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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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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
DDE Holding Sale of Rough from Kao Mine
Dubai: The Dubai Diamond Exchange (DDE) is hosting the Fusion/Hennig September Kao rough diamond tender for the first time. It started on September 21 and ends on Wednesday and offers the full run-of-mine production of the Kao mine located in Lesotho. It comprises more than 30,000 carats of rough, encompassing the full range of sizes and assortments, including large and
Gemfields Records $16M Profit
London: Gemfields plc. reported that revenue rose to $160.1 million for the fiscal year that ended on June 30, far surpassing revenue of $48.4 million one year earlier. The integrated gemstone mining company’s profit surged to $16.3 million compared with a loss of $22.8 million. Gemfields held cash of $36.8 million on June 30 and it estimated that inventory on
Zac Posen & Fabrikant-Tara Int'l Sign Partnership
Mumbai: Zac Posen, luxury apparel and accessories brand, and Fabrikant-Tara International, luxury diamond and gemstone wholesale company have announced their partnership to create a new collection of handcrafted fine Jewellery. The collection, scheduled to launch in Fall 2014, will be infused with the signature Zac Posen modern American glamour and detailed craftsmanship that the brand embodies. The collection will focus
PM Vishwakarma Yojna for Artisans Launched
Mumbai: India’s Prime Minister Mr. Narendra Modi launched the ‘PM Vishwakarma Scheme’ PM Vishwakarma logo, tagline and portal for traditional artisans and craftspeople on the occasion of Vishwakarma Jayanti on 17th September. The Prime Minister acknowledged the contribution of the Shramiks and Vishwakarmas in the construction of the India International Convention and Expo Centre (Yashobhoomi). “Today I dedicate ‘Yashobhoomi’ to
India Pavilion at HK Fair Features 72 Companies
Hong Kong: The Jewellery & Gem World Hong Kong (JGW) has made a return to its signature “One Fair, Two Venues” B2B format, with over 3,500 exhibitors converging to showcase their latest collections to trade buyers from around the world. Organised by the GJEPC, the India Pavilion at Asia World-Expo (AWE) from 18th-22nd September boasts an impressive 72 companies occupying
NDC Partners with Jewellery Brands in China
Mumbai: The Natural Diamond Council (NDC) recently announced a strategic partnership with two prominent leaders in China: DR Diamond Ring (Darry Ring), the world’s leading engagement ring brand(*), and LIU GUI FU JEWELRY, a renowned Chinese jewellery brand. Together, they will produce a range of digital content, online and offline communication projects. In addition, they will also leverage their educational
Kareena Kapoor Opens Women Entrepreneurs’ Exhibition
Mumbai: The 36th edition of the most anticipated event in the city – the Women Entrepreneurs’ Exhibition organized by the Ladies’ Wing of the IMC Chamber of Commerce and Industry opened yesterday. For over five decades, the Wing has championed women’s empowerment, fostered entrepreneurship, and promoted economic growth through its innovative initiatives. This popular event was a spectacular showcase of
