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Indian Banks Slash Lending by 10%
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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...
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Financial-Legal
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Jul 24, 2018
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Rapaport News
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Nirav Modi Under Investigation for Bank Fraud
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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...
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Retail
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Feb 11, 2018
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Rapaport News
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Israel’s FIBI Bank Tightens Terms for Diamond Trade
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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...
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Financial-Legal
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Aug 18, 2016
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Rapaport News
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AWDC: Antwerp Diamond Bank to Close Accounts by June 30
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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...
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Financial-Legal
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Jun 26, 2015
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Jeff Miller
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Kingold Jewelry Opens Ecommerce Channel on CCB
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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...
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Financial-Legal
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Nov 26, 2013
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Jeff Miller
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Lazare Kaplan Estimates 3Q Sales -31% to $15M
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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...
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Financial-Legal
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Apr 16, 2013
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Jeff Miller
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RBI Panel Suggests More Curbs on Gold Imports
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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...
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Financial-Legal
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Feb 07, 2013
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Dilipp S Nag
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Polished Markets
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Feb 04, 2013
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Dilipp S Nag
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Lazare Kaplan Anticipates a 23% Drop in Revenue
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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...
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Financial-Legal
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Aug 30, 2012
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Jeff Miller
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Care Assigns A+ Rating to BDB's Credit Facilities
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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...
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Financial-Legal
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Jan 23, 2012
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Dilipp S Nag
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FICCI Suggests Ways to Finance Industry Growth
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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...
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Financial-Legal
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Nov 25, 2011
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Dilipp S Nag
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FUQI to Trade on Pink Sheets
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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...
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Financial-Legal
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Mar 29, 2011
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Jeff Miller
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