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The Diamond Trade Week in Review 07/03/09
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Avi Krawitz |
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Global Markets The U.S. market slowed again this week due to the July 4th long weekend and jewelers starting their summer vacations. The market is still being driven by bridal goods, and the bread-and-butter engagement stones are selling best. There is short supply...
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Rapaport TradeWire - Friday, July 03, 2009
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Rapaport |
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Rapaport TradeWire - Friday, July 03, 2009News: U.S. market slow as jewelers go on summer vacation. Unemployment hits 26-year high in June at 9.5% and consumer confidence slackens. India’s Gitanjali Gems FY09 sales +5% to $1.1 bil., net profit...
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Market Comments 7/3/2009
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U.S. market slow as jewelers go on summer vacation. Unemployment hits 26-year high in June at 9.5% and consumer confidence slackens. India’s Gitanjali Gems FY09 sales +5% to $1.1 bil., net profit -6% to $31.5 mil. Asian Star FY09 sales -1% to $306 mil., net profit +9% to $9.7 mil. Shrenuj & Co. FY09... 
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U.S. Job Losses Rise in June, Ending 4 Months of Improvement
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McClatchy |
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McClatchy Washington Bureau (DC), WASHINGTON: In a worse-than-expected showing, employers shed 467,000 jobs in June and the unemployment rate ticked up another tenth of a percentage point, to a 26-year high of 9.5 percent, the Labor Department reported Thursday. Mainstream economic...
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Grim Outlook for Mining Employment in South Africa
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AllAfrica.com: |
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AllAfrica.com: South Africa’s mining sector could shed about 100,000 jobs in the next year, as mining output is expected to fall 20 percent in the wake of the global financial crisis, according to a report by Southern Africa Resource Watch (SARW). Rising poverty in South Africa...
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WFDB Convenes First-Ever WFDB Asia Summit Meeting in Hong Kong
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Press Release |
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Press Release, ANTWERP: The World Federation of Diamond Bourses (WFDB) convened its first-ever WFDB Asia Summit Meeting on June 29 in Hong Kong, with the specific aim of strengthening the organization's ties with its member diamond bourses in Bangkok, Hong Kong, Mumbai, Shanghai,...
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New Senior VP for J.C. Penney Fine Jewelry
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Deena Taylor |
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J.C. Penney appointed Pam Mortenson as senior vice president and general merchandise manager of fine jewelry as of July 27, 2009, the retailer reported. "Pam Mortensen is a veteran retailing executive who brings to J.C. Penney a strong track record of success in fine jewelry...
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Asian Star FY09 Sales -1%, Profits +9%
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Avi Krawitz |
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Asian Star, a Mumbai-based diamond and jewelry manufacturer, reported that its sales fell 1 percent to $306 million (INR 14.7 billion) for the fiscal year that ended March 31, 2009. The company’s net profit grew 9 percent to $9.7 million (INR 463.4 million), Asian Star wrote in a...
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Classic Diamonds FY09 Sales -5%, Profits -89%
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Avi Krawitz |
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Classic Diamonds (India) reported that its net sales fell 5 percent to $141.4 million (INR 6.8 billion) in fiscal 2009, as both its diamond and jewelry segments posted significant declines. Net profits for the year that ended March 31, 2009, decreased 89 percent to $745,625 (INR 35.7...
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Jewelry Segment Boosts Gitanjali Gems FY09 Sales
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Avi Krawitz |
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Gitanjali Gems reported that its sales rose 5 percent to $1.1 billion (INR 50.9 billion) for the fiscal year that ended March 31, 2009, driven by strong growth in its jewelry business. The Mumbai-based diamond and jewelry manufacturer and jewelry retailer noted in its report to the...
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Diamond News Broadcast
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Rapaport News |
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In this broadcast, David Sexton of Jewelers Mutual Insurance discusses ways in which you can protect goods during the shipping process and do best to not draw attention to the package. The company has noticed an increase in shipping losses recently from the diamond districts...
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Stuller Introduces New Watchstrap Collection Catalog, Selling System
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Jeff Miller |
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Stuller introduced a new system for selling watchstraps, designed to reduce inventory investment, and announced its new Watchstrap Collection catalog. The new rotating selling system can hold up to 168 straps or metal bands in a single display unit, which includes pull-out...
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Idobands.com Launches Wedding Jewelry Boutique
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Jeff Miller |
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Idobands.com has launched as an online source for high-quality wedding bands. The website features an "impressive" selection of wedding bands, as well as a gift section that allows brides and grooms to choose and purchase matching gifts for their wedding parties. Martin...
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Bidz.com Repurchases Another Round of Shares
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Jeff Miller |
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Bidz.com repurchased approximately 714,000 shares of its stock during the second quarter, which was the allowable limit for repurchases. The online retailer funded the repurchase of the stock, for approximately $2.5 million, from working capital. Bidz.com also reported that it...
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Master Cutter Bianco was Entrusted with Crafting the Best
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Daily Telegraph |
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Daily Telegraph, LONDON: Antonio Bianco, who has died at age 57, was a master diamond cutter who created spectacular precious stones for some of the world's wealthiest collectors. Royalty and Hollywood celebrities were among Bianco's customers. He operated in cloistral...
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Pure Gold Jewellers Announces First Winner of its Diamond Promo
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Jeff Miller |
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Pure Gold Jewellers in Dubai announced the first winner of its scratch-and-win promotion, underway through August 14, 2009, as part of the retailer's 20th anniversary celebration. Praveen Agarwal from Dubai purchased a diamond ring at the retailer's Lamcy Plaza outlet and, as...
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GIA Expert Speaks at Malaysia International Jewellery Fair
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Press Release |
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Press Release, CARLSBAD: Alex Ross, special projects manager and instructor for the Gemological Institute of America (GIA) Thailand, will give two presentations at the upcoming Malaysia International Jewellery Fair (MIJF) in Kuala Lumpur, Malaysia in early July. Ross’s first talk,...
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SimplexDiam Recovers 73% on Fortunoff's Loose Stones
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Press Release |
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Press Release, NEW YORK: SimplexDiam Inc. announced today a 73 percent recovery on Fortunoff's loose diamonds. Said Yogesh Madhvani, chief executive officer (CEO), "We knew we'd attain a tangibly better recovery than the competition, that's why we took the project. One has to...
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Israel's June Polished Exports -22%, Returns Remain High
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Jeff Miller |
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Israel's polished diamond exports in June fell 22 percent to $183.9 million, but for the past two years now, the figures reveal that a high level of goods were returned after the JCK Vegas show. One year ago, Israel's polished exports in June had dropped by 30 percent from...
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Taiwan the Biggest Market for Diamonds 5 Carats and Larger in 2008
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Taiwan Economic News |
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Taiwan Economic News,TAIPEI: Last year, more large diamonds — 5 carats or larger — were sold in Taiwan than anywhere else, with the island ranking among the top-five for overall jewelry sales, according to the De Beers Group, the London-based diamond giant and the world's...
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