80K Micro Enterprises to be assisted

In a meeting held yesterday chaired by Shri Nitin Gadkari, Minister of MSME, and Smt. Nirmala Sitharaman, Finance Minister with senior management of all Banks, some of the key schemes of Ministry of MSME which generate large number of jobs with low capital investment were reviewed.

The focus of the meeting was on the Prime Minister’s Employment Generation Programme (PMEGP), a flagship scheme of the Ministry of MSME, and Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). In addition, the issue of restructuring of stressed loans to MSMEs was also discussed to find a way forward to support MSMEs.

2020 production guidance is 32-34 million carats

Markets:

A range of factors created significant challenges for rough diamond demand in 2019: in late 2018, stock market volatility and US-China trade tensions resulted in lower than expected holiday retail sales, which led to higher than anticipated stock levels in the industry’s midstream at the start of 2019.

Throughout the course of 2019, the midstream inventory position was under further pressure due to the closure of some US 'bricks and mortar' retail outlets, an increase in online purchasing (where inventory levels are lower), and retailers increasing their stock held on consignment. Tighter financing also affected the midstream’s ability to hold stock, all of which resulted in lower demand for rough diamonds.

Upturn Mineral Resources at the Martha Project

OceanaGold Corporation announces an updated mineral resource estimate for the Martha Underground Project at the Company's Waihi Gold located in New Zealand.

Mick Wilkes, President and CEO, "The Martha Underground resource continues to grow following further investments in exploration drilling in 2019. Infill and extensional drilling has resulted in an additional 440,000 ounces of gold accompanied by an increase in average grade of both Indicated and Inferred resource categories. The increase in resources from last year underpins the ten-year mine life that we have targeted for the Martha Underground."

1.5 mn Oz of gold production untill 2022 at Yamana

Yamana Gold provides 2020, 2021 and 2022 production, and 2020 cost guidance. 2020-2022 production and cost outlook says, the guidance values noted above reflect the production mid-point within a normal range of +/- 2% for the 2020-2021 period. As guidance becomes less predictable three years out, in 2022, a greater allowance of +/- 3% is provided.

The Company expects to continue its established trend of delivering approximately 54% of production in the second half of the year compared to the first half, along with quarterly sequential increases in production.

Eldorado produced in 4Q over 118K Oz of gold

Eldorado Gold Corporation announces the Company’s fourth quarter and full year 2019 preliminary production results. The Company will provide its full year 2020 guidance in conjunction with its 2019 Year End Results at the end of February.

Eldorado also announces that Executive Vice President (EVP) and Chief Operating Officer (COO) Paul Skayman is retiring and is pleased to confirm that Joe Dick has been hired as the Company’s new EVP and COO.

Her Story launches Solitaire Rings

It’s not often that one finds the perfect solitaire ring to match a unique personality; one that captures a distinctive spirit!

Modern precious jewellery brand Her Story launches a new range of exquisite solitaire rings that tell the story of who she is, beyond the world’s perception of her.

The Heart of Blue Solitaire Ring Set and Solitaire Duo Ring both capture the calming aura of a woman whose presence uplifts those around her, through the azure hues of Jodhpur’s bylanes. The striking jewels feature rings with intricate colour-stone inlay work of lapis and turquoise that frame solitaire rings with exquisite GIA-certified brilliant-cut diamond centres.

Celebrities sported Jewellery at BAFTAs

The BAFTA’s recently took place in London, and with actual royalty in attendance, namely Kate Middleton and Prince William, celebrities donned their absolute best for the formal event.

With the world moving towards sustainability, and rightly so in this crucial hour of need, the BAFTA’s were not left behind in donning the shades of slow fashion.  Be it the stunning robes or the sparkling Jewellery that the celebrities sported, the 2020 BAFTAs were oozing with the idea of sustainability and boy it was a treat to the eyes!  Here are some of the best looks of the celebrities who set the red carpet on fire with their exquisite diamond jewellery.

51st America the Beautiful Quarters

United States Mint to Launch 51st America the Beautiful Quarters Program Coin on February 3, 2020.

Year 2020 America the Beautiful Quarters Coin National Park American Samoa Uncirculated Reverse is to launch.

The United States Mint will participate in an event to celebrate the release of the America the Beautiful Quarters Program coin honoring the National Park of American Samoa. The coin’s reverse image showcases a Samoan fruit bat mother hanging in a tree with her pup. Following the ceremony, $10 rolls of newly minted National Park of American Samoa quarters will be available for exchange.

GJC casted view on post Budget 2020

Mr. Anantha Padmanaban, Chairman, All India Gem & Jewellery Domestic Council said, “This Budget definitely has few positives like a new simplified GST return form, which is being introduced from April 1, 2020 and Vivaad se Vishwas. GJC welcomes Factor Regulation Act 2011 to be amended to enable NBFCs to extend invoice financing to the MSMEs through TReDS.

The Finance Minister’s intent to reduce the compliance burden on small MSME retailers, traders, shopkeepers and the raising of the turnover threshold for audit from the existing Rs. 1 crore to Rs. 5 crore is positive for jewellery businesses.

Funding NBFCs under Credit Guarantee Scheme

A number of steps have been taken since 2018 to ease the liquidity position of Non-Banking Financial Companies (NBFCs) and to increase credit flow. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha.

The Minister of State stated that, including, inter-alia, the following steps, inter alia, have been taken, 1: Overall positive liquidity in the system has been ensured since June 2019 through open market operations conducted in addition to regular Liquidity Adjustment Facility auctions.