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Rapaport TradeWire July 28, 2016
RAPAPORT NEWS SERVICE | July 28, 2016...
Research Jul 28, 2016 Rapaport
Rapaport Weekly Market Comment
NY jewelryshows quiet. Better goods stable but market sentiment weak. Dealers cautiousahead of summer vacations in Belgium and Israel. Low expectations for nextweek’s Mumbai show as gold jewelry sales decline after price surge (+28% inRupee for 2016). De Beers 1H revenue +8% to $3.3B, underlying earnings +5%...
Polished Markets Jul 28, 2016 Rapaport News
Industry Stock Ticker Stock Image
Rapaport Diamond Industry Stock Tracker
U.K.-listed miners had a strong week, led by Stellar Diamonds (+35%), which gained from a low base on news of joint ventures in Guinea and Liberia. Anglo American (+6.3%) rose as the miner reported a narrower loss and...
Financial-Legal Jul 28, 2016 Rapaport News
India Arch
Rapaport Weekly Indian Market Report
Polished trading slow. Buyers selective anduncertain about prices. Few foreign buyers in Mumbai as U.S., Israel andBelgium seasonally quiet. Steady demand from major U.S. retail programs. Lowexpectations for IIJS show (August 4 to 8) as gold...
Research Jul 28, 2016 Rapaport News
Karl Smithson
Stellar to Share Ownership of African Projects
StellarDiamonds is reducing its stake in diamond projects in Guinea and Liberia inorder to focus on developing its Tongo mine in Sierra Leone. Thecompany signed a provisional agreement to form a joint venture with Dubai-basedCitigate Commodities Trading whereby Citigate...
Mining Jul 28, 2016 Rapaport News
Oscar Heyman Earrings
Selling Emotion to Luxury Consumers
Now in its 103rd year, New York-based Oscar Heyman has built a reputation for producing beautiful jewelry, touted as heirloom pieces and often spotted on the red carpet. However, producing top-quality jewelry for high-end...
Retail Jul 28, 2016 Avi Krawitz
India Arch
India Eases Rules on Controversial Excise Tax
The Indiangovernment relaxed rules on a 1-percent excise duty on jewelry that led to asix-week strike earlier this year.Under thenew terms, businesses with revenue of up to $2.2 million (INR 150 million) areexempt from the tax, whereas...
Financial-Legal Jul 28, 2016 Rapaport News
Derek Katzenbach, Katzenbach Designs - 14K white g
AGTA Hands Out Summer Spectrum Gem Awards
TheAmerican Gem Trade Association (AGTA) unveiled the winners of the summer 2016 AGTASpectrum Awards held in New York on July 23 and 24.RubenBindra of B & B Fine Gems won the Best of Show award for a suite of round,brilliant...
Polished Markets Jul 28, 2016 Rapaport News
De Beers Sightholder Box
De Beers Earnings Gain from Higher Rough Demand
De Beersrevenue and earnings increased in the first half as the miner benefited fromstronger rough demand, tighter cost controls and favorable exchange rates.Revenueadvanced 8.2 percent to $3.27 billion in the six months that ended June...
Mining Jul 28, 2016 Rapaport News
Pangolin Diamonds
Pangolin Starts Botswana Drilling Project
PangolinDiamonds Corp. commenced drilling for kimberlite at its Motloutse DiamondProject in Botswana’s Orapa region where the country’s first diamonds wererecovered in 1959.The“percussion” drill program is anticipated to be completed within the nexttwo weeks and the results...
Mining Jul 27, 2016 Rapaport News
Uzi Levami, CEO, Sarine
Sarine Pens Deal with Singapore Retailer
SarineTechnologies struck a deal with Soo Kee Group to provide its digital diamonddisplay equipment at the Singapore-based jeweler’s Love & Co. stores. The ‘SarineProfile’ technology will be implemented in Love & Co.’s LVC Lovemarkdiamond collection...
Technology Jul 27, 2016 Rapaport News
Lace mine
Operations Commence at Lace Diamond Mine
Mining resumedat DiamondCorp’s Lace mine in South Africa after operations were stopped whilegovernment investigated an incident that injured a worker.A miner'sassistant suffered contusions and four cracked ribs when explosive misfireswere being made safe....
Mining Jul 27, 2016 Rapaport News
RJC, Miners Advance Work on Responsible Jewelry
TheResponsible Jewellery Council (RJC) and the Alliance for Responsible Mining (ARM) renewed an agreement to strengthen theircollaboration in promoting and facilitating responsible-jewelry supply chains.ARM and RJC said they share objectives to promoteresponsible precious-metals supplychains...
Fair Trade Jul 27, 2016 Rapaport News
Bulgari Chinese NY store
Bulgari Lifts LVMH Jewelry Sales
LVMH Moët Hennessy Louis Vuitton reported stronger jewelry and watchsales driven by the Bulgari brand which “outperformed the market” in the firsthalf of 2016. Revenue from the business unit increased 4 percent on both a reportedand...
Retail Jul 27, 2016 Rapaport News
Kent Wong
Chow Tai Fook Targets Diamond Sales in the U.S.
Chow Tai Fook is looking to supply diamonds to U.S. retailers as the jeweler seeks new revenue streams following a sales slump in China and Hong Kong.The company plans to start thebusiness-to-business enterprise within a year and has...
Retail Jul 26, 2016 Rapaport News
Ronda Daily and Mike Alexander, Jewelers of Americ
Jewelers of America Enlists New Directors
Jewelers of America (JA) elected two directors at its semi-annualboard meeting in New York July 23. Mike Alexander of Jewelers Mutual Insurance Company,Neenah, Wisconsin (pictured, right), and Ronda Daily of Illinois-based Bremer Jewelry (left) will...
Polished Markets Jul 26, 2016 Rapaport News
Diamcor Earnings Fall Deeper Into the Red
Diamcor Mining widened its loss in fiscal 2016 as higheroperating expenses at its flagship mining project in South Africa outweighed a surgein revenue.Total comprehensive loss soared 80 percent to $4.3 million(CAD 5.6 million) in the 12 months that ended...
Mining Jul 26, 2016 Rapaport News
James C. Polan OPIC
U.S. Backs Funding for Botswana Diamond Trade
The U.S. government has agreed to guarantee a $125 million loan to Botswana’sdiamond manufacturing industry to promote local job creation and strengthen thenation’s economic growth.The loan, provided by Barclays Bank of Botswana, will helpkeep activities such...
Financial-Legal Jul 26, 2016 Rapaport News
Israel Diamond Exchange Blue & White Fair
IDE Invites Foreign Visitors to Blue & White Fair
The Israel Diamond Exchange (IDE)is opening up its monthly trading event to foreign buyers to capitalize ondealers’ summer vacations to the country. The bourse is inviting purchasersfrom abroad to attend the Blue & White Fair, a marketplace...
Polished Markets Jul 25, 2016 Rapaport News
Fiera Di Vicenza
Italian Trade Fair Organizers to Combine
Rimini Fiera and Fiera di Vicenza have agreed to merge and named the executives set to lead the combined company.The Italy-based trade-fair organizers approved the documentthat formally marks the beginning of their merger, according...
Polished Markets Jul 25, 2016 Rapaport News
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