NEWS

China banks on sharing of debt info

China banks on sharing of debt info

New rules laid out by China’s banking regulator will require banks lending to the same client to share the borrower’s credit history as well as set a limit for the funds the client can take on, Caixin reports.

 

Continuing Beijing’s deleveraging campaign, this latest round of regulation hopes to put restrictions on companies taking on irresponsible levels of debt from multiple lenders, according to the China Banking and Insurance Regulatory Commission.

.

June HK to be held during June 21 to 24

June HK to be held during June 21 to 24

First-rate jewellers and gemstone dealers, many of whom have long been associated with luxury and glamour, are all set to impress at the June Hong Kong Jewellery & Gem Fair’s signature Fine Design Pavilion/Fine Gem Pavilion.

 

The June Fair, which has earned its place as the world’s most important mid-year fine jewellery event, is scheduled for June 21 to 24 at the Hong Kong Convention & Exhibition Centre. The B2B show attracts influential buyers from all corners of the world and brings together about 2,000 exhibitors from 41 countries and regions.

 

 

Task Force takes steps on shell companies

Task Force takes steps on shell companies

2nd drive to be launched during FY 2018-19, 

a total of 2,25,910 companies identified

 

2nd drive to be launched during the current Financial Year 2018-19 ; a total of 2,25,910 companies identified for being struck-off under section 248 of the Companies Act. The Task Force on Shell Companies has met 8 times since its constitution and has taken pro-active and coordinated steps to check the menace of shell companies.

 

The ‘Task Force’ was set up in February, 2017 by the Prime Minister’s Office under the joint Chairmanship of the Revenue Secretary and Secretary, MCA with a mandate to check in a systematic way, through a coordinated multi-agency approach, the menace of companies indulging in illegal activities including facilitation of tax evasion and commonly referred to as ‘Shell Companies’. Department of Financial Services, CBDT, CBEC, CBI, ED, SFIO, FIU-IND, RBI, SEBI, DG GSTI and DG-CEIB are its Members.

 



Large Alrosa diamonds auction in June

Large Alrosa diamonds auction in June

Alrosa, the world’s largest diamond mining company, will hold the auctions for the sale of special size rough diamonds (weighing over 10.8 carats) in Hong Kong and Vladivostok this June. The auction in Hong Kong will take place on June 13-27; the results will be summed up on June 28. The company will auction 105 gem-quality lots with total weight of 1620 carats.

 

The second auction will be held on June 18-29 in Vladivostok. The company plans to bring there 130 gem-quality lots with total weight 2149 carats. The results of the auction will appear on June 29.


China reduces Import Tariffs Jewelry

China reduces Import Tariffs Jewelry

The Customs Tariff Commission of the State Council in China issued the "Notice on Reducing the Import Tariffs of Daily Consumer Goods" a few days ago. According to the notice, China will cut Most Favored Nation (MFN) tariffs for daily consumer goods involving 1,449 tax items starting July 1. 18 tax items involving jewelry categories are included.

 

The MFN import tariff rate for Gold and silver jewelry products will be reduced from 20% to 8%, and that for platinum and other precious metal products from 35% to 10%, and for natural or cultured pearl products, gemstones or semi-precious stones products from 35 % to 10%. The average tariff drop for the 18 jewelry tax items will be 67.75%.

 


USD-hedged gold helps risk-adjusted returns

USD-hedged gold helps risk-adjusted returns

Global gold-backed ETF holdings added 15 tonnes(t) to 2,484t in May. Europe and Asia drove inflows as European funds have responded strongly in the past two months. North American fund flows reversed their early 2018 trend as they lost 2.3% of assets, likely a result of the volatile prices in the gold market which left gold lower by 60bps (in dollar terms) on the month.

 

Volatility and weakness in the gold market were largely driven by a stronger dollar (DXY +2.3% on the month). However, USD-hedged gold was higher by 1.4% on the month. This highlights our view that having some allocation to USD-hedged gold helps risk-adjusted returns by lowering price volatility in periods when currency prices fluctuate.

 


Push to best practices in industry

Push to best practices in industry

The JNA Awards and the Responsible Jewellery Council (RJC) are joining forces to promote best practices in the international jewellery and gemstone industry. 

 

A world-renowned programme organised by UBM Asia, the JNA Awards recognises, celebrates and encourages excellence and innovation in the global jewellery trade. Now in its seventh edition, the Awards will culminate in a glittering awards ceremony in Hong Kong, on 16 September.                 

 

The RJC, a not-for-profit organisation headquartered in the UK, is the jewellery industry’s foremost standards setting and certification body. It has more than 1,100 member-companies in 75 countries that span the entire jewellery supply chain, from mine to retail. RJC certification is a gateway to growth for companies, demonstrating a company’s commitment to responsible business practices and ethical behaviour.

 


PNG celebrates WED with Farmer Education

PNG celebrates WED with Farmer Education

Legacy jewellery brand PNG Jewellers celebrated this World Environment Day (WED) at their adopted village of Shillim in Pune’s Mawal taluka as apart of their Corporate Social Responsibility initiative. This year, they held three programmes that had the participation of over 30 employees from PNG Jewellers alongside 500 local villagers.

 

The aim was to not only improve the quality of life of the villagers but also sensitize PNG employees towards larger socially relevant issues. The first programme was a tree plantation drive at Shillim, Ajiwali and Kottamwadi villages, where 1000 tree saplings such as bamboo and sagwan (teak) were planted.

 


SA, India to commemorates Gandhi train incident

SA, India to commemorates Gandhi train incident

South Africa and India are commemorating the 125th anniversary of the eviction of Mahatma Gandhi at the Pietermaritzburg railway station. Gandhi arrived in South Africa as a young lawyer in 1893 and shortly after his arrival, he booked a first class ticket on the train to Pretoria, where he was to undertake business on behalf of the legal firm where he was employed.

 

On a cold June day, 07 June 1893, he was forcibly removed by the rail authorities in Pietermaritzburg from the first class compartment and thrown off the train following a complaint from one of the passengers. He subsequently spent the night in the station’s waiting room.

 



Expeditious disposal of pending appeal

Expeditious disposal of pending appeal

CBDT dedicates fortnight for pending appeal effect – rectification matters! Redressal of public grievances and taxpayer service is an area of top priority for the CBDT and the Income Tax Department. In this connection, a fortnight from 1st June to 15th June, 2018 has been dedicated for expeditious disposal of pending appeal effect and rectification matters.

 


Showing 71 to 80 of 1688 (169 Pages)