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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India’s SNZ to be Inaugurated on December 20
Mumbai: The India Diamond Trading Center (IDTC), a Special Notified Zone (SNZ) within the Bharat Diamond Bourse (BDB) will be inaugurated on December 20. The IDTC–SNZ, which has been operating since July 1, will be inaugurated by Nirmala Sitharaman, minister of state for commerce and industry. The 4,000 square foot IDTC–SNZ is a joint venture between the Gem and Jewelry
Fed Hike Positive for Bonds and Rupee: Ind-Ra
Mumbai: The US Federal Reserve’s decision to formally mark the end of its Unconventional Monetary Policy is a welcome sign of normalization, which will augur well for domestic financial markets, India Ratings and Research believes. Specifically, the rates and currency market will stand to gain in the near term; the 10Y benchmark G-sec yield likely to soften around the 7.70%
Yoram Dvash Elected as President of the IDE
Ramat Gan: Mr. Yoram Dvash was elected as the new President of the Israel Diamond Exchange (IDE) today, December 16, 2015, replacing incumbent President Shmuel Schnitzer, who served a single two-year term. In the elections of the IDE presidency and board of directors, Dvash won with 1080 votes, against his single opponent, Arnon Juwal, who drew 761 votes. A first
GemAtlas Holds Webinar by Deepak Tulsian
Mumbai: On December 10, www.gematlas.com – B2B portal for the gems and jewellery industry, held a Webinar – ‘Enabling Indian Jewellery Entrepreneurs to Sell Globally on eBay’, which was presented by Deepak Tulsian – Head of the jewellery category, eBay India. eBay is one of the largest online marketplaces globally. Gems and jewellery manufacturers, traders and exporters have seen their
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
