NEWS

Social Media Used for Diamond Smuggling in CAR

Social Media Used for Diamond Smuggling in CAR

Johannesburg: Smugglers are using social-media platforms such as Facebook and WhatsApp to get diamonds out of the Central African Republic (CAR) and into international markets, Global Witness claimed in a report last week.


No Compensation If Jewellery Stolen from Bank Locker

No Compensation If Jewellery Stolen from Bank Locker

New Delhi: Do not expect any compensation for theft or burglary of valuables in lockers of public sector banks as the hiring agreement on the safe deposit boxes absolves them of all liability, according to media reports.


India’s Gold Import Reaches 2-Year High in May

India’s Gold Import Reaches 2-Year High in May

New Delhi: Gold import to India in May reached nearly a two-year high level at $4,958.6 million, 122 tonnes were imported – the highest since March 2015.


Zimbabwe Mining Co. Expects 150% Production Increase

Zimbabwe Mining Co. Expects 150% Production Increase

Harare: Mines minister Walter Chidakwa told the Zimbabwe parliament yesterday that the Zimbabwe Diamond Mining Company (ZCDC) still has 300 million tons of diamond ore to mine in Chiadzwa, reports NewsDay.


ALROSA Terminates 3 Executive Committee Members

ALROSA Terminates 3 Executive Committee Members

Moscow: On Thursday, the Supervisory Board of ALROSA decided to terminate the powers of three members sitting on its Executive Committee - Ilya Ryaschin, Sergey Pushkin and Valery Serov.


Endiama Surpasses 2016 Diamond Output Target

Endiama Surpasses 2016 Diamond Output Target

Luanda: Angola’s state-owned diamond mining company Endiama produced 9.21 million carats of diamonds last year, exceeding a target of 9 million carats set by the ministry of planning and territorial development.

Swiss Watch Exports Improving

Swiss Watch Exports Improving

Bern: Swiss watch exports jumped in May amid stronger demand from China and Hong Kong, the Federation of the Swiss Watch Industry reported Thursday.


GJF to Launch Adhigam Software For GST

GJF to Launch Adhigam Software For GST

Mumbai: All India Gems and Jewellery Trade Federation (GJF), national nodal trade body for the promotion and growth of trade in gems and jewellery across India, is planning for it’s series of GST seminars in Mumbai on 29th June, 2017 from 2pm to 6 pm, at Birla Matoshri Sabhagraha, Marine Lines, Mumbai. After receiving a large number of queries from industry stake holders, it will initiate panel discussions by team of Legal and GST experts and also officially launch the software “Adhigam” developed with support of Financial and IT experts to assist jewellers to migrate to GST (Goods & Transport Services) tax regime.


Gemfields May Accept “Unfair” Bid from Fosun

Gemfields May Accept “Unfair” Bid from Fosun

London: China's Fosun International has increased its offer for UK gemstone miner and Fabergé owner Gemfields to $323 million (£256 million), and Gemfields is encouraging its minority shareholders to accept the takeover bid despite considering it unreasonable, in order to avoid an even more “derisory” buyout bid from its largest shareholder, Pallinghurst Resources.


De Beers 5th Cycle Indicates Strong Demand

De Beers 5th Cycle Indicates Strong Demand

Gaborone: De Beers sold rough diamonds with a provisional value of $530 million in the fifth sales cycle (Global Sightholder Sales and Auction Sales) of 2017, indicating ongoing strong demand from the global industry.


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