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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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Alrosa Urges BRICS to Unite for Global Influence
Moscow: Speaking at the St. Petersburg International Economic Forum (SPIEF) 2024, Alrosa CEO Pavel Marinychev noted the formidable collective power of BRICS nations. Addressing a thematic session, Marinychev highlighted the significant economic clout of Brazil, Russia, India, China and South Africa (BRICS), which collectively represents 35% of the global GDP. “BRICS is the institution where we can shape a common
GJEPC Strengthens Trade Bonds in Latin America
Mumbai: The Gem and Jewellery Export Promotion Council (GJEPC) organised a delegation visit to Latin America from 21st to 29th May 2024. Led by Mr. Kirit Bhansali, Vice Chairman, GJEPC, the delegation toured Brazil, Colombia, and Panama to explore markets, boost India’s exports, and build stronger economic ties in the Latin American and Caribbean (LAC) region. The GJEPC delegation included Mr. Anish
De Beers Unveils Sustainability Report
Mumbai: De Beers Group recently reported on progress towards its ‘Building Forever’ sustainability goals, with key highlights including achieving a target to engage 5,000 women and girls in STEM (science, technology, engineering and mathematics) two years early, agreeing to establish a flagship Diamonds For Development Fund in Botswana, progressing key renewable energy projects in support of recently-validated science-based emission reduction
Rajesh Exports Reports Q4 Weak Results
(By Evaluate Research) Bengaluru: Rajesh Exports reported overall weak results for Q4 (ended March) as well as the full fiscal year. While revenues for Q4 substantially exceeded our published estimate, EPS was weaker than we expected. For Q4, revenues came in at Rs. 916 million, which was down 21% YoY, but up 40% QoQ – such has been the uncharacteristic
Gemfields Partners with Guild for Aurora Awards
Mumbai: On 25 September, responsible miner and marketer of coloured gemstones, Gemfields partnered with Guild – the first international gemmological institute in China – to host the gala ceremony of the third Aurora Awards International Gem and Jewelry Competition. Held at the IBC International Business Centre in Shenzhen, China, the event brought together elite representatives from across the global jewellery
PNG Jewellers to Unveil 9 Stores in 9 Days this Navratri!
Mumbai: In a momentous celebration of tradition, culture, and expansion, PNG Jewellers, a 192-year-old legacy brand synonym with trust, purity, commitment, and Maharashtrian tradition is set to launch nine new stores across Maharashtra this Navratri. Boasting sizes ranging from 2500 to 6500 sq. ft., each store will offer an extensive array of jewellery, comprising rings, earrings, exquisite bracelets, and bridal
GJS 2024 Concluded Successfully
Mumbai: All India Gems and Jewellery Domestic Council (GJC) recently announce the successful completion of its highly anticipated jewellery exhibition – Gems and Jewellery Show (GJS) – Diwali 2024 held from 25th September 2024 to 28th September 2024 at the Jio World Convention Centre, Mumbai. The event #HumaraApnaShow attracted thousands of jewellery enthusiasts, connoisseurs, and industry professionals, making it one
GJEPC’s 3rd Gem & Jewellery BSM Opened
Mumbai: India’s Gem and Jewellery Export Promotion Council of India (GJEPC), the apex trade organization dedicated to promoting Indian gem and jewellery exports worldwide, organized the 3rd edition of the Gem and Jewellery Buyer Seller Meet (G&J BSM) at the iconic Bharat Ratnam, Mega CFC SEEPZ in Mumbai. The two-day event was graced by the presence of distinguished guests including Mr.
