NEWS
New Delhi: The Government of India is
likely to lower existing import duty on gold from 10% to 6%, reports CNBC-TV18
quoting agencies.
Mumbai: India Diamond Trading Centre
(IDTC), the only Special Notified Zone (SNZ) in the country commemorated its
first year of successful operations on 20th December 2016 with participation of
over 400 companies in 28 Diamond viewing sessions. The SNZ was created with an
objective of ease of doing business in India, making available regular supply
of rough diamonds from the International mining companies and save on time and
operational costs of the small and medium diamond manufacturers, omitting the
concept of middle-men thereby minimising commissions and eventually the cost.
Ramat Gan: Billionaire Israeli diamond
tycoon Beny Steinmetz has been placed under house arrest by an Israeli court,
as police continue to look into his alleged involvement in an international
money laundering and bribery case involving Guinea, according to Israeli media
reports.
Israeli police suspect Steinmetz of paying
off officials in the west African country. He is alleged to have paid millions
of dollars in bribes in order to promote his mining business.
New York: U.S. polished diamond imports
fell 3 percent to $2.09 billion in October, according to government data.
Polished imports by weight slid 6 percent to 1 million carats, while the
average price increased 3 percent to $2,071 per carat. Polished diamond exports
declined 2 percent to $1.3 billion, driving net imports down 5 percent to $794
million.
Harare: Zimbabwe’s First Lady Grace Mugabe
is allegedly involved in a nasty legal fight with Jamal Joseph Hamed, a gem
trader in the United Arab Emirates, over a diamond ring worth $1.35 million,
reports Rough & Polished.
Ramat Gan: The Israel Diamond Exchange
(IDE) ordered a dealer to cancel the sale of a rough diamond after he failed to
comply with new guidelines requiring sellers to disclose if a stone has
undergone value analysis using a Sarine Galaxy machine, reports Rapaport.
Hong Kong: The decline in Swiss watch
exports slowed in November as shipments to Hong Kong avoided the massive
decline seen in previous months.
Exports fell 5.6 percent to $1.8 billion
(CHF 1.86 billion) last month, the second narrowest drop of the year and an
improvement on October’s 16 percent plummet. November had one more working day
in 2016 than the same month last year, which had the effect of limiting the
decline, the Federation of the Swiss Watch Industry explained.
New Jersey: Multi-awarded global jewellery
retail chain Joyalukkas adds another milestone to 2016 with the opening of its
second showroom in the USA at Edison, New Jersey on 17th December 2016 at 11:00
AM. Inaugurated by Mr. Thomas Lankey, Mayor of Edison, New Jersey, in the
presence of Mr. Antony Jos, Director, Joyalukkas Group; Aniyan George, KCCNA
President; Jiby Thomas, FOMAA Secretary; Bishop Joy Alappatt, Syro Malabar
Diocese North America; Dilip Verghese; Francy Verghese, GM-Joyalukkas USA
Operations and other dignitaries. The inauguration was a resounding success,
with many local VIPs and dignitaries as well as company executives in
attendance. After the overwhelming response received from their first showroom
in Houston. The opening of their second showroom in New Jersey is part of the
Group’s aggressive expansion plans, which also include the opening of a third
showroom in the USA in Chicago in the next few months.
Antwerp: This year, the Antwerp World
Diamond Centre (AWDC), representing the Antwerp diamond community, decided not
to send out season’s greetings gifts or cards. Instead, 16 diamond ambassadors
rolled up their sleeves and volunteered at the local Antwerp charity project
“Moeders voor Moeders”, an organization which helps young families facing
financial difficulties. AWDC will share its season’s greetings video from their
day at Moeders voor Moeders on social media. For each Share and Like, the
organization will make a donation to the Moeders voor Moeders charity project.
Ramat Gan:
After months of intensive negotiations the Israeli Diamond Industry has
finalized the terms of an agreement with the Israeli Tax Authority. Today the
boards of directors of the Israel Diamond Exchange (IDE) and the Israel Diamond
Manufacturers Association (IsDA) unanimously ratified the agreement. A special
assembly of IDE members today also endorsed the new arrangement.
Showing 4011 to 4020 of 4113 (412 Pages)
