NEWS

Singapore Ruby Auction bags US$71.8mn!

Singapore Ruby Auction bags US$71.8mn!

Pallinghurst announces the results of an auction of rough rubies held by its 100% owned subsidiary, Gemfields Ltd in Singapore from 5 – 9 June 2018. Gemfields’ tenth auction of rough rubies from Montepuez saw 51 companies placing bids. The auction offered high, medium and commercial grade rough rubies exclusively in untreated form.

 

The consistency of supply and the reliability of the Gemfields’ grading system continues to be well received by buyers given that it reduces risk, improves manufacturing efficiencies and aids their ability to meet demand for larger orders. The auction generated total revenues of USD 71.8 million at an average realised price of USD 122 per carat.

 


Retail Shrink Decreased in US

Retail Shrink Decreased in US

Thefts, fraud and losses from other retail “shrink” decreased to $46.8 billion in 2017 from $48.9 billion the year before as shoplifting and organized retail crime continued to be the leading causes, according to the annual National Retail Security Survey released today by the National Retail Federation (NRF) and the University of Florida.

 

“Retailers are making progress in combating criminal activity, but there are still many challenges,” NRF Vice President of Loss Prevention Bob Moraca said. “Whether the threat is coming from cyber security, organized retail crime or employee theft, the job for retail security teams continues to become more difficult every day, especially when resources and staff are limited.”

 


 


DMCC Powers Shariah-Compliant to Expand IBA

DMCC Powers Shariah-Compliant to Expand IBA

DMCC, the world’s flagship Free Zone and Dubai Government Authority on commodities trade and enterprise, is entering new markets and has welcomed the Islamic Bank of Afghanistan (IBA) as the newest member of its DMCC Trade flow platform, a dedicated online platform for registering possession and ownership of commodities stored in UAE-based storage facilities.

 

The announcement follows the signing of a Memorandum of Understanding (MoU) by Sanjeev Dutta, ‎Executive Director, Commodities at DMCC and Amer Khalil urRehman, Chief Executive Officer of the Islamic Bank of Afghanistan, at DMCC’s Almas Tower in Dubai.

 


TAGS rough diamond tender in Almas Tower

TAGS rough diamond tender in Almas Tower

Trans Atlantic Gem Sales (TAGS) will be holding a rough diamond tender from the 19th to the 27th June 2018 in the prestigious Almas Tower, Dubai. Two productions from South Africa and Angola will again be presented, with both productions being of high quality and high colour material.

 

This rough diamond tender follows six previously successful tenders which have been very well received by the market and continues to grow in both caratage and popularity. While final details will soon be forthcoming from the producers, TAGS are expecting in the region of 25,000 carats of South African goods and 18,000 carats of Angolan goods across a full range of sizes with a combined value in excess of US$40m.

 


Roopa Vohra introduces Bold Cuff Bracelets!

Roopa Vohra introduces Bold Cuff Bracelets!

Roopa Vohra Fine Jewellery for decades have introduced the latest in the jewellery industry. With rich influence of Indian culture and art, the latest from their collection are the bold and stunning cuff bracelets handcrafted in gold.

 

These statement pieces of bracelets are alone enough to elevate your style quotient. By including these bold trendy cuffs in your wardrobe, you can easily minimize your daily hassle of accessorizing. By adding just one classic piece of a jeweled cuff to your look you can emote effortless panache.

 


CTF Garners Four Recognitions

CTF Garners Four Recognitions

Chow Tai Fook Jewellery Group Limited (CTF) has earned four accolades at The 8th Asian Excellence Award 2018 conducted by Corporate Governance Asia, an authoritative regional journal in recognition of the outstanding performance in corporate governance.

 

The recognitions include: 1: Asiaʼs Best CEO (Investor Relations) – Kent Wong, 2: Asiaʼs Best CFO (Investor Relations) – Hamilton Cheng, 3: Best Investor Relations Company (Hong Kong), 4: Best Investor Relations Professional – Danita On.

 


US Retail Imports to Hit Despite Tariff Debate

US Retail Imports to Hit Despite Tariff Debate

Imports at the nation’s major retail container ports are expected to set record numbers this summer and fall even as the debate over trade and tariffs continues in Washington, according to the monthly Global Port Tracker report released today by the National Retail Federation (NRF) and Hackett Associates.

 

“Consumers are buying more and that means retailers are importing more,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Imports continue to be the primary source of high-quality, mass-produced necessities at affordable prices and will be for the foreseeable future. If tariffs are imposed on consumer goods, that will only drive up prices for American families while doing little or nothing to punish those responsible for unfair trade practices.”

 


Alrosa enters the Top-5 of rating

Alrosa enters the Top-5 of rating

Alrosa, the world’s largest diamond mining company, has entered Top 5 of pilot sustainability rating “Polar Index” among Russian companies operating in Arctic. The rating is developed by Project Office of Arctic Development and the environmental economics department of Faculty of Economics of the Lomonosov Moscow State University.

 

"Polar Index" became the first specialized rating of companies whose geography of activities affects the Arctic zone of Russia. The results of the first rating were presented in the Public Chamber of the Russian Federation on World Environment Day held on June 5.

 


 Sibanye Gold at acquisition process

Sibanye Gold at acquisition process

Sibanye-Stillwater advised that, the Company was awarded the ‘Global Resources and Commodities M&A Deal of the Year’ under the large-cap segment at the 10th Annual M&A Atlas Awards gala function, held at the Intrepid Museum in New York for the US$2.2 billion acquisition of Stillwater Mining Company in the United States (US).

 

Commenting on the award CEO Neal Froneman stated that “this award is gratifying as it again reflects the recognition by industry participants of the significance and transformative nature of the Stillwater acquisition. This transaction has already had a significant impact on the Group.

 


 

More reasons to upgrade to new jewellery

More reasons to upgrade to new jewellery

Tanishq was the first jeweller in the country to spot the evolving needs of the new Indian jewellery buyer – where the ask was to make gold jewellery more contemporary, design-led and more light where she could wear it every day, not just confining to key occasions.

 

Why upgrade?

The unorganised jewellery market in India is 90% and there are possibilities that a customer may end up buying impure jewellery. Since its inception, Tanishq believes that it is important for customers to upgrade their gold jewellery once in every 25 to 30 months, because:

 



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