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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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GJEPC Takes Bold Stance on Recent Hike in Import Duty
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) acknowledged the Government’s decision to raise gold import duty to 10% from 5% and Agri cess to 5% from 1%. An official statement issued by the organization says, “As an industry, we remain committed to the spirit of ‘Nation First’ echoed by Honorable Prime Minister Mr. Narendra Modi. In response to
Need to Further Strengthen Trust in the System: KP Chair
Mumbai: The Kimberley Process (KP) Intersessional Meeting 2026 commenced in Mumbai under India’s Chairmanship. The meeting, being held from May 11 to May 14, 2026, has brought together representatives from Kimberley Process Participants, Observers and industry stakeholders from across the world to deliberate on key issues related to the global trade in natural diamonds. Addressing the gathering, KP Chair 2026,
Sky Gold and Diamonds Appoints MSKA & Associates
Mumbai: Sky Gold and Diamonds Limited has appointed M/s M S K A & Associates LLP, Chartered Accountants, a member firm of BDO International, as the Statutory Auditors of the Company and its material subsidiaries, subject to shareholders’ approval. The appointment has been approved by the Board of Directors following the recommendation of the Audit Committee. The move marks a
Reena Ahluwalia’s Painting Accessioned into Smithsonian
Toronto: Visual Artist Reena Ahluwalia’s painting, “The Legacy of The Winston Red Diamond,” has been accessioned into the Smithsonian National Museum of Natural History. At a May 6 ceremony in the Janet Annenberg Hooker Hall of Geology, Gems, and Minerals, Dr. Gabriela Farfan, the Coralyn W. Whitney Curator of Gems and Minerals, accepted the painting. This is the first contemporary
NCDIA Hosts Global Color Diamond Con. Series
Mumbai: The Natural Color Diamond Association (NCDIA) plans to conduct a series of conferences in Australia, London, Antwerp, Israel and Hong Kong to build consumer awareness about the diamond category, the organization said in a statement. The series started earlier this month with events in New York on October 2 and Mumbai on October 8 covering the topics rarity and
De Beers Relocating Toronto HQ to Calgary
Toronto: In a move that is part of a restructuring effort to more efficiently support its Canadian diamond mines, De Beers Canada will close its Toronto headquarters and relocate to Calgary, Alberta, by the end of next June. “One of the things that accelerated this is the current state of the diamond market,” said De Beers Canada spokesperson Tom Ormsby.
Jean-Marc Lieberherr is Chairman of DPA
Gaborone: The Diamond Producers Association (“DPA”) has announced the appointments of Jean-Marc Lieberherr as Chairman and Stephen Lussier as Vice-chair, both with immediate effect. The DPA has also announced the appointment of Sally Morrison as Managing Director of Marketing, with effect from 19 October 2015. Jean-Marc is Managing Director of Rio Tinto’s diamond business, while Stephen is Chief Executive Officer
Finally, Murowa Diamonds Closes Down
Harare: RioZim Ltd., which controls a 22 percent shareholding in Murowa Diamonds, has announced that it is mothballing the company and the Murowa mine, located in Zimbabwe’s Midlands. The mine was technically grounded in the first quarter of this year, but it was thought that production would recommence at some point in the last quarter of the year. In June,
