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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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IIGJ Introduces Origin Certification Service for Emeralds
Jaipur: IIGJ-Research & Laboratories Centre (IIGJ-RLC) is the new brand identity after the merger of two well-established laboratories operated by India’s Gem & Jewellery export Promotion Council (GJEPC), the Gem Testing Laboratory (GTL, Jaipur) and the Indian Gemmological Institute – Gem Testing Laboratory (IGI-GTL, Delhi). The laboratory has now emerged as the leading facility in the country for certification of loose
Rs. 18,000 Crore Returned to Banks from Defaulters
New Delhi: The Centre informed the Supreme Court yesterday that banks got back Rs. 18,000 crore from absconding businessmen Vijay Mallya, Nirav Modi and Mehul Choksi after proceedings were initiated under the Prevention of Money Laundering Act (PMLA), 2002. Solicitor General Mr. Tushar Mehta told a three-judge bench led by Justice A M Khanwilkar that 4,700 cases are being investigated by the
JGT Dubai Gets Started
Dubai: Her Excellency Mona Ghanem Al Marri, Director General of the Government of Dubai Media Office, yesterday officially opened Jewellery, Gem & Technology Dubai (JGT Dubai) at the Dubai World Trade Centre (DWTC), kicking off 2022’s sourcing calendar for professional buyers eager for the full in-person experience and a return to business following a two-year hiatus. Running through Thursday, the
Anglo Platinum Recorded 161% Increase in EBITDA
Toronto: Anglo Platinum recorded a 161% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) to R108.4 billion in 2021 compared with R41.6 billion, a year earlier despite increases in costs and higher wages. It said this, in turn, led to an increase in headline earnings to R79 billion. Anglo Platinum’s return on capital employed also increased to 183%
Maryam Al Hashemi to Steer KP Committee on Participation & Chairmanship
Dubai: DMCC confirmed that Maryam Al Hashemi, Senior Director of Precious Stones and Metals at DMCC and the UAE KP Director, has been appointed Chair of the Kimberley Process (KP) Committee on Participation and Chairmanship (CPC). The CPC is a vital body within the Kimberley Process, responsible for evaluating new participants, reviewing compliance matters, and assessing Vice-Chair candidates. Its recommendations
MS Dhoni Reveals His Most Cherished Platinum Moments
Mumbai: Men of Platinum, the men’s jewellery brand from Platinum Guild International (PGI) India, brought its highly anticipated #MomentWithMahi campaign to a thrilling close with an exclusive fan meet-and-greet with MS Dhoni at the iconic Taj Lands End, Mumbai. This one-of-a-kind experience was the culmination of the brand’s festive purchase programme — a rare reward for select consumers who purchased
GJEPC Hails the India-US Trade Agreement
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has hailed the landmark India-U.S. trade agreement as a “vital relief measure for India’s gem and jewellery sector”, which faced severe pressure from escalating U.S. tariffs. GJEPC extends its deepest appreciation to the Hon’ble Prime Minister Mr. Narendra Modi, the Hon’ble President of USA Mr. Donald Trump, the Hon’ble Commerce &
Kirit Bhansali Applauds the Union Budget
Mumbai: India’s Finance Minister Mrs. Nirmala Sitharaman has presented the Union Budget for 2026-27 which is hailed by the Gem & Jewellery Export Promotion Council (GJEPC). Through an official Press Release its Chairman Mr. Kirit Bhansali says: “We thank the Government for a positive, growth-focused Budget that addresses key bottlenecks and gives fresh momentum to India’s gems and jewellery sector.
