PNB scam: Jewellers face working capital crunch as banks make loans harder

Author: Dilip Kumar Jha - Published 09-03-2018 13:45 - ( Reads)
Diamond jewellery manufacturers and retailers have started facing a working capital crunch, with a plethora of bank officials intensifying due diligence before sanctioning loans. The stricter scrutiny follows the Rs 115 billion Punjab National Bank (PNB)–Nirav Modi and Gitanjali Gems scam that surfaced two weeks ago.

Gold Rate Today: Gold, silver trade lower in morning deals

Author: unknown - Published 09-03-2018 12:16 - ( Reads)
Gold and silver were trading lower in the morning trade on Friday following subdued demand of precious metals from jewellers, industries and retailers.

Ornaments losing sheen for cautious buyers

Author: Sutanuka Ghosal - Published 09-03-2018 07:39 - ( Reads)
Gold jewellery sales in the country have fallen 15-20% since the Rs 12,900-crore Nirav Modi-Mehul Choksi fraud came to light in early February as consumers have become cautious about purity of gold and are holding back their purchases, traders said.

"Diamonds will become increasingly rare and valuable"

Author: PB Jayakumar - Published 09-03-2018 00:48 - ( Reads)
Diamonds and its business have become a controversial discussion point in India after two prominent diamond firms were found to be involved in a massive banking scam.

Frontier Diamonds makes discovery of first diamonds at Bellsbank project

Author: unknown - Published 08-03-2018 14:14 - ( Reads)
Mining development at Bellsbank. Credit: Frontier Diamonds Limited.
Frontier Diamonds has successfully recovered the first diamonds from the Bellsbank Kimberlite pipe exploration project, which is located 10km from its Sedibeng diamond mine operations in the Northern Cape Province, South Africa.

Gem Diamonds Makes Another Big Discovery

Author: unknown - Published 08-03-2018 13:01 - ( Reads)
Gem Diamonds has recovered a 152-carat stone from its Letšeng mine in Lesotho, the company said Wednesday.

Czech national collection of diamonds exposed as fakes

Author: Tim Gosling - Published 08-03-2018 08:06 - ( Reads)
Diamonds and other precious stones forming part of a Czech National Museum collection thought to be worth millions of pounds have been exposed as fakes during a routine audit.

Gems, jewellery exports likely to be flat in FY18: GJEPC

Author: unknown - Published 07-03-2018 05:42 - ( Reads)
The gems and jewellery exports are likely to remain flat this financial year due to global economic slowdown, but might grow at 10 per cent next year, an industry body said today.

World’s biggest miner plans Hong Kong diamond auctions to spur impulse buys of ‘girl’s best friend’

Author: unknown - Published 05-03-2018 11:15 - ( Reads)
Up to 86 per cent of Chinese respondents in GfK Research’s 2017 poll of 4,000 respondents aged between 25 and 55 said they plan to buy at least one piece of diamond jewellery this year, compared with 59 per cent of Americans surveyed.
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