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
More Than 200 Buyers Registered for Diamond Week
Ramat Gan: More than 200 foreign buyers are registered already for participation in the International Diamond Week (IDW) that will be held September 1-4 at the Israel Diamond Exchange (IDE). They will come face-to-face with more than 350 diamond firms which will exhibit their diamond stocks in the IDE’s trading hall. Since the IDW is a joint effort of the
KP Wants Firm Action on CAR Conflict Diamond Trade
Shanghai: Kimberley Process Certification Scheme members are upset by reports that conflict diamonds being extracted in the Central African Republic and are finding their way into the legitimate global diamond trade. After an inter-sessional meeting in Shanghai in June, the KPCS resolved to take action to stem the spillover of diamonds from the CAR, Israelidiamond.co.il reported. The KPCS determined that
Alrosa Diamonds Evade EU Sanctions
Moscow: Diamantaires in Russia and beyond were relieved to learn that Alrosa was not on the list of firms that the European Union has decided to slap sanctions on, JCK Online reports. In recent weeks, some diamond industry players worried that the Russian state-owned firm would be hit by trade restrictions, but these fears did not materialize. The sanctions were
Retailers Liable for Undisclosed Synthetics They Sell
New York: If a retailer sells a lab-grown diamond without disclosing its origin, it bears legal responsibility for that, even if that fact was not disclosed to the retailer, Jewelers Vigilance Committee president and CEO Cecilia Gardner said at a JA New York panel on synthetic diamonds on July 28, sponsored by the Natural Color Diamond Association (NCDIA). “A retailer
Botswana Cuts 2015 Growth Forecast to 2.6%
Gaborone: Botswana, the world’s biggest diamond producer, cut its 2015 economic-growth forecast by almost half because of an expected decline in demand for the precious stones. The southern African nation now forecasts expansion at 2.6%, the Finance Ministry said in a 2016-17 budget document. That compares with a projection of 4.9% announced by the government in February. “The downside risk
UN Council Blacklists CAR Diamond Firm
Antwerp: The United Nations Security Council blacklisted on Thursday the Belgian branch of Central African Republic’s diamond trading company and three people linked to the country’s more than three-year-old conflict. The blacklisted diamond trading house is Kardiam, which U.N. sanctions experts say is the Antwerp, Belgium-based operation of the Central African Republic’s diamond-trading company Badica. Under UN sanctions, the firm’s
Tzoffey's Holds First Rough Diamond Tender at IDE
Ramat Gan: Tzoffey’s 1818, the Israeli-French auction house, will hold its first exclusive African rough diamond tender August 30- September 4 at its brand new premises in the lobby of the Diamond Tower of the Israel Diamond Exchange (IsDE) complex in Ramat Gan. The rough of the upcoming tender is from Africa and includes a run-of-mine production, a wide variety
Colombia to Host Int'l Emerald Symposium
Bogotá: Colombia will host an International Emerald Symposium in October in what is claimed to be the inaugural gathering of producer countries to address challenges facing the industry. Fedesmeraldas, the Colombian Emerald Federation, will organize the conference, which will seek to address a number of issues as well as opportunities in resource management, manufacturing, certification, nomenclature, technology, consumer education and
