GemGossip - jewellery industry news, trends, designer profiles, celebs jewellery, scandals: global gloss

Showing posts with label global gloss. Show all posts

Showing posts with label global gloss. Show all posts

Strong diamond presence at the Hong Kong Jewellery Show

"...The diamond venue, which hosted the Belgium and Israel pavilions, is denser than the regular area, but placing everyone together in smaller quarters resulted a concentrated environment. Many traders reported good business, even though the first day tends to be a more exploratory day for buyers. The Fine Design Pavilion, where the high-end companies exhibit, saw especially good business, as buyers are clamoring for large stones of four carats and higher. Some were willing to buy lower color stones just to meet strong demand from clients..."

Courtesy - idexonline.com

Jaipur gems on eBay India soon!

"...eBay India sellers sell an article of clothing or accessory globally every six minutes while nine pieces of jewellery are sold every hour..."

Courtesy - newkerala.com

Indian diamond manufacturers to explore new markets

"...As India's rupee continued to gain against the dollar, the country’s diamond and jewelry manufacturers are looking to boost trade with new markets. “People are already looking at...Russia, Japan, and the Middle East to boost sales and offset the rupee's appreciation,” Sanjay Kothari, chairman of the Gem and Jewellery Export Promotion Council, told Rapaport News. “The mood is not encouraging at the moment within the diamond trade...”

Courtesy - diamonds.net

Malabar Gold launched in Dubai

"...The Dh1.3 billion group inaugurated its first wholesale jewellery showroom yesterday at the Gold Centre Building at Dubai Gold Souk. "Dubai is the haven of the Gulf in gold business," said Ahammed. The group plans to open at least 12 outlets in the Gulf by next year. Its first retail outlet in the Gulf will be inaugurated in Dubai by the end of this year. The wholesale unit will showcase a wide range of traditional Indian ornaments that will be offered to customers in the Middle East..."

Courtesy - gulfnews.com

IIJS 2007 drew more than 36,000 visitors

"...Many overseas jewelry exhibitors pointed to India’s vibrant and growing middle class market as a reason for their appearance at the show and their entry into India; for diamantaires, the recent waiver of duties on polished diamond imports into India boosted their presence at the show. Bob Golden of Leo Schechter Diamonds attended the show under the banner of Kama Schechter, the company’s Indian jewelry manufacturing collaboration, which began operating within the past year. “It’s been a very busy show” he said. “The Indian domestic market is really growing. The U.S. market is stable or incremental at best. India is the place to be for people looking for a growth market. It’s probably the hottest market at the moment.” According to Golden, the greatest buzz has been around wrist-wear and necklaces. “These are also popular pieces in the U.S. right now, but for different reasons. Here these items are culturally always in demand...”

Courtesy - idexonline.com

Indian jewellery association discuss mandatory hallmarking

"...The new Act will make hallmarking mandatory from January 1, 2008, and in the first phase, it will be implemented in the four metros areas of Delhi, Mumbai, Kolkata and Chennai. Over 300 jewelers attended the meeting, which was marked by lively interaction onstage between GJF leaders and Bureau of Indian Standards (BIS) representatives and vocal audience participation from the floor. While the GJF welcomes jewelry hallmarking as being “in the interest of the jewelry industry and consumers at large”, it also says that it has been “regularly coordinating with the government and its regulatory bodies to make sure that it is implemented smoothly without creating panic and chaos in the trade...”

Courtesy - idexonline.com

FII's pick up stake in Gitanjali and Shrenuj & Co.

"...A string of foreign institutional investors (FIIs), including Citigroup, Morgan Stanley, Goldman Sachs and BSMA, have picked up a combined stake of over 7% in Gitanjali Gems, a Mumbai-based diamonds and jewellery company. The four FIIs have bought the stake over the past few weeks by way of secondary market purchases. They invested Rs 114 crore to buy the equity through different block deals struck at prices ranging between Rs 208 and Rs 298 between July 9 and September 3 on BSE and NSE..."

Courtesy - indiatimes.com

"...India's Shrenuj & Company said Goldman Sachs (NYSE:GS) Investments and UBS (NYSE:UBS) Securities have acquired 6.28 pct in the diamond and jewellery manufacturer at 42.50 rupees a share. The company said Goldman Sachs Investments bought 2 mln shares or 3.19 pct of the company's issued capital, while UBS Securities bought a 3.09 pct stake or 1.93 mln shares..."

Courtesy - cnn.com

Escada and Pluczenik jewellery launched in India

"...This "lifestyle collection" of refined pieces was inspired by the joie-de-vivre so central to Escada's philosophy and represented a wide range of effects - sporty and cool, romantic and dreamy, very classic or very glamorous - that highlighted their role as independent, style-setting fashion elements. The jewellery both complements Escada's fashion items and stands on its own as bona-fide fine jewellery. The collection includes a wide selection of bridal designs and some stunning unique "Wow" pieces that you might want very much to have..."

Courtesy - cybernoon.com

Indian company launches an ERP software for jewellers - Crown24K

"...The Indian Gems & Jewelry industry has many critical areas that stand to benefit from Crown24K™. These include Jewelry Manufacturing; Precious Metal / Stone / Diamond Management; Jewelry Inventory Management; Jewelry POS; Financial Accounting / CRM / Promotions Management; Bar-Coding / RFID support and Image Linking; Human Resource Management; Business Reports and MIS. Crown24K™ has been built with the specific objective of addressing real-time issues and providing need-based solutions..."

Courtesy - indiaprwire.com

De Beer’s sub-sea mining ventures recovers 22,000 carats in its first month of production

"...Cape Town-based De Beers Marine’s general manager Burger Greeff says full production started on 16 June and the vessel has recovered 22 000 carats during the first month of production. Although it is early days yet, this equates to an annual production rate of around 264 000 carats - 10% higher than the initial projections. And, says Greeff, “the crawler performed well and early indications are that the vessel will exceed the planned mining rate and utilisation...”

