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
Top News
GIA to Join De Beers' Tracr Blockchain Platform
London: The Gemological Institute of America (GIA) will join De Beers’ Tracr, the world’s first distributed diamond blockchain platform. The diamond group said GIA’s participation in Tracr will enable the world’s leading diamond grading laboratory to include an immutable record of the provenance of polished diamonds in its diamond grading reports for the first time, as the industry moves towards
GIA Reintroduces Paper Certs after Backlash
New York: GIA has bowed to pressure and says it will re-introduce paper certificates, at no extra cost, as of Sunday (9 April), reports idexonline. The move to digital-only Diamond Dossiers, for stones up to 1.99-cts, provoked widespread criticism from retailers, who said some customers were refusing to buy a diamond without one. In a message to clients, GIA (Gemological Institute of America) said it “did
Bharat Diamond Week Inaugurated
Mumbai: The 4th edition of Bharat Diamond Week (BDW) was launched yesterday at Bharat Diamond Bourse (BDB). Dr. M’zée Fula-Ngenge, Chairman, African Diamond Council was the chief guest along with Mr. CP Singh Chauhan, IRS, Jt Development Commissioner SEEPZ and Mr. Senthilnathan, Chairman ECGC. Dr. Ngenge in his inaugural address spoke on the strong bond that the Indian Diamond Industry
NDC's Report Reflects Changing Consumer Behaviour
Mumbai: The Natural Diamond Council (NDC) has released the third edition of their Jewellery Trend Report that highlights the upcoming natural diamond trends for the season, with a focus on how these trends bring a new opportunity to start conversations and create consumer desire for these billion-year-old wonders of nature. The report has been compiled with inputs by ‘The Style
ALROSA Not Changing Sales Policy in 2015
Moscow: The world’s leading diamond mining company ALROSA is not going to increase its capex or dramatically change its sales policy in 2015, ALROSA’s Vice President Ilya Ryaschin said in a conference call on Monday. According to him, the investment program currently under development envisages that capex in 2015 will not exceed the level of 2014 and will stay at
ALROSA again Chaired by Ilya Yuzhanov
Moscow: The Supervisory Board of ALROSA is once again chaired by Ilya Yuzhanov, according to the information received from the company on Friday. Yury Trutnev, Deputy Prime Minister of the Russian Government and Presidential Plenipotentiary Envoy to the Far Eastern Federal District, signed the directive prescribing the state representatives sitting on the Board to vote for Ilya Yuzhanov. The representatives
De Beers August Sight Estimated at $715M
Gaborone: The De Beers August sight closed last week with an estimated value of $715 million as the company maintained steady prices despite liquidity concerns in the diamond manufacturing sector. Rough trading slowed on the secondary market and premiums on De Beers boxes declined, with boxes selling at average low single-digit percentages during and after the sight. “The market is
Debswana Prolongs Lifespan of Mines To 2050
Gaborone: Debswana, a joint venture between De Beers and the Botswana government, has extended the lifespan of its mines in the southern African country to 2050. Company managing director Balisi Bonyongo was quoted by APA as saying that the extension would solidify Botswana’s position as the world’s leading diamond producer by value. He also said that Debswana would continue to
