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
GJEPC Flays Surat Diamantaires on Bourse Plan
Mumbai, 22nd May: The Gems and Jewellery Export Promotion Council (GJEPC), of India has criticized the move by some diamantaires in Surat to shift their Mumbai operations to the proposed Surat Diamond Bourse (SDB) in Surat, reports The Times of India. GJEPC chairman Vipul Shah said, “It is not the prerogative of 50 diamantaires to decide and win over others
India Raises Import Tariff Value of Gold, Silver
Mumbai: India has raised its import tariff value of gold and silver on Wednesday. Indian government has trimmed its import tariff value of gold from $421 per ten grams to $431 per 10 grams and silver from $644 per kilo gram to $ 646 per kilo gram, said the ministry of finance. Import tariff value is the base price on which
Zimbabwe Diamond Output, Sales Dipped in 2013
Harare: Zimbabwe’s diamond output declined 26.1 percent to 8.9 million carats last year, according to Equity Communications, reports Rough&Polished. The Harare-based research company said in a statement emailed told Rough&Polished that Zimbabwe was the only “major” diamond producer, which experienced a “sharp” decline in production and sales last year. It said diamond production in the Southern African country took a knock
JNA Awards 2014: Deadline for Entries Extended to 8th May
Hong Kong: JNA Awards, the annual industry-wide event that honors the innovators and leaders of the international jewellery industry, with a focus on their achievements and contribution in Asia, has now extended the deadline for accepting entries up to 8th May, 2014, an official press release issued by the organizer says. Individuals or companies may submit their entries or on behalf
LATAM Diamond & Jewellery Week from 20th June
Panama: Buyers and suppliers of jewelry, diamonds and colored gemstones from more than 20 countries in Latin America and around the world will gather at the World Jewelry Hub in Panama City from June 20 to June 23 for the Second Latin American Diamond and Jewelry Week. A commercial and networking event that is specifically designed to bring together players
RBS to Close Down India Operations
Mumbai: The Royal Bank of Scotland (RBS) is set to close its banking operations in India, having been frustrated in its efforts to find a buyer, according to a report in The Financial Times. The UK-based bank has for a number of years been selling non-core units of its India business, which it had to undertake after overextending itself during
Arun Jaitley in No Mood to Relent
New Delhi: Refusing to relent on excise duty levy on non-silver jewellery goods, Finance Minister Arun Jaitley on Sunday said a “luxury item” cannot remain out of tax ambit when taxes need to be paid on many essentials. A large section of jewellers and bullion traders have been on strike for over a month seeking withdrawal of one per cent
Angola Inaugurates New Diamond Mine
Luanda: Diamond mining company Sociedade Mineira do Tcheji, which will explore a diamond mine with the same name, expects initially to extract 3,000 carats of diamonds per month, with estimated revenues of US$1.5 million, Angolan news agency Angop reported. Mining.com reports (in Portuguese) that leaders of the Sociedade Mineira do Tcheji emphasized that “in the next 45 days after the