Courtesy - cbn.co.za

Congo's efforts to stop blood diamonds under scrutiny

"...The central African country was expelled in 2004 from the Kimberley Process, which regulates the majority of world diamond sales, because it could not account for most of its exports -- which were 100 times more than estimated local production. Mines Ministry Director-General Louis-Marie Djama said a Kimberley Process team had arrived on Tuesday for a week-long mission to assess the country's efforts to improve traceability. The team will visit the northeastern region of Likouala, where most of Congo's diamonds are mined, Djama said. Industry officials say the Congo Republic has been used as a conduit for diamonds mined across its borders in the larger Democratic Republic of Congo and Angola..."

Courtesy - reuters.com

Classic Diamonds to partner with retail outlets in UAE!

"...Classic Diamonds will market products via 6 retail outlets there. The tie up will supposedly add Rs 80 crore to the topline of the company in FY08. While, the margins are seen at 25-30%. Classic Diamonds current jewellery business accounts for about 25% of revenues. After the tie up, the jewellery business will contribute 40% of revenues..."

Courtesy - moneycontrol.com

Is the Arctic home to "tons" of diamonds?

"...The Arslanian Cutting Works is one small part of a multibillion-dollar Canadian diamond industry. This company at the top of the world has grown from nothing to something in less than two decades. Its manager, Bob Bees, says some diamonds are imprinted with a microscopic polar bear. "Our diamonds are special, because not only are they mined in Canada, they're manufactured in Canada," Bees says. And it's implied that part of the value of these diamonds is that they are not from a war zone..."

Courtesy - npr.com

Turkey considering to set up a Diamond Exchange

"...According to a report by Turkish Daily News (TDN,) Atasay Kamer, chairman of jewelry exporter Atasay, said that the Istanbul Chamber of Jewellers and jewelry exporters were working on establishing the exchange on the premise that Turkey’s geographical status could allow it to become a diamond trading hub in the region. He added that plans for the exchange would become clearer over the next six months. Diamond imports into Turkey reached $700 million in 2006 and are expected to rise to $1 billion in 2007, the newspaper reported citing industry officials. Local jewelers are also lobbying government to abolish a 20 percent tax currently imposed on diamond imports, as part of their efforts to make the exchange feasible..."

Courtesy - diamonds.net

$2.7million diamond factory to be set up in Namibia

"...Dali Diamond, which was established in 1958, plans to manufacture, distribute and market diamonds from Namibia. The company has made a firm commitment to recruit local Namibians for its polishing factory. Dali’s factory, which will use state-of-the-art electronic and mechanical manufacturing equipment, intends to offer a specialized training program conducted by leading experts to educate a Nambian team on all aspects of rough diamond manufacturing. “Dali is committed to Namibia,” says Director Isi Morsel. “We will help develop the local economy by making sizeable investments in training local workers, bringing new skills to the economy and installing a state-of-the-art technology. We also believe in the value-creating potential of branding the Namibian origin...”

Courtesy - diamondintelligence.com

Thai association to support Sri Lanka gem and jewellery trade

"...TGJMA said that they are ready to commence the training programme and for us to nominate the selected trainers to undergo the programme. Initially it is expected to send trainers on jewellery manufacturing nominated by Gem and Jewellery Research Training Institute (GJRTI) on jewellery designing and jewellery manufacturing and the Sri Lanka Gem and Jewellery Association (SLGJA). TGJMA has invited the NGJA chairman who was instrumental in negotiating the training packages to be their guest during the forthcoming Bangkok Gem and Jewellery Fair which will be held from September 18-22..."

Courtesy - sundayobserver.lk

War times good for diamond dealers?!

"...The authors of a forthcoming study that the articles are based on argue that the share price of the mining companies who had extracted Angola's diamonds amid the chaos of war plunged because the fortunes they'd made from its diamond mines relied on the treacherous conditions created by civil war. Wartime Angola was a very expensive place for diamond miners to operate because of the bombed-out roads, kidnappings, and other hazards of operating in a conflict zone. Companies employed guns-for-hire to keep their operations safe from rebel attacks. The cost of protecting a mine alone could run as high as $500,000 (Sh34m) a month. And to keep mines safe from government meddling, paying bribes was reportedly the norm. Very few companies want to do business in such conditions, but the ones that do make massive fortunes..."

Courtesy - allafrica.com

Sri Lanka's plans to develop its gem trade

"...Updating laws on gem mining and trade, value addition and better certification methods will help Sri Lanka to develop the country's gem industry, officials said. Minister of export development and international trade G L Peiris, opening the Facets2007 gem exhibition said the country's policy structure that addresses the concerns of the gem trade is somewhat outdated and it has to be reformed to suit the current developments..."

Courtesy - lankabusinessonline.com

IDL first to issue colour grade certificate for diamonds

"...Dubai’s International Diamond Laboratories (IDL) has introduced its latest technologies at the International Jewelry Show (IIJS) in Mumbai. The diamond lab has announced it will begin to issue the world's first diamond Color Certificates through using an innovative technology, the Color Meter, which allows the lab to perform accurate and automated color grading..."

Courtesy - diamondintelligence.com

Damas Group plans USD 408 million IPO

"...Damas Group, the leading jewellery retail chain in the UAE, Middle East and South Asia, is entering a phase of accelerated growth and new corporate structures as it strikes out with a plan for 450 stores in 26 countries by 2008. Damas plans to raise as much as US$408 million from an initial share sale to help finance its international expansion..."

Courtesy - bi-me.com

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