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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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Rohit Sharma, Anirudh Ravichander Star in Platinum’s New Campaign
Mumbai: Platinum Guild International (PGI) India unveiled a new campaign for its men’s jewellery brand Men of Platinum, featuring cricketer Rohit Sharma and music composer Anirudh Ravichander. The campaign signals an expansion of the men’s platinum jewellery category, speaking to a wider spectrum of men—from those seeking contemporary, design-led pieces as an expression of personal style to those drawn to
India’s G&J Industry Welcomes GST Reforms
Mumbai: The Indian Gem & Jewellery industry (G&J) expressed its sincere gratitude to India’s Finance Minister Mrs. Nirmala Sitharaman for the landmark GST reform recommendations approved at the 57th GST Council meeting. These progressive recommendations are a significant step towards enhancing ease of doing business, strengthening export competitiveness and creating a more enabling environment for the growth of India’s Gem
Momentum is Building for Basilia Jewellery & Watch Fair
Basel: Three months after its launch, it is clear that Basilia Jewellery & Watch Fair, organised by Informa Markets and MCH Group, meets a strong need with its gateway trade fair for the jewellery, watch and gemstone industries in Asia and Europe. Strong market demand has already brought exhibitor registrations to 70% of the target for the inaugural edition, which
Men of Platinum Expands Collection with New Designs
Mumbai: Platinum Guild International (PGI) India has unveiled a new Men of Platinum collection featuring chains, pendants, bracelets and rings designed for men at different stages of their journey. Endorsed by Rohit Sharma and Anirudh Ravichander in the brand’s new campaign, the collection brings to life a central belief: enduring success is forged through character—the conviction to forge your own
Million Dollar Argyle Coin Sold within 48 Hours
Perth: Rio Tinto announced the sale of The Perth Mint’s Kimberley Treasure, the world’s first coin to feature a rare red diamond from its Argyle Diamond Mine in the east Kimberley region of Western Australia. The Kimberley Treasure, a million dollar coin crafted from one kilogram of 99.99% fine gold and featuring a radiant cut 0.54 carat Argyle red diamond,
Lab Grown Diamonds Pose Threat to Melee
New York: Lab-grown diamonds will probably develop into a niche that would put pressure on the prices of melee diamonds in the long term, according to research by Morgan Stanley. The investment bank expects lab-grown diamonds to take 15 percent share of the melee market and 7.5 percent share of the larger-gems space. This means lab-grown production will affect melee
GJSCI Creates Pathway for World Skills Comp.
New Delhi: Sanjoy Pramanik, Asrof Jamal and Sweta Singh won the India Skill 2016 for Gems and Jewellery category that was hosted at Pragati Maidan, New Delhi. The winners who were trained and coached by GJSCI won the prize money of Rs. 1,00,000 , Rs. 75,000 and Rs. 25,000 respectively and the prize was given away by Mr. Rajiv Pratap
Willful Defaulters Owe INR 76,685 Crore to Banks
New Delhi: As many as 8,167 willful defaulters owe banks Rs 76,685 crore and 1,724 FIRs (first information report) have been filed against them last year, union finance minister Arun Jaitley told Rajya Sabha yesterday. Replying to a question on poor conviction rate of willful defaulters by Congress leader Digvijay Singh, Jaitley said that a Joint parliamentary committee (JPC) is
