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India 150
Indian Banks Slash Lending by 10%
Bank financing to India’s gem and jewelry sector has fallenat least 10% since April 1 due to stricter lending conditions, according to the trade’s export-promotion body.Credit providers tightened their rules after allegations inJanuary that...
Financial-Legal Jul 24, 2018 Rapaport News
Nirav Modi Accused of Bank Fraud 150
Nirav Modi Under Investigation for Bank Fraud
India’s Central Bureau of Investigation (CBI) has launched aprobe into billionaire jeweler Nirav Modi over allegations he defrauded a statebank of $44 million, Reuters reported.The Punjab National Bank complained to the CBI that Modi andothers...
Retail Feb 11, 2018 Rapaport News
Israel Diamond Exchange
Israel’s FIBI Bank Tightens Terms for Diamond Trade
The Israel Diamond Exchange (IDE) pledged to contest adecision by First International Bank of Israel (FIBI) to tighten its lending standardsfor the trade.FIBI raised collateral requirements for the diamondindustry, prompting IDE president Yoram Dvash...
Financial-Legal Aug 18, 2016 Rapaport News
AWDC: Antwerp Diamond Bank to Close Accounts by June 30
The Antwerp World Diamond Centre (AWDC) stated that significant progress has been made in transitioning Antwerp Diamond Bank (ADB) clients to new banking services. In April, the AWDC negotiated a two-month extension for ADB...
Financial-Legal Jun 26, 2015 Jeff Miller
Kingold Jewelry Opens Ecommerce Channel on CCB
Kingold Jewelry Inc. began to sell its 24-karat gold products online today through China Construction Bank's (CCB) Internet shopping portal, http://mall.ccb.com. CCB's website is linked to a number of manufacturers, wholesalers and retailers and is targeting...
Financial-Legal Nov 26, 2013 Jeff Miller
lazare kaplan
Lazare Kaplan Estimates 3Q Sales -31% to $15M
Lazare Kaplan International Inc. notified the Securities and Exchange Commission (SEC) that it would again be filing a quarterly financial report late for the fiscal period that ended on February 28, 2013. Nonetheless, Lazare...
Financial-Legal Apr 16, 2013 Jeff Miller
Gold Bars
RBI Panel Suggests More Curbs on Gold Imports
A panel created by the Reserve Bank of India (RBI) to study issues related to gold has recommended measures such as introducing new gold-backed financial products, designing inflation indexed bonds and prohibiting bank finance for purchases...
Financial-Legal Feb 07, 2013 Dilipp S Nag
India Allows Establishment of Bonded Warehouses for Gems, Jewelry Sector
India has re-introduced a provision for setting up private/public bonded warehouses for the gems and jewelry sector in its Foreign Trade Policy for 2009 to 2014.“Private/Public bonded warehouses may be set up in Special Economic Zones (SEZ)/...
Polished Markets Feb 04, 2013 Dilipp S Nag
lazare kaplan
Lazare Kaplan Anticipates a 23% Drop in Revenue
Lazare Kaplan International anticipates that its fiscal 2012 revenue will reflect a 23 percent year-on-year decline at $105.7 million for the 12 months that ended on May 31. The decrease in sales primarily reflected a drop in rough...
Financial-Legal Aug 30, 2012 Jeff Miller
Bharat Diamond Bourse
Care Assigns A+ Rating to BDB's Credit Facilities
Care Ratings has assigned ''Care A+'' rating to the Bharat Diamond Bourse’s (BDB) proposed long-term bank facilities worth $6.6 million (INR 331.8 million). The rating factors in the near-completion status of the project...
Financial-Legal Jan 23, 2012 Dilipp S Nag
FICCI Suggests Ways to Finance Industry Growth
The Federation of Indian Chambers of Commerce and Industry (FICCI) on Thursday organized its third annual Gems & Jewelry Conference in Mumbai, with an aim to ''build bridges'' between the banking sector and this industry to maintain...
Financial-Legal Nov 25, 2011 Dilipp S Nag
Fuqi International
FUQI to Trade on Pink Sheets
The NASDAQ Listing Qualifications Panel notified FUQI International Inc. that it would be delisted on March 29. FUQI issued a statement saying that it was eligible for Over-The-Counter (OTC) trading on Pink Sheets under the symbol...
Financial-Legal Mar 29, 2011 Jeff Miller
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