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
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2nd Annual Banking Summit Held by GJEPC
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) organized second annual Diamond, Gem & Jewellery Banking Summit-2014 on Saturday, 28th June 2014 in Mumbai. At the end of the Summit, a Work-Group was formed consisting representatives of India’s diamond sector, Banks and Export Credit Guarantee Corporation (ECGC) to suggest solutions to improve cordial relations among them. Delivering the inaugural
Stéphane Fischler Re-Elected President of AWDC
Antwerp: On Wednesday June 25, during the first meeting of the new Board of Directors of the Antwerp World Diamond Centre (AWDC) the Board members reelected Stéphane Fischler as President of the AWDC. The Board of Directors also appointed Kaushik Mehta as Vice-President, representing the trade, and Freddy Inzlicht as Vice-President representing the Bourses. In 2012, the by-laws of the
No Assurance from India on Easing Gold Curbs
Mumbai: A delegation of diamond traders and representatives of Gems and Jewellery Export Promotion Council (GJEPC) met the Union Finance Minister, Arun Jaitley recently, demanding relaxation in various rules relating to gems and jewellery industry. The Finance Minister, however, remained reluctant to give any assurance on the existing gold import’s 80-20 rule, which allows only nominated agencies to import gold
Zimbabwe Running Diamond Sector like ‘Mafia’
Harare: Zimbabwean opposition politician Innocent Gonese has said that Zimbabwe’s ruling Zanu PF party needs to stop running the country’s diamond sector “like a mafia where everyone involved in the management of the gems is a thief.” The comments were made at a public forum organized by the Southern African Political and Economic Series (SAPES Trust) in Mutare, reported the
Platinum for the Discerning Man
Mumbai: Classic accessories for men have always been in vogue. When it comes to precious jewellery men prefer Platinum for its understated style quotient and also as an expression of their individuality. From Maharaja’s of India to royalties’ world over precious platinum has been a part of the men’s repertoire. This year’s men’s collection platinum design takes inspiration from ‘Digital
Rajesh Exports: Robust Q2, Strengthening Top-Line
Mumbai: Rajesh Exports reported a strong set of results for the quarter ended September, 2015 which was a record quarter for the company. The company completed the acquisition of Valcambi, the world’s largest gold refiner, at the end of July, 2015 and hence the revenues and profits for this quarter included the performance of Valcambi for the months of August
Civil Society to Boycott KP in 2016
Johannesburg: Civil society members of the Kimberley Process Certification Scheme (KPCS) will boycott the organization next year in protest at the United Arab Emirates’ (UAE) chairmanship of the international body that combats conflict diamonds. The 11 members of the Kimberley Process Civil Society Coalition say the UAE’s chairmanship crosses a red line due to “widespread concerns over UAE’s lenient standards
Lucara’s Exceptional Stone Tender Earns $30 Mln
Gaborone: Lucara Diamonds’ second Exceptional Stone Tender of 2015 achieved revenues of US $29.7 million ($20,625 per carat). The tender included 13 single stones totalling 1,440 carats. The very large, high quality exceptional stones were extracted from its 100% owned Karowe Mine in Botswana. The announcement points out the following highlights: 10 diamonds sold for more than $1.0 million each
