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
Top News
IDE's Statement on Undisclosed Treated Diamonds
Ramat Gan: The President and the Board of the Israel Diamond Exchange has issued a statement expressing concern about reported suspicions that traders have distributed close to 500 high-quality, treated polished diamonds in the Israeli diamond trade, without disclosure, and with GIA diamond grading reports that misrepresented the diamonds’ true identity. The deception was exposed by GIA, which subsequently issued
WFDB Expresses Concern over GIA Statement
Antwerp: World Federation of Diamond Bourses (WFDB) President Ernie Blom has expressed his concern over a GIA statement that around 500 colorless to near-colorless diamonds were submitted, primarily to its grading laboratory in Ramat Gan, Israel, which were potentially subjected to an undisclosed temporary treatment. “I am extremely concerned by this development,” Blom said in a statement. “This is clearly
Jewellery & Knowledge Smart City near Mumbai
Mumbai: Maharashtra government has decided to set up jewellery and knowledge smart city in the state to promote the growth of gems and jewellery sector. “We plan to set up jewellery and knowledge smart city in the state to promote the growth of the gems and jewellery sector. I would request Maharashtra Industrial Development Corporation (MIDC) to provide suitable place
Zim Trust Agreements May Not Be Enforceable
Harare: Agreements which are claimed to have been made with diamond miners for support for Zimbabwe’s Community Share Ownership Schemes or Trusts, which come under the purview of the country’s Ministry of Youth, Indigenization and Economic Empowerment, may not be enforceable. According to NewZimbabwe.com, at a sector parliamentary committee which took place last week, acting secretary for Youth and Indigenization
Indian Companies Shine at 2014 JNA Awards
Hong Kong, 12th Sep: The 2014 JNA Awards has recognized a number of India-based companies for their contribution to the global jewellery and gemstone industry. JNA has named Anoop Mehta, president of the Bharat Diamond Bourse (BDB), as recipient of the Lifetime Achievement Award – the most prestigious honour conferred by JNA – while five of India’s major diamond manufacturers
Multibank is First Fin. Inst. to Secure Office in PGJC
Panama: Panama’s Multibank has become the first financial institution to secure office space in the Phase I building of the Panama Gem & Jewelry Center (PGJC). Providing a range of banking products and services, the Panama City-headquartered bank also has operations in Costa Rica and Colombia, a representative office in Peru, and is the main company in the Multi Financial
NCDIA Elects New President, Board
New York: The Natural Color Diamond Association (NCDIA) has elected new officers and a new board. Jordan Fine, JFine, will serve as group president; Alan Bronstein, Aurora Gems, will serve as vice president; Breanne Wittrock, Gunderson’s, will also serve as vice president; and Jeffrey Post, Gem Platinum, will serve as secretary/treasurer. Also on the board are David Shara, Optimum Diamonds;
Angola to Focus on CAR Challenges as KP Chair
Luanda: Angola, which is set to lead the Kimberly Process Certification Scheme (KPCS) next year, says that it will focus on following up on the situation in Central Africa Republic (CAR) and Venezuela. CAR was temporarily suspended from the KP in May 2013 after a coalition of rebels threw President Francois Bozize out of office. The World Diamond Council (WDC)
