NEWS
New York: Sales of fine jewellery and fine
watches rose by 6.2 percent in the U.S. market in February 2017, when compared
to the same month a year ago.
Surat: A summary of the findings of the study
on the synthetic diamond landscape carried out by Bonas & Co for the
GJEPC’s Natural Diamond Monitoring Committee (NDMC) and released at the DDES
2017 estimates the current peak installed capacity of synthetic diamond
manufacturers worldwide to be between 2.3 mn to 4.2 mn, or about 2-3% of total
natural diamond supply.
Mumbai: India’s finance ministry is
formulating a policy to auction gold deposited with banks under the Gold
Monetisation Scheme (GMS) which will pave the way for purchase of the precious
metal by jewellers. This will also mark the complete rollout of the scheme that
was launched in November 2015 to trim imports and check current account
deficit, reports Financial Express.
Ramat Gan: The Israel Diamond Exchange
(IDE) has published a code of ethics written specifically by Israeli professor
Asa Kasher, the IDI portal announced.
Surat: The GIA (Gemological Institute of
America) will introduce for sale later this year an easy-to-operate,
sophisticated desktop instrument to reliably identify natural diamonds,
separating them from all simulants and from diamonds that may be synthetic or
treated.
New York: Signet Jewelers Ltd, the world's
largest diamond jewelry retailer with around 3,600 stores in the United States,
Canada and the UK, is launching its inaugural Corporate Social Responsibility
Report.
Hong Kong: Hong-Kong based Chow Tai Fook,
reports strong retail sales growth in the fiscal fourth quarter, reversing 12
consecutive quarters (3 years) of same store sales decline in Hong Kong and
Macau, dating back to Q4 2014. The uptick was strongest in Mainland China,
where overall retail sales value increased 16% while same store sales rose 12%.
Overall and same store sales in Hong Kong and Macau rose by 1% and 4%
respectively.
Perth: ‘Chocolate’ diamonds have gained in
popularity in recent years, to the chagrin of many purists. For years some
diamond jewelry companies have been accused of generating a hype about diamonds
traditionally seen as bottom-the-barrel stones, effectively deceiving end
consumers by rebranding brown diamonds as ‘chocolate’. Jezebel and the Daily
Mail have gone so far as to call these jewelers “liars” who are “fooling
women”, claiming the name and marketing of the chocolate diamond is insulting:
“Women won’t be able to resist, because it’s chocolate! Women won’t care that
they’re just brown rocks if we call them chocolate!” Why then are chocolate
diamonds growing in popularity?
Mumbai: The Gem & Jewellery Export
Promotion Council of India (GJEPC) is setting up the Indian Institute of Gem
& Jewellery (IIGJ) at Varanasi in Uttar Pradesh and Udupi in Karnataka to
enhance artisans skills for gem & jewellery sector.
Gaborone: The De Beers Group has scored a
major coup against Diamond Trading Company Botswana (DTCB), rigging the odds
against Botswana as the country prepares to re-negotiate the Diamond Sales
Agreement which lapses in 2020 and reversing achievements of the De Beers
relocation from London to Gaborone.
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