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Jul 27, 2015
IndusInd Bank announced today that it has completed the formalities for the acquisition of the Royal Bank of Scotland’s (RBS) diamond and jewellery financing business in India. With this, RBS’ entire diamond and jewellery portfolio has now migrated to IndusInd Bank. This was communicated in a BSE filing during market hours today. The bank also indicated that the loan portfolio acquired from the RBS is to the tune of approximately Rs 4100 crore.
Jul 24, 2015
USA’s National Retail Federation (NRF) recently lowered its retail sales growth forecast from 4.1% projected in February to 3.5% announced on July 22nd. NRF said that it had revised its retail sales forecast “because of unexpected slow growth recorded during the first half of the year, similar to the industry’s experience in 2014”.
Jul 24, 2015
The Forevemark Forum, which has become something of a signpost event for the diamond industry, concluded on July 23rd, with a day-long Press Meet. The first two days of the event were dedicated to an interaction between about 14 Forevermark diamantaire-manufacturers, and more that 100 retailers from across the country, along with other invitees and stakeholders of the industry.
Jul 24, 2015
Gemfields, the UK headquartered gemstone miner, has just released its maiden Mineral Resource and Ore Reserve Statement for Montepuez Ruby Mine in Mozambique. The report, prepared by SRK Consulting of UK has projected an Indicated and Inferred Mineral Resource of 467 million carats of ruby and corundum at an in-situ grade of 62.3 carats per tonne with a mine life of about 21 years.
Jul 24, 2015
The 7th Cambodia International Gems and Jewellery Fair was inaugurated by the country’s Deputy Prime Minister Men Sam An at the Dimond Island Trade Centre in Phnom Penh, yesterday, according to reports in the local media. The Fair will run till July 26, 2015.

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