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De Beers has partnered with the jewellery firm Central Mega Kencana (CMK) to launch its Forevermark diamond jewellery brand in Indonesia. CMK will sell Forevermark in its leading retail brands, Frank & Co., The Palace and Miss Mondial. The brand will initially be sold in 12 stores in the CMK network in the Jakarta region, with plans to expand further in the near future. The official launch event took place on April 11 at Plaza Senayan in Jakarta, and was marked with a showcasing of Forevermark red carpet jewellery, as well as an exhibition highlighting the brand’s key message — diamonds that are beautiful, rare and responsibly sourced. The Indonesia launch means Forevermark will now be available in 26 markets globally. Brand CEO Stephen Lussier said, “We are delighted to be launching...
The recent discovery of a 12.92-carat Kashmir sapphire in a client’s bank vault could prove to be an exciting windfall for one lucky family who had no idea of the gemstone’s value. Estimated to fetch between $120,000 and $510,000, the unheated Kashmir sapphire and diamond ring leads Bonhams upcoming Rare Jewels and Jadeite sale in Hong Kong on May 27. Bonhams Asia Director of Jewellery, Graeme Thompson, assessed the sapphire and believed it to be of Kashmir origin. The gemstone was then sent by Bonhams to Switzerland for scientific testing where it was confirmed as an extremely rare Kashmir sapphire, which had previously been assessed by other auction houses at $3,800-$6,300. “Kashmir sapphires are the rarest of gemstones and collectors are prepared to pay princely sums for top-quality...
ALROSA has announced that its rough diamond sales arm, the United Selling Organisation (USO), will hold an auction of what it terms ‘special size’ rough diamonds — over 10.8 carats — in Vladivostok from April 16 to 27. The miner said 110 rough diamonds weighing a total of 1,946 carats would be auctioned. The largest single stone weighs 46.64 carats. The rough comes from ALROSA’s own mines, including those of its subsidiaries Almazy Anabara, Alrosa-Nyurba and Severalmaz. According to ALROSA, firms from Hong Kong, Russia, Israel, India, Belgium and UAE are slated to participate in the auction. The results will be summed up on April 27. "Vladivostok is one of the most important trading sites for ALROSA, which focuses on cooperation with the Asia Pacific region as well. We invited about 80...
ALROSA announced that it had sold $550.3 million in rough diamonds in March. Rough sales for the first three months of 2018 now stand at $1.58 billion. The miner said it also sold $9.1 million in polished in March and a total of $23.7 million from January to March. ALROSA Deputy CEO Yury Okoemov observed that global markets saw higher demand for medium and large-size rough diamonds during the January-March period this year when compared to the same period last year. He added that while there was a slight seasonal cooling off in demand during March, auctions of special-size (over 1.08 carats) goods ensured sales were higher than February. Okoemov also noted that ALROSA’s rough diamond stocks had dropped to their minimum technically feasible levels at the end of the first quarter.
More than 300 participants attended the 7th edition of the annual Dubai Precious Metals Conference (DPMC), organised by the Dubai Multi Commodities Centre (DMCC) on Monday, listening to speakers and panellists discuss issues and opportunities critical to the future of the worldwide precious metals trade. Following the opening speech by DMCC CEO Gautam Sashittal, the conference keynote speaker Lord Dr Hastings of Scarisbrick CBE, Global Head of Citizenship at KPMG, observed, "If you want to build a sustainable future, then having values and operating ethically and transparently is critical. You can sign declarations on sustainability but actually creating sustainable development is another step.” He added, “It is about building a decent and dignified future for the people you serve. The...
Hong Kong sales of jewellery, watches, clocks and valuable gifts, jumped 33.7 percent in February — the strongest growth since June 2013 — headlining a 29.8 percent overall retail sales growth to HK$45.2 billion ($5.76 billion), reports Reuters. Retail sales growth this year is projected at being between 4 and 6 percent, driven by nearly full employment (the jobless rate is at its lowest in around two decades) and tourism. February tourist arrivals rose 26.3 percent to 5.28 million. Mainland China visitors, who accounted for 83.3 percent of the total, rose 40.2 percent. “Looking ahead, the outlook for retail sales should remain positive in the near term, underpinned by upbeat local consumer sentiment amid a full employment situation and by continued improvement in inbound tourism,” the...
India’s Central Bureau of Investigation (CBI) has been questioning senior officers of the Bank of India, Axis Bank and Allahabad Bank, the Indian banks that disbursed funding to companies controlled by Nirav Modi and Mehul Choksi on the basis of Letters of Undertaking (LoUs) issued by the Punjab National Bank (PNB). Modi and Choksi’s firms have allegedly defrauded the PNB of a collective ₹12,622 crore ($1.95 billion) by obtaining the LoUs fraudulently. There are reports warning that the final figure may rise to as much as $3.2 billion. News agencies have reported that some five officers of the ranks of general manager and above have been quizzed by the CBI on how these LoUs were executed by their respective banks. These India-based officers were responsible for the Bank of India’s Antwerp...
De Beers Group today announced that its Forevermark diamond brand will enter the German market for the first time after signing with an exclusive licensee partner, and is in advanced-stage discussions with potential partners in France and Italy. The expansion into new European markets comes on the back of successful global performance throughout 2017 and in 2018 to date. In Germany, Forevermark is partnering with Heinz Mayer, an Idar-Oberstein-based diamond jewellery specialist. Heinz Mayer will launch the Forevermark collection to the German jewellery retail trade at the Baselworld trade fair, presenting the opportunity for luxury retailers to bring the brand to a German consumer audience later in 2018. Forevermark is also in advanced discussions in France with Groupe Marcel Robbez...