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11 Jan
Andrea Slingsby
Andrea Slingsby has been appointed chief operating officer for Australia and New Zealand by jewellery retailer Michael Hill International. The jewellery retailer is in the midst of a complete internal overhaul aimed at refocussing its business on its sales and internal design capabilities as well as its digital strategies after a disastrous fiscal 2018, which saw profits plunging 86 percent. Slingsby, who has been working with Michael Hill on a contractual basis since August 2018, has previously been managing director, chief executive and a member of the board of a raft of Australian private and public businesses as well as being president and CEO for North America of Flight Centre, officially took up her new role on January 9. Michael Hill Chief...
10 Jan
Tiffany & Co. has announced that it will provide data on the origin of diamonds that are 0.18 carats and larger through this year and expand the program by 2020 to include an audit trail that will give details of where the stones were cut and polished and eventually set in jewellery. All suppliers will henceforth have to comply with Tiffany’s Diamond source Warranty Protocol, which restricts diamond-sourcing to countries that do not have human rights concerns. The US Department of Labour lists Sierra Leone and several other African nations as using either child or forced labour to extract diamonds. Zimbabwe is linked to torture and forced relocations. Diamonds from nations like Canada, Botswana, Namibia or South Africa, that practice responsible sourcing, will get a “Botswana Sort”...
10 Jan
The Israel Diamond Exchange (IDE) will hold the first ever tender of Israeli polished goods offered by the exchange itself, during the International Diamond Week in Israel (IDWI). The tender will take place from January 27 to 31 and will be held at the IDE’s International Tender Center. The tender will consist of a wide and varied array of polished goods offered by IDE members, with a total value of over $10 million. KOIN International will manage the tender. The IDE said in a press release that since opening the International Tender Center in February 2017, it has become a hub for rough and polished tenders held by major international companies, with dozens of tenders held each year. However, this will be the first time that IDE itself will be holding a tender. According to the IDE, a...
09 Jan
Lucara Diamond Corp. reported that it had made its first rough diamond sale through Clara Diamond Solutions, its fully-owned digital sales platform. The system was successfully launched on November 30 last and final matching was completed on December 16, 2018. A total of seven manufacturers participated in the sale, five of whom matched and received their orders. The Clara system aims at creating a digital rough diamond spot market. All told, diamonds successfully matched to orders generated revenue of $660,865, achieving 8 percent over Lucara's market price and 15 percent over Lucara's reserve price for these goods.  Lucara said goods of approximately similar value have been set aside for the next sale, scheduled to take place later this month. Lucara said that diamonds will be added...
08 Jan
IDE President Yoram Dvash
Israel’s net polished exports stabilised in 2018, totalling $4.48 billion, according to figures published by the Diamond, Gemstones and Jewelry Administration of the Israeli Ministry of the Economy. Net polished diamond imports totalled $3.04 billion, while net rough diamond exports stood at $2.25 billion, and net rough imports totalled $2.66 billion. The stabilisation has taken place for the first time since 2011. While polished exports fell by 2.5 percent, imports of polished diamonds rose 4.1 percent, and rough exports went up by 1.1 percent. Israel Diamond Exchange (IDE) President Yoram Dvash noted that diamond exports in 2018 actually saw a slight increase, although due to changes in the method of measurement the actual increase was...
07 Jan
India’s exports of gems and jewellery in the April-November 2018 period (the first eight months of the fiscal year) stood at $20.73 billion while total sector imports for the period were $17.71 billion. This is a 6.77 percent fall over the $22.24 billion in exports recorded during the same period in 2017 against total sector imports of $20.22 billion. Net exports during the 2018 period, however, stood at $3.02 billion, up from the $2.02 billion recorded in 2017. The import and export data published by the Gem & Jewellery Export Promotion Council (GJEPC) also showed returned consignments of cut and polished diamonds worth $5.65 billion during the period as against the $4.95 billion in consignment returns during the same period in 2017 — a jump of 14 percent. While overall exports...
