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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
Diamond in tweezers
Mumbai Trade Resumes with 10% of Workers
Indian authorities have allowed Mumbai’s diamond and jewelry companies to reopen partially on condition that they limit their workforces and follow social-distancing rules.Trade members may operate with up to 10% of their staff members in order...
Polished Markets May 12, 2020 Rapaport News
Israel bourse district
Israel Bourse Resumes Certain Services
The Israel Diamond Exchange (IDE) has become the latest bourse to revive operations, as trading centers around the world slowly return to action following lockdowns.Facilities including banks, the post office, customs, the diamond...
Polished Markets May 06, 2020 Rapaport News
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
Rough diamond
India Trade Urged to Freeze Rough Imports
India’s leading diamond-trade organizations have called on members to stop importing rough for at least a month to prevent an oversupply and ensure banks maintain their credit to the sector.Companies should consider pausing rough imports from May...
Rough Markets Apr 23, 2020 Rapaport News
IIJS Signature 2020
India Eases Trade’s Financial Burden
India’s government has approved concessions to ease the financial situation for diamond and jewelry businesses after the country went into lockdown to curb the spread of the coronavirus.The finance ministry raised the minimum...
Financial-Legal Mar 25, 2020 Rapaport News
Surat
Surat Diamond Manufacturing Shuts Down
The entire polishing industry in Surat has shut until March 31 after Indian authorities introduced tight restrictions to slow the spread of the coronavirus.Activities stopped on Tuesday in line with a lockdown enforced by the Gujarat state government....
Polished Markets Mar 24, 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
China customs officials
China’s Diamond Trade Weighs Virus Effect
Chinese retail is almost dead, the country’s bourses are quiet, and even importing rough goods has been fraught with obstacles. Diamond dealers expect a release of pent-up demand when the coronavirus goes away,...
Polished Markets Feb 25, 2020 Joshua Freedman
Hong Kong during coronavirus Jan 2020
Hong Kong Shows Postponed Due to Coronavirus
Organizers of two upcoming jewelry trade shows in Hong Kong have postponed the events as the coronavirus continues to spread beyond mainland China.The Hong Kong International Diamond, Gem & Pearl Show, which was due...
Polished Markets Feb 04, 2020 Joshua Freedman
Rough diamonds
Rough Slowdown Weighs on Asian Star
Sales and profit slumped at Indian diamond manufacturerAsian Star in the second fiscal quarter as weak rough demand prompted it to reduceits trading activities. The Mumbai-based company supplements its core cuttingbusiness by reselling rough through its...
Manufacturing Nov 18, 2019 Joshua Freedman
Sands Expo
Video: Vegas Show Sees Light Traffic
The JCK Las Vegas show ended Monday, with participants notinga decline in buyer traffic and exhibitors at this year’s event. Sentiment amongdiamond suppliers was relatively weak, as buyers were conservative, and overalldealer trading...
Polished Markets Jun 04, 2019 Avi Krawitz
Asian Star Floating Lights 150
Asian Star Full-Year Profit Rises
Profit at Asian Star, a Mumbai-based diamond manufacturer, grew 6% to INR 1.16 billion ($16.7 million) in thepast fiscal year, as lowerexpenses compensated for a decline in sales.Revenue, including at subsidiaries, dropped7% to INR 39.13 billion ($524.6 million) for the...
Manufacturing May 27, 2019 Rapaport News
Bharat Diamond Bourse
India Cracks Down on Bankrupt Diamantaires
Indian industry bodies are stepping up measures to prevent owners of bankrupt diamondcompanies from starting a new business before clearing their debts. The country’s TradeDisciplinary Committee (TDC) could ban such new firms fromcarrying out...
Financial-Legal Jan 14, 2019 Rapaport News
Bharat Diamond Bourse
Mumbai Exchange Mulls Lifting Synthetics Ban
Mumbai’s Bharat Diamond Bourse (BDB) is considering allowingsynthetic-diamond trading on the exchange premises, its president told RapaportNews. Some members have asked management to reconsider its 2015ban on selling lab-grown diamonds anywhere in the BDB’s vast...
Polished Markets Nov 15, 2018 Joshua Freedman
Lin Qiang
WFDB Names Shanghai Bourse Chief as VP
Lin Qiang has succeeded Yoram Dvash as vice president ofthe World Federation of Diamond Bourses (WFDB), with the latter taking on a newrole as head of a strategic body.Qiang has served as president of the Shanghai Diamond Exchangesince its...
Polished Markets Nov 01, 2018 Rapaport News
Shrenuj
ICICI Bank Sues Shrenuj Executives
The New York branch of India’s ICICI Bank has sued 11executives of diamond manufacturer Shrenuj & Co. and its associatedcompanies, alleging they engaged in fraudulent transactions. The defendants induced ICICI to extend loans to Mumbai-basedShrenuj’s...
Financial-Legal Oct 22, 2018 Rapaport News
IIJS 600
Weak Rupee Raises Hopes for Indian Exports
A weaker rupee againstthe US dollar has helped boost exports to leading markets such as the US andChina, attendees at the India International Jewellery Show (IIJS) reported. “The jewelry anddiamond and colored-gemstone business is flourishing,” Gaetano Cavalieri,president...
Mining Aug 13, 2018 David Brough
IIG 150
Mumbai Gem Center Rebrands as IIG
India-based Shreeji Rajendra Diamond Classes(SRDC) has changed its name to the InternationalInstitute of Gemology (IIG), reflecting the global focus of its educationalcourses, it said last week. The gemological center also inaugurated itsnew Panchratna Building...
Polished Markets Jul 24, 2018 Rapaport News
Synova 150
Synova Opens Cutting Center in Mumbai
Technology group Synova has opened a new diamond-sawingcenter in Mumbai, the company said recently. The hub — the Swiss manufacturer’s second in India —will provide laser-sawing services, stone analyses and machine demonstrations,which will speed...
Rough Markets Jun 05, 2018 Rapaport News
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