Dates Set for Rival Thailand Jewellery Fairs

Bangkok: Following industry confusion last year, the 2017 dates and venues of Thailand’s two independently organised jewellery fairs appear to have been finalised.

F. Hinds is WDM’s Authorised Diamond Dealer

Hong Kong:  F. Hinds, established in 1856 and the leading British, family-owned retail jewellery chain, has joined the World Diamond Mark (WDM) Authorised Diamond Dealer programme this month. With 118 stores in the United Kingdom, F. Hinds is the first British retailer to join the WDM and carry the WDM Authorised Diamond Dealer Seal in all its stores.

Industry Expects Incentives in the Budget

New Delhi: India’s Government may announce some measures like cut in the gold import duty and incentives to set up gems and jewellery parks in the next Budget to promote growth of the industry.

India’s Gold Demand May Reach 950T by 2020

Mumbai: The World Gold Council (WGC) yesterday launched the report titled ‘India’s Gold Market: evolution and innovation’. This report explains the entire supply chain for India’s gold market– from imports and recycling through to consumer demand – and how it is likely to develop in the coming years. It also provides an overview of existing gold-related policies and how they have evolved over recent years.

HKTDC Announces World’s Largest Jewellery Show

Mumbai: Two of the jewellery industry’s leading trade fairs are set to open in Hong Kong in late February to early March. Organised by the Hong Kong Trade Development Council (HKTDC), the 4th Hong Kong International Diamond, Gem & Pearl Show will take place from 28 February to 4 March at the Asia World-Expo, while the 34th Hong Kong International Jewellery Show will open from 2 to 6 March at the Hong Kong Convention & Exhibition Centre.

De Beers’ Sells $720 mln Rough in First Cycle

Gaborone: De Beers rough-diamond sales jumped 32 percent year on year to $720 million during its first sales cycle of 2017 as manufacturers restocked following the holiday season, according to a press statement issued by the Company.

J.C. Penney May Close More Stores

New York: J.C. Penney CEO Marvin Ellison told a Dallas real estate conference the department store will likely have to close more stores.

“We have certain locations that we readily admit we have to downsize,” he said, according to The Dallas Morning News.

ZCDC Seeks $300mln for Recapitalisation

Harare: The Zimbabwe Consolidated Diamond Company (ZCDC) is currently engaging local banks to secure about $300 million for equipment and expansion of its operations, according to media reports.

Petra Revenue Gets High Jump

Johannesburg: Petra Diamonds said revenue leapt 48 percent in the first fiscal half because of steady demand following a stabilization in the rough market.

Sales grew to $228.5 million during the six months that ended December 31, the miner reported. Excluding ‘exceptional’ diamonds, revenue rocketed 51 percent from a year ago to $217.6 million. Total sales by volume jumped 47 percent to 1.9 million carats.

DEF Held First Screening in New York

New York: The Diamond Empowerment Fund (DEF) has held an exclusive first U.S. screening in New York of A United Kingdom.

The movie chronicles the early years of Botswana’s rise from poverty to become what is now the second-largest producer of diamonds in the world. The movie, starring David Oyelewo and Rosamund Pike, will be released to the general public on February 10.