The program of the Israel Diamond Exchange (Israel Diamond Exchange, IDE), launched June 1, 2016, in collaboration with Panford (Israel) Ltd., will offer a special distribution of the diamonds for young diamanters.
The ceremony was attended IDE President Yoram u'Dvash (Yoram Dvash) and vice president of IDE Yetskel Bloom (Yehezkel Blum). A group of young diamanters received an envelope containing about 40 diamonds with an average weight of 3.27 carats, with the condition that all the diamonds of the diamond have to be made in Israel. As a special gesture Panford granted a 70-day credit for the initial development.
The total lot size of two commercial boxes of diamonds with De Beers mines was $ 2.25 million.
U'Dvash said: "Today we are implementing the initiative, of which we have dreamed for a long time, we came to an agreement with Panford to provide suitable diamonds at good prices. but before the full start of the program, we had to wait for stabilization of prices for rough diamonds. "
CEO of Shyam Panford Doody (Dudi Shiama) said: "When Yoram u'Dvash proposed this initiative, we readily agreed We are trying to build capabilities that will create optimal conditions for new cutters.".
Thanking Panford Doody and Shyam for the opportunity to implement the project, u'Dvash added: "We are striving to make this initiative a regular supply of rough new cutters is one of the ways we are increasing production of diamonds in Israel.".
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In order to make the circuit monetization of gold more attractive to investors, the Indian government decided to allow deposits to cash in rupees and gold equivalent. It is expected that this step will attract scheme temple trusts, many of which hold large amounts of gold.
If an investor decides to cash a deposit of gold, it will be claimed from the Commission in the amount of 0.2% of the nominal value of the metal.
Interest income that the investor will be able to get under the scheme will be calculated based on the value of gold in rupees during the removal of the deposit. Payment will be made exclusively in cash.
Earlier, the Indian authorities have upgraded the scheme in order to simplify the monetization of gold for the country's citizens.
There are government gold deposits valid for 5-7 and 12-15 years. For short-term gold deposits cashing in gold were permitted in the past.
According to the schemes, banks can collect the gold deposited with the population up to 15 years, then to sell or to lend it to the jeweler. Investors gold in these deposits would receive 2.50% per annum.
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