NEWS

Government extends Rs1,06,000 crore to recapitalise bank

Government extends Rs1,06,000 crore to recapitalise bank

Government moves to enhance bank recapitalisation outlay to Rs. 1,06,000 crore in the current financial year

Government today moved proposal in Parliament for enhanced bank recapitalisation outlay from Rs. 65,000 crore to Rs. 1,06,000 crore in the current financial year to propel economic growth, cementing India’s position as the fastest growing economy of the world.

 

This would enable infusion of over Rs. 83,000 crore in the coming few months in Public Sector Banks (PSBs).

The enhanced provision is aimed at: (1)  Meeting regulatory capital norms, (2)  Providing capital to better-performing PCA Banks to achieve 9% Capital to Risk-weighted Asset Ratio (CRAR); 1.875% Capital Conservation Buffer and the 6% Net NPA threshold, facilitating them to come out of PCA.

 


 

Diamcor announces results of Q3 tender

Diamcor announces results of Q3 tender

Diamcor Mining announces the results of its final tender and sale of rough diamonds for the Company’s third fiscal quarter ending December 31, 2018.  The Company tendered 2,256.52 carats of rough diamonds recovered from resumed processing exercises at the Company’s Krone-Endora at Venetia Project, of which 1905.07 carats were sold for gross proceeds of USD $303,138.39, resulting in an average price of USD $158.60 per carat for the rough diamonds tendered and sold.  The balance of 351.45 carats will be tendered along with additional rough diamonds delivered by the Company in January of 2019. 

        

With this final tender of the fiscal quarter complete, total rough diamonds tendered and sold during the Company’s third fiscal quarter ending December 31, 2018 will be 7,162.21 carats, for gross proceeds of USD $1,401,322.01, resulting in an average price of USD $195.66 per carat for the period. 

 


Laurelton Diamonds Tender announced

Laurelton Diamonds Tender announced

Laurelton Diamonds Belgium BVBA will be holding the viewings of its next Tender of Rough and Sawn at the Antwerp Diamond Tender Facility (ATF), Belgium. The Tender will include a selection of White and Cape Rough parcels in sizes from +5cts to -7 in regular and high quality assortments in Cts and Grs.

 

There will also be a range of White Sawn Kaps offered in sized parcels from +3gr to -5 in mixed qualities. The tender is scheduled from Tuesday 7th January to Thursday & up to 17th January 2019 and viewing appointments can be booked. The tender will be held in the Antwerp Diamond Tender Facility (ATF), AWDC Building.

 


Desserts inspiring jewellery launched

Desserts inspiring jewellery launched

Ratan Jewellers launches a whimsical dessert inspired range of jewellery. Inspired by desserts each design is lavish, deliciously-stylish yet high end and attainable.

 

Ratan Jewellers offers jewellery pieces made from diamonds that are every bit as durable as they are beautiful—a rare treat in a fast fashion-obsessed world. The collection includes stand out pieces that are classic, yet glamorous in style.  From eye catching bracelets and up to the lively and necklaces with an embodiment of grandeur and richness is accommodated.

 


U-Boat opens its Lebanese flagship store in Beirut

U-Boat opens its Lebanese flagship store in Beirut

Just in the Beirut Souks, the major commercial district in Beirut, Italo Fontana cut the ribbon of the U-Boat boutique. The new store is precisely in Allenby Street where all the other high-end and jewellery boutiques are located.

 

The flagship store according to Italo Fontana is not only positioned in a strategic capital from the commercial point of view but more important on a cultural level, a bridge between different worlds and cultures. It is nestled in the heart of the newly developed, luxurious and glamorous Beirut Souks, in the vibrant financial, commercial and administrative hub of the capital.

 


Trade promotion bodies in 15 countries

Trade promotion bodies in 15 countries

Union Minister of Commerce &Industry and Civil Aviation, Suresh Prabhu, said that the Ministry is examining the proposal to set up trade promotion bodies in 15 countries to promote exports of SMEs from India. Suresh Prabhu was speaking at the inaugural session of the 15th Global SME Business Summit in New Delhi.

 

The Minister informed the participants of the Summit about the commitment of the Ministry of Commerce and Industry towards the growth of the SMEs that are the pivot of the overall economic growth of the country. The Minister spoke about the changing of trade regimes globally and establishment of new trade routes based on availability of labour and skill.

 


CTF joined Tracr pilot programme

CTF joined Tracr pilot programme

Tracr, the end-to-end diamond industry blockchain traceability platform being developed by De Beers Group in collaboration with key industry stakeholders, announced that Chow Tai Fook Jewellery Group (CTF) has joined the platform’s pilot programme.

 

Chow Tai Fook joins a range of other leading businesses from across the diamond value chain in piloting the next generation asset-tracking platform powered by blockchain and artificial intelligence. Chow Tai Fook will work with Tracr to support the objective of continuing to enhance consumer assurance over a diamond’s traceability, provenance and authenticity.

 


 


Recovery of 101 carat and 71 carat diamonds announced

Recovery of 101 carat and 71 carat diamonds announced

Gem Diamonds Limited announces the recovery of high quality 101 carat and 71 carat white Type IIa diamonds, both recovered within a twenty four hour period, from the Letšeng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world. The recovery of the 101 carat diamond brings the total recoveries at Letšeng to a record fourteen diamonds of over 100 carats during 2018.

 

 Letšeng is renowned for its regular production of large, top colour, exceptional white diamonds, making it the highest average dollar per carat kimberlite diamond mine in the world. Since Gem Diamonds acquired Letšeng in 2006, it has produced over 60 +100 carat, large, top colour, exceptional white diamonds, making it the highest average dollar per carat kimberlite diamond mine in the world.


GJC presents 8th National Jewellery Awards 2018

GJC presents 8th National Jewellery Awards 2018

The country’s biggest and most eagerly awaited gems and jewellery awards are back. National Jewellery Awards (NJA) 2018, an initiative by All India Gem and Jewellery Domestic Council (GJC), has started their nomination process for the awards for the year 2018. The awards are to honour the rich Indian artistic, creative designs in the gems and jewellery industry and the business & marketing acumen of the jewellery manufacturers, wholesalers and retailers of India.

 

This year, NJA awards is having 36 awards across 5 different categories, like Jewellery Awards (16 categories), Excellence Awards (3 categories), Store Awards (5 categories), Designer & Artisan Awards (3 categories) and Student of the Year Award. A new category for CSR Initiative and Women entrepreneurship has also been added in this year’s NJA awards.

 


 

Pastel baubles this bridal season

Pastel baubles this bridal season

Trusted jewellery house Aisshpra Gems & Jewels, known for impeccable designs and craftsmanship brings an edition of Pastel baubles this bridal season. The dramatic pieces are carved in 22k yellow gold using traditional Meenakari in a frosty color palate, therefore capturing the old world charm in a modern setting. The edition is studded with large chunks of uncut diamonds that add a dash of luster to the jewel and is a dream comes true of a modern royal bride.

 

This pastel ensemble comprises of an array of elegant pair of earrings, chokers, and bracelets. Furthermore, they have also been studded with precious gemstones such as blue sapphire, emeralds, rubies, and pearls thereby making it colourful and attractive.

 


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