US Halloween spending to be of 9bn

Once again, Americans are looking forward to splurging on their favorite candy, costumes and decorations during the Halloween season. According to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics, total spending for Halloween is expected to reach $9 billion, the second highest in the survey’s 14-year history.

The figure is relatively the same as last year’s previous record of $9.1 billion. Celebrants are planning to spend an average of $86.79, up from last year’s $86.13, with more than 175 million Americans planning to partake in Halloween festivities this year.

Liqhobong rough sales grew by 168%

Recently Firestone Diamonds, a new diamond producer with operations focused in Lesotho, announces its final audited results for the year ended 30 June 2018. Their key mine is Liqhobong Diamond Mine & that ran with Zero lost time injury record maintained with over 6.2 million man hours worked since project; commencement in July 2014 throughout the year!

Over all first full year of production characterised by exceptional operational performance & that says about 128% increase in diamonds recovered to 835 832 carats against the 365 891 carats of 2017. 18% increase in grade to 22.0 carats per hundred tonnes and 5% decrease in operating costs to US$11.62 per tonne treated compare to 2017 of US$12.26.

Gita Gopinath appointed on IMF Research Board!

International Monetary Fund (IMF) Managing Director Christine Lagarde appointed Gita Gopinath on Monday as Economic Counsellor and Director of the IMF’s Research Department. Ms. Gopinath will succeed Maurice (Maury) Obstfeld, who announced in July that he would retire at the end of 2018. Ms. Gopinath currently serves as the John Zwaanstra Professor of International Studies and Economics at Harvard University.

“Gita is one of the world’s outstanding economists, with impeccable academic credentials, a proven track record of intellectual leadership, and extensive international experience,” Ms. Lagarde said. “All this makes her exceptionally well-placed to lead our Research Department at this important juncture. I am delighted to name such a talented figure as our Chief Economist.”

Enthralling Asoka collection by Anmol

The one-stop brand for Luxury & Elegance, Anmol immortalizes the mysticism of Indian mythology in their latest temple jewellery collection – the Asoka Collection. Each piece is endowed with intricate excellence and narrates the timeless saga of Indian legends.

The classic Temple jewellery easily carves a spot in the heart of heirloom jewellery aficionados and the world of trousseau when moulded in pure 22 K gold. The quintessential Asoka Collection by Anmol boasts of Statement Necklaces, Earrings and Bangles that take you back to the times of majestic Indian empires and legendary folklore.

Competition Act on review spree!

In pursuance of its objective of ensuring that Legislation is in sync with the needs of strong economic fundamentals, the Government has constituted a Competition Law Review Committee to review the Competition Act.

The Competition Act was passed in the year 2002 and the Competition Commission of India was set up in pursuance of the same. The Commission started functioning in right earnest from 2009 and has contributed immensely towards the development of competition and fair play practices in the Indian market.

DGCX Records Highest Average Daily Volumes

Total volumes on the Dubai Gold & Commodities Exchange (DGCX) this year hit 17,255,556 contracts at the end of September, with yearly Average Daily Volumes (ADV) at their highest ever, reaching 89,873 contracts per day.

The best performing asset class in September was the Indian Rupee (INR) product suite, which saw Rupee Mini Futures record its 2nd highest monthly Average Open Interest (AOI) of 110,020 contracts, and the Indian Rupee Quanto, which has traded 3,160,471 contracts year-to-date (Y-T-D), up 51% from 2017.

RJC Code of Practices Review:

 Public Consultation Round 3 on Diamonds Due Diligence

The jewellery industry is a force for good, helping people mark some of the most important moments in their lives. That positive role extends to the way we do business, where we create jobs and opportunities globally. As an industry, it is vital that we can celebrate companies that take our role in society seriously, so we can build trust from mine to store.

The RJC strives to represent the very highest ethical standards in the industry, building confidence in the work done by our members.  As part of this process, and in line with RJC policy and the ISEAL Alliance Codes of Good Practice, in late 2017 we began the process of reviewing our Code of Practices (COP) standard. We now enter the third and final phase of consultation on that review and proposed move to a due diligence model for the diamond supply chain.

Blockchain technology grows with JP Morgan

J.P. Morgan announced the expansion of its Interbank Information Network (IIN), the first live blockchain service offered by the firm. More than 75 banks have signed up to be part of IIN, the largest number of banks to join a live application of blockchain technology.

“We’ve been actively exploring how emerging technologies such as blockchain, AI, and an enhanced digital experience can be deployed in our Treasury Services business to better serve our clients’ ever changing needs,” said Takis Georgakopoulos, Global Head of Treasury Services. “We will lead the market with the rollout of a robust pipeline of innovations over the coming months, beginning with the launch of IIN.”

Intrinsic the New York Collection

No jewelry brand has such an illustrious history and connection to the city of New York as the House of Harry Winston.

The New York Collection by Harry Winston pays homage to Mr. Winston’s beloved city. This bejeweled love letter to our founder’s home – a city whose vibrancy continues to motivate creativity in all aspects of life – is comprised of sub-collections: Brownstone, Cathedral, City Lights, Central Park Mosaic, Eagle, 718 Chandelier, 718 Marble Marquetry and 718 Emerald Vitrine.

GJ trade, the best among the rest in Sri Lanka

According to the recent information by Sri Lanka Export Development Board, for centuries, the gem and jewellery industry of Sri Lanka has been playing a central role in the country’s cultural, social and economic development. Growing from strength to strength, the industry presents tremendous opportunities of investment and value addition.

There are two principal ways by which the gem and jewellery industry contributes to the Sri Lankan economy.

First, the gem and jewellery industry employs between 150,000 to 250,000 people at different levels along the value chain including miners, dealers, lapidarists, jewellers, goldsmiths, retailers etc. Secondly, the industry currently generates a total of about US $350 million worth of foreign exchange on an annual basis. It’s the seventh largest in terms of export contribution.