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
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FATF Warns against Business with Iran, North Korea
New York: The Financial Action Task Force (FATF) has issued a list of nine countries that it says are not taking sufficient measures to combat money laundering and terrorist financing. The intergovernmental group, which aims to protect the global financial system from those activities, recently identified Iran and North Korea as high-risk enough to warrant a “call to action.” This
ALROSA Sells Diamonds Worth $365 Million in June
Moscow: ALROSA has announced its rough and polished diamond sales results for June and the first half of 2017. In June 2017, ALROSA Group sold USD 365 million worth of rough and polished diamonds. Rough diamond sales by value amounted to USD 354.4 million, polished diamond sales – USD 10.6 million. In January–June 2017, ALROSA’s rough and polished diamond sales
WDM Appoints New ‘Authorised Diamond Dealers’
Hong Kong: The World Diamond Mark Foundation (WDM) announced that a group of renowned retail jewellers from Belgium, Canada, Italy and Russia have joined the growing family of the World Diamond Mark® Authorised Diamond Dealers. They are DIAMANI, Diamond Blue, Oriane Jewelry and Rudiam Handmade Jewels, all from Antwerp, Belgium; Laferrière & Brixi of St-Lambert, Quebec, Canada; Luca 1959 Alta
CFC Inaugurated in Palanpur, Gujarat
Palanpur: India’s Minister of State (Independent Charge) for Commerce & Industry (C&I), Mrs. Nirmala Sitharaman recently inaugurated a Common Facility Centre (CFC) – the Ratna Abhushan Suvidha Kendra, Palanpur. The inauguration event, held in Palanpur, Gujarat, was also graced by India’s Minister of State for Micro, Small & Medium Enterprises (MSMEs), Mr. Haribhai Chaudhary. The CFCs being set up in
GJF Asks Finmin to Rationalize Duty
New Delhi: The All India Gems and Jewellery Trade Federation (GJF) has asked the government to at least double the gap between the import duties on raw gold and finished product to protect domestic manufacturers stressed by various curbs on raw material sourcing from overseas. In a meeting with the finance minister, senior executives of the association demanded the government
2nd Annual Banking Summit Held by GJEPC
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) organized second annual Diamond, Gem & Jewellery Banking Summit-2014 on Saturday, 28th June 2014 in Mumbai. At the end of the Summit, a Work-Group was formed consisting representatives of India’s diamond sector, Banks and Export Credit Guarantee Corporation (ECGC) to suggest solutions to improve cordial relations among them. Delivering the inaugural
Stéphane Fischler Re-Elected President of AWDC
Antwerp: On Wednesday June 25, during the first meeting of the new Board of Directors of the Antwerp World Diamond Centre (AWDC) the Board members reelected Stéphane Fischler as President of the AWDC. The Board of Directors also appointed Kaushik Mehta as Vice-President, representing the trade, and Freddy Inzlicht as Vice-President representing the Bourses. In 2012, the by-laws of the
No Assurance from India on Easing Gold Curbs
Mumbai: A delegation of diamond traders and representatives of Gems and Jewellery Export Promotion Council (GJEPC) met the Union Finance Minister, Arun Jaitley recently, demanding relaxation in various rules relating to gems and jewellery industry. The Finance Minister, however, remained reluctant to give any assurance on the existing gold import’s 80-20 rule, which allows only nominated agencies to import gold
