Jewellery Financial News

burglars targeted a residence in Khera Khurampur village, Farrukhnagar, in Haryana's Gurgaon district, making away with a significant sum of money and valuable jewellery worth approximately Rs 1 lakh. What sets this burglary apart is that the culprits also made off with something more irreplaceable: the educational certificates of the homeowner's daughter. The victim, Pradeep Kumar, reported the incident to the Farrukhnagar police station two days after the alleged burglary took place, shedding light on the audacity of the thieves.

New Delhi: The central government on Friday notified the third phase of mandatory hallmarking of gold jewellery and artefacts, which will cover an additional 55 districts, taking the total number of districts covered under mandatory hallmarking at 343 across the country. "The third phase of the mandatory hallmarking will cover additional 55 new districts under the mandatory hallmarking system, wherein a hallmarking centre has been setup post implementation of the second phase of the mandatory hallmarking order thereby making the total number of districts covered under mandatory hallmarking as 343," Ministry of Consumer Affairs, Food & Public Distribution said in a statement.

Responsible Jewellery Council (RJC). Founded in 2005 and now with members globally in 71 countries, the RJC is the world’s leading standard-setting organisation for the jewellery and watch industry. Its Code of Practices (COP) is the global standard for the responsible jewellery and watch industry, focusing on business ethics and responsible supply chains covering all the primary minerals and metals used in the manufacture of jewellery -gold, silver, platinum group metals, diamonds and coloured gemstones. Mr.

Senco Gold today said it has become a member of the Responsible Jewellery Council, the world’s leading standard-setting organisation for the jewellery and watch industry. The move is a step towards the company's sustainability journey and Senco said they are the first large jewellery retailer from India to become a member of the Responsible Jewellery Council. «Trust is the cornerstone in the world of retail jewelry and we look forward to building on our association with the RJC to create an ecosystem of responsible practices as a core of sustainability strategy and fulcrum of our future endeavours,” said Suvankar Sen, Managing Director & CEO, Senco Gold. RJC's Code of Practices is the global standard for the responsible jewellery and watch industry, focusing on business ethics and responsible supply chains covering all the primary minerals and metals used in the manufacture of jewellery: gold, silver, platinum group metals, diamonds and coloured gemstones, Senco noted. India is a hugely important market for us and for the jewellery industry as a whole, said Melanie Grant, Executive Director, RJC. Senco Gold ended Wednesday's session with gains of nearly 3 per cent, while the benchmark indices closed up 0.15 per cent.

Christie's has cancelled the second auction of jewels belonging to an Austrian billionaire, whose German husband made his fortune under the Nazis, following «intense scrutiny, it said Friday. The auction house held a first controversial online and in-person sale in Geneva of part of the large stash of more than 700 jewels in May, and had been scheduled to hold a second round in November. But in a statement it said „Christie's has taken the decision not to proceed with further sales of property from the Estate of Heidi Horten.“ With just a portion of the collection sold, the auction eclipsed previous records set by Christie's in sales of properties that belonged to actress Elizabeth Taylor in 2011 and the „Maharajas and Mughal Magnificence“ collection in 2019, both of which exceeded $100 million. Hopes had been high for similar results from the second round. But following an initial report in the New York Times, Christie's sent a statement to AFP confirming that it had cancelled the second round, acknowledging that „the sale of the Heidi Horten jewellery collection has provoked intense scrutiny.“ »The reaction to it has deeply affected us and many others, and we will continue to reflect on it," it said. A large number of Jewish groups had asked Christie's to halt the initial Horten sale in May, describing it as «indecent», and demanding that the auction house do more to determine how much of it came from victims of the Nazis. The extraordinary collection belonged to Heidi Horten who died last year aged 81, with a fortune of $2.9 billion, according to Forbes. A report published in January 2022 by historians commissioned by the Horten Foundation said Heidi Horton's husband Helmut Horton, who died in Switzerland in 1987, had

GJEPC) has joined hands with the Jewellers Association Jaipur (JAJ) to form a special purpose vehicle (SPV), Jaipur Gem & Jewellery Board (JGJB) to implement the Jaipur Gem & Jewellery Bourse project. This global gemstone trading centre is expected to house 1,500-2,000 units — coloured gemstone and jewellery units, labs, banks, insurance, logistics, and security service providers among others. This will augment Jaipur’s status as the largest cutting and polishing centre for gemstones in the world. Vipul Shah, Chairman, GJEPC, said in a statement, “Jaipur is the gem capital of India and GJEPC has been pursuing the Jaipur Gem & Jewellery Bourse dream project for around a decade now.

