NEWS
No Compensation If Jewellery Stolen from Bank Locker
New Delhi: Do not expect any compensation
for theft or burglary of valuables in lockers of public sector banks as the
hiring agreement on the safe deposit boxes absolves them of all liability,
according to media reports.
India’s Gold Import Reaches 2-Year High in May
New Delhi: Gold import to India in May reached
nearly a two-year high level at $4,958.6 million, 122 tonnes were imported –
the highest since March 2015.
Zimbabwe Mining Co. Expects 150% Production Increase
Harare: Mines minister Walter Chidakwa told
the Zimbabwe parliament yesterday that the Zimbabwe Diamond Mining Company
(ZCDC) still has 300 million tons of diamond ore to mine in Chiadzwa, reports
NewsDay.
ALROSA Terminates 3 Executive Committee Members
Moscow: On Thursday, the Supervisory Board
of ALROSA decided to terminate the powers of three members sitting on its
Executive Committee - Ilya Ryaschin, Sergey Pushkin and Valery Serov.
Endiama Surpasses 2016 Diamond Output Target
Luanda: Angola’s state-owned diamond mining
company Endiama produced 9.21 million carats of diamonds last year, exceeding a
target of 9 million carats set by the ministry of planning and territorial
development.
Swiss Watch Exports Improving
Bern: Swiss watch exports jumped in May
amid stronger demand from China and Hong Kong, the Federation of the Swiss
Watch Industry reported Thursday.
GJF to Launch Adhigam Software For GST
Mumbai: All India Gems and Jewellery Trade
Federation (GJF), national nodal trade body for the promotion and growth of
trade in gems and jewellery across India, is planning for it’s series of GST
seminars in Mumbai on 29th June, 2017 from 2pm to 6 pm, at Birla Matoshri
Sabhagraha, Marine Lines, Mumbai. After receiving a large number of queries
from industry stake holders, it will initiate panel discussions by team of
Legal and GST experts and also officially launch the software “Adhigam”
developed with support of Financial and IT experts to assist jewellers to
migrate to GST (Goods & Transport Services) tax regime.
Gemfields May Accept “Unfair” Bid from Fosun
London: China's Fosun International has
increased its offer for UK gemstone miner and Fabergé owner Gemfields to $323
million (£256 million), and Gemfields is encouraging its minority shareholders
to accept the takeover bid despite considering it unreasonable, in order to
avoid an even more “derisory” buyout bid from its largest shareholder,
Pallinghurst Resources.
De Beers 5th Cycle Indicates Strong Demand
Gaborone: De Beers sold rough diamonds with
a provisional value of $530 million in the fifth sales cycle (Global
Sightholder Sales and Auction Sales) of 2017, indicating ongoing strong demand
from the global industry.
Panache The Luxury Expo Launches in Hyderabad
Hyderabad: The inaugural PANACHE THE LUXURY
EXPO will take place at Hitex Exhibition Centre, Hyderabad from 03-05 November
2017. The first of its kind event will be Powered by ‘The Federation of
Telangana and Andhra Pradesh Chambers of Commerce & Industry’ (formerly
known as FAPCCI).