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Melee polished diamonds being graded and organised
India Extends Import Curbs as Surat Shuts Again
Indian trade bodies have recommended continued limits on rough-diamond imports in July, with a fresh weeklong shutdown of the Surat cutting sector adding to concerns about the market.The Gem & Jewellery Export Promotion Council (GJEPC)...
Polished Markets Jul 01, 2020 Joshua Freedman
Chow Tai Fook Montage
Chow Tai Fook Expanding China Store Count
Pandemic or not, Chow Tai Fook has no intention of slowing its expansion into China, with plans to open approximately 450 stores on the mainland during the current fiscal year, managing director Kent Wong told...
Retail Jun 29, 2020 Avi Krawitz
HK March 2019 show
Hong Kong August Shows Canceled
The Hong Kong Trade Development Council (HKTDC) has called off this year’s jewelry fairs, scheduled for August, after quarantine rules made the events inaccessible to overseas participants.The HKTDC initially postponed the...
Polished Markets Jun 21, 2020 Rapaport News
Rough diamonds in a loupe
De Beers Sight Opens with Viewings in Antwerp
De Beers has been holding sight viewings in Antwerp this week as part of its move to offer goods in locations other than Botswana due to the coronavirus.The company might also enable customers to view rough in Hong Kong...
Rough Markets Jun 17, 2020 Joshua Freedman
Chow Tai Fook
Chow Tai Fook Sees Dim Hong Kong Outlook
Chow Tai Fook expects sales in Hong Kong to remain weak after reporting a sharp slump in revenue and profit due to the coronavirus. Consumer demand was slow in the municipality in April and May as tourists stayed...
Retail Jun 11, 2020 Rapaport News
Chow Tai Fook
WFDB Expands Membership Beyond Core Trade
The World Federation of Diamond Bourses (WFDB) has opened its membership to companies outside the core diamond trade, aiming to make the group more relevant and influential.Organizations connected to the diamond industry, such as retailers,...
Polished Markets Jun 08, 2020 Rapaport News
Hong Kong Victoria Harbour.
Hong Kong Polished Imports Slump
Polished-diamond imports into Hong Kong plummeted 54% to $2.33 billion in the first three months of 2020, reaching their lowest quarterly total since 2009, as the coronavirus hit demand. Polished exports fell 45% to $2.12...
Polished Markets May 27, 2020 Rapaport News
India Bharat Diamond Bourse
Exports Restart at India’s Bharat Diamond Bourse
Mumbai has dispatched its first diamond exports since India’s lockdown started, after the regional government allowed limited activities to resume at the city’s Bharat Diamond Bourse (BDB).The first shipments took place on Tuesday,...
Polished Markets May 14, 2020 Joshua Freedman
Polished Diamonds
Diamond Markets Reflect Uncertain Outlook
RAPAPORT PRESS RELEASE, May 5, 2020, Las Vegas… Diamond trading was restricted in April due to the coronavirus pandemic and global lockdowns. Sentiment was weak, with dealers frustrated by the inability to resume business. The...
Polished Markets May 05, 2020 Rapaport
Melee at De Beers Industry Group Services Surat
Eight Surat Cutting Units Return to Work
India has resumed manufacturing and exports of gems and jewelry, as the country starts to ease its restrictions following five weeks of lockdown.Eight production units in Surat, the country’s diamond-cutting hub, have begun operations at the...
Polished Markets May 04, 2020 Rapaport News
Diamond manufacturing in Antwerp
Belgian Exports Slump as COVID-19 Hits US
Belgium’s polished-diamond exports dropped 51% to $513.7 million in March, reflecting the impact of the coronavirus on global shipments.Exports to the US fell 47% to $152.9 million, according to data from the Antwerp World Diamond Centre, as the pandemic...
Polished Markets Apr 28, 2020 Rapaport News
Melee diamonds at De Beers Group Industry Services
India’s Cutting Sector Faces Decade-Low Revenues
India’s polishing revenues will plummet to their lowest in a decade this year, as prices have dropped and inventory has built up, a credit agency has warned.Diamond sales will decline up to 32%, to $13 billion to $15 billion,...
Polished Markets Apr 28, 2020 Rapaport News
Luk Fook store MixC World in Shenzhen Bay
Luk Fook Hit by COVID-19 Closures
Luk Fook’s same-store sales dropped 57% in the fourth fiscal quarter amid extensive retail closures for the first two months of the year and sluggish footfall in March.The jeweler saw a 60% year-on-year slide...
Retail Apr 22, 2020 Rapaport News
Rolex display window
March Shutdown Hits Swiss Watch Exports
Swiss watch exports slumped in March amid continued market pressures resulting from the coronavirus pandemic.Shipments slid 22% to CHF 1.36 billion ($1.4 billion) for the month, with most markets declining significantly, the...
Watches Apr 21, 2020 Rapaport News
Hong Kong retail coronavirus
Hong Kong Retail Sales Plummet 79% in February
Sales of jewelry and other hard-luxury items in Hong Kong slumped to an all-time low in February due to the coronavirus, according to government data.Revenues from jewelry, watches, clocks and other valuable gifts dropped 79% year on year...
Retail Mar 31, 2020 Rapaport News
HK Mar show 2019
Hong Kong Shows Suspend Preparations
The organizer of the May Hong Kong shows has put its plans for the events on hold, as quarantine rules have made it impossible to host an international fair.Measures enforced by the Hong Kong government on March 19 require...
Polished Markets Mar 23, 2020 Rapaport News
India GST
Indian Exporters Get Reprieve from Banks
Indian banks have agreed to offer special concessions to diamond exporters to help them deal with late payments resulting from the coronavirus outbreak.Companies will have extra months to repay loans they take to fund overseas...
Financial-Legal Mar 19, 2020 Rapaport News
IDE
Israel Bourse Offers Two-Month Fee Discount
The Israel Diamond Exchange (IDE) has temporarily reduced fees for members due to the severe slowdown in trading resulting from the coronavirus outbreak.IDE president Yoram Dvash announced a 50% discount on membership charges and...
Polished Markets Mar 17, 2020 Rapaport News
Rough and polished diamonds at International Diamo
Israel Eases Trading Rules After Exports Plummet
Israel’s diamond regulator has granted temporary concessions to promote shipments to and from countries affected by the coronavirus, after exports slumped in February.Dealers can now spend 90 days inspecting polished goods from certain virus-hit countries...
Polished Markets Mar 12, 2020 Rapaport News
Chow Tai Fook Hong Kong store
Coronavirus Pummels Chow Tai Fook’s Sales
Sales at Chow Tai Fook dropped 60% in Hong Kong and Macau and 42%in mainland China in the first two months of the year as stores shut for muchof the period.“In response to the measures of local...
Retail Mar 11, 2020 Rapaport News
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