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
$6m Diamond Goes Missing
Windhoek: Police in Namibia are hunting for a 78-carat diamond after the gem went missing during a recent strike by 1,500 workers of the Namibia Diamond Trading Company. NDTC, like the mining firm Namdeb, is a 50-50 joint venture between Anglo American’s De Beers unit and the Namibian government with a history dating back to the 1920s. Bloomberg reports the
BDB Planning International Diamond Week
Mumbai: India’s Bharat Diamond Bourse (BDB) is planning an International Diamond Week in 2015, Mr. Anoop Mehta, President of the BDB has said in an interview with Rapaport. Stressing about the BDB’s future plans, Mr. Mehta said, “We are planning an International Diamond Week, which will take place in the bourse sometime in early 2015. It will have about 300
Mugabe Seeks Polishing Partnership with China
Harare: President Robert Mugabe said Zimbabwe intended to partner a Chinese company, Chow Tai Fook, to process local diamonds to add value. At the moment, the country exports its diamonds, mainly mined in Marange, in raw form. Beneficiation of natural resources, especially minerals, forms the centre piece of Zimbabwe’s new five-year economic blueprint, the Zimbabwe Agenda for Sustainable Socio Economic
Accenture Suggests Steps to Boost Exports from SEZs
Kolkata: IT consultancy firm Accenture has warned that the move by Indian jewellers to set up units in China and Dubai may slow down gem and jewellery exports from the country, even as it suggested steps to boost exports from special economic zones (SEZs), reports The Economic Times. The jewellery companies that are considering setting up units abroad include Kama
AWDC Renews Support of DDI
Antwerp: Antwerp World Diamond Centre (AWDC) has made an important contribution to the Diamond Development Initiative (DDI), announced the AWDC and DDI. This year’s grant will be the third donation from the Centre in support of DDI’s work in bringing development to artisanal mining communities. Ari Epstein, CEO of the Antwerp World Diamond Council, said, “AWDC supports DDI because it
Miners Urged to Start Generic Promotion
Surat: The Gem and Jewellery Export Promotion Council (GJEPC) of India has urged the diamond mining companies of the world, including De Beers, to embark upon generic promotion to sustain the diamond dream. GJEPC office-bearers said generic promotion is extremely important because of huge competition from luxury items, not necessarily jewellery. Generic promotion will position diamond as a valuable product
EGL Rights Holders Reorganize Israel Operations
Ramat Gan: The holders of EGL rights in Israel and Guy D. Benhamou announced on Wednesday that the Eurogem laboratory in Israel (also known as EGL International), located in the Noam Building, Tuval Street 21, in Ramat-Gan, will be ending its operations as an EGL laboratory as of April 2, 2015. EGL thanks Benhamou for his 23 years of service
Diamond Grading & Inscription Facility in Surat
Surat: The De Beers Group of Companies announced on Tuesday the opening of its newest and most technologically advanced Forevermark diamond inscription and grading operation in the world – the International Institute of Diamond Grading and Inscription facility in Surat, India. The facility is a $10 million investment by De Beers and has been equipped with leading proprietary diamond technology.
