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
Inaugural Ruby Auction Nets $33.5m – Gemfields
Johannesburg: The inaugural auction of rough ruby and corundum mined at Aim-listed Gemfields’ 75%-owned Montepuez deposit, in Mozambique, has raised $33.5-million, taking the coloured-gemstones mining and marketing company’s overall revenue for rough gemstone sales to in excess of $143-million for the current financial year. The auction, held in Singapore from June 12 to 17, had included both high- and low-quality
GJEPC Demands Relaxations from Govt.
Mumbai: The Gems and Jewellery Export Promotion Council (GJEPC) has urged the government to reduce import duty on gold and silver to 2 per cent from 10 per cent. An official News Release received by this website says that the body has also demanded for scrapping the existing 80:20 scheme, which was imposed by the government in August last year,
36th World Diamond Congress Concludes
Antwerp: The 36th World Diamond Congress concluded in Antwerp, Belgium, and reflected strength in the attendance and the presence of international diamond, gem stone and jewellery industry organization delegates. These included the representatives of 30 bourses affiliated to the World Federation of Diamond Bourses (WFDB), 15 members of the International Diamond Manufacturers Association (IDMA), the two bodies that organize the
ADB's Profit -31%, Interest Income +13%
Antwerp: The Antwerp Diamond Bank (ADB), a subsidiary of the KBC Bank, reported that its balance sheet fell 7 percent year on year to $2.4 billion (EUR 1.692 billion) in 2013, according to a report published on Rapaport. A selective credit issuing policy during the year held the bank’s number of debtors stable, and global net interest income rose almost
Mandate for Self-Regulation of Rough Import-Export
Mumbai: In line with the current government’s focus on “minimum Government and maximum governance,” by easing the procedures of doing business in India, the Govt. of India has mandated membership of The Gem & Jewellery Export Promotion Council (GJEPC) for getting the Kimberley Process Certificate for import and export of rough diamonds into India. This effectively means that GJEPC, the
Committee Proposes Hike in Gold Silver GST
New Delhi: India’s Goods and Services Tax (GST) fitment committee has proposed raising slab of 5 percent to 7 percent and 18 percent to 20 percent. The feasibility of merging 12 percent and 18 percent to one single slab at 17 percent is, however, yet to be examined, sources said. They are also considering hiking compensation rate from 1 percent
Rio Tinto Becomes Sole Owner of Diavik Mine
Yellowknife, (Canada): Rio Tinto has become the sole owner of Diavik Diamond Mine in the Northwest Territories of Canada, continuing its leading role in the Canadian diamond industry. A transaction has been completed for Rio Tinto’s acquisition of the 40 per cent share held by Dominion Diamond Mines in Diavik, following the Court of Queen’s Bench of Alberta’s approval. With
Platinum Days of Love Launches New Collection
Mumbai: Over the last few years, we have realized of how fragile life is, making us value what we have, and cherish the relationships that we hold closest. When everything stood still, couples stood right by each other. They forged new pathways for each other when challenges took over and their dreams took a backseat. They learnt to recognize and
