Sodiam a net profit of US$27.1 in 2019 FY

Sodiam - National Diamond Trading Company of Angola closed the 2019 financial year with a net profit of US$27.1 million, despite the fact that the world market has entered a downward curve! During the period under review, Sodiam saw the costs of its operation decrease by 17%, maintaining the trend that started in 2018.

According to a press release sent to Angolan media, during this period, the company increased its tax contribution to about 21%. As it only traded 20% of its total production, a share conferred to it under current legislation, the net result did not perform as well as it did in 2018.

E-Office in all CGST and Customs

Shri M Ajit Kumar, Chairman, Central Board of Indirect Taxes and Customs (CBIC) launched the e-Office application in over 500 CGST and Customs offices across India here. The e-Office application was launched remotely in the presence of over 800 senior officers of CBIC. Dr Neeta Verma, DG, National Informatics Centre, (NIC) was also present.

Over 50,000 officers and staff will use this application making CBIC one of the largest Government departments to automate its internal office procedures. The launch of e-Office marks a fundamental change in internal office procedures which is so far based on manual handling of files and paper movement.

Over 100 diamond stones seized in Angola

At least one hundred and thirty one diamond stones were seized at weekend in the municipalities of Chitato, Capenda Camulemba and Cuango, Lunda Norte province, Angola. The seizure occurred during a joint operation of the Border Guard Police (PGF) and the Criminal Investigation Service (SIC) in the diamond mining areas along the borders.

According to a note from the National Police to which Angop had access Monday, 71 stones were seized in the municipality of Chitato, 59 in Capenda Camulemba and one in Cuango. The operation also resulted in the arrest of 30 immigrants, who were immediately repatriated.

May US Retail improved yet below YoY

Retail sales rose dramatically in May as retailers and other businesses closed by the coronavirus pandemic began to reopen, but remained well below spending levels seen during the same period a year ago, the National Retail Federation said.

“Today’s sales report is very encouraging news at a time when we need to focus on what will happen as retail doors opens once again,” NRF President and CEO Matthew Shay said during a live interview on CNBC’s Squawk Box program this morning. “For a sick economy, there is no better medicine than retailers responding to consumers who are ready to safely return to stores.

Diamond market India pays tribute to Arun Mehta!

Diamond Trade will remain closed in

Mumbai and Surat on June 16th

It is with profound sadness that we wish to inform you about the passing away of Arun R Mehta. Arunbhai, an industry stalwart and highly respected community leader was a guiding force and mentor to many. He was 80 and is survived by his wife Rajnika, son Russell and daughters Amita Samir Mehta and Alpa Nishit Kothari, his daughter in law Mona, and sons in law Samir Mehta and Nishit Kothari, along with many grand and great grandchildren.

BBB- Stable outlook rating for Alrosa

S&P Global Ratings international rating agency confirmed Alrosa’s BBB- investment grade credit rating with a stable outlook. The agency draws attention to the company’s consistently high profitability, its leading position in the diamond market and high-quality reserves, as well as prudent financial and dividend policies and high level of corporate governance.

A stable outlook reflects the agency’s confidence in relatively fast recovery of credit metrics in 2021-2022 after the weakening amid Covid-19 lockdowns, as the company acted proactively to limit the negative impact on its cash flows. Among measures taken, S&P Global Ratings highlights downward correction of the company’s capex program and production target.

Quality Council of India reviewed

Quality is going to define India’s future!

PiyushGoyal, Minister of Commerce and Industry has said that Quality is going to define India’s future. Reviewing the performance of the Quality Council of India (QCI) through the Video conference, Goyal said that Aatmanirbhar Bharat will grow and prosper on the basis of quality indigenous products and services. He said that quality consciousness will have to percolate to the level of the common man, and quality culture imbibed and cultivated in all aspects of our life.

High-Grade Gold Intercepts at the Bayacun Zone

Mako Mining Corp reports positive drill results from the Bayacun Zone within the Las Conchitas area of its wholly-owned San Albino-Murra property located in Nueva Segovia, Nicaragua.  The Las Conchitas area is located approximately 2.5 kilometers south of the fully permitted San Albino gold project currently under construction.

The goal of the 2020 drill program at Las Conchitas is to focus on the most promising zones of near surface, shallow dipping, high-grade gold mineralization in order to delineate a maiden resource estimate.  Since 2019, the Company has completed 65 shallow diamond drill holes totaling 4,351.70 meters within the Bayacun Zone, which is among the most promising zones within the Las Conchitas area.  A total of 15,052.75 m within 197 holes have been drilled at Las Conchitas since the start of the 2019-20 drilling campaign.

Business have permanently changed: Leibish

Polnauer Leibish, President-Leibish & Co inks & said, the genie is out of the bottle, something had to been done, something which cannot be changed or stopped. Our daily life and the way we do business have permanently changed. I used to think that the Aborigines had a big problem, if they buy a new boomerang they cannot just throw away the old one, it always comes back.

I realize today that even old habits can be changed. Many of us used to drive their offices in the city but today work from home. My son Itzik, The COO of Leibish US used to commute 3 hours a day to and from his Manhattan office.

Two-finger Serpent Bohème ring

Multi-motif ring set with

Round diamonds, in yellow gold

A jewelry collection dedicated to the iconic Boucheron serpent, protective spirit and symbol of eternity. Delicately sculpted and polished, gold enhances the brilliance of diamonds.