NEWS
Ramat Gan: A replica of the Great Imperial
Crown of the Russian Empire, which was used in the coronations of all Russian
monarchs since Catherine the Great, will be exhibited from February 13 – 14,
2017 at the sixth International Diamond Week in Israel.
Kolhapur: With an aim to uplift the
artisans of age-old jewellery technique, the Gems & Jewellery Skill Council
of India brings students of preliminary round of Revive Design contest to the
silver town – Hupari. This initiative has been taken as a step to enable the
young talent to blend with the custodians of 200 year old technique of silver
jewellery making.
Mumbai: The 2017 Presidents Meeting taking
place in Mumbai this week heard at a special Finance Seminar on Monday about
the financing challenges facing the global trade and possible solutions,
including alternative forms of credit. Addressing the seminar, WFDB President
Mr. Ernie Blom said the meeting aimed to lay out the reasons that the diamond
trade finds it increasingly difficult to secure credit and possible solutions
that had not been discussed by diamantaires in the past.
Mumbai: In its golden jubilee year, the Gem
& Jewellery Export Promotion Council (GJEPC) presented the trade with two
wonderful opportunities to commence the Year’s buying season with the 10th
edition of Signature IIJS and the 4th edition of India Gem & Jewellery
Machinery Expo (IGJME). Mr. Ernest Blom (WFDB President) and Mr. Manoj Dwivedi
(Jt. Secretary, Union Ministry of Commerce, Government of India) inaugurated
Signature IIJS 2017 in the presence of Mr. Praveenshankar Pandya (Chairman,
GJEPC), Mr. Saunak Parikh (Convener – Exhibitions – National, GJEPC) and Mr.
Sabyasachi Ray (Executive Director, GJEPC). The distinguished dignitaries also
unveiled the Signature IIJS 2017 and IGJME catalogue and the GJEPC mobile app
on the momentous occasion.
Helsinki: Karelian Diamond Resources, an
Irish diamond exploration company focused on Finland, announced they had
received results from sampling undertaken by the Geological Survey of Finland
(GTK) which had been requested by the company. In one of the seven samples that
had been analyzed, a diamond had been discovered from the Kuhmo region of
Eastern Finland.
London: De Beers Diamond Jewelers on Old
Bond Street is considering leaving its flagship London store after almost 15
years, citing an increase in rent and business rates as motivating its decision
to relocate, writes The Telegraph. A spokesperson for the company told The
Telegraph increased costs related to its lease had led it to “explore
alternative options on Bond Street” for its move. Government plans to overhaul
the business rates system from April will hit central London retailers
particularly hard, with the capital’s most popular shopping street experiencing
an average increase in rates cost of 50 percent. Rhiannon Bury writes,
"Rents in Old Bond Street have also been at record levels in recent
months.
New York: The National Association of
Jewellery Appraisers (NAJA) in the United States has announced the first
voluntary background check program for members of a jewellery association.
NAJA has partnered with Global
Investigative Services Inc., which it said in a statement is an expert in the
background screening industry, to help administer the program.
“We are thrilled to offer this service to
our members and share with our industry and consumers our commitment to
transparency and excellence,” said Executive Director Gail Brett Levine. “We
owe it to consumers and value their loyalty and trust in us."
New York: The United Nations (UN) General
Assembly adopted a resolution that called for greater participation in the
Kimberley Process (KP) to prevent conflict diamonds from entering the
mainstream market.
Mumbai: Mr. G.V. Sreedhar, the outgoing
chairman of the All India Gems & Jewellery Trade Federation (GJF) said 1.25%-1.3%
is an ideal GST rate for gems and jewellery traders in the country. He averred
that his federation would like the GST to be around 1.25%, although the
industry demands differ ranging from 5%-18%. He pointed out, “We have been very
clear from the beginning that VAT should be 1%, and excise tax should be 1%,
put together it is 2%. But then 85-90% of our trade is out of excise and
considering that revenue, the total value of GST should be 1.2-1.3%. We have
given our representation to the government.”
Mumbai: The Reserve Bank of India (RBI) is
expected to hold key interest rates at its monetary policy review, its second
after November's note ban, in the wake of banks being flush with funds post-demonetisation
and a firming up of global oil prices.
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