We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Top News
Rio Tinto showcases “Oculus Rift” technology
Las Vegas: Rio Tinto Diamonds is bringing the mine to the marketplace by using innovative Oculus Rift technology to provide an interactive virtual journey into its Diavik Diamond Mine in the remote Northwest Territories of Canada. The Oculus Rift will debut at the Rio Tinto booth at the world’s largest diamond jewellery trade show, the JCK Luxury Show, in Las
WDC & KP Sign an MOU
Antwerp: Edward Asscher, President of the World Diamond Council, and Vice Minister Wei Chuanzhong, Chair of the Kimberley Process, signed a Memorandum of Understanding in Antwerp on Friday, May 23, formalizing the agreement for 2014 between the two organizations, according to which WDC finances and operates the Administrative Support Mechanism (ASM) on behalf of the Kimberley Process. The ASM provides
ALROSA Expects 5-Percent Growth in Rough Prices
Moscow: ALROSA expects that global rough prices will go up by 5% in 2014 over the last year, according to the ITAR-TASS report from St. Petersburg. This was disclosed to journalists on the sidelines of the St. Petersburg International Economic Forum by Fyodor Andreev, President of ALROSA. “We reckoned on a growth rate of 5%. I think it is achievable,”
Zimbabwe Orders Miners to Sell Gems through RBZ
Harare: The cash-strapped ruling ZANU PF government has issued an order to all diamond miners in the country to sell their gems through the Reserve Bank of Zimbabwe (RBZ). The permanent secretary in the Ministry of Mines, Francis Gudyanga, reportedly wrote a letter to the companies explaining that the central bank will use the diamonds to secure a government loan.
Diamonds ‘Not Promoted Enough’
Saurimo: Diamonds are not being promoted well enough, and as a result people are not motivated to buy them, the chairman of Angolan state diamond company Endiama said last week. Speaking in the Angolan city of Saurimo on October 6, Carlos Sumbula told a delegation of British members of parliament that diamond producers needed to unite to streamline promotional campaigns
Botswana Plans 'Bold' Financial Stimulus
Gaborone: The government of Botswana has said that it will use some of its $8.5 billion in foreign exchange reserves to stimulate its economy following a drop in diamond prices. “We have realized our economy is going to stagnate,” said President Ian Khama in a televised speech, as quoted by Reuters. “The time has come for us to make bold
Growing Prominence of Latin America in Jewellery
Milan: CIBJO President Gaetano Cavalieri has drawn attention to the growing prominence of Latin America in the international jewellery business, and in particular to the role that is being played by Mexico, the region’s most valuable luxury product market. He was participating at a gathering of political and business leaders, as well as jewellers from across the Americas, during the
India Boosts Funding to Promote Exports
New Delhi: The Government of India has increased allocations for export incentive schemes across the economy, including the diamond and jewelry sectors, in the current financial year to $3.2 billion (Rs21,000 crore). Commerce Secretary Rita A. Teaotia told a meeting with representatives of 27 export promotion councils on October 7 that the new amount was an increase on the earlier
