to CER, Ratings agency Standard & Poor’s has downgraded seven Chinese
local-government financing vehicles (LGFVs) on expectations that local
authorities’ reduced willingness to provide bailouts will raise uncertainty for
borrowers, the media reports. S&P downgraded Chinese local governments over
are lowering our long-term issuer credit ratings on seven LGFVs to reflect the
gradual weakening of their roles and links with their local-government
parents,” S&P said in a statement. Regarding the remaining eight
institutions, the agency concluded that “the likelihood of extraordinary
government support” was unchanged.
presented the results of its
luxury and jewelry market research
Q2 of 2018, sales of decorative jewelry increased in all of the world's key
regions, except for India. The average global growth rate was some 5% higher
than during the same period last year.
in the Asia Pacific, the figures were as high as 17%. The positive dynamics
resulted from the continuing expansion of various local players, made possible
by the mounting demand for diamond-based jewelry in continental China. Another
factor that made sales more stable was the improvement of tourist traffic in
Hong Kong and Macao.
Petra Diamonds Limited announces its preliminary results (unaudited) for
the year ended 30 June 2018. According to the result report, Revenue remained up
by 25% to US$495.3 million over the FY 2017 of US$394.8 million. Profit from
mining activities gone up by 33% to US$205.1 million over the previous FY 2017
of US$153.9 million. Previously Petra had reported Koffiefontein impairment
charge of US$66 million.
five-year licence expires in 2023
Diamond Company Limited announces that a new Mineral Investment Contract has
been gazetted by the Angolan Ministry of Mineral Resources and Petroleum for
the Lulo kimberlite exploration licence. The MIC covers a five-year period
through to 30 April 2023.
is a co-owner and operator of the kimberlite exploration program on the highly
prospective 3,000km2 Lulo concession, which is run in parallel with the high-value
alluvial diamond mining activities, conducted via Sociedade Mineira Do Lulo.
Arkhangelskgeoldobycha was officially renamed ‘JSC AGD Diamonds’ recently due
to its new marketing policy and the brand’s international positioning aimed at
its customers, the buyers of rough diamonds.
the month of June, the company produced 234,000 tons of ore at the Grib Diamond
Field and raked in more than $46 million from rough sales.
Group, one of the few conglomerates covering the entire spectrum of mining,
sourcing, manufacturing and distributing coloured stones, diamonds and
jewellery was recognised as the Outstanding Enterprise of the Year, India Award
at the seventh annual JNA Awards that was held alongside the September Hong
Kong Jewellery & Gem Fair.
on this occasion, Sanjay Kothari, Vice Chairman of KGK Group, remarked, “We
would like to express our gratitude to the respected jury who acknowledged us
with the Outstanding Enterprise of the Year-India Award. It was truly an honor
to receive this award amongst industry’s elite and eminent personalities,
recognizing KGK’s exemplary business practices & standards. With years of
hard work and fore vision, I am proud to dedicate this award to the persistence
diligence and dedication of KGKians”.
events, organized by leading Italian and International exhibitors among others,
will be staged at Vicenzaoro The Jewellery Boutique Show September– Italian
Exhibition Group’s splendid European trade show specifically for international
Gold and Jewellery, scheduled to take place in Vicenza from 22nd to 26th
September 2018. A calendar of events that has becoming fuller by the day.
the opening day of the September edition of Vicenzaoro will be
Visio.Next:Trends, one of the most awaited events featuring a round table of
debate on the future of jewellery, to be held on Saturday 22nd September (10
am, Sala Tiziano HALL 7.1). Specifically, the most authoritative key players on
the global market will be discussing the jewellery world’s latest trends, consumer
modalities and the market situations destined to leave a mark.
war may last for two decades!
Executive Chairman Jack Ma told businesses that the country’s trade war with
Washington will not be over anytime soon, and that they must be prepared, media
reports. Speaking at an Alibaba investor day meeting in Hangzhou, Ma said the
conflict could last up to 20 years, with the economic fallout being larger than
term, business communities in China, US, Europe will all be in trouble,” said
Ma. “This thing will last long. If you want a short-term solution, there is not
a solution.” “We should not focus on this quarter or next quarter or next
year’s profit. This is a huge opportunity,” he added.
Forevermark launches the Campaign
Forevermark’s New Campaign
the diamond brand from The De Beers Group of Companies, has launched the ‘The
Better Half Within’ Campaign, a reflection of the poised, powerful, and
self-determined personality of the woman of today.
campaign includes a film and will utilize national media channels such as TV
mainlines, set of print and outdoor ads, digital display, social media, radio
channels, and in-store. The campaign will debut on TV with 30 and 50 second
commercials, to be screened on 15 September 2018. The TVC will be shared on
social & digital with shorter edits.
Mining Limited announces that it has signed a Services Agreement for Mining and
Marketing of Diamonds with Cooperativa Mineira Do Moquita, SCRL on a 147 square
kilometer portion of a concession located 50 km north of Lucapa within the
Lauchimo River basin, Province of Lunda Norte, Republic of Angola.
is responsible for capital expenditures associated with alluvial diamond mine
design and equipment acquisition as well as enhancing production. As
remuneration, Tango will receive 60% of the proceeds from the sale of produced
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