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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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Guatemala BSM Opens New Doors for Exports
Guatemala: GJEPC along with the Embassy of India in Guatemala successfully conducted a hybrid Buyer-Seller Meet (BSM) to promote Indian gems and jewellery in the Central American market. The event held on 24th June was graced by His Excellency Dr. Manoj Kumar Mohapatra, Ambassador of India to Guatemala, who delivered the welcome address, and Mr. Ramesh C. Khulbey, Head of Chancery
GJEPC Presents Pre-Budget Recommendations
New Delhi: India’s GJEPC Chairman Mr. Vipul Shah presented key recommendations for the gem & jewellery trade at yesterday’s pre-budget meeting with Union Finance Minister Mrs. Nirmala Sitharaman. Mr. Shah said, “The Indian gems and jewellery industry contributes around 10% to India’s total merchandise exports. However, the industry is currently facing some challenges due to the geopolitical scenario, the emergence
Sanctions: EU Extends Sunrise Period
Antwerp: European Union (EU) is extending the “sunrise period” for the traceability of sanctioned Russian diamonds by six months, and allowing trade in “grandfathered stock” – goods imported before restrictions were imposed. Both announcements were made yesterday as part of its 14th package of sanctions, according to the AWDC (Antwerp World Diamond Centre), which has been calling for concessions. The
IIJS Premiere Gets Exhibition Excellence Awards
Mumbai: It was a Proud moment for India’s Gem & Jewellery Export Promotion Council (GJEPC) when the India International Jewellery Show (IIJS) Premiere received Exhibition Excellence Awards on 21st June 2024 in Mumbai. “IIJS Premiere 2023” won two awards 1) Top Sourcing Show of India – Winner and 2) India’s Grand Show -1st runner’s up. The winner awards were received
Ernie Blom to be Guest of Honour at IDW
Ramat Gan: Mr. Ernie Blom President of the World Federation of Diamond Bourses (WFDB) has been invited as a guest of Honour to the International Diamond Week in Israel on the 8th to the 12th February 2015. Blom commented on both the forthcoming Antwerp Diamond Trade Fair and the International Diamond Week in Israel, saying “These kinds of events are
RJC to Hold AGM and Conference in Mumbai
Mumbai: The Responsible Jewellery Council (RJC) will hold its Annual General Meeting and a Conference at the Bharat Diamond Bourse in Mumbai, India from 13 to15 April 2015. The event will be structured over three days and will offer RJC Members and Stakeholders the opportunity to better familiarize with current and future RJC projects, the Indian manufacturing industry and best
‘CSR for Jewellery Professionals’ Course by Gem-A
London: The Gemmological Association of Great Britain (Gem-A) has announced its ‘CSR for the Jewellery Professionals’ course is now open for enrolment. The six lesson course, developed in conjunction with Branded Trust and the educational arm of the World Jewellery Confederation (CIBJO) the World Jewellery Confederation Education Foundation (WJCEF), is now accepting applications from across the trade for those who
Former De Beers Sales Director Joins Venus Jewel
Surat: Venus Jewel reports that Mahiar Borhanjoo, former executive sales director and senior vice president of sales, has been appointed as managing director of Venus Jewel International. He will be focused on creating new business ventures and further growing the global portfolio of Venus Jewel. Borhanjoo spent the last six years in his roles at De Beers. “It is wonderful
