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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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Antwerp Presents Ring with 321 Natural Diamonds to the US
Antwerp: During the celebration of the 250th anniversary of the United States (US) in the Parc du Cinquantenaire in Brussels, the Antwerp diamond sector presented an exclusive ring set with 321 natural diamonds to U.S. President Donald Trump. The ring symbolizes the historic trade relationship between Antwerp and the United States – for decades the most important export market for
From London to Athens, GJEPC Builds New Export Opportunities
London: Representing India’s gem & jewellery industry (G&J), the Gem & Jewellery Export Promotion Council (GJEPC) Vice Chairman Mr. Shaunak Parikh joined the high-level business delegation led by India’s Commerce & Industry Minister Mr. Piyush Goyal to the UK and Greece. In the UK, GJEPC championed the industry’s priorities as the India–UK FTA paves the way for gem & jewellery
Candere Announces Smriti Mandhana as its New Brand Ambassador
Mumbai: Candere, the lifestyle jewellery brand from the House of Kalyan Jewellers, has announced celebrated Indian cricketer Smriti Mandhana as its new brand ambassador. Joining Shahrukh Khan as the face of the brand, Smriti’s association marks a significant step in Candere’s journey to strengthen its connect with young, modern Indian consumers. One of India’s most accomplished cricketers, Smriti has built
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
Zimbabwe to Set up 32 Gold Processing Centres
Harare: Zimbabwe Government plans to establish 32 gold processing centres in small-scale mining areas around the country to increase their contribution to national output, a senior government official has said. The centres would offer various services such as gold milling, collection points as well as assist with Environmental Impact Assessments. Mines and Mining Development deputy Minister Fred Moyo said the
AWDC Thanks Diamond Industry for Support
Antwerp: The Antwerp World Diamond Centre (AWDC) expresses its sincere gratitude for the many messages of support and solidarity from diamond organizations around the world after the tragic attacks in Brussels on Tuesday. Among the many organizations sending their condolences to AWDC and Belgium are: World Diamond Council, World Federation of Diamond Bourses, International Diamond Manufacturers Organization, India’s Gem and
Stanchart Tightens Loan Terms to Diamond Sector
London: Standard Chartered’s push to bring some sparkle back to its performance has led the emerging markets bank to tighten its terms for lending to the diamond sector, reports Financial Times. The London-listed bank has asked diamond dealers to provide more collateral or to take out insurance protection on their loans, without which they will have to pay higher interest
CIBJO Launches New Main Website
Milan: CIBJO, the World Jewellery Confederation, has launched a new main website. Located on the web at www.cibjo.org, it represents a technological upgrade from its predecessor, providing users with more information about the organization and the jewellery sector, as well as improved functionality. The launch of the website is the first stage of a three-part upgrade of CIBJO’s online presence,
