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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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Sebi Bars Mehul Choksi for 10 Years
Mumbai: Sebi on Monday barred fugitive businessman Mehul Choksi from the securities markets for 10 years and imposed a fine of Rs. 5 crore on him for indulging in fraudulent trading in the shares of Gitanjali Gems Ltd. He has been directed to pay the penalty within 45 days, according to the Securities and Exchange Board of India (Sebi) order.
De Beers Appoints Lupita Nyong’o as Global Ambassador
London: De Beers has appointed Lupita Nyong’o as its first Global Ambassador. The Academy Award-winning actor stars in the new brand campaign, De Beers: Where It Begins, which tells the story of the only global luxury brand that starts at the source. As a core element of the partnership Nyong’o will support De Beers’ Building Forever commitment, which aims to
De Beers Declares 2023 Sight Dates
Gaborone: De Beers has released its sales schedule for next year, with the miner holding its usual 10 sights across the 12-month period. The miner sells most of its rough to sightholders through a contract system under which clients make certain purchasing commitments in return for consistent supply. In April 2021, the miner introduced a new sales agreement offering more
Adil Kotwal Appointed as Chairman of GJSCI
Mumbai: Gem & Jewellery Skill Council of India (GJSCI) scheduled its Board Meeting yesterday at its registered office in SEEPZ, Mumbai. Mr. Sanjay Kothari the Chairman of GJSCI who was elected in October 2018, has completed his term making way for a new Chairman to be elected by the Board. Mr. Adil Kotwal, Managing Director, Creation Jewellery has been voted
India’s G&J Exports Grew During April’25 & Mar’26
Mumbai: India’s gem and jewellery exports for the financial year April 2025 – March 2026 stood at ₹2,44,827.26 crore, registering a growth of 0.93% in rupee terms compared to ₹2,42,559.39 crore in the previous financial year. In dollar terms, exports were recorded at US$ 27.72 billion, reflecting a moderate decline of 3.32% year-on-year. The performance comes amid a year marked by geopolitical
Gaetano Cavalieri Awarded 2nd Highest Rank in Italian Knighthood Order
Milan: CIBJO President Mr. Gaetano Cavalieri has been named a Grande Ufficiale (Grand Officer), the second-highest rank within the Ordine al Merito della Repubblica Italiana, the most senior knighthood order of merit in the Italian Republic. Established in 1951, the order recognizes accomplishments in the fields of science, literature, arts, economy, public service, and social, philanthropic and humanitarian activities and for
Zen Diamond Opens New Store in Hyderabad
Hyderabad: Zen Diamond, the globally acclaimed fine jewellery brand with a presence across more than 450 stores worldwide, continues to expand its presence in India with the opening of its new store at Lake Shore Mall, Hyderabad. After establishing a strong foothold in Mumbai with stores in Bandra and Borivali, and further strengthening its presence in Chandigarh with one store
World Diamond Day Sparks Global Groundswell
Mumbai: The Natural Diamond Council (NDC) announced the successful inaugural launch of World Diamond Day (April 8, 2026), a global, social-first movement that mobilized the diamond industry across more than 50 countries in a single unified moment. Designed to ignite a groundswell across the trade, the first-ever World Diamond Day drove a surge in global searches and social mentions for natural diamonds,