04 Jan
Kristina Buckley Kayel
The Diamond Producers Association (DPA) has appointed Kristina Buckley Kayel as Managing Director of its North American division. She will assume her new role on February 4 and will be responsible for developing and implementing the DPA’s consumer marketing and communications strategy, with a focus upon the ‘Real is Rare. Real is a Diamond’ platform, as well as represent the DPA in local trades and organisations within North America, according to a DPA press release. Buckley Kayel will report directly to DPA Chief Executive Jean-Marc Lieberherr. The DPA said that Buckley Kayel’s unique background and extensive experience in strategic marketing, communications and digital leadership roles well positions her to spearhead the its mission to...
04 Jan
Anantha Padmanabhan
The All India Gem & Jewellery Domestic Council (GJC), the national apex body of the domestic gem and jewellery industry elected Anantha Padmanaban of NAC Jewellers Ltd. as its next Chairman for a two-year term.  Shaankar Sen of the Senco Group was elected Vice Chairman. The two were elected through a countrywide independently verified online voting process, which also elected new members to the GJC’s Committee of Administration — the body’s governing board. Padmanaban has been closely associated with the GJC ever since its inception and has, over the years, come up with and executed innovative programmes for the benefit of the Industry. He was instrumental in addressing many issues that impacted the industry like excise duty, the Goods and...
03 Jan
The Indian government has accepted the recommendations of the Gem & Jewellery Export Promotion Council (GJEPC) and exempted jewellery exporters from paying the Integrated Goods and Services Tax (IGST) on gold imports through government-designated importers known as Nominated Agencies. Until now, a 3 percent IGST was applicable to jewellery exporters who sourced their gold from the Nominated Agencies — mainly state-owned banks and other state-owned bodies such as the Minerals & Metals Trading Corporation (MMTC). While the banks themselves had been exempted from paying GST on the imports of gold, it was still levied from importers, who did so through bank guarantees that tied up a significant portion of their working capital. GJEPC Chairman Pramod Agarwal observed, “We commend this...
02 Jan
The All India Gem and Jewellery Domestic Council (GJC) has announced that its first Preferred Manufacturers of India (PMI) event of 2019 will be held in Coimbatore, the southern Indian manufacturing and export hub, from January 8 to 10. Participating jewellery manufacturers will be showcasing their product to 150 Indian jewellery retailers. GJC Chairman Nitin Khandelwal commented that Coimbatore was the ideal location to kick of the PMI initiative as the city is home to over 50,000 goldsmiths and more than 25,000 small and medium enterprises, making it a showcase for the ‘Make in India’ initiative. GJC Vice Chairman Anantha Padmanaban commented, “Our aim is to help participants from all parts of the country by fulfilling their business objectives,” adding, “Coimbatore offers the best of...
31 Dec
An order from the Indian government making the hallmarking of gold and silver jewellery mandatory is imminent, reports the Business Standard. The government had notified regulations for the mandatory hallmarking of gold and silver jewellery last June and Food and Consumers Affairs Minister Ram Vilas Paswan had said in November that an order mandating hallmarking was “coming soon”. The hallmarking will be administered by the Bureau of Indian Standards (BIS), which comes under the Food and Consumers Affairs Ministry. The BIS has been ready with standards for 14-, 18- and 22-karat gold, but the ministry has held back until now while it sought legal clarifications regarding the proposed order. Many Indian jewellery retailers sell both hallmarked and non-hallmarked jewellery, with some...
28 Dec
Hamdi Ali
A 17-year-old high school student from Edmonton, Canada, has discovered a new way to extract rough diamonds from the mother rock without using the current technique of mechanical crushing, which carries the high risk of the diamonds within the rock being damaged or broken into small pieces, reports CTV News, Edmonton. Hamdi Ali, the teenaged student, made the discovery while running an experiment as part of the University of Alberta’s Women in Scholarship, Engineering, Science, & Technology (WISEST) program that focuses on creating effective programs to empower women (and other under-represented groups) to pursue, impact, and succeed in the fields of science, engineering, and technology. Ali and her graduate student mentor Margo Regier began by x-...
