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
Top News
Petra to Sell 50% Stake in Williamson Diamonds
Dar Es Salaam: Petra Diamonds has agreed to sell a 50% of the entity that holds its shareholding in Williamson Diamonds Limited (WDL), the operator of the Williamson Mine, to Caspian for $15 million. Caspian is a long-term technical services contractor at the Williamson Mine in Tanzania. WDL is currently 75% owned by Petra, 25% owned by the government of
GJEPC Partners with NDC for Global Campaign
Mumbai: The Natural Diamond Council (NDC) has partnered with the Gem Jewellery Export Promotion Council (GJEPC) for their global campaign – ‘Thank You, By the Way’. The campaign reaches out to consumers who, now more than ever before, want to know where their products come from and the impact their purchases have on producing countries and local communities. It thanks
First Female President Appointed for Diavik Mine
Yellowknife, (Canada): Rio Tinto has appointed Angela Bigg as president and chief operating officer of the Diavik Diamond Mine. Angela, previously general manager, Operations at Diavik, will be the first female to lead the mine and its 1,100 employees. Angela joined the Diavik team in November of 2017 as vice president, Finance. She began her career with Rio Tinto in
Forevermark Launches 1st Diamond Boutique in Mumbai
Mumbai: De Beers Forevermark, the diamond brand from the De Beers Group, launched its very first exclusive diamond boutique in Mumbai (Bandra) with trusted retail partner Om Jewellers, that will exclusively retail the brand’s diamonds collection. This marks the opening of the 13th De Beers Forevermark Boutique in the country. India’s legendary sportswoman Sania Mirza, who has proved her dedicated commitment
DDE’s Peter Meeus Hits Back at PAC Claims
Dubai: Dubai Diamond Exchange Chairman Peter Meeus replied to what he called “serious allegations” made by Partnership Africa Canada about Dubai at the Kimberley Process (KP) Intersessional meeting taking place in Shanghai. “First of all we were surprised to see that Mr. Martin quoted an FAFT (Financial Action Task Force) report on ML/TF (Money Laundering/Terrorism Financing) of 150 pages in
Israel Exchange to Create Code of Ethics
Ramat Gan: In what appears to be a ground-breaking move for a diamond bourse, the Israel Diamond Exchange (IDE) has begun moves to create a code of ethics by which its members would be expected to operate. At a meeting at the bourse, IDE President Shmuel Schnitzer and management members discussed the creation of such a code with Israeli experts
China’s Jewellery Sales Accounted for 41%
Beijing: Mainland China is a major jewellery consumer in the world. According to the recently released China Jewellery Industry Report, 2013-2016, last year jewellery sales in Chinese Mainland approximated $75.8 billion, which is equivalent to 41.2 % of the global consumption. In Mainland China, the gold jewelry consumption accounts for about 50% of the total jewellery consumption. In 2013, two
Gold Smuggling in India May Fall to 50 Tonnes
Mumbai: Going by the seizures of gold which has increased four times in 2013-14, intelligence agencies have estimated gold smuggled in the country around 50 tonnes in 2013-14 which is way lower from the estimated by the World Gold Council (WGC), reports The Business Standard. WGC had estimated nearly 200 tonnes of gold entered India unofficially. Trade circles have been
