Gold Price for SGB December 24-28

Government of India, in consultation with the Reserve Bank of India, Sovereign Gold Bonds 2018-19 (Series IV) will be opened for the period December 24-28, 2018. The issue price of the Bond during this subscription period i.e. December 24-28, 2018, shall be `3,119 (Rupees Three Thousand One Hundred Nineteen only) – per gram with Settlement on January 01, 2019, as also published by RBI on December 21, 2018. 

Engraving robots and printed jewelry

From February 22 to 25, 2019, Munich will stand at the center of the jewelry, timepieces and gemstones industry. Inhorgenta Munich will be attracting exhibitors and visitors from around the world. Once again, the international trade fair offers significant room for innovations. Engraving robots and printed jewelry are just some of these.

Next to pristine jewelry and the latest functions of smartwatches, people will also be able to see at Inhorgenta Munich 2019 how the jewelry, timepieces and gemstones industry is profiting from technological advances. In particular, Hall A2, Technology & Bijoux, offers visitors a wide spectrum of innovations with its more than 200 exhibitors. Aside from providers of store fixtures, security solutions and even trending jewelry, even workshops, refineries, techniques and electronic data processing will quickly become topics of conversation.

26 iconic creations of Boucheron

A winter garden at the heart of the Place Vendôme is the new expression space for Boucheron's creations, Journey between dreams and imagination to discover this new part of the Hotel de Nocé. Split across three levels and reciting the unfailing story that binds the Maison Boucheron with nature.

Under the glass roof bathed in light, watch as Serpent Bohème comes alive. The Maison Boucheron is reopening the gates of its Hôtel Particulier and invites you to a unique experience into the world of jewelry. Each creation finds its place in the various emblematic Salons of the 26 Vendôme.

Per capita India that grew over 30% in 2018

The share of Indian economy in world (measured as a ratio of India’s GDP to world’s GDP at current US$) increased from 2.6 percent in 2014 to 3.2 percent in 2017 (as per World Development Indicators database). The average share of Indian economy in world during 1960 to 2013 was 1.8 percent.

The average growth of the Indian economy during 2014-15 to 2017-18 was 7.3 per cent, fastest among the major economies in the world. Indian economy is projected to be the fastest growing major economy in 2018-19 and 2019-20 (International Monetary Fund October 2018 database). This is borne by GDP growth of 7.6 per cent in the first half of 2018-19.

DMCC joins GJEPC’s MyKYCBank platform

The Dubai Diamond Exchange (DDE)-a subsidiary of DMCC (Dubai Multi Commodities Centre) – signed a service agreement to join the MyKYCBank platform of the Gem & Jewellery Export Promotion Council. Mr. Ahmed Bin Sulayem, Executive Chairman of DMCC, and Chairman of DDE, and Mr. Pramod Kumar Agrawal, Chairman, GJEPC, were present at this momentous occasion.

The agreement enables DMCC members trading in diamonds, gold and precious stones to join the MyKYCBank platform. DMCC will be the fourth trade body to join MyKYCBank, following GJEPC, Bharat Diamond Bourse and the Antwerp World Diamond Council.

Government extends Rs1,06,000 crore to recapitalise bank

Government moves to enhance bank recapitalisation outlay to Rs. 1,06,000 crore in the current financial year

Government today moved proposal in Parliament for enhanced bank recapitalisation outlay from Rs. 65,000 crore to Rs. 1,06,000 crore in the current financial year to propel economic growth, cementing India’s position as the fastest growing economy of the world.

This would enable infusion of over Rs. 83,000 crore in the coming few months in Public Sector Banks (PSBs).

The enhanced provision is aimed at: (1)  Meeting regulatory capital norms, (2)  Providing capital to better-performing PCA Banks to achieve 9% Capital to Risk-weighted Asset Ratio (CRAR); 1.875% Capital Conservation Buffer and the 6% Net NPA threshold, facilitating them to come out of PCA.

Diamcor announces results of Q3 tender

Diamcor Mining announces the results of its final tender and sale of rough diamonds for the Company’s third fiscal quarter ending December 31, 2018.  The Company tendered 2,256.52 carats of rough diamonds recovered from resumed processing exercises at the Company’s Krone-Endora at Venetia Project, of which 1905.07 carats were sold for gross proceeds of USD $303,138.39, resulting in an average price of USD $158.60 per carat for the rough diamonds tendered and sold.  The balance of 351.45 carats will be tendered along with additional rough diamonds delivered by the Company in January of 2019. 

With this final tender of the fiscal quarter complete, total rough diamonds tendered and sold during the Company’s third fiscal quarter ending December 31, 2018 will be 7,162.21 carats, for gross proceeds of USD $1,401,322.01, resulting in an average price of USD $195.66 per carat for the period. 

Laurelton Diamonds Tender announced

Laurelton Diamonds Belgium BVBA will be holding the viewings of its next Tender of Rough and Sawn at the Antwerp Diamond Tender Facility (ATF), Belgium. The Tender will include a selection of White and Cape Rough parcels in sizes from +5cts to -7 in regular and high quality assortments in Cts and Grs.

There will also be a range of White Sawn Kaps offered in sized parcels from +3gr to -5 in mixed qualities. The tender is scheduled from Tuesday 7th January to Thursday & up to 17th January 2019 and viewing appointments can be booked. The tender will be held in the Antwerp Diamond Tender Facility (ATF), AWDC Building.

Desserts inspiring jewellery launched

Ratan Jewellers launches a whimsical dessert inspired range of jewellery. Inspired by desserts each design is lavish, deliciously-stylish yet high end and attainable.

Ratan Jewellers offers jewellery pieces made from diamonds that are every bit as durable as they are beautiful—a rare treat in a fast fashion-obsessed world. The collection includes stand out pieces that are classic, yet glamorous in style.  From eye catching bracelets and up to the lively and necklaces with an embodiment of grandeur and richness is accommodated.

U-Boat opens its Lebanese flagship store in Beirut

Just in the Beirut Souks, the major commercial district in Beirut, Italo Fontana cut the ribbon of the U-Boat boutique. The new store is precisely in Allenby Street where all the other high-end and jewellery boutiques are located.

The flagship store according to Italo Fontana is not only positioned in a strategic capital from the commercial point of view but more important on a cultural level, a bridge between different worlds and cultures. It is nestled in the heart of the newly developed, luxurious and glamorous Beirut Souks, in the vibrant financial, commercial and administrative hub of the capital.