NEWS
ICEX to Launch Diamond Futures in March
Mumbai: The Indian Commodity Exchange
(ICEX) is planning to launch three futures contracts for diamonds in March to
provide exporters with a hedging tool, the exchange said recently, according to
a report published in profit.ndtv.com.
Sales of Indian Gold Jewellery Drop in Gulf
Dubai: The ongoing blockade of Qatar by its
neighbouring nations has raised concern among Indian jewellers who have
operations in the Gulf Cooperation Council countries. Jewellers said sales
dropped in the region because buyers from Qatar, who are known to prefer high
value items, are absent from the market.
Belgium’s Rough Diamond Trade Strong in June
Antwerp: Belgium’s trade in rough diamonds
followed the trend seen last month, with exports and imports rising strongly
year-on-year in volume terms, though the rise in value terms was smaller,
according to figures released by the Antwerp World Diamond Centre (AWDC). The
polished trade however, continued to be slow, registering a drop y-o-y in both
volume and value during the month.
Ratings Agency S&P Upgrades ALROSA to BB+
Moscow: Russian diamond mining giant
ALROSA, said that Standard & Poors has upgraded its long-term corporate
credit rating to BB+, outlook stable.
India To Launch System to Certify Gemstone Quality
New Delhi: The commerce ministry will soon
launch a system similar to hallmarking of gold to certify the quality of
precious gemstones. “We want consumers to know the purity of precious gemstones.
Right now, there is no proper mechanism to know how testing of precious
gemstones is done because of which consumers are misled,” a senior government
official said.
-228x228.jpg "Shadow Market for Gold Set to Gain Post GST")
Shadow Market for Gold Set to Gain Post GST
Mumbai: The grey market for gold jewellery
is set to thrive after the 3% GST on the yellow metal imposed by the government
since July 1 this year, according to jewellers at Mumbai’s Zaveri Bazaar,
reports The Tribune India.
Titan Gains Strong Jewellery Sales in Q1
Mumbai: Titan Company reported strong
jewellery sales in the first fiscal quarter and said it expects to benefit from
India’s new tax system, reports Rapaport.
GST Could Bring Down Gold Demand in India for Short Period
Mumbai: An increase in taxes on gold sales
in India could curb short term demand from the world's No. 2 consumer of the
metal, the World Gold Council (WGC) said.
GJEPC–BDB Conduct Seminar on GST for Exporters
Mumbai: India’s Gem & Jewellery Export
Promotion Council (GJEPC) in coordination with the Bharat Diamond Bourse (BDB)
hosted a seminar for exporters on implications of and procedures under the new
GST regime introduced by the government. A large number of exporters attended
the session which was held in the bourse premises.
WDC Supports KP Team in Central African Republic
New York: The World Diamond Council (WDC),
an industry group focused on preventing conflict diamonds from entering the
global supply chain and protecting the value of natural diamonds, reaffirmed in
a press release today its commitment to the Central African Republic (CAR). The
statement reads: The WDC supports the efforts in preventing the trade of
conflict diamonds originating from CAR and stresses the collaboration of
intergovernmental organizations and civil society groups to monitor the
situation on the ground. A recent Global Witness report on diamond trading in
CAR similarly highlights the importance of continual cooperation from all
parties involved in the trade of diamonds in the region.