Strict bank rules force changes in diamond trade practices

Author: Sugata Ghosh - Published 10-01-2019 15:51 - ( Reads)
A year after the Nirav Modi-Mehul Choksi scam rattled the nation, diamondNSE 0.00 % houses in India are being pushed to change the way they have been doing business for many decades. Harsh new rules laid down by large banks would force them to restructure their entities, change business associates and spend more.

Tiffany to Disclose Origin of Diamonds

Author: unknown - Published 09-01-2019 15:56 - ( Reads)
Tiffany & Co has begun disclosing the geographical origin of its diamonds to consumers, pledging to go beyond the standard responsible-sourcing methods prevalent in the industry.

Lucara Diamond to focus on Bostwana mine this year

Author: Cecilia Jamasmie - Published 09-01-2019 15:50 - ( Reads)
Canada’s Lucara Diamond (TSX:LUC), the company that hit the jackpot in 2016 after finding the world’s second-largest diamond, said Tuesday its priority this year will be the completion of a feasibility study into potential underground production and life-of-mine expansion for its Karowe project, in Botswana.

Gold Gets Costlier, Crosses Rs 33,000 Mark Due to More Demand From Jewellers

Author: unknown - Published 09-01-2019 15:46 - ( Reads)
Gold rose for the fourth straight session on Thursday as it crossed the Rs 33,000-mark at Rs 33,070 per 10 gram, gaining Rs 270 at the bullion market here due to increased demand from local jewellers, according to All India Sarafa Association.

Rapaport Weekly Market Comment

Author: unknown - Published 03-01-2019 12:57 - ( Reads)
Happy New Year! Diamond trade ends relatively good year with 1 ct. RAPI +0.7% despite weak 2H. Diamond manufacturers cautious amid expectations of continued midstream consolidation due to bankruptcies and mergers. Dealer market quiet over New Year holiday. Polished suppliers start 2019 with high inventory of small goods up to 0.30 ct. Total diamonds listed on RapNet +24% year on year to 1.5M on Jan. 1. Positive US holiday season sees strong store and web traffic. Retail outlook optimistic, boosted by tax reforms and low unemployment, but stock-market volatility, higher interest rates and US-China trade tariffs may slow luxury spending

India Aims to Promote Its Jewelry in UAE

Author: unknown - Published 03-01-2019 12:52 - ( Reads)
Two Indian trade groups have agreed to promote the country’s jewelry in the United Arab Emirates (UAE).

Padmanaban elected GJC Chairman

Author: unknown - Published 03-01-2019 12:49 - ( Reads)
The All India Gem & Jewellery Domestic Council has elected Anantha Padmanaban Chairman and Shaankar Sen Vice- Chairman for two years.
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