World’s largest hybrid gold meet at the Armani Hotel, Burj Khalifa attracts 100 plus countries participation.

IBMC International showcased its unique “Industries Integrated International Trade Flow System” for Global Gold Industry Projects and Trades.

DUBAI:

The UAE has emerged as the global hub for sustainable gold and bullion markets, with the 5th Global Gold Convention bringing the global gold industry on a single platform for collaborations, investments, joint ventures, and a novel integrated trade flow system with global best practices.

The 5th edition of the Global Gold Convention 2023, the world’s largest hybrid gold conference, was held in Dubai at Armani Hotel, Burj Khalifa, on December 12, 2023, with the theme “UAE, The Global Hub for Sustainable Gold and Bullion Markets’.

The UNDRR (UN Office for Disaster Risk Reduction) was the Sustainability Partner for the convention.

The Convention, designed as the world’s largest hybrid conference, saw participation by more than 100 countries, ministers, diplomats, regulators, industry leaders, mines, refineries, jewellers, traders, import-export companies, banking, insurance, and logistics companies from across the world, paving the way for collaboration, business promotion, expansion, and diversification.

More than 200 trade delegates and visitors participated physically apart from virtual participation from 100+ countries, in the most sought-after exclusive Global Gold Conference from the region.

Global Gold Convention was organised by IBMC International, UAE-based Economic, Industry & Corporate Advisors and eMarketplace Service Providers which is connected with 100+ countries and integrated with 30+ Sectors.

The event was inaugurated by HE Humaid Ben Salem, Chairman of International Chamber of Commerce & Industry (ICC UAE) and Secretary General, Federation of UAE Chambers of Commerce & Industry (UAE Chambers).

The Convention was held against the backdrop of high volatility in global gold prices and the UAE becoming the most attractive and most preferred global gold trade hub.

The theme Sustainability has been chosen in line with the UAE hosting the COP28 Conference on Sustainability,” said Mr. Sajith Kumar P.K., Group CEO and Managing Director, IBMC International Group.

In his address, Mr. Sajith Kumar said the “UAE is emerging as the Global Hub for Sustainable Gold and Bullion Markets and IBMC’s “Industries Integrated International Trade Flow System” is set to support the entire Gold Industry stake holders from Gold Mining, Exports, Imports, Refineries, Gold Retail Markets, Jewellery Manufacturing Units and Re-exports”.

Mr. Jeffrey Rhodes, industry expert and Founder & Managing Consultants, Rhodes Precious Metals Consultancy DMCC, who delivered the special industry address on Cop28UAE, said : “The Global Gold Convention 2023 was an excellent event that gave participants the opportunity to express a wide range of views and opinions about the bullion market, including the impact of COP28 on the global gold industry. This included the efforts being made by many companies, including Gold Clean Processing Initiatives to turn the ecological tide and help push the artisanal and small scale gold sector in the right carbon neutral direction with new technology to eliminate the use of toxic chemicals such as mercury in the gold recovery process, while dramatically improving gold yields.”

The Convention offered the participants a comprehensive platform to showcase the entire gamut of gold trade and business and explore potential investment and partnership opportunities through networking, interactive sessions and industry-focused panel discussions.

The high-profile Diplomatic Conclave proved a major draw and beneficial to the participants, with the diplomats presenting the opportunities in the mining, refining, trading, and jewellery manufacturing sectors in their respective countries.

Mr. Anoop P. S., Group CBO and ED, delivered the welcome speech. Mr. Venu V. K., Director, IBMC Trade Flow Ventures, and Ms. Monika Agarwal, Partner of IBMC International, were also present at the convention.

The highlight of this year’s Convention was the recently launched, and first of its kind from the UAE, Industries Integrated International Trade Flow System (IBMC Trade-Flow System) by IBMC International which extended its corporate listing due diligence to all the participating companies in the Convention. Each participant company qualified for corporate listing to get international reach as the first step of due diligence activities out of the five steps in the IBMC Trade-Flow System.  Corporate Listing will help each company attract investment partners, technology partners, and trade partners for expanding their projects and trades to 100+ countries that are connected to the IBMC Trade-Flow System.

UAE-based IBMC International Group is a leading Economic, Industry & Corporate Advisory and eMarketplace Service Provider (IBMC Trade-Flow System) which is connected to 100+ countries and integrated with 30+ sectors. It is an internationally recognized private institution pioneering in professional areas of industry innovations, business, and joint venture strategies.

