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ABN Amro branch Capelle aan den IJssel
ABN Amro Restricts Rough-Sector Lending
ABN Amro has scaled back its financing of rough-diamondpurchases, citing a lack of profitability in the manufacturing and tradingsectors.The Dutch bank, which mainly lends to rough dealers, will only offer credit without proof of onward sale...
Financial-Legal Jul 15, 2019 Joshua Freedman
National Bank of Fujairah Antwerp launch April 201
Dubai’s NBF Enters Antwerp Lending Market
The National Bank of Fujairah (NBF) has launched arepresentative office in Antwerp as it looks to expand its business lending toestablished diamond traders. The Dubai-based bank targets wholesalers with secure sourcesof income and solid product...
Financial-Legal Apr 07, 2019 Joshua Freedman
Stornoway
Weakness in Low-Value Stones Hits Stornoway
Stornoway Diamond Corporation’s sales fell in the finalthree months of last year as weakness in the Indian market dented prices oflower-value rough from its Renard mine in Canada. Fourth-quarter proceeds dropped 35% to CAD 32.1 million($24.2...
Mining Jan 20, 2019 Rapaport News
Union Bank Antwerp
India’s Union Bank Leaves Antwerp
Union Bank of India willclose its branch in Antwerp, citing the weak performance of its diamonddivision, Bloomberg reported.The office will shutwithin a year, the news service last week cited Rajkiran Rai Gundyadka, thebank’s CEO,...
Financial-Legal Sep 06, 2018 Rapaport News
India 150
Indian Banks Slash Lending by 10%
Bank financing to India’s gem and jewelry sector has fallenat least 10% since April 1 due to stricter lending conditions, according to the trade’s export-promotion body.Credit providers tightened their rules after allegations inJanuary that...
Financial-Legal Jul 24, 2018 Rapaport News
ABN Amro 600
ABN Amro Scales Back Diamond Lending
ABN Amro is terminating its diamond and jewelry lendingbusiness in the US and the United Arab Emirates (UAE), the Amsterdam-based banksaid.The lender decided to end its services to the US industrydue to its “very small portfolio,” a spokesperson...
Financial-Legal May 21, 2018 Rapaport News
Israel Pledges Support to Diamond Trade 150
Israel Gives $284M Boost to Diamond Trade
The Israeli government has pledged $284 million (NIS 1 billion) to guarantee bank loans to diamond companies in an effort to easethe trade’s severe credit difficulties. A lack of credit is stifling growth, especially among the smallerfirms that constitute...
Financial-Legal Feb 14, 2018 Rapaport News
Signet 150
Signet Holiday Sales Disappoint
Signet Jewelers’ holiday sales fell 3% as issues relating to outsourcing its credit transactions adversely impacted the business. Signet in October sold its prime credit program to Alliance Data Systems for $960 million, meaning that...
Retail Jan 10, 2018 Rapaport News
Kay Signet 150 120517
Signet Facing Probe over Credit Practices
US authorities are investigating Signet Jewelers over itscredit operations, the retailer revealed in a Securities and ExchangeCommission filing last week.The Consumer Financial Protection Bureau (CFPB) informedSignet on September 6 that it may take legal action against...
Retail Dec 06, 2017 Rapaport News
Kay Jewelers Signet
Signet Cuts Forecast as Hurricanes Hurt Sales
Signet Jewelers’ sales fell in the third fiscal quarter dueto hurricanes in the US and disruptions related to changes in the retailer’scredit services.Group sales slipped 2.5% and same-store sales — at outletsopen for at least a year — dropped 5% in the...
Retail Nov 21, 2017 Rapaport News
Kay
Signet Closes Sale of Prime Credit Program
SignetJewelers has completed the first stage in outsourcing its in-house creditprogram.This includesthe sale of its prime-only receivables tothe card services business of Alliance Data SystemsCorporation for $960 million, Signetsaid. Prime credit relates to customers...
Retail Oct 24, 2017 Rapaport News
kay
Woes Continue for Signet as Sales Slide
Signet Jewelers’ sales dived in the first fiscal quarter amidnegative publicity and a sluggish retail sector.Group sales fell 11% to $1.4 billion in the three monthsthat ended April 29, while same-store sales dropped 11.5%,...
Retail May 25, 2017 Rapaport News
Anthony Capuano, Jewelers Board of Trade
Jewelers Board of Trade Appoints Former HSBC Credit Specialist Capuano as President
The Jewelers Board of Trade (JBT) said it appointed AnthonyCapuano, a 35-year veteran of credit and lending in the gems and precious metalsindustry and former vice-president at HSBC Bank, as its new president.Capuano (pictured) was also a senior...
Financial-Legal Apr 07, 2016 Rapaport News
Rupee
Indian Diamond Industry Urged to Opt for Cash Over Credit
Venus Jewels head Sevantibhai Shah has advised the diamond manufacturers to banish the long-term credit system and adopt cash transaction to bring out the Indian diamond industry from the jaws of the ongoing...
Manufacturing Sep 06, 2015 Times of India
birks mayors
Birks & Mayors Changes Name, Ticker Symbol
Birks & Mayors Inc. changed its corporate name to Birks Group Inc. today and its ticker symbol became ''BGI'' on the New York Stock Exchange (NYSE MKT). The change better represented the...
Financial-Legal Oct 01, 2013 Jeff Miller
Birks & Mayors Arranges New Financing Deal, Reports 1Q Sales +2%
Birks & Mayors Inc. and Varilease Finance, Inc. entered into a lease agreement on July 24 that will cover up to $3 million in costs associated with remodeling three Florida Mayors stores into the "shop in shop" format, a model the company launched last year. The financing should be repaid...
Retail Aug 01, 2013 Sandra Mardenfeld
cash america
Cash America's 2Q Profit -13%
Cash America International Inc. reported today that its total revenue fell slightly to $411 million for the second quarter that ended on June 30. However, net revenue improved 5 percent year on year to $245...
Financial-Legal Jul 25, 2013 Sandra Mardenfeld
Botswana Diamond Technology Park
Standard & Poor's Affirms Botswana's Credit Rating
Standard & Poor's Ratings Services affirmed Botswana's ''A-'' long-term and ''A-2'' short-term sovereign credit ratings and affirmed a ''stable'' outlook, adding that the diamond-producing nation has a reasonably well-managed minerals-based economy and...
Research Jul 16, 2013 Jeff Miller
Zales Store
Zale Signs Private Label Credit Card Program With Alliance Data Systems
The Zale Corporation signed a new, multi-year private-label credit card program agreement with Alliance Data Systems Corporation. Under the terms of the agreement, Alliance Data, through its Comenity Capital Bank (CCB) subsidiary,...
Financial-Legal Jul 10, 2013 Jeff Miller
CRISIL Research
CRISIL Downgrades Winsome's Short-Term Facilities to 'D'
The CRISIL Ratings agency downgraded the short-term bank facilities of Winsome Diamonds & Jewellery Ltd. to ''CRISIL D'' from ''CRISIL A4/Rating Watch with Negative Implications.'' CRISIL listed Winsome's total credit facilities at $715...
Financial-Legal May 03, 2013 Jeff Miller
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