NEWS
Mumbai: With only a few days more for
implementation of the Goods and Services Tax (GST), jewellers have intensified
their efforts to replenish inventory by offering discounts on making charges
for ornaments, reports Business Standard.
New Delhi: Myanmar plans to step up the
promotion of jewellery and product in a bid to boost exports, Planning and
Finance Kyaw Win said.
Moscow: Representatives of Israel's diamond
industry want ALROSA to increase supplies of rough and polished diamonds
through its tenders in Israel, the Israel Diamond Institute (IDI) said in a
press release.
Toronto: Mountain Province Diamonds
recorded its highest average price to date as it garnered $21.1 million at its
June sale.
Gaborone: Botswana’s gross domestic product
(GDP) grew 4.3% in 2016, mainly due to an improvement in the nation’s diamond
trade, the Bank of Botswana said last week.
Kolkata: The $5 an ounce discount in the
gold market has reduced sharply as bullion banks have stopped importing on
consignment basis until clarity emerges on GST treatment over such imports,
claimed a Kolkata based bullion dealer. "Banks prefer to wait and see
until after July 1 when GST kicks in," said Harshad Ajmera, Kolkata based
bullion dealer.
Moscow: Russia’s Alrosa, the world's top
diamond producer by output, said Tuesday it found a 65.75-carat precious rock
at the Jubilee kimberlite pipe of its Aikhalsky Mining unit in Yakutia,
northeast Russia.
New York: A clear improvement in the
diamond trade at the end of last year has petered out since the start of 2017
due to disappointing US economic growth and consumer spending in Q1 which has
weighed on end-demand, as well as lower consumption in Hong Kong and Macau has
also negatively affected demand for diamond jewellery according to company
reports from main jewellers in the region, said ABN AMRO Bank in a report.).
Toronto: Rio Tinto has partnered with
mineral exploration group Shore Gold to develop a diamond mine in Canada.
Johannesburg: Smugglers are using
social-media platforms such as Facebook and WhatsApp to get diamonds out of the
Central African Republic (CAR) and into international markets, Global Witness
claimed in a report last week.
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-228x228.jpg "Jewellers Try to Sell-Off Old Stock Before GST Roll-Out")
