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
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Rio to Build Largest Solar Plant in Canada’s North
Perth: Rio Tinto’s Diavik Diamond Mine is set to construct the largest solar power facility within Canada’s territories, featuring a vast array of over 6,600 solar panels. This innovative project will generate around 4,200 megawatt-hours of carbon-free electricity each year, catering to the mine’s energy needs. During the mine’s closure work, extending until 2029, the solar power plant will contribute
IIJS Premiere 2023 Generates Highest-Ever Business of over Rs. 70,000 Crore
Mumbai: The 39th edition of IIJS Premiere 2023, organized by India’s Gem & Jewellery Export Promotion Council (GJEPC), concluded with an overwhelming response generating its highest-ever business of over Rs. 70,000 crore for the trade. The second largest gem & jewellery fair of the world had 50,000 plus visitors at the two venues of JIO World Convention Centre (3-7 August)
Commerce Secretary Engages with Int’l Delegates
Mumbai: India’s Commerce Secretary Mr. Sunil Barthwal visited IIJS Premiere on 6th August at JWCC and NESCO, where he engaged in discussions with international delegations from several countries as well as the GJEPC Committee of Administration (CoA).The Secretary met with more than 150 international delegates attending IIJS Premiere 2023 with the aim of addressing trade challenges, exploring collaborative opportunities, and
GJEPC Hosted 8th Edition of Jewellers for Hope
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) hosted the 8th edition of its esteemed charity dinner, ‘Jewellers for Hope,’ at a glittering event attended by industry leaders and philanthropists. Backed by lead partner – De Beers; Associate Partner – World Gold Council; and powered by GIA; the ‘Jewellers for Hope’ charity event once again garnered overwhelming support from
De Beers Courting New York City Banks
New York: With financial institutions expressing continued reluctance to lend to the diamond industry De Beers is holding an event to reach out to New York City bankers. Howard Davies, head of De Beers’ commercial department, has invited local financiers to a Bankers Executive Briefing on Oct. 1 at a Manhattan hotel. The company veteran will brief attendees on the
Russia Plans to Divert Diamonds in Case of Sanctions
Moscow: In the event that the European Union decides to apply sanctions on Russia in general and the Russian diamond industry specifically, over the country’s conflict with neighboring Ukraine, Moscow plans to divert a large chunk of its diamond exports to other countries, Rough and Polished reports. Russian Federation Ministry of Finance Administrative Department Chief Alexander Akhpolov told Kommersant Vlast
Antwerp’s Rough Trade Still Thriving in August
Antwerp: This month’s rough trade in Antwerp outperformed that of August 2013, with increases in both import and export, continuing the positive trading streak of this year. Imports and exports of polished saw some adjustments due to the modest trading in the same month last year. Rough trading continued in a positive vein this month, further extending the robust figures
Antwerp to Hold 3rd Zimbabwe Diamond Auction
Harare: Zimbabwe is holding its third 10- day diamond auction at Antwerp until later this month with approximately 500,000 carats of diamonds expected to go under the hammer, a facilitating company has said. The auction is the country’s fifth since it started auctioning its rough diamonds on the international market in December last year. Zimbabwe held its first diamond auction
