GJ Town India

Trend to remain fastest growing over next few years! The Economic Advisory Council to the Prime Minister (EAC-PM) had a meeting on 25th January, 2019 and took stock of the state of the economy. The Council endorsed that the macro-economic fundamentals of the economy are sound, but challenged remain, several of which are structural in nature. While the prospects for world economic growth does not look very promising, particularly in the advanced economics, there is sufficient amount of growth momentum in emerging market economies. India is not insulted from global developments. Nevertheless, India’s growth is expected to be in the 7-7.5% range in the next few years; one of the fastest in the world. However, with reforms designed to address the structural problems, growth rates can easily be enhanced by at least 1%. Amongst the issues discussed by the EAC-PM were agricultural problem, investment trends (including investments by States consequent to 14th Finance Commis...

Diamonds sale increased 15% in H1 FY 2019 Petra Diamonds Limited announces trading update for H1 FY 2019 & says the sale of Petra’s interest in the Kimberley Ekapa Mining Joint Venture which completed on 05 December 2018; all figures are stated excluding the KEM JV, unless otherwise specified. According to the update, H1 diamond production up 10% to 2,019,147 carats over the H1 FY 2018 of 1,843,956 carats. Full year production guidance of carat 3.8- 4.0 mn cts maintained. H1 revenue up 8% to US$207.1 million over the previous H1 FY 2018: US$191.7 million. Diamonds sale increased 15% to 1,736,357 carats that was in H1 FY 2018 of 1,510,361 carats. Rough diamond prices on a like-for-like basis reduced by caret 4% compared to H2 FY 2018 due to usual seasonal weakness. The product mix during H1, especially at Cullinan, yielded prices at the lower end of historical ranges. Capex of US$40.6 million for the Period tumbled significant low from H1 FY 2018 worth US$69....

Lucara Diamond recovers a 240 carat, top white gem diamond, from its 100% owned Karowe Diamond Mine located in Botswana. This diamond will be shown alongside the 127 carat, top white gem diamond reported earlier this year together with other exceptional diamonds recently recovered from Karowe, at Lucara's upcoming diamond tender closing on March 7, 2019. Since mining began at Karowe in July 2012, a total of 54 diamonds in excess of 200 carats have been recovered, including 12 diamonds larger than 300 carats in size. In addition, Lucara has sold 180 diamonds in excess of $1 million each and ten diamonds have sold for in excess of $10 million each. Eira Thomas CEO commented: "This top white 240 carat gem diamond was mined from the M/PK(S) unit within the South Lobe, providing continuing confirmation that large, high quality gem diamonds are recovered throughout the kimberlite, in all lobes and phases on a regular basis. As Karowe enters its 7th full year of production...

US mint releasing the Platinum Proof Coin Series on January 31 The United States Mint (Mint) will release the second coin in its Preamble to the Declaration of Independence Platinum Proof Coin Series on January 31 at noon EST. Launched in 2018, this three-year platinum proof coin series features all new obverse (heads) designs created concurrently by one designer and a new common reverse (tails) design. The obverse (heads) of the 2019 “Liberty” version of the Preamble to the Declaration of Independence Platinum Proof Coin (product code 19EJ)portrays Lady Liberty keeping watch over prairies, lakes, and mountains as pioneers head westward. The wild terrain in the background evokes the quintessential American spirit to explore new territory and the freedom to pursue new landscapes, ideas, and ways of life. In the foreground, Lady Liberty’s lips are parted, symbolizing freedom of speech. Her torch is an emblem of the guiding light that liberty provides, while the open bo...

Introduces the Only Grading System to Use Fully Automated AI Technologies Sarine Technologies is inaugurating its newly branded, advanced and fully automated diamond grading lab, the only such facility based on artificial intelligence (AI), during the International Diamond Week in Israel (IDWI) on January 28 – 30, 2019. The launch follows an initial pilot of the lab facility that opened in February 2018. Sarine, an Israel-based, publicly traded company, is the industry leader in pioneering new technologies for the entire diamond pipeline. The Sarine lab is offering automated diamond grading reports, based on machine learning and monitored by expert gemologists, which supplies objective, consistent grading results. The Sarine Profile reports are provided in a customizable printed or digital format. The lab also offers science-based Light Performance grading, measuring brilliance, sparkle, fire and light symmetry, which they say objectively assesses the beauty of t...

10 Mega Trends appeared: How India Will Consume in 2030 India to witness a 4x growth in consumer spends! According to Nikhil Prasad Ojha and Zara Ingilizian, “The new Indian consumers will be richer and more willing to spend, and unlike their predecessors, will have very specific preferences.” Over the next decade, consumption in fast-growth consumer markets such as China, India and Southeast Asia will be reshaped by the Fourth Industrial Revolution and more than one billion first-time consumers. The Future of Consumption in Fast-Growth Consumer Markets, a project in collaboration with Bain & Company, focuses on the emerging markets that comprise more than 40% of the world’s population. After studying China in 2017, for 2018 it turned its attention to India. India is one of the fastest-growing economies in the world. By 2030, it is on course to witness a 4x growth in consumer spend. It will remain one of the youngest nations on the planet and will be home t...

Production to jump 500% to be of 10mn cts by 2025 The Zimbabwe Consolidated Diamond Company (ZCDC) plans to increase production of diamonds by 488 percent to 10 million carats in the next five years from 1.7 million carats produced last year. To hit that target, Morris Mpofu, the ZCDC chief executive officer told delegates attending the on-going Zimbabwe National Chamber of Commerce (ZNCC) conference the company will set aside an investment envelope of about $400 million. The yellow metal target, he highlighted, will place Zimbabwe as one of the top five rough diamond producers in the world. “(Our) business strategy is part of corporate entrepreneurship, enterprise development and sustainable business growth to create the necessary mineable diamond resource and achieve diamond production levels of 10 million carats per year from 2022,” Mpofu said. “He added: “This will place Zimbabwe on the top five world rough diamond producers. This year, ZCDC has a strategic intent...