New Lecture Series of GIA in NY!

GIA (Gemological Institute of America) presents a dynamic and informative series of talks, GIA New York Science Talks Series, where GIA researchers will share ground-breaking discoveries related to gemology – including natural diamond formation, what diamonds tell us about Earth’s deep mantle, laboratory-grown diamonds and more.

The quarterly talks are free and open to the public. For more information and to register for the first talk is scheduled on October 30, visit GIA website. GIA New York Science Talks Series gives guests the opportunity to learn about cutting edge developments in gemological research and ask questions of leading researchers.

Five Grand New Showrooms opens!

Reliance Jewels, one of India’s most trusted jewellery brands, has launched five new grand showrooms in Delhi, Mathura, Meerut, Gorakhpur & Moradabad. As Festive season is here, the swanky new showrooms will showcase the new hand-crafted special collection, Atulyaa.

This collection consists of statement necklace sets in 22Kt gold in Antique &Culcatti finish along with 18Kt Gold & Diamond studded sets. The Collection includes chokers, small & long style necklaces which are sure to sparkle this festive season.

Yug open new store!

Vishwa Gold a distributor of Yug by Tanvi Gold Cast from Ahmedabad launched gold jewellery with Swarovski Zirconia at their new store cum office at Ahmedabad. The Chief Guest for the occasion was Mr. Rajendra Jain, Managing Director Swarovski Gemstones India, Mr. Bipin Viradiya Founder Director Yug by Tanvi Gold Cast, Mr. Raj Bhalara Director Yug by Tanvi Gold Cast, Mr. Brijesh Amin & Mr. Umesh Patel Directors of Vishwa Gold along with reputed and respected industry dignitaries and media of Gujarat.

KYC and supply source traceability

The World Federation of Diamond Bourses (WFDB) Presidents Meeting after a special session on blockchain technology and supply source traceability has decided to take further steps on the need for increased transparency in diamond transactions.

The decision came after a debate on the conclusions of a panel on traceability, provenance and blockchain technology which included De Beers Group's Feriel Zerouki, NAMDIA's Kennedy Hemutenya, London Diamond Bourse President Alan Cohen, Alrosa's Head of International Relations Peter Karachiev, James Bernard, Director of Sales for the DMCC and Iris Van Der Veken, Executive Director of the Responsible Jewellery Council moderated by Peter Meeus, Honorary Chairman of the Dubai Diamond Exchange. 

Angola, a VAT country from Today

As from this Tuesday, October 1, 2019 Angola will be included in the list of countries in the SADC region that charge the Value Added Tax (VAT), which will replace the Consumption Tax. The Value Added Tax, which is levied on goods and services produced internally or imported, will have a flat rate of 14%.

This tax was to be implemented on July first of the current year, but national entrepreneurs asked for an extension of the deadline because they were not properly prepared. In the 2019 reviewed General State Budget that was approved in June by the National Assembly, the prevision on the cash income of the VAT to be collected had been revised upwards by 60 percent, in other words, the figures before were 156.3 billion kwanzas and moved to Akz 249.3 billion.

China proposes to set aside for bad loans

China’s Finance Ministry has proposed a new rule that would cap the amount banks have to set aside for bad loans, a move that could boost dividends to shareholders but weaken banks' capabilities to absorb losses in the future, said the Media China.

Under the proposal, loan loss provisions for Chinese banks would be limited to no more than double the minimum regulatory requirement, with any funds left over booked as profit, according a new draft of financial institution accounting rules published on September 31.

De Beers appoints Alastair Bickerstaff

De Beers Group Auctions is pleased to announce the appointment of Alastair Bickerstaff as the Head of Product Development and Sales. The new role, which was created following the departure of the Head of Sales and CRM, is an amalgamation of two instrumental elements of the business – Product Development and Sales.

As the Head of Product Development and Sales, Alastair’s aim is to develop more synergy between the two functions and better address our customers ‘product needs.

Richemont and Alibaba Launches Net-A-Porter

Richemont and Alibaba Group announce the opening of the Net-A-Porter flagship store on Alibaba’s Tmall Luxury Pavilion, an exclusive platform dedicated to the world’s leading luxury and fashion brands.

The launch marks the beginning of operations of the joint venture established between Yoox Net-A-Porter Group, the world’s leading online luxury and fashion retailer, and Alibaba Group, the world’s largest online and retail commerce company by gross merchandise volume. The Net-A-Porter flagship store’s grand launch campaign will begin in the second week of October, after China’s Golden Week.

Australian Lunar Series III 2020 coin

The first coloured release in the Australian Lunar Series III from Australian Mint, this 1oz silver coin showcases the 2020 Year of the Mouse design in vivid colour. Showcasing an endearing design of mice foraging on husks of corn, this flawless silver proof quality coin would make the perfect keepsake for those born in the Year of the Mouse in 2020, 2008, 1996, 1984, 1972, 1960 and 1948.

Credit Neutral for Corporates initiatives!

Arindam Som, Analyst-India Ratings and Research Pvt Ltd (Ind-Ra) believes the reduction in corporate tax rates is unlikely to materially impact the credit profile of India corporates, although the risk of fiscal slippage is likely to increase significantly.

Ind-Ra’s analysis of the top 1,000 listed corporates by revenue indicates that the total quantum of reduction in tax liability in FY20 is likely to range between INR600 billion and INR650 billion. Of this, 50%-60% of the benefit is likely to accrue to corporates with relatively healthy credit profile marked by low leverage and comfortable interest coverage.