IBMC International is the recipient of the region’s highest recognitions, such as the Sheikh Khalifa Excellence Award (SKEA) in the Professional Sector, instituted by the Abu Dhabi Chamber of Commerce & Industry, the Corporate Social Responsibility (CSR) Label Award from the Dubai Chamber of Commerce and Industry, and a United Nations (UN)-shortlisted company for Sustainable Development Goals.

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Meet to see participation from more than 100 countries

Dubai:       

The fifth edition of the Global Gold Convention 2023, the world’s largest hybrid gold conference, will be held in Dubai at Armani Hotel, Burj Khalifa, on December 12, 2023 with the theme “UAE, The Global Hub for Sustainable Gold and Bullion Markets’.

This year’s Convention has been designed as the world’s largest hybrid conference for participation by more than 100 countries, ministers, diplomats, regulators, industry leaders, mines, refineries, jewellers, traders, import-export companies, banking, insurance and logistics companies from across the world, paving the way for future collaborations, business promotion, expansion and diversification, according to a press release.

More than 200 trade delegates and visitors from countries are expected to participate in the most sought-after gold conference in the region.

Global Gold Convention is organised by IBMC International, the UAE-based financial services consultancy and eMarket Place Trade Flow Service Providers, and co-organised by the International Chamber of Commerce & Industry UAE (ICC-UAE) and the Federation of UAE Chambers of Commerce & Industry (UAE Chambers).

“The Gold Convention is held in the backdrop of the global gold industry witnessing unprecedented volatility and UAE becoming the most attractive Gold Hub for all gold industry stakeholders. The theme, Sustainability, has been chosen in line with the UAE hosting the COP28 Conference on Sustainability,” said Mr. Sajith Kumar PK, Group CEO and Managing Director, IBMC International.  The United Nations Office for Disaster Risk Reduction (UNDRR) is the sustainability partner of the event.

The event will be inaugurated by HE Humaid Ben Salem, Chairman of International Chamber of Commerce & Industry (ICC UAE) and Secretary General, Federation of UAE Chambers of Commerce & Industry (UAE Chambers).

HE AHMED ELMETWALLY MOHAMMED, CEO & General Manager, Office of HH SHEIKH MOHAMED BIN AHMED BIN HAMDAN AL NAHYAN, Abu Dhabi will deliver the special address from UAE.

Mr. Jeffrey Rhodes, industry expert and Founder & Managing Consultants, Rhodes Precious Metals Consultancy DMCC, will deliver the special industry address on Cop28UAE and the major impact on the global gold industry.

The Convention offers the participants a comprehensive platform to showcase the entire gamut of gold trade and business activities and explore potential investment and partnership opportunities through networking, interactive sessions, industry-focused panel discussions and a unique Diplomatic Conclave where ministers, ambassadors, industry leaders and experts will discuss investment opportunities and industry trends.

A highlight of this year’s Convention is the introduction of IBMC’s Industries Integrated International Trade Flow System tailored exclusively for the participating companies. Each participating companies will  qualify for Corporate Listing to get international reach as the first step of due diligence activities.

Corporate Listing will help each companies to attract Investment Partners, Technology Partners and Trade Partners for expanding their projects and trades internationally.

UAE-based IBMC International Group is the Economic, Industry & Corporate Advisors and eMarketplace Service Providers which is connected with 100+ countries and integrated with 30+ Sectors. IBMC International is an internationally recognized private institution pioneers in their professional areas of Industry Innovations, Business and Joint-Venture Strategies.   IBMC International is the recipient of Region’s highest recognitions such as Sheikh Khalifa Excellence Award (SKEA) in Professional Sector from Abu Dhabi Chamber of Commerce and Industry, Corporate Social Responsibility (CSR) Label Award from Dubai Chamber of Commerce and Industry and United Nations (UN) shortlisted company for Sustainable Development Goals.

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Founded in 1994, IndusInd Bank is one of the leading private sector banks in India today. The bank’s products and services can be broadly divided into three categories — Personal Banking, NRI Banking and Business Banking.

IndusInd Bank is the first bank in India to be ISO 9001: 2000 certified for its corporate office and entire banking network. In 2004, Ashok Leyland Finance merged with Indus Ind Bank. At present, IndusInd Bank has 1,320 branches and 2,162 ATMs.

IndusInd Bank has put up good performance in the current financial year. The bank’s net profit rose 5 per cent to Rs 985.03 crore in the second quarter, compared to Rs.936.25 crore during the same period last year. Net interest income stood at Rs.2,287 crore. Net interest income grew by 21%. The bank reported better-than-expected profit growth in the second quarter.

The bank’s non-performing assets (NPAs) increased during the second quarter. Total NPAs increased from 1.09 per cent to 1.13 per cent. Net non-performing assets increased from 0.48 per cent to 0.59 per cent. Due to the increase in the balance on bad debts to Rs.607 crore, it was not possible to achieve adequate growth in profits.

IndusInd Bank is the best private bank that keeps things in balance in the business. IndusInd Bank has been able to establish a strong presence and diversify its presence in corporate banking and retail banking.

Banking is one of the most promising sectors in the coming years. IndusInd Bank is a stock that can be considered by those who want to invest for the long term in view of the potential for high growth in the sector.

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This week saw the stock market trade within a certain range. The strong pressure on the Nifty at 11,377 points could not be overcome. On August 11, it touched this level but went down due to selling pressure. At the same time, the Nifty did not fall below 11,240 points. The Nifty traded within a tight range of 100-150 points. At the same time, there was a sharp fluctuation within this range.

The stock market was not affected by the stocks that led the market in the previous weeks. Last week, private banks and Reliance Industries led the market. At the same time, this week saw Reliance trading within a range. Shares of private banks were also seen selling. At the same time, investors were interested in buying shares of public sector banks. There was surge in L&T. This is a stock that did not have a significant share in the earlier market gains.

There was no significant reaction in the market to the news about COVID-19. The news that Russia has approved a vaccine of COVID-19 moved the market only for a day. The market also ignored news of an increase in the number of COVID-19 patients. The effects of the announcements made by the Reserve Bank of India last week did not continue this week.

The market is expected to move within a fixed range next week as well. Nifty will face pressure on 11,377. If it breaks through that point the next pressure level is at 11,550.  The market is supported at 11,000. If it plunges below that and goes down the next support is at 10,800. It is likely to trade between 11,000 and 11,377 next week. There must be some significant events if there needs to be any break through in this range. The availability of funds has kept the market afloat. The fluctuation is likely to continue next week.

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President Ram Nath Kovind has promulgated the Banking Regulation (Amendment) Ordinance, 2020, to ensure safety of depositors across banks.Thus,India, on Saturday, brought cooperative banks under the regulatory framework of the Reserve Bank of India (RBI) by amending the seven-decade old Banking Regulation Act through a presidential decree.

The Ordinance amends the Banking Regulation Act, 1949, as applicable to Cooperative Banks. The Ordinance seeks to protect the interests of depositors and strengthen cooperative banks by improving governance and oversight by extending powers already available with RBI in respect of other banks to Co-operative Banks as well for sound banking regulation, and by ensuring professionalism and enabling their access to capital.

The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws. The amendments do not apply to Primary Agricultural Credit Societies (PACS) or co-operative societies whose primary object and principal business is long-term finance for agricultural development, and which do not use the word “bank” or “banker” or “banking” and do not act as drawees of cheques.

The Ordinance also amends Section 45 of the Banking Regulation Act, to enable making of a scheme of reconstruction or amalgamation of a banking company for protecting the interest of the public, depositors and the banking system and for securing its proper management, even without making an order of moratorium, so as to avoid disruption of the financial system.

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KOCHI: Airtel Payments Bank has partnered with Mastercard to build customised solutions for payments for farmers and SMEs. The companies aim to cater to underbanked spectrum of users and enable digital adoption via the partnership.
“The collaboration aims at building a digital platform which provides farmers with knowledge about advanced farming techniques and connection to marketplaces, while simultaneously enabling them to receive payments directly in their Airtel Payments Bank account,” according to a company said in a statement.
Airtel Payments Bank currently hosts 4 crore customers across 5 lakh banking points.
“These solutions will enable them to access a larger market base, receive payments easily into their bank accounts, safeguard their money against risks associated with cash and get easy access to credit,” Porush Singh, Division President, South Asia, Mastercard said.

Airtel Payments Bank and Mastercard will work together to create differentiated card solutions, including solutions for contact less payments via NFC (Near Field Communication) for customers and merchants. NFC payment works when users pay with their smartphones in lieu of credit cards simply by waving their phone in front of a terminal.

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