GDP Growth Revised Down to 7.2% by Ind-Ra

Mid-year FY19 Outlook Report by Analysts, Sunil Kumar Sinha, Devendra Kumar Pant, Bansi Madhavani & Amit Jain says Inflation, NPAs, Currency& Protectionism like factors are Major Headwinds!       

India Ratings and Research (Ind-Ra) has revised down its FY19 gross domestic product (GDP) growth to 7.2% from its earlier forecast of 7.4%. The key reason for this is the upward revision in the estimation of inflation for FY19 due to (i) increasing crude oil prices and (ii) the government’s decision to fix the minimum support prices of all kharif crops at 1.5x of the production cost (A2+FL).

Recovery of 138 carat diamond by Gem Diamonds

Gem Diamonds Limited announces the recovery of a 138 carat, top white colour Type IIa diamond from the Letšeng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world.  

This recovery is now the twelfth diamond of over 100 carats in 2018, and a record for the Company in terms of the number of diamonds of over 100 carats recovered in a year. The Letšeng mine is located in the Maluti Mountains of Lesotho and is renowned for its recovery of large, high quality, exceptional Type II diamonds.

Suspension of processing mineral rights in Sierra Leone

The Ministry of Mines and Mineral Resources and the National Minerals Agency hereby inform the public that, in view of ongoing reforms under the New Direction to transform the minerals sector and ensure that it delivers maximum benefits to Sierra Leoneans, the National Minerals Agency has suspended the processing of applications for mineral rights.

This measure is to enable the Agency to clean up the mineral rights map and implement a vetting process that will ensure that Government only gives mineral rights to credible investors with proven track record. The NMA will inform the public when this process is completed, and normal processing of applications, via a thorough vetting process, will resume. We regret any inconvenience this may cause.

WFDB Asian Summit in Vladivostok

EC meeting set to be well attended on August 26-27

The World Federation of Diamond Bourses (WFDB) has announced that its Asian Summit/Executive Committee (EC) meeting is set to be well attended, and will feature a wide range of representatives. The meetings take place in Vladivostok, Russia, on August 26-27, and are hosted by the Moscow Diamond Bourse (MDB). Russian diamond miner Alrosa is sponsoring the meetings in the Far Eastern city which is becoming increasingly important as a base for diamond sales.

Presidents from bourses in the region will be attending the Asian summit, which is seen as a more intimate setting for the discussion of issues pertaining to diamond exchanges in that part of the world. Meanwhile, members of the WFDB Executive Committee from across the world will be attending their meeting in preparation for the World Diamond Congress in Mumbai in October.

CIBJO releases Marketing & Education Special Report!

With fewer than nine weeks to go to the opening of the 2018 CIBJO Congress in Bogotá, Colombia, on October 15, 2018, the first of the CIBJO commissions' Special Reports has been released. Prepared by the CIBJO Marketing & Education Commission, headed by Jonathan Kendall, the report considers the potential impact on the jewellery market of Generation Z, which includes people born after 1996, who are expected to account for about 40 percent of all consumers by 2020.

"For us the jewellery industry, it is essential to adapt strategies if we hope to succeed with Generation Z," writes Mr. Kendall. "Gone are the old media approaches of TV commercials, long-term PR plans and static messaging. Today it's all about fast delivery of interactive messages."

No Sexual Harassment of Women even at Private companies!

Disclosure of compliance under the Sexual Harassment of Women at

Workplace Act at Private companies now made Mandatory

In order to ensure safe workplaces for Women in the private sector, the Ministry of Women and Child had requested Hon’ble Minister for Corporate Affairs to mandate the disclosure regarding implementation of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act in the Directors Report of every company. Vide its notification dated 31.07.2018,the Ministry of Corporate Affairs has amended the Companies (Accounts) Rules, 2014, issued under Section-134 of the Companies Act, by inserting clause(X) as follows:-

35th IIJS arena booking reaches eight crores!

IIJS, Asia’s leading Gem & Jewellery trade exhibition organised

by GJEPC concludes providing healthy lifeline to trade at a crucial time!

Total booking volume up by 20% at 35th IIJS!

IIJS, Asia’s leading Gem & Jewellery trade exhibition organised

by GJEPC concludes providing healthy lifeline to trade at a crucial time!

The 35th edition of the India international Jewellery Show IIJS organised by GJEPC concluded in Mumbai today with a note of positivity and cheer for the entire trade. IIJS, a premium annual event received all round support with over 40,000 visitors from over 800 cities across 80 countries attending and previewing exhibitions of over 1300 exhibitors.

Jim Duffy, GM at Tracr

To increase scale and engagement with stakeholders

Tracr, the end-to-end diamond industry blockchain being developed by De Beers Group in collaboration with industry stakeholders, announces the appointment of Jim Duffy as General Manager to lead the next phase of the platform’s development.

Jim is joining Tracr as the platform starts to build greater scale, with more than $100 million worth of rough diamonds having been registered on the platform since the launch of the pilot in January 2018. Prior to this appointment, Jim led several tech start-ups and has worked both in large multinational technology companies and in the financial sector.

Second BDW scheduled!

BDB Progressing according to schedule!

The Bharat Diamond Bourse (BDB) in Mumbai said preparations are progressing according to schedule for plans to open registration for the second edition of the Bharat Diamond Week at the bourse. The Bharat Diamond Week will take place from October 8-10, following the success of the first edition held from April 23-25 where in excess of 1,000 visitors from India and across the world did business with 150 Indian exhibitors of polished goods.

BDB Vice-President Mehul Shah, who heads the Bharat Diamond Week project, said: “We learned many lessons from the first show earlier this year and we are working on implementing them in order to ensure that the next Diamond Week is even more successful.

2018 WDC registration opened up!

The World Federation of Diamond Bourses (WFDB) announces that registration has opened for the 2018 World Diamond Congress (WDC). The biannual meeting of the WFDB and the International Diamond Manufacturers Association (IDMA) will take place in Mumbai, India, from October 23 to 25.

WFDB President Ernie Blom said: “I am delighted that a dedicated website has been created for the World Diamond Congress by the Bharat Diamond Bourse which has agreed to host the 2018 Congress. It is critical that everyone planning to attend the Congress carries out the registration process, including hotel accommodation, as soon as possible to avoid disappointment.