G20 focuses International Trade Disruptions!

In their brainstorming at Extraordinary G20 Leaders’ Summit on COVID-19 they also focussed upon, safeguarding the Global Economy. In their issued Statement, the Summit said:

Addressing International Trade Disruptions

Consistent with the needs of our citizens, we will work to ensure the flow of vital medical supplies, critical agricultural products, and other goods and services across borders, and work to resolve disruptions to the global supply chains, to support the health and well-being of all people.

We commit to continue working together to facilitate international trade and coordinate responses in ways that avoid unnecessary interference with international traffic and trade. Emergency measures aimed at protecting health will be targeted, proportionate, transparent, and temporary. We task our Trade Ministers to assess the impact of the pandemic on trade.

Signet Jewelers sales grew 0.6% in FY 2020!

Signet Jewelers Limited announced its results for the 13 weeks 4Q FY 2020 & of 52 weeks FY 2020 ended February 1, 2020.

According to the 4Q FY2020, same store sales grew 2.3% with North America same store sales up 2.9%. GAAP diluted earnings per share of $3.14, including the impact of restructuring charges and resolution of previously disclosed litigation, Non-GAAP diluted EPS of $3.671.

Christie’s is committed to reduce activities

As a global company, Christie’s is committed to doing its part to reduce non-essential business activities as we join together to fight the spread of the coronavirus pandemic. Our thoughts are with all of those directly affected, and our foremost priority is to act in the best interest of our local communities, our clients and our colleagues. 

In light of this, Christie’s has undertaken a global review of key dates relating to our upcoming auction schedule in the Americas and Europe. A first phase of sale date changes has been announced, and further calendar shifts will continue to be confirmed as appropriate.

G20 Safeguarding the Global Economy

Recently Extraordinary G20 Leaders’ Summit held and they carried brainstorming on Covid-19. G20 statement expressed several measures & Statement on COVID-19 said, “The unprecedented COVID-19 pandemic is a powerful reminder of our interconnectedness and vulnerabilities.

The virus respects no borders. Combatting this pandemic calls for a transparent, robust, coordinated large-scale and science-based global response in the spirit of solidarity. We are strongly committed to presenting a united front against this common threat.”

RBI initiates to ease financial stress

Recently Governor RBI issues a Statement - Seventh Bi-monthly Monetary Policy Statement, 2019-20 and initiated to ease of financial stress because of the ongoing scenario.

In view of the COVID-19 pandemic, the Monetary Policy Committee (MPC) decided to advance its meeting scheduled for 31st March, 1st and 3rd April 2020. It met on 24th, 26th and 27th March and undertook a careful evaluation of the current and evolving macroeconomic and financial conditions, and the outlook.

While COVID-19 separates us physically…

Stephane Fischler, WDC President inked & expressed out the ongoing scenario by saying that I write to you from the comfort of my home in Antwerp, which would seem an unremarkable fact were it not the last place I would ordinarily expect myself to be in the middle of a workday during the final week of March.

Under the heading, ‘While COVID-19 separates us physically, it unites the globe in terms of common experience’ he says further, Uncharacteristically, for quite a number of days we have been fortunate to enjoy a beautiful blue sky outside. The bright light streaming in is most welcome during these trying times.

Gem Diamonds to combat Covid19

Gem Diamonds Limited announces that, in line with the Lesotho Government's three week lock down strategy between 29 March and 21 April 2020, to combat the spread of the Covid19 disease, the decision has been taken to temporarily place the Letšeng mine on care and maintenance for this three week period.

For the period of the lock down, only essential maintenance will take place, with security and support staff performing rotation shifts at the mine.  The situation will be reviewed after three weeks. Gem Diamonds will continue to hold its recently announced flexible sales of diamonds during this period.

Market primer report published by WGC

Recently World Gold Council published the report, Market Premier from various aspects. Gold plays a prominent role in reserve asset management, being one of the few assets that is universally permitted by the investment guidelines of the world’s central banks. This is in part due to the gold market being deep and liquid – a key requirement of reserve asset managers.

This primer serves as an introduction to global official gold reserves and demand from central banks. It provides an overview of the level of gold held by these institutions; the drivers of demand; how demand has changed since 2009; and how demand may evolve in the future.

Vital role of silver metal in 5G!

Recently, the Silver Institute published the report, ‘Silver’s Role In A Future 5g Connected World’ with the Precious Metals Commodity Management LLC. The report says 5G is not just an incremental improvement over 4 G; it is the next major evolution of mobile communication technology.  It will massively improve download speeds and reduce latency, but more importantly, it will facilitate significant technological progress in a whole range of sectors, such as the Internet of Things and autonomous driving. 

The electronic components that enable 5G technology will rely strongly on silver to make the global 5G platform perform seamlessly.  In a future 5G connected world, silver will be a necessary component in almost all aspects of this technology, resulting in yet another end-use for silver in an already vast and versatile demand portfolio.

FM announces Rs 1.70 Lakh Crore relief

The Union Finance & Corporate Affairs Minister Smt. Niramla Sitharaman today announced Rs 1.70 Lakh Crore relief package under Pradhan Mantri Garib Kalyan Yojana for the poor to help them fight the battle against Corona Virus. While addressing the press conference here today, Smt. Sitharaman said “Today’s measures are intended at reaching out to the poorest of the poor, with food and money in hands, so that they do not face difficulties in buying essential supplies and meeting essential needs.”

The Minister of State for Finance & Corporate Affairs Shri Anurag Singh Thakur was also present besides Shri Atanu Chakraborty, Secretary, Department of Economic Affairs and Shri Debashish Panda, Secretary, Department of Financial Services. Following are the components of the Pradhan Mantri Garib Kalyan Package: