I-T Dept. to re-assess ITRs of rich buyers of Nirav Modi jewellery: Officials

I-T Dept. to re-assess ITRs of rich buyers of Nirav Modi jewellery: Officials

The buyers will be charged for tax evasion and subsequent action will be initiated if discrepancies of concealed cash payments are found. The Income Tax Department has decided to re-assess the ITRs of over 50...
2000 Crore Diamond Import Scam Busted In Mumbai, 4 Arrested

2000 Crore Diamond Import Scam Busted In Mumbai, 4 Arrested

The Directorate of Revenue Intelligence (DRI) has busted an estimated Rs. 2,000-crore money laundering racket at the Bharat Diamond Bourse (BDB) in Mumbai and arrested four people, officials said on Friday. The racket was unearthed...
ALROSA Increases Insurance Cover for the Group; Includes New Heads in the Policy

ALROSA Increases Insurance Cover for the Group; Includes New Heads in the Policy

ALROSA recently entered into a new one-year insurance contract with the SOGAZ Group. The new insurance cover for ALROSA and its eight subsidiary companies amounts to RUB 674.8 billion – a figure which is...
Rio Tinto Unveils 2018 Argyle Pink Diamonds Tender Including Largest Vivid Pink Presented

Rio Tinto Unveils 2018 Argyle Pink Diamonds Tender Including Largest Vivid Pink Presented

Rio Tinto yesterday unveiled the 63 diamonds that will constitute the 2018 Argyle Pink Diamonds Tender, including the largest Vivid Pink diamond that has ever been presented since Argyle launched these tenders in 1984....
GJEPC’s Sustained Vigilance Aids Authorities in Unearthing Money Laundering Scam

GJEPC’s Sustained Vigilance Aids Authorities in Unearthing Money Laundering Scam

The newspapers this morning contained reports of an import scam to the tune of Rs. 3000 crore and the arrest of four persons in this regard. The Gem & Jewellery Export Promotion Council (GJEPC)...
WFDB names new World Diamond Mark chairman

WFDB Names New World Diamond Mark Chairman

The World Federation of Diamond Bourses (WFDB) has announced that former Dubai Diamond Exchange (DDE) president Peter Meeus will take over as head of its World Diamond Mark (WDM) programme. Meeus is a diamond industry...
Gold prices subdued as dollar extends rally

Gold Prices Subdued as Dollar Extends Rally

Gold prices were muted early Friday as the dollar extended gains from the previous session when strong US inflation data and trade war concerns boosted demand for the greenback. FUNDAMENTALS Spot gold was down about 0.1...
COLLECTION: Silver chains shine for Thomas Sabo AW18

COLLECTION: Silver chains shine for Thomas Sabo AW18

For AW18, Thomas Sabo has launched a collection of sterling silver chains crafted in its hometown – Germany. After the launch of its Charm Club at the beginning of the year, for the new collection...
GIA works with Princeton University on advanced diamond research

GIA works with Princeton University on advanced diamond research

Scientists at Princeton University called on GIA’s expertise in gemmological research and the analysis of optical centres to evaluate how to use the unique properties of diamonds to create a highly secure communications network. The...
GJEPC Delegation Makes Presentation to Parliamentary Standing Committee on Commerce

GJEPC Delegation Makes Presentation to Parliamentary Standing Committee on Commerce

A delegation of The Gem & Jewellery Export Promotion Council made a presentation to the Department Related Parliamentary Standing Committee on Commerce which was looking into the “Impact of banking misappropriation on trade &...

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