NEWS
Toronto: Lucara Diamond Corp. expects
revenue to hit $295 million in 2016, implying a 32 percent surge from a year
ago, following the sale of the most expensive rough diamond in history.
The Canada-based miner sold the 813-carat
Constellation diamond for a record $63.1 million, or $77,649 per carat, to
Dubai-based Nemesis International in May. Full-year revenue including that
stone is expected to come in at an average of $823 per carat, the company said.
Tel Aviv: An Israeli company has invented a
machine, currently undergoing advanced large-scale testing in India, that it
claims instantly grades the clarity of polished diamonds.
The new ground-breaking system is likely to
be marketed from mid-2017 by Sarine Technologies which has offices in Surat and
Mumbai and employs about 450 people.
Dubai: The world’s purest and second
largest Russian Alexandrite gemstone is now available on sale at Dubai
International Jewellery Week for a cool US$2million.
The stone, which weighs 9.65cts, has been
certified by GemResearch Swisslab (GRS) and Swiss Foundation for the Research
of Gemstones (SSEF). It has already
attracted a lot of interest from visitors to the four day shopping
extravaganza, with a number of people expressing an interest in how it could be
set into a unique ring or necklace design.
Mumbai: India’s gold import in November was
the highest in this calendar year, due to a sharp increase in demand from
bullion dealers and stockists. Trade sources estimate import at 100 tonnes, as
compared to 98 tonnes in the same month last year and 84 tonnes in October,
reports Business Standard.
Dealers and stockists were anticipating a
sharp rise in jewellery demand this wedding season, before the demonetisation
of high value currency notes was announced on November 8. With that
announcement, consumer demand for gold jewellery halted, resulting in a
cascading effect on gold demand from jewellers, too.
Mumbai: Rising middle class and greater
awareness of global brands helped luxury market in India to grow by 25 per cent
to USD 18.5 billion, says a report.
"Growth drivers have contributed to
the remarkable 25 per cent growth in the Indian luxury market from 2015 to 2016
- from a USD 14.7 billion to a whopping USD 18.5 billion," the CII-Kantar
IMRB 2016 report on Luxury said.
As per the report, aspirational and younger
middle class, rising Internet penetration leading to greater exposure to
available products and services, increase in choices and greater awareness of
global luxury brands have contributed in the growth of the sector.
Mumbai: Tanishq, the jewellery brand under
Titan, plans to leverage the digital presence of online jewellery retailer
CaratLane to increase its digital presence to woo tech-savvy buyers, especially
in the low-ticket purchases. This comes in the backdrop of Titan embracing an
omnichannel approach to revive growth and stay in tune with changing business
scenario, reports Business Standard.
In July, Titan had bought a majority stake
of about 62% in CaratLane for Rs 357 crore. “The assimilation (between the two
firms) is happening. We bought it because we believed the exclusive potential
in the online jewellery space,” said C K Venkatraman, chief executive officer
of Tanishq.
Perth: CEO of Rio Tinto, Jean-Sebastien
Jacques has said that the group would be looking to expand its diamond
business. The statement was made during an interview with Bloomberg TV.
Earlier this year, as part of a
restructuring exercise, Rio Tinto had brought its diamond and copper businesses
under a single division, which had led to speculation that it may consider
divesting its diamond assets.
Ramat Gan: Alrosa President Andrey Zharkov
will be a guest of honor of the International Diamond Week in Israel (IDWI)
being held February 13 – 16, 2017 at the Israel Diamond Exchange (IDE.) His
visit is timed to coincide with the opening of the IDE International Tender
Center, which will house tenders of rough and polished diamonds by major rough producers
and diamond traders.
Antwerp: To fully accommodate the true
needs of our customers in what can be a highly versatile and fluctuating
market, HRD Antwerp has decided to optimize our pricing to provide a more
flexible and transparent service.
The most important change to the new
pricing structure is that you will be able to configure most diamond
examinations exactly to your liking. That way you can determine the cost of the
examination yourself and only pay for what you really need.
Mumbai: Gold demand in India remained
subdued despite a drop in prices as retail demand was squeezed by cash crunch,
while jewellers were delaying purchases expecting a fall in prices next week.
Dealers in the world's No.2 consumer of the
metal were offering a discount of up to USD 5 an ounce this week over official
domestic prices that include a 10 percent import tax, compared with a discount
of up to USD 4 last week. Indian gold prices fell to 27,700 rupees per 10 grams
on Friday, the lowest level since Feb. 8.
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