22 Dec
GJEPC Chairman Pramod Agarwal and DDE ChairmanAhmed Bin Sulayem at the signing ceremony
The Dubai Diamond Exchange (DDE), a subsidiary of the Dubai Multi Commodities Centre (DMCC), signed a service agreement to join the MyKYCBank platform of the Gem & Jewellery Export Promotion Council (GJEPC). DMCC Executive Chairman and DDE Chairman Ahmed Bin Sulayem GJEPC Chairman Pramod Kumar Agrawal did the honours. The DMCC is the fourth trade body to join the MyKYCBank after the GJEPC, Bharat Diamond Bourse (BDB) and the Antwerp World Diamond Council (AWDC). The agreement enables DMCC members trading in diamonds, gold and precious stones to join the MyKYCBank platform. The MyKYCBank platform provides a centralised global platform for companies in the gem and jewellery...
20 Dec
The All India Gem and Jewellery Domestic Council (GJC), has started its nomination process for the National Jewellery Awards (NJA) 2018. The awards recognise outstanding contributions in the Indian domestic gem and jewellery industry in the areas of design, manufacturing quality as well as marketing and business development excellence in the country’s jewellery manufacturers, wholesalers and retailers. The final presentation of the awards will take place in Mumbai on February 11, 2019. Features of this year’s NJA include: Over 36 awards in 5 categories. The introduction of Corporate Social Responsibility and Women’s Entrepreneurship awards for the first time. Scholarships worth ₹10 lakh ($14,265) for students. Consultants Ernst & Young are to be the process advisors for the awards...
19 Dec
Auction house Bonhams Fine Jewellery said a 5.03-carat square-cut fancy pink diamond of VS1 clarity, which sold in London on September 26 for $2,935,263, fetched the most on its top-ten list of fine gem and jewellery lots sold in 2018. The stone set a new per carat auction world record for a fancy pink diamond, at $583,551 per carat. Bonhams Global Director of Jewellery Jean Ghika commented, “The market has remained strong for exceptional pieces of jewellery from famed eras and world class makers. We’ve also seen excellent prices achieved for emeralds this year and anticipate that they will continue to follow an upward trajectory.”  She added, “Fancy coloured diamonds with intense colour saturations and of a good size also performed extremely well in all our fine jewellery sales in New...
19 Dec
Hong Kong-based Chow Tai Fook Jewellery Group, which has a large retail footprint in Hong Kong, Macau and mainland China, has joined De Beers’ Tracr blockchain traceability platform’s pilot program. Chow Tai Fook joins a range of other leading businesses from across the diamond value chain in piloting the Tracr asset-tracking platform powered by blockchain and artificial intelligence. De Beers said in a press release that Chow Tai Fook’s participation will further extend the platform’s reach into the Asian diamond sector, in particular in Greater China. This will help accelerate Tracr’s ability to fulfil its mission of working with the industry to build a digital ledger that spans the entire diamond pipeline, helping to ensure the platform made by the diamond industry meets the needs of...
19 Dec
The DMCC's Almas Tower in Dubai
HRD Antwerp has entered a partnership with Dubai-based jewellery retailer Stargems to certify their entire jewellery inventory through the establishment of a diamond jewellery grading lab, according to a press release from the Dubai Multi Commodities Centre (DMCC). As a result of the collaboration, HRD Antwerp will open its first diamond jewellery grading lab in the Middle East, located inside  the Turkish Trade Center (TTC) in Almas Tower in the DMCC Free Zone.  Stargems Group Chairman Shailesh Javeri commented, “Within the diamond industry, trust is key. As a retailer, we want our customers to have confidence in our products. By certifying our entire inventory with the highly reputable HRD Antwerp brand, our customers can be...
18 Dec
ALROSA reported that its global luxury and jewelry market research for the third quarter of 2018 revealed that despite the external economic pressure associated with the depreciation of various national currencies against the US dollar, the demand for diamond jewellery remains stable in markets worldwide. Overall, the diamond jewellery market grew by four percent in the quarter in a year-on-year comparison. Sales in North America, the largest diamond jewellery market, also showed a four percent sales increase compared to the same period last year. According to key retailers, stable growth was driven by increased domestic demand.  In the Asia Pacific region (ALROSA’s classification includes Southeast Asia and India), a slowdown in sales growth to 3 percent was tied to the overall external...

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