NEWS

India Sets Up Trade Disciplinary Committee

India Sets Up Trade Disciplinary Committee

Mumbai: A new disciplinary committee will deal with misconduct in India’s diamond trade under plans approved by the Gem & Jewellery Export Promotion Council (GJEPC).


Sarine Technologies Decodes Colour & Clarity

Sarine Technologies Decodes Colour & Clarity

Ramat Gan: Sarine Technologies' New Ground-breaking Clarity and Colour Technology Will Revolutionize the Global Diamond Industry says the company Sarine CEO Mr. Uzi Levami, "Once again, Sarine introduces ground-breaking technological innovation into the global diamond industry — technology that will revolutionize the way the diamond industry and consumers perceive Clarity grading, and transform the polished sourcing and sorting process.



Israel Gives Diamond Trade Time to Come Clean

Israel Gives Diamond Trade Time to Come Clean

Ramat Gan: Diamond companies in Israel have been granted another two months to voluntarily disclose their assets, inventory and unreported income to the Tax Authority, reports Rapaport.


Normalcy Expected Soon in Jewellery Market

Normalcy Expected Soon in Jewellery Market

Mumbai: India's USD 45 billion jewellery market has been struggling over the last 50 days, post the government’s announcement of demonetisation on November 8. However, the industry has not seen much respite from slack demand even as the deadline for demonetisation ended on 30th December 2016.


BIS Revises Jewellery Hallmarking Standards

BIS Revises Jewellery Hallmarking Standards

Mumbai: The Bureau of Indian Standards (BIS) has announced that from January 1, 2017, all hallmarked gold jewellery will have gold caratage stated on the piece in addition to the fineness of the metal which is currently marked.


Indian Banks Slash Rates as New Year Gift

Indian Banks Slash Rates as New Year Gift

Mumbai: The country’s largest bank State Bank of India (SBI) announced a steep interest rate cut in several years on Sunday, by reducing its marginal cost of funds based lending rate (MCLR) by 90 basis points (bps) across all maturities.


WFDB Supports Work of WDC at KP Meeting

WFDB Supports Work of WDC at KP Meeting

Antwerp: A team of World Federation of Diamond Bourses (WFDB) officials will be participating on behalf of the World Diamond Council (WDC) in events during the Plenary meeting of the Kimberley Process Certification Scheme (KPCS) which takes place in Dubai, UAE, from November 13-17. Other WFDB members will be attending the five days of meetings and discussions as observers. The events include a panel discussion as part of the Third Forum on Rough Diamond Evaluation hosted by KP Chair Ahmed Bin Sulayem, and a Special Forum on synthetics or man-made diamonds.

ALROSA’s Mir Diamond Mine Hits Full Capacity

ALROSA’s Mir Diamond Mine Hits Full Capacity

Moscow: Alrosa has brought the underground mine at its Mir diamond pipe to full capacity, according to Russian news service Interfax. Capacity for 1 million tons of diamond ore was reached at the end of December, and at that rate the Mir pipe can be mined for another 50 years, the company said in a statement.


U.S. Consumer Confidence Highest in 13 Years

U.S. Consumer Confidence Highest in 13 Years

New York: Consumer confidence climbed in December to the highest level since August 2001 as Americans were more upbeat about the outlook than at any time in the last 13 years, writes Bloomberg based on a report from the Conference Board, a New-York based independent business membership and research association working in the public interest.

Ashok Sancheti Re-elected as President of IDCA

Ashok Sancheti Re-elected as President of IDCA

New York: The Indian Diamond and Colorstone Association (IDCA) said its Board of Directors has unanimously reelected Ashok Sancheti as President.


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