NEWS
Assocham Demands to Postpone GST Implementation
New Delhi: The Associated Chambers of
Commerce of India (Assocham) has demanded postponing GST implementation, saying
that taxpayers will find it difficult to comply with the provisions of the new
indirect tax regime as the IT network is not yet ready.
SDiX to Run Trials of First Blockchain Verification
Singapore: Singapore Diamond Investment
Exchange (SDiX), which was the world's first commodity exchange in physically
settled diamonds, in partnership with Kynetix, the physical commodity
digitisation expert, and Everledger, supplier of blockchain and distributed
ledger infrastructure, will soon complete the first part of a “Proof-Of-Concept
of a blockchain-based authentication and secure record-keeping service for
trading diamonds on a global commodity exchange”, the exchange announced.
De Beers Gahcho Kué Wins Five Awards
Toronto: Virtually the youngest significant
mine on the block – at three months into commercial production – Gahcho Kué hit
the jackpot at the annual NWT/Nunavut Mine Rescue Competition in Yellowknife
held on June 9-10, 2017, De Beers Canada announced.
Gitanjali’s Nakshatra World IPO Gets SEBI Nod
Mumbai: India’s capital markets regulator,
Securities and Exchange Board of India (SEBI) has granted approval to the
proposed initial public offering (IPO) planned by Gitanjali Gems for its
subsidiary Nakshatra World. The Draft Red Herring Prospectus for the proposed
IPO had been filed in March 2017 and obtained the required ‘observations’ on
June 9.
India's GST To Support Gold Demand
Mumbai: The World Gold Council (WGC) is of
the opinion that India's simplified taxation structure, the Goods &
Services Tax (GST) by the Government of India, will make the gold supply chain
more transparent and efficient and also boost India’s economy which in turn
will support gold demand.
7th National Jewellery Awards on 28th July
Mumbai: The 7th National Jewellery Awards (NJA)
2017 organized by All India Gems and Jewellery Trade Federation (GJF) will be
held on 28th July, 2017, in Mumbai, showcasing and recognizing the talent and
craftsmanship of the artisans in the gems and jewellery industry. Known for its
stand for craft, inspiration, passion, devotion and motivation for the
industry, NJA under the auspices of GJA is considered to be Industry's biggest
and widest award show that recognizes all sector of the industry and offers a
platform where true talent of the industry are appreciated and encourage to
stimulate growth and creativity in the industry. The last date of entry of this
prestigious award is 25th June, 2017.
Thailand Gems & Jewelry Fair 2017 Kicks Off
Bangkok: The Thai Gem and Jewelry Traders
Association (TGJTA) has partnered with public and private sectors to organize
the inaugural Thailand Gems & Jewelry Fair 2017 with the aim of
establishing Thailand as the world’s hub for gems and jewelry manufacturing and
trading. Representatives from AEC+6 industry associations, the Ministry of
Tourism and Sports, the Tourism Authority of Thailand and the Tourist Police
have showed their continuing support for the gems and jewelry industry at the
fair which is to be held from June 15 to 18, 2017 at the IMPACT Challenger 2,
Muang Thong Thani, Bangkok, Thailand.
Dominion Diamond to Auction Fancy Rough
Dominion Diamond Corporation has announced
an auction of fancy rough diamonds in cooperation with I. Hennig Tenders. The
auction viewings will take place in Israel, New York, and Antwerp. The auction
will commence with viewings in Israel from June 18-21, 2017; New York from June
26-28, 2017; and will conclude in Antwerp from July 3-7, 2017. Participation in
the viewings and the auction is by appointment only.
ALROSA-DMCC Discuss Cooperation Prospects
ALROSA President Sergey Ivanov and
Executive Chairman of the Dubai Multi Commodities Centre (DMCC) Ahmed Bin Sulayem
agreed upon enhancing cooperation in diamond trade, according to a press
release from ALROSA distributed on Wednesday. At a working meeting in ALROSA’s
headquarters in Moscow, Sergey Ivanov and Ahmed Bin Sulayem discussed options
for expanding ALROSA’s trading activities at the Dubai Diamond Exchange, a
trading platform within DMCC.
Chinese Firm Interested in Gemfields
Beijing: China’s Fosun conglomerate has put
in a rival bid to take over Gemfields, following an earlier offer by the
colored-gemstone miner’s largest shareholder.