Safeguard Indian enterprises from abuse

Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman said here that Competition Commission of India (CCI) should ensure Indian enterprises are safeguarded from abuse by entities operating from other jurisdictions. Smt. Sitharaman was speaking at the 10th anniversary celebrations of the CCI.

Smt. Sitharaman said that CCI must keenly observe market developments around the globe as borders no longer determine competition in a country. She said competition policy is a big challenge at the international level with the nature of operations of companies. Big corporate companies have jurisdiction in one country and ground operations elsewhere and this causes huge challenge for regulators.

Safeguard Indian enterprises from abuse

Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman said here that Competition Commission of India (CCI) should ensure Indian enterprises are safeguarded from abuse by entities operating from other jurisdictions. Smt. Sitharaman was speaking at the 10th anniversary celebrations of the CCI.

Smt. Sitharaman said that CCI must keenly observe market developments around the globe as borders no longer determine competition in a country. She said competition policy is a big challenge at the international level with the nature of operations of companies. Big corporate companies have jurisdiction in one country and ground operations elsewhere and this causes huge challenge for regulators.

The Future Place of Synthetic Diamonds

By Ernie Blom, President, WFDB: Reflecting back over the last 12 months, it must be clear to everyone active in the diamond trade that no subject has gained more attention than that of synthetic, or lab-grown, diamonds, in the future market and how consumers can differentiate this product from the real thing.

BDB sign MoU with Thai GJ associations!

The Bharat Diamond Bourse (BDB) has signed a memorandum of understanding (MoU) with Thailand's leading gems and jewellery (GJ) associations for participation in the Bharat Diamond Week (BDW) which takes place at the bourse from October 14 to 16.

BDB President Anoop Mehta and Vice-President Mehul Shah signed the agreement with Thai Gem & Jewelry Traders Association (TGJTA) President Porntiva Nakasai, and the Gems, Jewelry & Precious Metal Confederation of Thailand (GJPCT) President Somchai Phornchindarak.

Weak sentiment lowers Alrosa Q2

Alrosa, the world’s leader in diamond mining, announces its IFRS financial results for Q2 2019 that says, revenue in Q2 2019 went down by 19% QoQ to RUB 57 bn driven by a 22% QoQ decline in diamond sales volumes. A 21% YoY decline in revenue was attributable to lower sales (down 8% YoY) and changes in the sales mix.

EBITDA in Q2 2019 was to RUB 25 bn (down 20% QoQ and 39% YoY) on lower top line. EBITDA margin remained flat QoQ at 44%. Free cash flow in Q2 2019 amounted to RUB 2.4 bn (vs RUB 26 bn in Q1 2019) amidst a decline in operating cash flow, seasonal capex growth and increase in working capital.

H2 at Dynacor to produce 30% more!

Dynacor Gold Mines, a leading ore purchasing and processing corporation servicing artisanal and small-scale miners (ASM) in Peru, announced a new ASM plan to increase production to an annualized rate of 88-92,000 of gold. The Corporation is forecasting to produce 44-46,000 ounces of gold in the 2nd half of 2019, a 30% increase from the first half.

The plan focuses on four significant measures: 1. On May 2, 2019, Dynacor signed an ASM mining agreement authorizing a group of local miners to carry out underground extraction work on the Corporation’s Tumipampa exploration project. To date fifteen new high-grade deliveries of 544 tonnes averaging 1.44 oz/t Au have made its way to the Corporation’s ore-processing plant near Chala, Peru.

Narayan Jewellers bags two recognition

Narayan Jewellers by Ketan and Jatin Chokshi has been receiving accolades for their creative engineered designs across industry. The 79 year old jewellery brand from Vadodara, known for its aesthetics and creativity, Narayan Jewellers won the Award for, Diamond Earring of the Year 2019 at the 15th edition of Retail Jeweller India Awards 2019.

The beautiful earrings which won the award is designed uniquely to introduce the concept of pairing an ear cuff with a stud, making for incredibly rare modern and utterly luxurious design in the diamond.

Pocket friendly temple jewellery for festivity!

Izaara brings a great news for all the fashionistas who are gearing up for the festive season with pocket friendly Temple Jewellery Edition that starts at INR 999 Only. The fresh array is curated for fashionistas who love to look fabulous for less. The edition is all set to revolutionize the temple jewellery trend by making this unique art form accessible to the jewellery lovers who aspire to look ethnic chic.

The expressive but not expensive pieces capture carvings of gods and goddesses along with elements of South Indian temples that accentuate its traditional vibe. The edition brings an array of temple necklaces, haars, earrings and accessories that take inspiration from the rich culture of South India, the land of origin of Temple Jewellery.

Silk Road Music Collection at Sotheby’s

Sotheby’s HK Magnificent Jewels and Jadeite 2019 autumn sale highlighting The Dunhuang Pipa Necklace

Designed and mounted by Anna Hu, Set with a 100.02 carat Fancy Intense Yellow Diamond, estimated of HK$40-50 million or US$5-6.25 million.

Exhibition to be held during October 3 & to run up to October 6 & Auction scheduled on October 7 at Hall 1, Hong Kong Convention and Exhibition Centre.

Tango reports diamond sales

Tango Mining Limited provided an update on diamond sales results from the Oena Diamond Mine, Republic of South Africa.  During the most recent production period, 9 May to 7 July 2019, a total of 531.82 carats (230 diamonds) were produced, placed on tender and sold with an average price of US$1,382 per carat. This includes a 19.87 carat diamond which sold at US$4,358 per carat, a 49.6 carat diamond which sold at US$2,561 per carat and a 24.97 carat diamond which sold at US$1,101 per carat.