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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Russia-China Plan to Establish a Joint Bourse
Moscow: Russia and China plan to establish a joint bourse for trading in precious and semi-precious stones, the group of companies Karat’s CEO Konstantin Bunin said, according to ITAR-TASS. The company has received a proposal from the Beijing Gold Exchange (CBGE) and the Beijing Financial Asset Exchange (CFAE) to create a trading floor for precious stones following the example of
Rockwell Ups Q2 Diamond Output
Vancouver: Rockwell Diamonds increased the volumes of gravel processed from its operations in South Africa by 57 percent to 1.4-million cubic metres during the quarter ended August 31, resulting in a 37 percent increase in output to 9,581 ct. The company’s chief executive James Campbell said the second-quarter production results revealed continued benefits flowing from the group’s focus on its
De Beers first to Operationalize SQUID System
Gaborone: De Beers, owned by Anglo American is first in the world to operationalize airborne magnetic SQUID system-the Super Conducting Quantum Interference Device-for the faster execution of work programmes and significantly reducing the mining exploration costs. This Full Tensor Airborne Magnetic SQUID system could locate kimberlite deposits through looking at changes to magnetic fields. This hi-tech system has a very
GJEPC’s Annual Awards on 10th October
Mumbai: The jury of the upcoming 41st Indian Gem & Jewellery Awards, met yesterday in Mumbai to finalize the names of the winners in all the categories. The awards ceremony will be held in Mumbai at Jamshedji Bhabha Theatre, NCPA on 10th October 2014. The jury members, who selected the winners include: Smt. Nirupa Bhatt, Managing Director (India & ME),
India's Platinum Jewellery Sales Grow by 35%: PJBR
Hong Kong: Despite global geopolitical and economic challenges and the dampening effect of COVID-19, strategic efforts by Platinum Guild International (PGI) to boost sales and heighten the desirability of precious platinum have forged upswings in key markets, as evidenced by the Platinum Jewellery Business Review (PJBR) Q3 2022. “PGI’s mission to boost the desirability of platinum and drive sales for
CBI Files 3 New Cases against Mehul Choksi
Mumbai: India’s Central Bureau of Investigation (CBI) filed three FIRs on Friday against fugitive Mehul Choksi for cheating and causing a loss of ₹6,800 crore to a consortium of banks. All the FIRs are filed by Mr. Vijay Wadhwa, Deputy General Manager of Punjab National Bank (PNB) on March 21, 2022. The first one states that Mehul Choksi, director of
Stage Set for Nirav Modi's Extradition to India
London: In his appeal, Nirav Modi argued that there was a high risk of suicide if he was extradited to India to face trial in the multi-crore PNB scam case. Diamond merchant Nirav Modi, accused in the Punjab National Bank (PNB) fraud and money laundering case, suffered another setback in his legal battle against his extradition to India. The High
India Simplifies Jewellery E-Commerce By Post
Mumbai: India’s Ministry of Finance through ‘Central Board Of Indirect Taxes And Customs’ Notification CBIC No. 104/2022- Customs (N.T.) and No. 103/2022-Customs (N.T.) dated 9th December 2022 has notified the Postal Export (Electronic Declaration and Processing) Regulations, 2022 and has amended the ‘Exports by Post’ Regulations 2018 respectively for allowing postal authorities to set up, operate and maintain the PBE (Postal
