Dubai's jewellers see better value in 18K push

January 2, 2013

HL

Dubai, Jan 2: Seeking to put the sparkle back into the gold trade after a less than stellar showing in the second half of 2012, Dubai’s jewellers are set to put their marketing muscle behind 18-carat jewellery for the first time. They believe such a move would help considerably improve offtake of jewellery among Western and Chinese shoppers, particularly tourists during the peak holiday season and during DSF.

It also signals a not so subtle shift on the part of Dubai’s jewellery trade which has until now focussed exclusively on 22-carat jewellery and demand from Indian and Pakistani residents and those on visit.

“18K is the most popular caratage in jewellery internationally, especially in Europe; hence it will be appealing to tourists from there,” said Abdul Salam KP, group executive director at Malabar Gold and Diamonds. “It obviously has the advantage of a lower price compared to 22K and offers more design variety as it is acceptable internationally and easier to make in complicated designs.”

On pricing, there is a fairly significant gap between the carats. Yesterday, a gram of 22K was going for Dh180.94 ($49.26) in Dubai, while its 18K counterpart had a less sheen in value terms at Dh147.99 ($40.29) a gram. Moreover, the making charges on 18K are said to be considerably lower.

Apart from the Western tourist, jewellery chains are keeping an equally keen look out for Chinese shoppers. They were quite conspicuous jewellery buyers during DSF 2011, but less so last year. Retailers are hoping for a marked improvement in the upcoming one and expect the 18K push will win them over.

“The Chinese tourist prefer 18K gold jewellery as well as 24K gold bars,” said John Paul Joy Alukkas, executive director, Joyalukkas Group. “The preference for the former is because they can use it more as a day to day rather than special occasion jewellery. The gold bars are with an investment perspective.”

Dubai’s gold trade definitely needs a volume boost and if 18K can provide that, retailers will not mind much. Demand had taken a dent last year after the steady upturn in gold prices through 2011 stalled and went through a bit of volatility.

But a key factor for the subdued demand had to do with events in India, where customs authorities dusted off a long dormant 1967 gold import duty and started applying it vigorously since the second quarter of 2012. This effectively meant that the price differential buying gold jewellery in Dubai as opposed to doing the same in India came down significantly. It also meant that any Indian expat here taking gold back to India would be hit with steep duties. As a case in point, a woman passenger wearing a gold chain weighing 40-gram would have to shell out Rs4,100 as duty on arrival at an Indian airport.

“Implementation of the recent revision in customs duty for gold and the related hassles for passengers has affected the mindset of NRI passengers in a big way,” said Sunny Chittilappilly, chairman of Dubai Gold and Jewellery Group. “As a result gold buying in the Gulf reduced to an extent and demand for 22K Indian jewellery was affected during the high purchase season close to summer.”

Several depositions, both individual and at the industry level, have been made to the Indian authorities for a repeal or a relook at the 1967 provisions. Dubai’s jewellers believe something will come out of the collective action.

In the meantime, they hope the 18K push and DSF 2013 — in which 13 kilos of gold can be won daily - will cut them some slack.

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Agencies
May 6,2020

Washington D.C., May 5: Working from home has become the new normal ever since the outbreak of coronavirus and in today's time the work duties can be easily dealt with by means of mobile devices at home.

However, this easy use of technology, mobile devices for that matter, has the potential to blur the fine line between work and the other daily life routines.

But, contrary to the belief, a study at the University of Jyvaskyla reveals that the mixing of work and other daily life routines may have more benefits than previously assumed, and points to the importance of boundary-spanning communication.

A smartphone enables phone calls, email, and file transfers from the comfort of home. The study shows that there may be more effective ways to maximise the benefits of smartphone use, without diminishing employees' flexibility and the use of these technologies.

"People often forget to talk about positive effects, such as autonomy and freedom the employees gain when they have the flexibility to schedule their work," said Postdoctoral Researcher Ward van Zoonen from JYU, who with his colleagues examined the use of smartphones for work matters outside working hours.

