We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
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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GJEPC Meets India’s Commerce Minister
New Delhi: A meeting was held under the chairmanship of Smt. Nirmala Sitharaman, Hon’ble Minister of State (Independent Charge) for Commerce & Industry on 5th April, 2016 to address the current challenges faced by various export industries. The meeting was attended by representatives of the various Export Promotion Councils and related associations who made representations on the support expected from
Israel to Hold 3rd IRDW from 22nd May
Ramat Gan: Israel stands to boost its international status as a rough diamond trading center with the third International Rough Diamond Week (IRDW) to be held May 22 – 26, 2016. The Israel Diamond Exchange (IDE) expects this event to attract a record number of international buyers as well as hundreds of Israeli diamond manufacturers. The rough diamond week will
Brazilian Officials Learning from Antwerp Industry
Antwerp: Fourteen officials from the Brazilian Ministry of Mines and Energy are following a rough diamond training course provided by the Antwerp diamond industry over a period of two weeks. The objective of the course is to ensure that Brazil is able to apply the strict requirements of the Kimberley Process properly. Brazil has a great many potential diamond mines.
DiamondCorp Sells Lace Mine Kimberlite Diamonds
Johannesburg: South African diamond mining, development and exploration company Diamond Corp has announced the sale of 8.648 carats of Lace Mine diamonds through direct sales and competitive tender. This marks the first sale of Lace Mine diamonds since 1931. The company said that 6,247 carats of the diamonds were greater than 1.25mm in diameter and were recovered as a result
CIBJO Gives Sustainability Frame for Pearl Sector
Milan: CIBJO President Gaetano Cavalieri has presented an outline for sustainability in the cultured pearl sector, emphasizing that a comprehensive approach must be taken that addresses economic, environmental and social responsibility. He was speaking at the Sustainable Pearls Forum, which took place in Hong Kong on June 21. The cultured pearl industry provides an opportunity to introduce concepts that often
Gold Curb Relaxations on the Way…
New Delhi: The government of India has indicated that there is a need to ease norms for bullion imports to boost supplies and jewellery exports. “There is a need of rationalisation in (gold import) duty and (gold import) procedure….We have already made it clear that there is a need to look at the current gold import regime,” commerce secretary Rajeev
RBI's Credit Limit Troubles Diamond Units
Surat: At least 350 small and medium diamond companies in the world’s biggest diamond cutting and polishing centre in Surat are facing severe financial problems with Indian banks strictly implementing the 90 days credit limit for overseas payment to rough diamond dealers in Antwerp and Dubai for the past four months, reports The Times of India. The Gem and Jewellery
India Eyes Direct Diamond Tie-Ups with Russia
Mumbai: With the threat of US economic sanctions on Russia hanging like a Damocles sword, India’s gem and jewellery industry is gearing to establish direct contacts with Russia, to source rough diamonds, reports Business Line. Supply of roughs from Russia to Dubai and Belgium could be severely impacted if the US imposes economic sanctions on Russia, say exporters. Currently, the
