NEWS
DPA Announces 2017 Marketing Budget of $57M
Las Vegas: The Diamond Producers
Association (DPA) announced at the JCK show in Las Vegas that its 2017
full-year marketing investment of $57 million has been approved by its board of
directors. The figure more than quadruples last year's budget.
Traders Highlight Rosy Future for Rubies
Hong Kong: Buyers’ unwavering affinity for
rubies, coupled with significant improvements in the global market, is seen to
drive solid demand for the treasured red gemstone throughout 2017.Rubies of Burmese origin will remain highly
sought after among major markets such as China and the US, with prices of
unheated stones bearing the extremely coveted Pigeon’s Blood colour likely to
stay high, according to gemstone experts interviewed by JNA.
India Becomes China’s Second Top Diamond Exporter
Mumbai: India has further strengthened its
bilateral trade with China, exporting diamonds and gemstones amounting to
US$588 million in the first quarter of 2017.
CaratLane Launches Uttarakshin
Mumbai: CaratLane, India's leading
omnichannel jeweller, launches Uttarakshin, a collection which fuses the art of
Gulabi Meenakari with coin jewellery. In India, the traditional art of coin
jewellery flourished in Tamil Nadu. Today, it still thrives as temple
jewellery, usually engraved with religious motifs. And Gulabi Meenakari is a
dying art form, characterised by the addition of pink strokes on white enamel.
It was introduced by Persian enamellists in Banaras in the early 17th century.
The fusion of North Indian art and Indian style, along with the clash of
traditional patterns and modern techniques make this collection a masterpiece.
India’s Economy to Grow by 7.2% in 2017-18
New Delhi: The World Bank believes the
demonetization of high value currency notes last year and the upcoming
introduction of the goods and services tax (GST) will help India’s economy to
grow by 7.2% in fiscal year 2017-18 – the highest rate in the world.
De Beers Confident Diamonds Will Recover
Gaborone: De Beers Group of Companies says
it is optimistic on the group’s outlook of the diamond industry market globally
as there are signs of recovery.
WDM to Collect Diamond Stories at JCK
Hong Kong: The World Diamond Mark
Foundation (WDM) will be present at the JCK Las Vegas show to meet and greet
retail jewellers and ask them to share their special diamond stories. The team
will be at the show from June 5th, the day after the WDM's Keynote Talk on June
4th at Tradewinds C/D, Pool Level of Mandalay Bay, where it will launch Part of
You™, the WDM's global diamond retailer promotion campaign and its brand-new
B2C website www.passion.diamonds.
Antwerp to Celebrate 3rd International Yoga Day
Antwerp: On Sunday 18 June 2017, the third
International Day of Yoga will be celebrated in Antwerp, organized by the
Antwerp Indian Association (AIA) and the Antwerp World Diamond Centre (AWDC).
GSI Demonstrated ‘Live Testing’ Services at CBG
New York: Gemological Science International
(GSI) offered its Live Testing services at the industry most premium event at
the Continental Buying Group (CBG) at Las Vegas.
Rajesh Exports Reports Good Results
Mumbai: (By EVALUATE RESEARCH LTD.) Rajesh Exports reported a good set of
results for FY03/17 [ended March] which were in-line with our revenue estimate
and 3.5% above our EPS estimate. For the
full year, revenues were up 46.5% YoY to Rs. 2,421 bn while the net income was
up 16.3% YoY to Rs. 12.5 bn [EPS of Rs. 42.20 vs. Rs. 36.27 in FY03/16]. Revenue growth was driven by the refining and
retail businesses which did well during the year. It also reflects the full year impact from
the acquisition of Valcambi vs. just 8 months of revenue contribution in
FY03/16. The company’s operating income
increased 2.6% YoY to Rs. 17.3 bn as the revenue growth was significantly
offset by a corresponding increase in the operating expenses which were up 47%
YoY to Rs. 2,404 bn. As a result, the
net income growth mainly came from lower interest costs which came down to Rs.
4.3 bn in the year from Rs. 5.8 bn in FY03/16.