CaratLane on Friday appointed Avnish Anand as its new chief executive, roughly a week after the departure of its founder and former chief executive Mithun Sacheti. Anand was previously chief operating officer of the Tata Group-owned CaratLane and has been at the firm for more than 8 years. “Avnish… was employee No.1 at CaratLane and an integral part of the founding team.

jewellery manufacturing facility in West Bengal. The manufacturing unit built with an investment of Rs 150 crore. The facility was inaugurated by Shashi Panja, minister of state Industries, commerce & enterprises, child development and Women Development & Social Welfare.

Pilbara icon Lang Hancock sold off valuable mining tenements and stripped his own company of cash to buy his wife Rose Porteous luxury cars, jewellery and a private jet, lawyers claim.

jewellery and has potential to become the market for the world, CK Venkataraman, MD, Titan Company, said that all the circumstances are in the country’s favour. “It is what the industry can shape into.

«We have been quite satisfied with the quarter one performance and it was as per our plan. Quarter one generally is slightly weaker from the margin profile because Akshaya Tritiya which is more gold-led quarter and studded activation actually happens in quarter two,» says Ashok Sonthalia, CFO, Titan.

Enforcement Directorate has seized cash and jewellery worth ₹25 crore during raids against top officials of Hero MotoCorp. The Central probe agency also found "incriminating" documents in the residences and officers of executive chairperson Pawan Kant Munjal and others. The development came mere weeks after the Ministry of Corporate Affairs ordered an investigation to assess Hero MotoCorp's relationship with a third-party vendor in a case related to alleged diversion of funds.

raids on Hero MotoCorp executive chairperson Pawan Kant Munjal and some others, the Enforcement Directorate said on Wednesday. The federal agency raided the residences and offices of the 69-year-old billionaire businessman, the promoter of India's largest two-wheeler automobiles manufacturer, in Delhi and neighbouring Gurugram apart from that of some other entities on Tuesday.

luxury jewellery and watch store, Piaget, located on Rue de la Paix in the heart of Paris. The robbers struck around 1:00 pm (1100 GMT), making off with an estimated 10 to 15 million euros worth of goods. Thankfully, no one was injured in the incident. Early indications suggest that three individuals were involved in the robbery, with at least one of them brandishing a weapon. The daring gang managed to escape the scene with their bounty, leaving authorities in pursuit of the culprits. Rue de la Paix is renowned for housing prestigious jewellery brands and is situated near the esteemed Place Vendome. This latest incident echoes a similar high-profile heist that occurred in April, where three individuals on motorbikes targeted the Bulgari store, fleeing with jewellery worth several million euros.

Thangamayil Jewellery, one of the top jewellery companies in India by growth, has seen a spectacular rise in the past two months. Shares of the company have witnessed a bullish breakout and are trading at their all-time high levels. Let’s find out why.

Dharam Singh Chokker and companies «owned and controlled» by him as part of a money laundering case linked to alleged fraud with homebuyers, the ED said on Monday. The action under criminal sections of the Prevention of Money Laundering Act came after the Enforcement Directorate (ED) launched searches against the Samalkha (Panipat) MLA and others on July 25, it said in a statement.

GJEPC Chairman Vipul Shah has said. The gems and jewellery exports grew 2.48 per cent year-on-year to Rs 3,00,462.52 crore (over USD 36 billion) in FY23, according to the Gems and Jewellery Export Promotion Council (GJEPC).

gems and jewellery exports for the current financial year is seeing a downward trajectory, on the back of slowdown in major international markets and inflationary pressures playing spoilsport. “The export target for gems and jewellery was $42 billion versus last year in which we achieved approximately $39 billion. However, given that the first quarter itself was down by around 18%, we are expecting a decline of 10-15% in overall exports in this fiscal,” Vipul Shah, Chairman, Gem and Jewellery Export Promotion Council (GJEPC) said in an event organised by the industry body in the capital on Tuesday.

The government has clarified that import restrictions on certain gold jewellery and articles are not applicable for units in the special economic zones (SEZs).On July 12, the government, through a notification, imposed these restrictions on certain gold jewellery and articles.

government on Wednesday imposed restrictions on imports of certain gold jewellery and articles. In a notification, the directorate general of foreign trade (DGFT) amended the import policy for unstudded jewellery made of gold, and other articles made of gold to “restricted” from “free”.

It is common knowledge that India is one of the highest consumers of gold, particularly in the form of jewellery. Since gold in its raw form is too delicate, it is always alloyed with some other metal for the purpose of jewellery making. This alloying of gold also makes the public extremely vulnerable to excessive adulteration which cannot be easily detected. Adulteration of gold is also not a new subject. Consumers are well aware of such pitfalls. However, they have no option other than trusting the words of a jeweller.