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Israel’s Diamond Industry Under Severe Pressure
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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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Kirit Bhansali Applauds the Union Budget
Mumbai: India’s Finance Minister Mrs. Nirmala Sitharaman has presented the Union Budget for 2026-27 which is hailed by the Gem & Jewellery Export Promotion Council (GJEPC). Through an official Press Release its Chairman Mr. Kirit Bhansali says: “We thank the Government for a positive, growth-focused Budget that addresses key bottlenecks and gives fresh momentum to India’s gems and jewellery sector.
G&J Trade Welcomes the Union Budget
Mumbai: India’s Finance Minister Mrs. Nirmala Sitharaman presented the union budget for 2026-27 yesterday in the parliament. Provisions of which are welcomed by India’s gem & jewellery (G&J) trade. Mr. Rajesh Rokde, Chairman, All India Gem & Jewellery Domestic Council (GJC): “The Union Budget 2026–27 reflects a stable and sensitive approach towards the Gems & Jewellery industry. The absence of
De Beers Group Debuts at India Art Fair 2026
New Delhi: De Beers Group, the world’s leading diamond company, makes its debut at India Art Fair 2026 with Voyage Through the Diamond Realm, an immersive experience in collaboration with textile artist Lakshmi Madhavan that celebrates natural diamonds as nature’s original works of art. The presentation will be on view from 5th to 8th February 2026 at NSIC Grounds, Okhla, as part of India
Antwerp Extremely Satisfied with India-EU FTA
Antwerp: The recently concluded trade agreement between the European Union and India provides for a reduction of India’s import duty on naturally polished diamonds of European origin, from 5.5% to 2.5%. This tariff reduction is the result of intensive lobbying efforts by the Antwerp World Diamond Centre (AWDC), in close cooperation with the European Commission. The measure represents a new boost for the Antwerp diamond industry and strengthens Antwerp’s attractiveness as a polishing centre. The reduced tariff is expected to have a positive impact on exports from Antwerp to India. “We are extremely pleased with the outcome of the long-awaited trade agreement between Europe and India,” says Karen Rentmeesters, CEO of AWDC. “Thanks to AWDC’s intensive and sustained lobbying, in close cooperation with the European Commission, India’s import duty on polished diamonds has been reduced from 5.5% to 2.5%. This is an important boost for the Belgian diamond sector and is expected to have a positive impact on exports of Antwerp-polished diamonds to India. Moreover, this measure strengthens our competitiveness as a polishing center: diamonds polished in Europe will now be able to enter India at a more favourable tariff than before, and also compared to other major trading hubs. India is one of the fastest-growing consumer markets for jewelry and therefore also offers
Urjit Patel is New RBI Governor
New Delhi: The Narendra Modi government on Saturday signaled continuity by naming Raghuram Rajan’s key deputy, Urjit Patel, as the 24th governor of the Reserve Bank of India (RBI), according to media reports. “Apart from continuity, what worked in Patel’s favour is his knowledge of monetary policy. Plus, he is in sync with the government’s growth aspiration,” a person close
Rio Tinto Closes Bunder Project in MP, India
Mumbai: Asked to explore the possibility of underground mining and wait until the Ken-Betwa river linking project was finalized, mining giant Rio Tinto on Friday decided to close its Rs 2,200-crore diamond mine project in Madhya Pradesh, reports indianexpress.com. “As part of its ongoing efforts to drive shareholder value by conserving cash and cutting costs further, Rio Tinto has decided
Vamaship Launches Int’l Shipping of Jewellery
Mumbai: The World’s first integrated Logistic Platform Vamaship launched its International ecommerce shipping specifically for the gems and jewellery industry from Mumbai starting from Rs.999 onwards at the India International Jewellery Show, in association with ‘BVC Logistics’- the official logistics partner for ‘IIJS’. BVC Logistics generates its maximum revenue from the gems & jewellery segment. The service will include a
Tanzanite Auction Generates over $ 3.3 Mln.
Dar Es Salaam: Tanzanite gemstones worth over 3.3 million US dollars (over 7bn/-) were sold during the maiden mineral auction here over the weekend as Manyara region starts the process to build mineral export processing zone at Mirerani. “We have already secured a vast plot onto which the Tanzanite EPZ will be established, with all polishing, processing and branding done
