Mumbai Opens Modern Campus to Power Industry Growth
Mumbai: The Indian Institute of Gems & Jewellery (IIGJ), Mumbai, took a significant leap forward in its journey of growth with the inauguration of its newly modernized, state-of-the-art campus. The launch marks a new chapter for the institute, reinforcing its role as a centre of excellence in gems and jewellery education, skill development, and innovation. The ceremony was graced by
Progress in Harmonization of Language used on Gemological Reports
Mumbai: The Laboratory Manual Harmonization Committee (LMHC) has reported significant progress towards its goal of achieving the harmonisation of language used on gemmological reports, following its latest meeting, which was hosted by the Swiss Gemmological Institute – SSEF, in Basel, Switzerland, in May. Following the meeting, LMHC members unanimously approved three new information sheets that standardise terminology and testing procedures, and
GJEPC Urges Finance Minister for Urgent Relief
New Delhi: India’s Gem & Jewellery Export Promotion Council (GJEPC) leadership, led by Chairman Mr. Kirit Bhansali, along with Vice Chairman Mr. Shaunak Parikh and Executive Director Mr. Sabyasachi Ray, met the Hon’ble Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman recently to seek urgent relief measures for the gem and jewellery sector, which has been severely impacted by
BDB Leadership Series Discusses Future of G&J Sector
Mumbai: The second edition of the Bharat Diamond Bourse (BDB) Leadership Series themed ‘Polishing Our Future’ concluded successfully with world renowned speakers attending the preparatory conference for the Gem and Jewellery Industry members. This was the third day of the three-day conference, the first two days dedicated to presentation of research papers by globally acclaimed scientists under the AGDRT (Advances
