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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Introductory Seminars on NFTs, Blockchain & Crypto
Antwerp: The Antwerp World Diamond Centre (AWDC) has planned to organize introductory seminars on NFTs, Blockchains and Crypto. For many of us, it’s still a mystery, but in the diamond industry, the organizer sees companies pioneering with new and fresh ideas on how to integrate these new technologies into the diamond business. There is no doubt that these technologies will
GJEPC's 5th IRGSS Opens in Jaipur
Jaipur: The 5th edition of the India Rough Gemstone Sourcing Show (IRGSS), organized by GJEPC, was inaugurated in Jaipur on 15th March by Rahul Nangare, Commissioner of Customs, Jaipur. The three-week-long exhibition ends on 2nd April. It features an assortment of rough emeralds displayed by the Gemfields-owned Kagem Mining Company Limited, Zamiba. Colin Shah, Chairman, GJEPC said, “I am happy
JVC Issues Guidance about Russian Diamonds
New York: US sanctions on importing rough diamonds from Russia do not apply to stones mined there but cut and polished elsewhere, according to the Jewelers Vigilance Committee (JVC). The ban, announced last Friday, covers “unworked or simply sawn, cleaved or bruted” diamonds, or what generally referred to as “rough diamonds”, but does not extend to gems polished in other
De Beers Diamonds don't Come from Russia
London: De Beers is encouraging retailers to “buy with confidence” by engaging with their suppliers to understand the origin of their diamonds, following an executive order by US President Joe Biden banning the importation of Russia-sourced diamonds into the US. Biden made the move as part of a broad package of sanctions against Russia, its State entities and political backers
IMF Urges Zimbabwe to Boost Transparency
Harare: The International Monetary Fund (IMF) stated that Zimbabwe remains committed to implementing the policies and reforms that were agreed to with an IMF-monitored program and to stay engaged with international financial institutions. The program marked its first anniversary this month and while the IMF suggested a number of guidelines to stabilize Zimbabwe’s economy, the organization also concluded that the
Russia's Rough Exports Increased by 21.5% in 1Q
Moscow: Russia’s natural rough diamond exports increased 21.5 percent on the year to 12.01 million carats in the period from January to March, the Finance Ministry said on Monday. Diamond imports dropped 2.6 times in carat terms to 8,040 carats. In monetary terms, Russia’s diamond exports rose 20.6 percent to $1.41 billion while imports halved to $16.5 million, PRIME reports.
Raise Import Payment Credit to 180 Days: GJEPC
New Delhi: With expectations running high from the first budget of the Narendra Modi government at the Centre, a delegation of diamond traders and representatives of Gems and Jewellery Export Promotion Council (GJEPC) today met the Union Finance Minister, Arun Jaitley in New Delhi demanding relaxation in various rules relating to gems and jewellery industry. However, gold importers may feel
Suresh Shah New VP of IDMA
Antwerp: With the wrap-up of the 36th World Diamond Congress, the International Diamond Manufacturers’ Association (IDMA) concluded its meetings with the election of its officers. Maxim Shkadov was unanimously re-elected for a second term as IDMA President and Ronnie VanderLinden and Stephane Fischler were re-elected as Secretary General and Treasurer, respectively. IDMA Vice President Edward Asscher, who was recently elected
