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 […]
J.C Penny Inc has appointed Pam Mortensen as their senior vice president and general merchandise manager of fine jewelry. The appointment is effective from July 27th. She is a former vice president and divisional merchandise manager of fine jewellery and watches for Wal-Mart Stores Inc. The appointment was made public by a press release on […]
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 […]
According to research carried out by IDEX Online, there has been a drop in the sharp decline in the demand for jewellery in the US. This is good news for everyone in the industry. The first quarter sales, 2009 were down 14%. Jewellery sales dropped by nearly 20% during the important 2008 holiday sales. According […]
Venezuela’s President Hugo Chavez is seeking for loans to develop the diamond and gold mining sectors. The repayment of the loans will be partially paid with the minerals produced from these mines.However the president did not specify the amount needed. Because of the policy of nationalization of the mining and oil industry of Venezuela, investors […]
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 […]
Cameroon is expected to start mining diamonds next year. Oscar Matip, the Director of Mines and Geology at the Ministry of Industry, Mines and Technological Development told reporters on the 25th that “mining could begin a year from now. The deposits were discovered in the Mobilong area in south-eastern Cameroon. The deposits are close to […]
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 […]
The world’s richest individuals increased their investment in jewelry despite shrinking wealth levels. According to the National Jeweler Network the increase in jewelry investments is probably due to the fact that during a global economic downturn, jewelry has a greater chance of retaining their value. Merrill Lynch Global Wealth Management and Capgemini released its 13th […]