The study paid special attention to the benefits of talking about domestic matters with the immediate supervisor outside the working hours given to an employee.

"This reduces the conflict between work and other life," van Zoonen said.

"If people in an organisation strive for more dialogue between employees' different life domains, it is possible to create a functional environment where people can talk about different matters."

The research findings show that when employees communicate across boundaries and talk at work about their life in other respects, they can receive new kinds of support and understanding from their immediate supervisor.

"This kind of communication creates a low threshold for contacting one's supervisor, which helps employees build a balance between the different domains of their lives and strengthens their organisational identification," said Professor Anu Sivunen describing the findings.

This means that tight working time restrictions to protect employees might not be beneficial after all, if they hinder reaching the positive results indicated in this research.

For the study, a survey was taken of 367 employees who were asked questions such as -- how much they talk about their work with their family, and how much they talk about their family with their immediate supervisor.

"Both supervisors and their employees answered the surveys, and the study actually focused on their mutual communication," Sivunen said.

"Usually people at workplaces are interested in how communication within the work community is succeeding. It is often forgotten how an immediate supervisor can take an employer's other life into account and thereby help the employee gain work-related benefits."

"Communication with one's immediate supervisor during flexible working hours, also on matters other than work, could ease the daily lives of many employees if they could share the possible challenges of their family life or free time with their supervisor in these settings," Sivunen added.

According to the study, such a practice could make the supervisor aware of the employee's situation as he/she works from home and the related impacts on their work performances.

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Agencies
May 18,2020

China, where the novel coronavirus originated, has reported 111 cases since beginning of May, which shows the infection rate has dipped, and 3 deaths since April 27, according to the WHO. A Shanghai-based Noida doctor says China is close to winning the battle against COVID-19, and the combination of zinc, hydroxychloroquine (HCQ) and antibiotic azithromycin has been able to save the lives of coronavirus patients.

Speaking to media persons, Dr Sanjeev Choubey, Medical Director Internal Medicine at St. Michael Hospital said this combination has been adopted as a line of treatment for patients infected with coronavirus, and as a result patients are recovering, decreasing their need for intensive care.

What is the line of treatment for COVID-19 patients, which also include asymptomatic patients?

The combination of zinc, hydroxychloroquine and antibiotic azithromycin has produced positive results, and it helped in the recovery of many COVID-19 patients. The combination -- Ascorbic Acid, B-complex, Zinc, Selenium, L-carnitine, Vitamin B-12 and Glutathione normal saline should be administered on patients twice a week for at least 6 weeks. This is COVID-19 treatment protocol for prophylaxis, and it implies both asymptomatic and symptomatic along with other medicine support.

Based on your experience on COVID-19 in China, after how many tests, is it safe to call a person coronavirus free?

The coronavirus should be performed at least 9 times, before terming a patient COVID-19 free. It is a standard in China. This procedure has worked in China and it will also work in India. Minimum five tests should be mandatory through RT-PCR.

Does coronavirus majorly attack the respiratory system or it could lead to organ failure too?

Line of treatment should not be just looking at the respiratory system, as the problem lies somewhere else. COVID-19 attacks many vital organs in the body. In China, a coronavirus patient died from a stroke. In the autopsy it was found that the innermost layer in the arteries was swollen. It was concluded that coronavirus had inflamed the layer of the arteries leading to clotting, which was a factor in generating a heart attack. Therefore, COVID-19 is not just a respiratory problem.

Amid the coronavirus pandemic, should autopsy be made mandatory in the case of unpredictable death or where reasons for death are not unknown?

Patients below 50 years, who die suddenly and the reasons are not known, then it should be mandatory to conduct the autopsy. After death, coronavirus is active in the body for five days, and it fades away on day 6. Therefore, if an autopsy is done then it will help in understanding this disease. In China, we have seen young COVID-19 patients, aged 22 and 28, succumbed to strokes.

Since the beginning of May, India has recorded more than 2,000 cases everyday in the first week, then it jumped past 3,000 mark in the second week. Finally, the tally is 4,987 on May 17. At 90,927 cases, has India progressed into community transmission or Stage3?

