Once again Zale has replaced senior management, probably in an effort to reverse declining sales. The Securities and Exchange Commission (SEC) was notified by Zales regarding the departure of the executives. Zales senior vice president, controller and chief accounting officer Cindy Gordan left the company on June 30th, 2009. Jim Sullivan was appointed as the […]
Category Archives: Diamonds
Gitanjali, the Mumbai based jewelry firm has acquired a 70% stake in the mobile retail chain Mobile NXT Teleservices Pvt Ltd a Bangalore based firm. The purchase was made by Gitanjali Lifestyle Ltd a subsidiary of the Gitanjali Group. Gitanjali is a Diamond Trading Company (DTC) sightholder. MobileNXT will be re-branded ‘Hoop’ and additional items […]
Russia’s Gokhran, the state owned Precious Metals and Gemstone Repository bought US$384 million (12 billion Ruble) worth of rough diamond from Alrosa according to interfax. The amount is also said to include $118 million of diamonds that Gokhran agreed to buy annually from Alrosa since from 2008 up to 2010. Due to the global economic […]
The World Federation of Diamond Bourses (WFDB) held its first ever Asia Summit Meeting on June 29 in Hong Kong. The main aim of the meeting was strengthening of ties with its member diamond bourses in Bangkok, Hong Kong, Mumbai, Shanghai, Singapore and Tokyo. Of the six bourses invited to the summit five of them […]
Guangdong is the diamond headquarters in China, just like Surat in India. Surat city in Gujarat India is the main center for polishing diamonds in the world. However this may soon change, probably due to the recession changing the landscape in the diamond industry. Surat the worlds top diamond cutting center is now facing severe […]
There has been a recent increase in the local consumption of diamonds in India. Based on a report by the Economic Times of India, the domestic consumption of diamonds has doubled over the past three months. Diamonds are also bought for investment purposes, a trend which is new to India where gold was usually bought […]
According to a recent report by Rapoport, in the USA there is still demand for commercial grade diamonds, which are used for weddings and engagements. Commercial grade engagement stones are usually rounds 0.75 to 1.5 ct, F-H, VS2-S12. Most of the consumers these days were only interested in engagement and wedding jewelry.The supply of premium […]
Since October last year there has been reports of widespread killing by the military in the eastern Marange diamond fields of Zimbabwe. Murisi Zwizwai the deputy mining minister of Zimbabwe denied the killings in the Marange diamond fields late last year. The denial was made during a meeting of the Kimberely Process in Namibia. He […]
To celebrate the 25th anniversary of the Argyle mines, Rio Tinto’s 2009 Argyle Pink Diamond Tender is offering 43 pink diamonds of exceptional quality. The tender also includes 4 heart shaped pink diamonds. The tender titled grand passions is said to comprise of 43 of the rarest pink diamonds from the Argyle Diamond Mine. Presently […]
On Tuesday according to the Australian Bureau of statistics (ABARE) , Australias diamond production increased by 9% to 18.022 million carats during the current fiscal year which ends on June 30th 2009.However ABARE noted that it expects the diamond production to drop by 30% to 12.6 million carats in the next fiscal year. 92% of […]