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Israel’s Diamond Industry Under Severe Pressure
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Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Top News
GJEPC Urges RBI to Ease Banking Norms to Boost G&J Exports
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has urged the Reserve Bank of India (RBI) to introduce a series of banking and regulatory reforms to strengthen the competitiveness of India’s gem and jewellery (G&J) exports. The Council’s recommendations focus on improving exporters’ access to working capital, reducing compliance bottlenecks, streamlining banking procedures and creating a more facilitative regulatory
GJEPC Highlights Key Policy Priorities at Meeting with CIM
New Delhi: India’s Gem & Jewellery Export Promotion Council (GJEPC) highlighted the industry’s key policy priorities during a meeting chaired by Mr. Piyush Goyal, the Union Minister of Commerce & Industry, with Export Promotion Councils (EPCs) and industry associations in New Delhi on 24 June to review the Export Promotion Mission (EPM). Ashish Borda, Convenor – PMBD, GJEPC, and Sabyasachi
Thangamayil Jewellery, Receives IAGES Accreditation
Madurai: Gold buyers in Tamil Nadu can now purchase their favourite precious metal with complete trust and transparency from Thangamayil Jewellery Limited (TMJL), one of the most recognized chain of jewellery stores in the state. TMJL has officially received its IAGES accreditation, further cementing its commitment to serve its consumers in the most ethical, responsible and sustainable manner. The Indian
Russia to Levy 8% Duty on Rough from Sep.
Moscow: The Russian government has announced that it will impose an 8% export duty on rough diamonds weighing between 0.45 carats and 10.8 carats, as well as on special-size diamonds exceeding 10.8 carats, effective September 1, 2026. The new duty will apply to rough diamonds in weight categories that are considered economically viable for domestic cutting and polishing. Russia had
Bhoomi Poojan of Mega CFC at SEEPZ
Mumbai: Boomi Poojan of the state-of-the-art Mega Common Facility Centre (CFC) at SEEPZ was held in the presence of Mr. Piyush Goyal, Hon’ble Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Government of India, who attended the event virtually; Mr. Shyam Jagannathan, Zonal Development Commissioner, SEEPZ, Mumbai; Mr. C.P Singh Chauhan, Joint Development Commissioner,
Seventh Cycle of De Beers Fetches $638 mln.
Gaborone: De Beers raked in $630 million from the seventh rough diamond sales cycle of 2022 compared to $522 million, a year earlier or $638 million during the sixth sales cycle of the year. Group chief executive Bruce Cleaver said rough diamond sales continued at a steady level in the seventh sales cycle of 2022. “In line with normal seasonal
Vipul Shah Elected Chairman, Kirit Bhansali VC of GJEPC
Mumbai: Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the gem & jewellery trade in India, announced the Election Results of the new GJEPC board members for the tenure of 2022-2024 on 30th August 2022. Mr. Vipul Shah, the Vice Chairman of GJEPC for the tenure 2020-22, took charge as the Chairman of GJEPC for the tenure
Alrosa Sells $250m Rough a Month, Despite Sanctions
Moscow: Alrosa is reportedly selling over $250m of diamonds a month, despite sanctions imposed after Russia invaded Ukraine. Sales have resumed, says Bloomberg News, primarily to India, where banks have become more comfortable with transactions in rupees and in currencies other than US dollars, which have been outlawed. Alrosa, the state-controlled miner, is now said to be selling at levels
