We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
Why Is a Widening Gulf War Lifting Oil but Sinking Gold and Silver?
Macro Snapshot: The week ending 30 October brought the kind of news that once sent buyers into gold. Reuters reported the first known successful limpet-mine strike on a tanker in the Strait of Hormuz since the war began in February, and Houthi forces claimed strikes on Saudi refineries. Washington ordered non-emergency government staff out of Saudi Arabia amid reports that US strikes on Iran could resume after the 3 November midterm elections. Brent rose 13.6% over October, with the expiring
Why Is a Widening Gulf War Lifting Oil but Sinking Gold and Silver?
Macro Snapshot: The week ending 30 October brought the kind of news that once sent buyers into gold. Reuters reported the first known successful limpet-mine strike on a tanker in the Strait of Hormuz since the war began in February, and Houthi forces claimed strikes on Saudi refineries. Washington ordered non-emergency government staff out of Saudi Arabia amid reports that US strikes on Iran could resume after the 3 November midterm elections. Brent rose 13.6% over October, with the expiring
Top News
GJC Urges Rollback of Import Duty on Gold
Mumbai: All India Gem and Jewellery Domestic Council (GJC) has sought immediate rollback in import duty of gold – the basic raw material for the jewellery business – from 12.5% to 10% and immediate implementation of a comprehensive integrated Gold Policy to save the gem & jewellery business and the jobs of 55 lakh labour force engaged in the business
De Beers Announces Interim Financial Results
London: Anglo-American – and its subsidiary De Beers – published their results for the first half of 2019. For Anglo-American, rough diamonds constitute less than ten percent of its earnings. Anglo’s chief earnings come from coper ($789 million), PGMs i.e. precious metals ($824) Bulks, i.e. a collation of products such as coal, iron ore, aluminum and other minerals ($3.36 billion!)
Indian Customs Clarifies on Foreign Exhibitions
Mumbai: Following the Ministry of Finance’s announcement that no IGST will be levied on gem and jewellery carried outside of the country for exhibition purposes, Director (Customs) vide Circular No. 21/2019 – Customs has clarified regarding applicability of Notification No. 45/2017 – Customs dated 30.06.2017 on goods, which were exported earlier for exhibition purpose/ consignment basis. Till now, gem & jewellery which was
De Beers Gets Funds for Research at Gahcho Kué
Toronto: De Beers Group’s carbon-capture research at the Gahcho Kué mine in Canada has received a funding boost following the award of a C$675,000 grant from Natural Resources Canada’s Clean Growth Program towards pioneering research in partnership focused on delivering carbon-neutral diamond mining. The project in Canada is part of a De Beers Group global research program that includes studies,
Forevermark Diamond Jewellery Opens First Store in Bengaluru
Bengaluru: Forevermark Diamond Jewellery from De Beers Group has strengthened its presence in South India with the launch of its first store in Bengaluru, marking a significant step in the brand’s retail expansion journey in India. Located at Phoenix Mall of Asia, one of Bengaluru’s premier luxury retail destinations, the new store strengthens Forevermark’s presence in one of the country’s
India–UK Trade Agreement: CoOs Distributed
New Delhi: To commemorate the India–UK trade agreement coming into effect, Mr. Rajesh Agarwal, the Commerce Secretary and Ms. Lindy Cameron, High Commissioner of UK in India distributed Certificates of Origin (COOs) to some of our exporter members at Vanijya Bhawan. Mr. Sabyasachi Ray, Executive Director and Mr. Antarpal Singh, Regional Chairman, Northern Region received the certificates on their behalf
Kirit Bhansali Joins India’s High Level Delegation
Mumbai: Mr. Kirit Bhansali , Chairman of India’s Gem & Jewellery Export Promotion Council (GJEPC), joins Mr. Piyush Goyal , Hon’ble Minister of Commerce & Industry; Dr. S. Jaishankar , Hon’ble Minister of External Affairs; Mr. Jitin Prasada , Hon’ble Minister of State for Electronics & Information Technology and Commerce & Industry; and Ms. Karen Rentmeesters , CEO, AWDC, at
First Jewellery Export Consignment to the UK Under India–UK CETA
Mumbai: Mumbai, India’s financial capital and the country’s premier hub for gem and jewellery exports, yesterday marked a historic milestone with the flagging off of the first jewellery export consignment to the United Kingdom under the India–UK Comprehensive Economic and Trade Agreement (CETA). The Mumbai flag-off forms part of a nationwide initiative being held across Delhi, Surat, Jaipur, Chennai and