Yes, India has moved into Stage 3. The data suggests that 3,000 to 4,000 active COVID-19 cases, who are asymptomatic, are moving around and spreading the infection. The research has indicated that COVID-19 from an infected person spreads in 30 minutes to non-infected persons. The relaxation on the lockdown will certainly contribute to a high infection rate.

Do you think India has reached its peak in COVID-19 cases, or the sharp rise will continue till July end?

It seems India has already reached its peak and cases will begin to come down from June end or beginning of July first week. If social distancing norms are followed then certainly things can improve, but if not followed then it may get worse. High population density is a major contributor for the increase in cases. The government should continue to focus on finding hotspots, and urge people to follow the rules, eventually it is for people’s own benefit.

Has China won the battle against COVID-19?

It seems China has won the battle by not opening up Wuhan. The Chinese are following a COVID-19 patient’s engagement program, where the authorities continuously interact with people infected with the disease. The Government of India should reward people who follow the guidelines; it will help in setting up a positive trend in the society.

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Agencies
April 28,2020

As the world grapples with the impact of the novel coronavirus, daily interaction with the outside world --- public and retail spaces, restaurants, educational institutions, and even with each other has been and will continue to be reoriented prioritising personal hygiene and public health.

The sensibilities are building towards and leading to major changes in how the country's food service industry is expected to operate.

Based on a recent consumer survey by restaurant tech platform, Dineout, Indian diners are now ranking safety assurances and premier hygiene as top factors when it comes to choosing a restaurant to dine in.

The survey by Dineout conducted across 20 cities revealed that in a post-COVID-19 era, 81 per cent diners will prefer digital menus at restaurants, while 77 per cent of people will continue to want to dine out.

The survey found that 23 per cent people would prefer continuing with delivery/takeaway and online payment becomes the most preferred option with 60 per cent votes.
 
Diner's response to Contactless Dining:

 

Over 96 per cent demand better waitlist management
 
81 per cent consumers would rather scan a QR on their phone to place an order instead of handling physical menus or tablet-based digital menus.
 
After a dining experience, 60 per cent prefer seamless wallet-based digital payments over cash/cards 85 per cent would choose a digital valet over waiting in possibly contaminated public spaces and 84 per cent would prefer offering digital feedback over physical feedback collection.

 

What do people want to eat?
 
The report also revealed that most of India has been craving Pizza since the lockdown, except in Chennai, Hyderabad and Kolkata where their popular and indigenous Biryani recipes reign supreme. 
 
Which restaurants are diners waiting to go to?
 
77 per cent respondents claimed that they are waiting to dine out with friends and family once the lockdown is lifted.
 
Big Chill, Barbeque Nation and Social emerged as favourites in Delhi, while Mumbaikars picked Global Fusion, Poptates and Asia Kitchen. Bangaloreans miss going to pubs like Toit, Vapour and Barbeque Nation.
 
Aminia, Arsalan and Momo I Am emerge as the top picks in Kolkata.
 
Contrary to popular belief, Delhitties picked vegetarian over non-vegetarian food.
 
Bangaloreans and Lucknowis would rather have their drinks over food.
 
Besides the new parameters for restaurant selection, the factors deciding consumer delight have also seen a major overhaul as hygiene takes precedence. Consumers would prefer that the total number of reservations in a certain period be limited with the option to pre-select the seating, ample amounts of sanitisers at tables along with UV sanitised utensils whenever possible.
 
Hygiene ratings with detailed hygiene information, regular hygiene checks & usage of mask and disposable gloves by waiters are likely to be the new standard, with diners expecting service personnel to sanitise tables & chairs after every use.
 
Dineout recently unveiled the �contactless dining suite' to help restaurants survive and thrive in a post-COVID-19 world. The brand will also provide PPE Safety Kits to Restaurants to help ensure hygiene measures and is facilitating COVID free certification for restaurants through a licensed lab to ensure all microbiological tests are in place before restaurants restart post the lockdown.

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