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
Close Diamond Mining in Panna Tiger Reserve by '17
Bhopal: If the recent recommendations of the environment impact monitoring panel are accepted, the world-famous Panna diamond mines may have only three more years to bedazzle the world, reports Hindustan Times. Field director of Panna Tiger Reserve RS Murthy, who is a member of the monitoring committee, told HT that the committee met recently and came up with the recommendation
Rio Tinto Celebrates Chow Tai Fook Milestone
Beijing: Diamonds from Rio Tinto’s Argyle mine in Western Australia will be showcased across China in an unprecedented fashion from next month, headlined by a special white and champagne diamond encrusted tiara. The masterpiece, titled “Nature’s Glow”, has been crafted as a tribute to the strategic partnership between Rio Tinto and pre-eminent Chinese jeweller, Chow Tai Fook, on the occasion
ALROSA's President Steps Down
Moscow: On Monday, September 22, Fyodor Andreev stepped down from his president post “due to medical reasons”. Ilya Ryaschin, First Vice President of ALROSA, was appointed the acting President of the company. Company’s shares closed down 2.99% to 37.3 Rub. Later Rosimushchestvo released a press statement saying it “was sorry that Andreev had to leave ALROSA president post due to
IIDGR Displays New AMSD in Greater China
Hong Kong: The De Beers Group of Companies’ International Institute of Diamond Grading & Research (IIDGR) showcased the new Automated Melee Screening (AMS) device to great reception at this September’s Shenzhen International Jewellery Fair and Hong Kong Jewellery & Gem Fair. The new AMS device which can take up to 500 carats at once is a spectrometer based system that
Gem-A Announce Council Election Results
London: The Gemmological Association of Great Britain (Gem-A) has announced the results of its hotly contested election for seats on the Association’s Council, following a vote held at a reconvened AGM on Wednesday 26 August. The newly formed Council is comprised of a number of dedicated and long-standing Members of the Association with a diverse range of skills and experiences.
IDE Mulls Creating Large Diamond Factory
Ramat Gan: The Israel Diamond Exchange (IDE) is considering opening a manufacturing plant for the polishing of large diamonds, according to information posted on its website. The IDE’s Industry Committee has invited members of the bourse to a discussion of the facility on September 7. Plans calls for converting 400 square meters of currently unused space into a factory. The
ALROSA Releases Social & Environmental Report
Moscow: ALROSA published Social & Environmental Report. The Report was prepared in accordance with the “core” level of the new GRI G4 Sustainability Reporting Guidelines. The Report is to inform a wider audience about ALROSA’s major contribution to three areas of sustainable development: economy, environment and social systems. The Company’s social and environmental performance, commitments to the shareholders, clients and
India Has No Plans to Amend FTA with ASEAN
New Delhi: India is not likely to amend its free trade agreement (FTA) with the 10-member Association of South East Asian Nations (ASEAN) to curb the sharp increase of gold jewellery imports from the region. The Indian Commerce Ministry, which has been alerted by the country’s Revenue Department about the sudden spurt in gold jewellery imports at preferential duties through
