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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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New Surat Diamond Bourse to Come up at Khajod
Surat: The most awaited project of proposed Surat Diamond Bourse has recently got a fillip as the Gujarat government has principally agreed to allot a plot at Khajod, said Mr. Pravin Nanavati, the former president of Southern Gujarat Chamber of Commerce & Industry (SGCCI). The proposed bourse would be spread over 300 acres plot and probable the largest in the
Surat to Become Diamond Trading Centre Soon
Surat: The Union government has given an in-principal approval to India’s first ‘diamond notified region’ in the diamond city of Gujarat. This will enable diamond mining companies from across the world to set-up rough diamond trading offices for direct trading with companies based in Surat and Mumbai, reports The Times of India. A delegation of Gujarat government met the Union
Putin Invited to Visit Surat
Surat: Surat mayor Niranjan Jajmera and the South Gujarat Chamber of Commerce and Industry (SGCCI) president, Mahendra Katargamwala, have formally invited Russian President Vladimir Putin to visit the diamond city during his India tour in December. Formal invites on behalf of the mayor and the SGCCI have been sent through the office of the Russian Ambassador in India, official sources
TanzaniteOne Q3 Output Dips
Dar Es Salaam: Richland’s partly-owned TanzaniteOne Mining Limited (TML) said it produced 622,551 carats of tanzanite during the third quarter of 2014 down from 810,347 carats recorded a year earlier. The company said in a statement that it achieved an average grade of 110 carats per tonne up from 108 carats realised during the second quarter of 2013. It said
AWDC Welcomes European Decision not to Impose Import Tariffs
Antwerp: The Antwerp World Diamond Centre (AWDC), the industry organization representing all Belgian diamond companies, has expressed relief and satisfaction following the European Council’s decision not to impose import tariffs on polished diamonds originating from the United States, as part of its package of countermeasures in response to the U.S. tariffs imposed by President Trump. European import tariffs could have
India Targets 500 Hallmarking Districts this Year
Mumbai: The Indian gems and jewellery industry witnessed a momentous occasion as Mr. Pralhad Joshi, Union Minister of Consumer Affairs, Food & Public Distribution, and Minister of New & Renewable Energy, graced the prestigious India Gem & Jewellery Show (GJS) at Jio World Convention Centre, Mumbai. The event also marked the 25th anniversary of hallmarking of gold in India, a
TV Anchors Sparkle with Natural Diamonds
Mumbai: As cricket fever sweeps the nation, India’s leading women cricket anchors are taking centre-stage from the pitch to the spotlight —accessorized with the brilliance of natural diamonds. From the pitch to the studio, these presenters are bringing a touch of glamour to the game, enhancing the energy and elegance of the cricketing experience. De Beers Group has partnered with JioHotstar and Star Sports for the
2-Day G&J Buyer Seller Meet Opened on 7th
Mumbai: The Gem & Jewellery Buyer Seller Meet (BSM) 2025 organized by India’s Gem & Jewellery Export Promotion Council was inaugurated today at Bharat Ratnam Mega CFC, Mumbai. The occasion was graced by the august presence of Mr. Dnyaneshwar B. Patil, IAS, Zonal Development Commissioner, SEEPZ alongside Mr. Kirit Bhansali , Chairman, GJEPC and Mr. Sabyasachi Ray, Executive Director, GJEPC
