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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De Beers Generates $450m from January Sight
Gaborone: De Beers is said to have earned about $450 million from its first sight of 2015, which ended recently in Botswana. Rapaport cited unnamed sightholders as saying that a number of boxes were deferred, representing about 20 percent of the overall sight value. Allegedly, rough diamond prices declined by about 4 percent and De Beers made significant price adjustments
HDFC, SBI among Top 50 Global Banks
Mumbai: Two Indian banks, HDFC Bank and State Bank of India (SBI), now figure in a list of the top 50 global banks in terms of market capitalization. HDFC Bank, India’s second-largest private lender in terms of asset size, ranks 45th, with a market capitalization of $39 billion, Bloomberg data show. With a market capitalization of $38 billion, SBI is
IDI Repeats Successful B2C Promotion
Ramat Gan: Bolstered by the success of its Cyber Monday B2C e-commerce campaign, the Israel Diamond Institute Group of Companies (IDI) has decided to make the pop-up platform a recurring event. IDI has just launched Sweet Valentine: Diamond Deals from Israel, a specially curated mini-site which features heart-themed diamond jewelry and loose diamonds from leading Israeli companies at discounts of
Rio Tinto Publishes 17 Select Diamantaires for 2015
Perth: Rio Tinto published a list of 17 diamond manufacturers that have received long-term contracts to buy its rough diamonds this year. These clients, known as Select Diamantaires, have been listed on the company’s website, but management added that a final decision for its 2015 and 2016 supply period will be made before the end of the first half of
Belgian Court Dislodges Attachment of Zim Gems
Antwerp: The court of First Instance in Antwerp has ruled in favour of Zimbabwe, a move which dislodged the attachment of 500 000 carats of diamonds worth over $45 million that belonged to Marange mining companies, The Herald reports. The diamonds were seized three months ago in Belgium by a South African mining company, Amari Platinum and later by a
IDMA Concerned about Over-grading Diamonds
Antwerp: Maxim Shkadov, President of the International Diamond Manufacturers Association (IDMA) said in an appeal distributed by IDMA that his organization expressed grave concern following the article published by Rapaport on over-grading of polished diamonds. In his article, “Honest Grading” posted last month and emailed to more than 77,000 diamond industry stakeholders, Martin Rapaport disclosed the over-grading of at least
EGL USA Stresses No Connection to Other EGL Labs
New York: EGL USA has responded to recent announcements of the closure of EGL International and the reorganization of the international EGL (European Gemological Laboratory) network by stressing that it does not have any connection with the bodies, reports IDEX Online. Yaakov Tversky, director of EGL USA, said, “Recently, EGL’s overseas laboratories announced plans to close and/or reorganize. This is
DSF 20th Anniversary to be Memorable
Dubai: The World Diamond Mark Foundation (WDMF), the Dubai Gold and Jewellery Group (DGJG) and the Dubai Events and Promotions Establishment (DEPE), an Agency of the Government of Dubai, have joined hands to make the 20th anniversary of the annual Dubai Shopping Festival, Dubai’s leading consumer shopping experience, a truly memorable event. In 2015, for the first time in its
