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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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IJEX, a Project by GJEPC Inaugurated in Dubai
Dubai: India’s Gem & Jewellery Export Promotion Council (GJEPC) yesterday unveiled the first of its kind The India Jewellery Exposition (IJEX) centre in Dubai. IJEX is a Global Business Touch-point especially for GJEPC members to connect with international buyers. The centre was inaugurated by Hon’ble Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Government
LBMA & WGC Launch Gold Bar Integrity Programme
Mumbai: London Bullion Market Association (LBMA) and the World Gold Council (WGC) are collaborating to develop and implement an international system of gold bar integrity, chain of custody and provenance. Over time, this will help consumers, investors, and market participants to trust that their gold is genuine and has been responsibly and sustainably sourced. To deliver this industry-wide and ground-breaking
India’s Jewellery Exports to Surge $ 10 bln. to UAE
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of gem and jewellery trade in India, applauded the historical India-UAE Comprehensive Economic Partnership Agreement (CEPA), as the sector will be benefited the most by this strategic pact.Import duty on Jewellery exported to UAE from India is reduced from 5 to 0%. And import into India from UAE
GJS Scheduled between 3 & 6 April in Mumbai
Mumbai: All India Gem and Jewellery Domestic Council (GJC), the Apex industry body representing the entire jewellery value chain across India, proudly presents its 1st large scale B2B Jewellery Expo “INDIA GEM & JEWELLERY SHOW (GJS 2022)” scheduled to be held from 3rd April to 6th April at Jio World Convention Centre, Mumbai. GJS will comprise top of the line
Rio Tinto’s Skill Development Plan at Bunder
Bhopal: Rio Tinto’s Bunder project has announced a unique driver training programme as part of a skills development plan for its diamond project in Madhya Pradesh. A special driver training program focusing on light vehicles has commenced with more than half the existing Bunder workforce eligible to apply. The programme, comprising theory and practical training, is being undertaken in partnership
Japan’s First Lady Visits Rio Tinto’s Pink Diamonds
Perth: Rio Tinto’s iconic Argyle pink diamonds were part of the inaugural visit to Western Australia by Japan’s First Lady Mrs. Akie Abe at the invitation of the Western Australian Government. The 2014 Argyle Pink Diamonds Tender collection, comprising around 50 of the rarest and most valuable pink diamonds in the world, were showcased in an exclusive preview for Mrs.
Forevermark Expands to UK and Ireland
London: Forevermark, the diamond brand from De Beers Group of Companies announced yesterday it will be expanding into the United Kingdom and Ireland this autumn. Crossworks Manufacturing Ltd. has been appointed as the only licensee partner and will be working with a select number of retailers to bring Forevermark diamonds to the region. Forevermark CEO Stephen Lussier comments, “London is
Gaetano Cavalieri Addresses ECOSOC
Milan: CIBJO President Gaetano Cavalieri has addressed the High Level Segment of the UN Economic and Social Council in New York, and in his presentation stressed the commitment of both CIBJO and the international jewellery sector to assisting the United Nations meet its development goals. Dr. Cavalieri was addressing the annual keynote gathering of the UN agency as the head
