NEWS

DPA to Scrutinize Synthetic Detection Machines

DPA to Scrutinize Synthetic Detection Machines

Mumbai: The Diamond Producers Association (DPA) plans to audit synthetics detectors to help the industry navigate its way around the broad choice of machines available on the market, reports Rapaport.


TBZ Reports 89% Increase in PAT

TBZ Reports 89% Increase in PAT

Mumbai: Tribhovandas Bhimji Zaveri (TBZ) yesterday reported a 89% surge in profit after tax (PAT) at Rs. 6.14 crore in the third quarter ended December 31 as compared to the same period of last year. The jewellery retailer's PAT stood at Rs. 3.25 crore in the corresponding quarter of previous year. The total income from operations during Q3 of FY17 grew 9.55 percent to Rs. 542.99 crore from Rs. 495.66 crore a year ago, the company said in a release here.


RBI Maintains the Lending Rates

RBI Maintains the Lending Rates

Mumbai: For the second time in a row, the Reserve bank of India (RBI) yesterday opted for a status quo in its key rates but shifted the stance of the monetary policy from ‘accommodative’ to ‘neutral’. “The decision of the Monetary Policy Committee (MPC) is consistent with a neutral stance of monetary policy in consonance with the objective of achieving consumer price index (CPI) inflation at 5 per cent by Q4 of 2016-17 and the medium-term target of 4 per cent within a band of +/- 2 per cent, while supporting growth,” it said.


GJSCI Implements RPL Program in SEEPZ

GJSCI Implements RPL Program in SEEPZ

Mumbai: Under the Pradhan Mantri Kaushal Vikas Yojna (PMKVY- 2), GJSCI commenced another ambitious project called Recognition of Prior Learning (RPL) Program in Seepz. The aim behind this initiative is to uplift the karigars of gems & jewellery industry in India. The event was inaugurated by Shri N.P.S. Monga I.T.S Development Commissioner, SEEPZ-SEZ (Maharashtra, Goa, Daman & Diu), in the presence of Mr. Gaurav Kapoor- Head Industry Partnerships & CSR-NSDC, Mr. Rajeev Pandya- President SGJMA, Mr. Vinod Khewalkar- Apprenticeship Advisor, Mr. Prem Kumar Kothari- Chairman GJSCI & Mr. Binit Bhatt- CEO GJSCI. The event was attended by the top management of various companies nestled in the SEEPZ premise.


WFDB Presidents to Work Closely With DPA

WFDB Presidents to Work Closely With DPA

Mumbai: World Federation of Diamond Bourses (WFDB) President Mr. Ernie Blom told the 2017 Presidents Meeting on Tuesday that the organisation will work in close cooperation with the Diamond Producers Association (DPA) in order to help boost its generic diamond marketing efforts. Mentioning reports that the DPA was looking to boost its annual budget from the current $6 million, he told the international gathering taking place in Mumbai this week that the increase in the DPA's budget will allow it to invest in more sophisticated and long-term programmes.


Rajesh Exports Continues Growth Process

Rajesh Exports Continues Growth Process

Mumbai (Report by Evaluate Research): Rajesh Exports reported results for the third quarter ended December which were in-line with our estimates reaffirming our confidence in the outlook of the company.  3Q sales came in at Rs. 644.9 billion vs. Rs. 498.2 billion in the corresponding quarter last year, an increase of 29% YoY.

  

Anglo American Boss Says Global Mining Industry Convalescing

Anglo American Boss Says Global Mining Industry Convalescing

Cape Town: Anglo American, which has an 85 percent stake in De Beers, said the past year brought some reprieve for the global mining industry.


De Beers Exploration Budget in ’17 Unchanged

De Beers Exploration Budget in ’17 Unchanged

Gaborone: De Beers will keep its diamond exploration budget steady at $35 million in 2017, the company said, while turning to new technology to improve the rate of discoveries.


JVC to Hold Series of Webinars

JVC to Hold Series of Webinars

New York: The Jewelers Vigilance Committee (JVC) will commence an important live webinar series beginning next month designed to help industry members to avoid legal risk and implement compliant business practices.


Gahcho Kué Recovers 68 Carat Diamond

Gahcho Kué Recovers 68 Carat Diamond

Toronto: Mountain Province Diamonds recovered the largest gem-quality stone yet from its Gahcho Kué mine in Canada.

At 67.87 carats, the octahedron-shaped rough diamond was extracted during the ramp-up of the mine, which was launched in September last year.


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