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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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16 Indian Cos Participating in India Diamond Week
Mumbai: In its effort to promote the Indian gems and jewellery industry, the Gem & Jewellery Export Promotion Council (GJEPC) in association with Diamond Dealer Club is organizing the 5th India Diamond Week from August 22 to 25, 2016 at the Diamond Dealers Club, 580 5th Avenue, New York. The main purpose of the four-day event is to create an
Pravasi Bharatiya Samman Awards on 9th Jan ’17
New Delhi: The Ministry of External Affairs, Government of India is organizing Pravasi Bharatiya Samman Awards (PBSA) on 9th January, 2017. PBSA are conferred as part of the Pravasi Bharatiya Divas Conventions that have been organized by the Government of India since 2003. PBSA is the highest honor conferred on Overseas Indians. The Awards shall be presented by the Ministry
KP Chair Releases Mid-Term Report
Dubai: In something of a departure, Kimberley Process (KP) Chair Ahmed Bin Sulayem released a mid-term report about the organization’s activities so far. Some of the initiatives included visits to diamond mining countries in Africa, valuation seminars, and putting under consideration a proposal for using blockchain technology in the diamond industry for greater security. Blockchain has been described as an
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
European Natural Diamonds Exempted from US Tariffs
Antwerp: Natural diamonds cut in Europe will once again be exempted from US import tariffs. This brings an end to the 10% import tariff that had been in effect for the past six months. The restored exemption is significant news for the Antwerp diamond sector: Antwerp is Europe’s leading diamond-cutting centre, and the United States is a major trading partner
De Beers’ Rough Production Rises 88% in Q2 2026
London: De Beers has reported that its rough diamond production was 88% higher at 7.8 million carats, reflecting the impact of the extended maintenance shutdown in the comparative period at Orapa in Botswana, as well as the planned mining of higher-grade ore at both Jwaneng in Botswana and Gahcho Kué in Canada. Planned plant maintenance at Orapa and Jwaneng during
Only Natural Diamonds Should be Graded with 4Cs: CIBJO
Milan: The Diamond Commission of the World Jewellery Confederation (CIBJO) has insisted that the 4C polished diamond grading system (cut, color, clarity, and carat weight) should only be used for natural stones, but not synthetic ones. In the Special Report prepared for the upcoming 2026 CIBJO Congress, the Commission’s head Udi Sheintal also urged the industry’s stakeholders to use the
Forevermark Diamond Jewellery Enters East India
Kolkata: Forevermark Diamond Jewellery from De Beers Group has strengthened its presence in East India with the launch of its new store at South City Mall, Kolkata, marking the opening of its 10th store in India and another significant milestone in the brand’s retail expansion journey. Inaugurated by filmstar Raima Sen, the store brings Forevermark’s signature collection of natural diamond jewellery to one of the
