NEWS

Initiatives to improve Banks

Initiatives to improve Banks

Over the last four Financial Years, the Government of India has taken comprehensive steps to strengthen the Public Sector Banks (PSBs), under Government’s 4R’s strategy of recognising NPAs transparently, resolving and recovering value from Stressed Accounts through clean and effective laws and processes, recapitalising banks, and reforming banks through the PSB Reforms Agenda.

 

Under recapitalisation, over the last three Financial Years, PSBs have been recapitalised to the extent of Rs. 2.87 lakh crore, with infusion of Rs. 2.20 lakh crore by the Government and mobilisation of over Rs. 0.66 lakh crore by PSBs themselves. Details of capital infused in PSBs by the Government are at Annex. Besides recapitalisation, other steps taken by the Government to improve the condition of banks include, inter alia, the following:

 


Rough diamond output set to tumble in Australia

Rough diamond output set to tumble in Australia

Australia’s rough diamond output will decline to just 137,000 carats, from the current level of 14.2 million carats, following the expected closure of Western Australia’s Argyle mine in 2021, according to GlobalData, a leading data and analytics company.

 

Australia’s supply of rough diamonds had begun to rely entirely on the output from Argyle after the suspension of Ellendale mine in 2015, following the collapse of Kimberley Diamond Company in the same year. Vinneth Bajaj, Senior Mining Analyst at GlobalData comments, “The Western Australian government, which has conducted rehabilitation work at the Ellendale mine, is now seeking for a new operator to re-start mining activities.

 


 

2019 Dignitary Awards Israel honors Avraham Eshed

2019 Dignitary Awards Israel honors Avraham Eshed

Avraham Eshed, a veteran Israeli diamond manufacturer, named an Israel Diamond Industry Dignitary for the year 2019. The biennial Israel Diamond Industry Dignitary Awards aim to recognize and honor those men and women who have advanced and promoted Israel’s diamond industry, at home and abroad.

               

Eshed, who is both a manufacturer of large diamonds and high-value colored gemstones, follows in the footsteps of his late father Eliyahu Eshed, who was named an Israel Diamond Industry Dignitary in 2006. Avraham Eshed honored together with several other distinguished colleagues, during a ceremony on July 28, at the Diamond Theater, in the Israel Diamond Exchange complex.

 


Three diamond tender held at DDE

Three diamond tender held at DDE

The Dubai Diamond Exchange (DDE), a subsidiary of DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, announced today the successful completion of three rough and polished diamond tenders hosted between 16 and 23 July 2019.

 

Over 200 companies convened in Almas Tower to analyse and value the stones with the latest industry tools, technology and software. The three separate tenders were hosted by Rapaport, Stargems and Trans Atlantic Gem Sales (TAGS). On offer were both rough and polished diamonds. The high value of stones sold at the tenders reflects the strength of Dubai’s diamond trade.


Three diamond tender held at DDE

Three diamond tender held at DDE

The Dubai Diamond Exchange (DDE), a subsidiary of DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, announced today the successful completion of three rough and polished diamond tenders hosted between 16 and 23 July 2019.

 

Over 200 companies convened in Almas Tower to analyse and value the stones with the latest industry tools, technology and software. The three separate tenders were hosted by Rapaport, Stargems and Trans Atlantic Gem Sales (TAGS). On offer were both rough and polished diamonds. The high value of stones sold at the tenders reflects the strength of Dubai’s diamond trade.


LOI to Acquire Gold Portfolio

LOI to Acquire Gold Portfolio

Nexus Gold Corp announces that it has entered into a letter of intent (LoI) with Aurem Resources SARL, an arms'-length party, pursuant to which it will look to acquire the rights to any or all of three exploration permits, totaling up to 4,102 square kilometers (over 1,500-sq miles), located in Gabon, West Africa. If completed, the Permits would form part of the Company's existing portfolio of exploration stage gold projects in West Africa.

 

The project portfolio consists of three different concessions, each encompassing between 1,200 and 1,500-sq kms, in Gabon, which is located on the west coast of Africa and is serviced by excellent infrastructure including a deep-water port at the capital city of Libreville. The projects are ideally located within 300 km of Libreville. The permits pursuant to this LoI are currently under application and the Company anticipates they will be issued shortly. Gabon has a proven investor friendly environment with a large oil and gas industry being present over several decades and is considered underexplored for precious metal deposits compared to other countries in the region.

 


HW’s the Ocean Collection

HW’s the Ocean Collection

A modern balance of sporty elegance and the flawless execution of watchmaking’s most revered complications.

Complicated watchmaking at Harry Winston finds its most contemporary expression in the Ocean Collection, where sophisticated mechanisms and the brand's signature excentered dial designs are the hallmarks of Haute Horlogerie for the modern era. The Ocean Collection includes timepieces of technical sophistication in luxurious gold cases, and in striking combinations of gold and Zalium.

 


Strict deal with fugitive!

Strict deal with fugitive!

The Government of India issued directions to deal with wilful bank loan defaulters or fugitive economic offenders. For this a Look Out Circular(LOC) can be opened by the Bureau of Immigration in respect of Indian citizens and foreigners on the request of an authorized originator, which includes an officer not below the rank of Deputy Secretary to the Government of India; or an officer not below the rank of Joint Secretary in the State Government; or District Magistrates; or Superintendents of Police; or designated officers of various law enforcing and security agencies; or designated officer of Interpol; or Chairman/Managing Director/Chief Executive of all Public Sector Banks; or as per directions of any Criminal Court in India. 

 


Rough recoveries up by 34% at Firestone

Rough recoveries up by 34% at Firestone

Firestone Diamonds provides its quarterly update on operations at its Liqhobong Diamond Mine for the quarter ended 30 June 2019 (Q4 of the Company's 2019 FY), it's performance compared to market guidance for FY 2019, and guidance for FY 2020.

 

According to their highlights for 4Q ended 30 June 2019 says, Diamond recoveries of 208 572 carats, 34% higher than Q3 of 155 206 carats. Notable recoveries of a 72 carat yellow makeable diamond, a 22 carat makeable white diamond and an 11 carat fancy light-pink diamond.

 


BVC Foundation Plants Over 1000 Trees

BVC Foundation Plants Over 1000 Trees

B.V. Chinai Charitable Trust (BVC Foundation), a philanthropy arm of BVC Ventures organized its annual tree plantation drive at the Mother Teresa's Home for the Elders to take a step towards protecting and preserving the environment. The initiative saw participation from Team BVC and kids which supported the drive with the novel intent of increasing the green cover of the beautiful city by planting over 500 saplings in the premises of the old age home.

 

BVC Foundation also donated 500 Fruit-bearing trees in Aarey Milk Colony in Goregaon, Mumbai for its original inhabitants. These plants were provided by Mission Green Mumbai founded by Mr Subhajit Mukherjee which is the largest plantation drive for a green and pollution-free Mumbai.

 


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