New Wedding Collection launched

This wedding season Reliance Jewels is all set to make the special occasion momentous not only for the bride and groom, but for the entire family. It has unveiled its exclusive ‘Wedding Collection’ celebrating the grandeur and exquisite designs.

The new collection showcases Bridal sets in Diamond and Gold, Statement Earrings, Rings with a blend of Gold, Colored Gemstones and Diamonds for every special moment. Weddings are the biggest family celebrations and jewellery is an essential part of any wedding. Bridal jewellery is selected with great love and these moments are perfectly captured by Reliance Jewels in its new collection.

The GPHG at Dubai Watch Week

On the eve of its 20th anniversary, the Grand Prix d’Horlogerie de Genève (GPHG) is affirming its commitment to openness and innovation by announcing the creation of an international watch industry Academy, operational as of May 2020.

This major initiative, in line with the unifying mission of the GPHG and supported by the City and Canton of Geneva, will invite all stakeholders in the sector who believe in the shared destiny of international watchmaking to take part in the various stages of watch selection process.

Simplified Patents regime for Start-ups

The Union Minister of Railways and Minister of Commerce & Industry, Shri Piyush Goyal has said the Government has simplified the Patents regime for Start-ups, MSMEs among others to encourage innovation. He assured the Department of Industrial will extend all support to new and emerging enterprises.

KP failed to reach consensus on scope

The World Diamond Council (WDC) reiterated its commitment to continuing to advocate for change after government representatives failed to reach consensus on a strengthened scope for the Kimberley Process (KP) during the 2019 KP Plenary in the Indian capital.

“While the KPCS continues to fulfil an important function, the failure of the political process to achieve consensus was a missed opportunity to enhance the effectiveness of this foundation stone of integrity in the diamond business. The KPCS has been an absolutely critical element in maintaining peace in producing countries through increased traceability of rough diamond trade, and we must redouble our efforts to strengthen its impact,” said WDC President Stephane Fischler.

Gemfields auction raised USD 27.2mn

Gemfields announces the results of an auction of higher quality rough emeralds held in Singapore from 18‐21 November 2019. The emeralds were extracted by Kagem Mining Ltd in Zambia. The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction.

The auction saw 48 companies placing bids and generating total revenues of USD 27.2 million with an overall average value of USD 85.26 per carat. The auction saw 88% of the offered carats being sold or 87% of the number of lots offered.

Platinum supply remained lower by 8% in Q3

Recently World Platinum Investment Council (WPIC) released their edition of Platinum Quarterly for Q3 and also released key data. According to the revealed key data from the study of Platinum Quarterly considers platinum supply and demand developments for the third quarter of 2019.

LGD remained a key at CIBJO Diamond Commission

Laboratory-grown or synthetic diamonds and CIBJO’s new Laboratory-Grown Diamond Working Group was the main subject on the minds of participants in the meeting of the Diamond Commission. President Udi Sheintal asked the audience how they believed the Diamond Commission should cooperate with the new working group.

Christie’s Important Jewels Auction on November 27

Our 27th November Important Jewels sale brings together a diverse array of antique, modern and signed jewellery including a rare medieval sapphire ring, important pearl earrings and a ruby locket from direct descendants of Eugenie, the last Empress of France, tiaras and elegant jewels from the collection of the late Lady Grantchester, together with a spectacular Art Deco Fob Watch by Cartier and two extraordinary mid-20th century diamond jewels all from a Royal House.

Exemptions for Development to MSMEs

Under Goods and Services Tax (GST) Act, Micro & Small units with turnover up to Rs. 1.5 crore are allowed to avail benefits under the composition scheme. Ministry of Micro, Small and Medium Enterprises (MSME) has launched the Interest Subvention Scheme for new and incremental credit to MSMEs under which 2% interest subvention is provided to all eligible units having Udyog Aadhar Number (UAN) and GST registration.

Two more +100 ct diamonds recovered at Mothae

Lucapa Diamond and the Government of the Lesotho reported the recovery of two more +100 carat diamonds from the Mothae kimberlite mine in Lesotho. The 220 carat stone is the largest of the three +100 carat diamonds recovered to date from Mothae since commercial production commenced in January 2019.

The 220 carat and 127 carat diamonds were recovered from the treatment of recovery tailings. While the two diamonds are not of high-quality, they continue to underline the large-stone nature of the Mothae deposit. Mothae continues to perform well in its first year of commercial production, with another monthly production record of 3,096 carats in the month of October.