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.
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.
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.
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.
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.
New York: The Indian Diamond and Colorstone
Association (IDCA) said its Board of Directors has unanimously reelected Ashok
Sancheti as President.
New York: Kimberley Process (KP) Chair
Ahmed Bin Sulayem has been honoured by the Diamond Dealers Club (DDC) of New
York for contributions to supporting the sustainable growth of the global
Mumbai: Just three Indian gold loan
companies have more gold in their vaults than many sovereign nations, according
to recent reports in the Indian media!
The three, Muthoot Finance, Manappuram
Finance and Muthoot Fincorp which are the largest in the business, have seen
their reserves rise by as much as 35% over the last two years, and today have
as much as 263 tonnes of gold stocks between them, the reports say.
Mumbai: The Gem & Jewellery Export
Promotion Council (GJEPC), had, some time back launched MyKYCBank.com for the
benefit of the industry. The GJEPC is now holding training sessions for
representatives (who are typically involved in the KYC process) of
participating member companies. These sessions are planned to be held twice a
week – every Tuesday and Thursday at 4.00 pm -- at the GJEPC’s Conference Room.
Mumbai: The Platinum Guild International
(PGI) has predicted that Indian demand for platinum jewellery would grow by
double digits next year and Japanese consumption will stay strong.
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