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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 $2 million and barring the
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CIBJO Reports to UN Global Compact
Milan: The World Jewellery Confederation (CIBJO) has formally reported to the UN Global Compact about activities and programmes that it undertook in support of the United Nations organization’s international mission over the two-year period that started in September 2022. Described as the world’s largest corporate sustainability and social responsibility initiative, with more than 20,000 business participants and other stakeholders in
IIJS Premiere ’24 Spurs Record 12 Bln.$ Business
Mumbai: One of the world’s largest gem & jewellery B2B shows – India International Jewellery Show (IIJS) Premiere 2024 organized by India’s apex trade body, The Gem & Jewellery Export Promotion Council (GJEPC) set a new staggering record by generating a staggering USD 12 billion of business over 6 days. Showcasing “Brilliant Bharat” theme this year, IIJS Premiere 2024 (the
Recognizing Young Talents in 40 Under 40
Mumbai: 40 Young and bright talents of the gem and jewellery industry were awarded at 40 under 40 in the 40th edition of IIJS PREMIERE. This was the second batch of 40 under 40. The initiative recognizes the outstanding achievements of these young talents who are revolutionizing the gem and jewellery landscape through technological innovations and dynamic visions. The Show
De Beers Called off its August Sight
Gaborone: In yet another sign of the diamond market’s troubles, De Beers has called off the sight it scheduled for August and is combining it with the one that had been planned for October. The new merged sight will take place Sept. 23-27. That means De Beers will have nine allocations this year instead of its traditional 10, though a
AWDC and Belgian Govt. Engage in Constructive Dialogue
Davos: The leaders from Antwerp’s diamond industry participated in a panel discussion at Belgium House during the World Economic Forum in Davos. Representing the industry were Karen Rentmeesters, CEO of Antwerp World Diamond Centre (AWDC), and Ravi Bhansali, Vice President of AWDC. They joined Belgian Minister Annelies Verlinden, Head of Belgian Customs Kristian Vanderwaeren, and De Beers CEO Al Cook
WFDB Denies Claim that ADE is Affiliated Bourse
Antwerp: The World Federation of Diamond Bourses (WFDB) has officially denied a claim made by Philux Global Group, which is raising funds from the public for investment in the Asian Diamond Exchange (ADE), among other projects, that this purported diamond exchange is affiliated with the WFDB. The WFDB, founded in 1947, is the official association of diamond bourses internationally. Today
Susan Jacques to Retire from GIA
New York: The Gemological Institute of America (GIA) has announced the planned retirement of its president and CEO, Susan Jacques, at the end of 2025. The institute has begun a global search for a successor. Lisa Locklear, Chair of the GIA Board of Governors, said, “Susan Jacques is an incredible leader for GIA and the global gem and jewellery industry.
India at International Japan Tokyo Show
Tokyo: Mr. Sibi George, H.E. Ambassador of India to Japan visited the recently concluded 36th International Japan Tokyo 2025 show on 16th Jan 2025. He was impressed with India’s Product engineering and craftsmanship showcased at the India Pavilion organized by the GJEPC. He interacted with the exhibitors under the Pavilion and encouraged them. IJT, Japan’s leading jewellery exhibition is being
