Industry & trade tycoon Arunkumar Ramniklal Mehta born in January 1940
passed away on June 14 in Mumbai. A man of inspiration lived up his life as ‘a
simple living & sparkling thinking’ throughout the life! One of the mammoth
personalities Arunbhai earned much of respect & honour than what he earned
from his business in the life!
his life he inspired numbers of new entrant diamantaires by facilitating
adequate guidance! In general he insists upon to go for needed diamond
education, manage proper capital upon commencement and to develop a leadership
quality to lead a team! These were the brilliant guidance for new entrant! He
was convinced that, established diamantaire must provide a space for new
generation that may add more sparkle in the business India!
of GST council
to Law & Procedure!
40th GST Council met under the Chairmanship of Union Finance & Corporate
Affairs Minister Smt Nirmala Sitharaman through video conferencing. The meeting
was also attended by Union Minister of State for Finance & Corporate
Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and
senior officers of the Ministry of Finance& States/ UTs.
GST Council has made the following recommendations on Law & Procedures
changes. Measures for Trade
in Late Fee for past Returns:
measure to clean up pendency in return filing, late fee for non-furnishing FORM
GSTR-3B for the tax period from July, 2017 to January, 2020 has been reduced /
waived as under: -
May 2020, Alrosa Group sold $40.1 million worth of rough and polished diamonds.
The revenue from rough diamond sales sequentially grew to $36.2 million and
from polished diamond sales −to $3.9 million.
total rough and polished diamond sales in January–May 2020 amounted to $959.9
million, including rough diamonds sales of $930.6 million, polished diamonds of
the National Diamond Trading Company of Angola recorded a net profit of US$27,1
million in 2019, despite the worldwide decline registered in the diamond
market. Sodiam underlines that last year the company saw its operating costs
drop by 17%, maintaining the trend started in 2018, while its tax contribution
increased by around 21%.
company's management considers that the financial year was positive, because it
ensured good results for Sodiam and for the State shareholder, although it
continues to manage the effects of a difficult business environment.
European Securities and Markets Authority has added DGCX to list of
trading venues that meet post-trade transparency requirements
Dubai Gold and Commodities Exchange (DGCX) announced that it has received a
positive assessment from the European Securities and Markets Authority (ESMA),
the EU’s securities markets regulator, and is now listed as a third-country
trading venue (TCTV) that meets the post-trade transparency requirements under
MiFID II and MiFIR.
Gold Mine updates its 2020 plans and activities aimed at exploration and bulk
sampling with the related highlights. Diamond drilling aims to focus on the
high-grade Vein No 1 structure. To date,
the structure has been traced for 500 metres on surface.
underground production between 1930 and 1935, from 2 shafts had an average
grade of 9.7 grams /tonne gold and 1.5 grams/tonne silver from 164,816 tonnes
of mineralized material (51,476 ounces gold in 181,744 tons at 0.28 oz/ton)
primarily from Vein No.2 underground.
to the Royal Canadian Mint, after the technological breakthroughs in rocketry
during WWII, the eyes of many were pointed to the sky in search of an
unidentified flying object (UFO). There were so many sightings that the US Air
Force launched a series of formal investigations beginning with Project Sign in
1948 and culminating in the largest ever government investigation of UFOs,
Project Blue Book, which ended in 1969.
banks remain positive on gold amid COVID-19 risks said Shaokai Fan, Director,
Central Banks and Public Policy, WGC. Our central banks team, in partnership
with Yougov, recently concluded the 2020 Central Bank Gold Reserves Survey.
year’s survey, which saw a jump in the number of responses, shows strong signs
of an increase in gold’s relevance for central bank reserve management: 20% of
respondents say that they plan to add gold to their reserves this year, up from
8% in the 2019 survey. The results also indicate shifts in investment attitudes
towards gold as the impact of the COVID-19 pandemic continues to affect the
global financial and economic outlook.
on, Global Supply Chains & Foreign Trade in a Post-COVID Paradigm by
Arindam Som, India Ratings and Research (Ind-Ra) believes that the COVID-19
pandemic will stoke a global policy narrative around the realignment of
cross-border supply chains particularly for the pivotal role played by the
Chinese economy. However, this realignment will take time to gain momentum.
ability of other emerging markets – including India – to benefit from a shift
away from China will be driven by two factors – first, the ability of these
markets to provide cost-competitive alternatives and second and the evolution
of the trade policy in various importing nations.
for the session on June 15, 2020 of UN
Global Compact Leaders’ Summit using RJC's code: VLS2020_RJC at: 13:00 - 14:00
to host a deep dive session at the UN Global Compact Leaders’ Summit, SDG Impact
through the Jewellery Industry on June 15, 2020 at, 13:00 - 14:00 (EDT). Register
for the session and UN Global Compact Leaders’ Summit using RJC's complimentary
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