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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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RBI Cuts Interest Rates by a Quarter Point
Mumbai: Reserve Bank of India (RBI) Governor Urjit Patel cut interest rates by a quarter point as forecast by economists citing softening inflation outlook and retained growth forecast but said outlook is improving with good monsoon. All six of the monetary policy committee unanimously voted in favour of the rate cut. “The Committee expects that the strong improvement in sowing,
De Beers’ 8th Cycle worth $485 Million
Gaborone: De Beers reported the sale of a provisional $485 million of rough diamonds at its eighth sales cycle of 2016 last week. The miner also confirmed the sale of $639 million of rough at the previous sales cycle held in August from a provisional figure of $630 million. De Beers Group CEO Bruce Cleaver said: “Demand for De Beers’
Botswana’s Diamond Exports Extend Decline
Gaborone: Botswana’s rough diamond exports continued a retreat in August, underlining the country’s need to diversify its economy as it celebrates 50 years of independence. Outbound shipments fell 5 percent to $399.7 million, according to data from the Bank of Botswana. Orders slipped 1.8 percent in the first half of the year even as exports in July were significantly higher
World’s Largest Blue Topaz to be Exhibited
London: A flawless blue topaz gemstone, said to be the largest of its kind, is set to go on display at London’s Natural History Museum. The Ostro stone weighs around 2 kg (4.4 lb) and will be exhibited from Oct. 19, on permanent loan from British entrepreneur and philanthropist Maurice Ostro, the museum said. Its value was not disclosed. “The
De Beers and Botswana Extend Partnership with Letsile Tebogo
London: De Beers Group and the Government of the Republic of Botswana today announced the extension of De Beers’ partnership with Olympic champion and Botswana sporting icon Letsile Tebogo. Originally launched in January 2025, when Tebogo was appointed a De Beers Global Ambassador, the partnership has now been expanded into a three-year programme of work between De Beers and the
Divine Solitaires, SGL Launch ‘Know Your Diamond’ Zone
Mumbai: The initiative equips Divine Solitaires’ reputed partner jewellers with advanced screening technology that can help verify key characteristics of diamonds,including whether a diamond is natural or laboratory-grown, checking laser inscriptions andverifying Hearts & Arrows (H&A). The screening machines will be provided as inventory to premium Divine Solitaires partner jewellers, enabling consumers to access the technology free of charge at
Sky Gold & Diamonds Acquires Purvi Gems
Mumbai: Sky Gold & Diamonds Ltd., (Sky Gold) one of India’s leading jewellery manufacturers and exporters, has successfully completed the acquisition of 100% equity shares of Purvi Gems & Jewellery (India) Private Limited, a company engaged in the manufacturing of uncut and precia jewellery and related products. Following the completion of the acquisition on October 7, 2026, Sky Gold is
‘UNNATI’ to Power Women in G&J Industry
Surat: The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of India’s gem and jewellery industry, yesterday launched ‘UNNATI – Powering Women in Gems & Jewellery’, a national mission to drive women in the sector learn, lead and grow as skilled professionals, entrepreneurs and future leaders. Beginning with its Gujarat chapter at Sardar Patel Smruti Bhavan, Surat, UNNATI
