RAPAPORT… Human Rights Watch (HRW) urged the European Union to maintain travel restrictions and asset freezes on President Robert Mugabe and his inner circle until Zimbabwe carries out human rights reform measures. The European Union is conducting its annual review of sanctions on Zimbabwe and is scheduled to announce a decision on March 17.
HRW criticized Mugabe’s political party, ZANU-P…
Press Release: The Gemological Institute of America (GIA) announced today the addition of a new diamond grading report option to its existing slate of services. The new service, the GIA Diamond eReport delivers GIA grading results completely online. The GIA Diamond eReport is available for natural, D-to-Z color diamonds from 0.15 to 2.99 carats and delivers grading results completely online v…
(RAPAPORT) Interfax: The Russian State Precious Metals and Gemstones Repository (Gokhran) will hold an auction of 556 large diamonds, weighing 10.8 carats or more, or a total of 12,600 carats on March 20, a source at the Finance Ministry, which is responsible for the Gokhran, told Interfax.
Russian diamond cutters Kristall and Ruis Diamonds have already registered to bid on the goods….
(RAPAPORT) Bangladesh Sangbad Sangstha/AFP: Zimbabwe’s Prime Minister, Morgan Tsvangirai, called for openness in the country’s diamond trade.
“We must show transparency in the way we exploit this resource, the way we market it and the way we benefit for all of our very wide-range challenges we face as a country,” Tsvangirai told journalists as he wrapped up a tour of mines in the Marange di…
RAPAPORT… Tiffany & Co. is devoting the window displays at its flagship stores to Hollywood glamour from the 1930s through the 1970s in honor of the upcoming Academy Awards. Stylist, designer and fashion icon Rachel Zoe collaborated with Tiffany to create these window displays this week, all which highlight each decade and feature Tiffany jewels that capture the spirit of the time.
Zo…
RAPAPORT… Botswana Diamonds announced that it raised $2.38 million (£1.51 million) through a placement of 37,750,000 shares in London at 4 pence each. The majority of the net proceeds will be used for the company’s exploration projects in Botswana, Cameroon and Zimbabwe.Following the issue of the new shares there is a total of 138,282,267 ordinary shares of 1 pence each in issue…
RAPAPORT… U.S. consumer price inflation (CPI) in January for the jewelry sector surged 8.2 percent year on year to 185 points, according to government figures released today. The reading established a new CPI record for jewelry and it was the thirteenth consecutive monthly calculation with a reading above 170 points.
Monthly jewelry price inflation averaged a 9.5 percent increase d…
RAPAPORT… Goenka Diamond & Jewels Ltd. reported that group net sales fell 23 percent year on year to $24.8 million (INR 1.23 billion) during its third fiscal-quarter that ended on December 31, 2011 due to weak diamond and jewelry revenue. Net profit dropped 82 percent to $670,948 (INR 33.1 million) during the quarter.The company, which is in the business of cutting and polishing of diamonds …
RAPAPORT… SRS Ltd. reported that net sales rose 7 percent year on year to $127.7 million (INR 6.31 billion) during its third fiscal-quarter that ended on December 31, 2011. Growth was driven by its jewelry and cinema business.Net profits jumped 42 percent to $4.8 million (INR 235.1 million) for the company, which has business interests in jewelry manufacturing and retail along with other sectors…
RAPAPORT… The recent protests against the labor conditions at tech giant Apple’s manufacturing facilities in China should serve as a wake-up call for the diamond industry. At the end of the day, ill-advised corporate social responsibility and ethics policies are noticed by consumers. Whether or not the protests will impact Apple’s sales remains to be seen. But even the most apathetic consum…
