We Wish to Build Globally Relevant SKY Gold: Akash Talesara
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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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Rio Tinto Showcases Rare Red & Pink Diamonds
Perth: Rio Tinto’s iconic Argyle Pink Diamonds Tender has been unveiled during a world exclusive preview in Sydney, with the 2014 collection boasting a record four rare Fancy Red diamonds. Celebrating the 30th anniversary of the world’s most anticipated diamond sale, the 2014 Argyle Pink Diamonds Tender collection comprises 55 diamonds, including 51 pink and purplish red diamonds and four
NY DDC Opens India Diamond Week
New York: The Diamond Dealers Club (DDC) of New York, in conjunction with the Gem & Jewellery Export Promotion Council (GJEPC), greeted yesterday close to 100 exhibitors at its first India Diamond Week on the DDC’s trading floor in Manhattan. DDC’s president, Reuven Kaufman, is creating a renaissance of the diamond trading floors by welcoming diamantaires from India, the manufacturing
Global & Indian Firms Interested in Surat Bourse
Surat: Diamond companies from Belgium, Dubai, Israel and Hong Kong are interested in joining the proposed Surat diamond exchange and have applied for membership, according to Dinesh Navadiya, president of the Surat Diamond Association (SDA), reports The Economic Times. The proposed exchange, is likely to be almost as large as Mumbai’s Bharat Diamond Bourse (BDB), and the government is in
India May Restore Tax Benefits to Mfg SEZs
New Delhi: The Indian Government is examining the possibility of restoring tax benefits for a handful of manufacturing special economic zones, while continuing to tax the rest to minimize revenue losses, reports BusinessLine. “As exports from manufacturing SEZs, excluding gems & jewellery and petroleum, account for just 10 per cent of total SEZ exports, exempting them from taxes would not
UK Royal Mint Launches Gold Bar featuring Laxmiji
London: As the British-Indian diaspora gear up to buy gold on the auspicious occasion of Dhanteras, the UK’s Royal Mint has launched its first ever gold bullion bar to celebrate Diwali, reports The Times of India. The bar is engraved with an image of the Hindu goddess Lakshmi. The Lakshmi bar — which contains 20g of 999.9 fine gold with Lakshmi engraved into
India’s G&J Exports Grew by 17% in August 2021
Mumbai: The overall gross exports of Gems & Jewellery recorded a growth of 17% to Rs. 24239.81crore (+12.76% in dollar terms to US$ 3288.32 million) in the month of August 2021 as compared to the August 2019 figure of Rs. 20793.80 crore (US$ 2916.18 million). During April-August 2021, the overall gross exports of Gems & Jewellery witnessed a growth of 13.17% to Rs. 116503.64 crore (+7.41% in
Platinum Season of Hope Aims to Boost Demand
Mumbai: Following the success of its first edition in 2020, Platinum Guild International (PGI) brings back its month-long retail initiative, Platinum Season of Hope, from 8th October 2021 – 7th November 2021. As consumers transition into the new normal, once again, there is renewed vigor for marking those special moments in life. The festive and wedding season are expected to
IIJS 2021 Generates Business of $ 6.75 Billion
Mumbai: In more ways than one, the 37th edition of IIJS Premiere 2021, the flagship trade show held in Bengaluru by India’s Gem & Jewellery Export Promotion Council (GJEPC), revived the moribund economy, not just that of the gems and jewellery sector, but all the peripheral sectors associated with the organising of the show, including transport, hotels, retail, and restaurants.
