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Israel Bourse Slices $3M off Expenses
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The Israel Diamond Exchange (IDE) has reduced membership fees for 200 companies after a cost-cutting program resulted in $2.8 million (ILS 10 million) in annual savings.The bourse has extended its bursary scheme – which entails...
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Financial-Legal
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Mar 29, 2017
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Rapaport News
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NY Firm to Launch Diamond Industry Lending
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The midstream diamond and jewelry industry is set to gainaccess to more than a billion dollars in loans from a New York-based lender that sees a “dire need” for funding in the sector.Excelsior Capital Ventures will start engagingwith...
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Financial-Legal
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Aug 17, 2016
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Rapaport News
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Standard Chartered Exits Diamond Business
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Standard Chartered has terminated lending to the midstream diamond and jewelry industry as it curbed its exposure to businesses that fail to meet its “new risk profile.” “When we announced our new strategy, we saidthat we would look...
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Financial-Legal
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Jun 13, 2016
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Rapaport News
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Blue Nile Terminates South Dakota Business Over Tax Law
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Blue Nile has stopped shipping to South Dakota in response to an“unconstitutional” new state law that requires online retailers to collectsales tax. “South Dakota’s law is a direct contradiction to federal law,” a Blue Nile spokesperson said in a statement...
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Financial-Legal
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May 05, 2016
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Rapaport News
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Jewelers Exiting U.S. Trade Soars in 1Q
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U.S. jewelry business discontinuances surged 35 percent inthe first quarter, according to data released by the Jewelers Board of Trade(JBT).Of the 380 companies that left the industry, the maximumnumber was in the “ceased-operations” category, which...
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Retail
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May 01, 2016
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Rapaport News
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Indian Jewelers’ Strike Ends Ahead of Gold-Buying Festival
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A strike by Indian jewelers to protest a tax has been calledoff permanently, according to the All India Gems & Jewellery TradeFederation (GJF). At least 90 percent of jewelers from around the country returnedto work April 13, but...
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Financial-Legal
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Apr 17, 2016
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Rapaport News
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Indian Jewelers Take Two-Week Pause from Strike
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Indian jewelers suspended their strike against a 1-percent taxto eke out a two-week period in which they can open for business ahead of an upcomingfestival and amid signs the government won’t budge on the new excise...
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Financial-Legal
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Apr 13, 2016
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Rapaport News
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China Hikes Taxes on 'Suitcase' Jewelry Imports
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Chinese authorities have moved to crack down on a "gray" market in luxury imports by raising taxes on jewelry and watches.The government increasedtariffs on watches ordered from abroad to 60 percent from 30 percent and onjewelry to 15 percent from 10 percent effective...
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Financial-Legal
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Apr 10, 2016
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Rapaport News
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Standard Chartered Seeks to Curb $2B Diamond Exposure
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Standard Chartered is demanding its clients in the Indianand Belgian diamond trade get more loan protection in a bid to tighten standardsafter lending about $2 billion to the industry, Bloomberg reported.TheLondon-based bank, one of the biggest lenders to the...
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Financial-Legal
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Mar 24, 2016
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Rapaport News
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India Strike Costing Jewelers $150M per Day
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A jewelers’ strike in India protesting anew 1-percent excise tax is causing industry members to lose $150 million perday, Bloomberg reported March 9, citing the All India Gems & JewelleryTrade Federation.The industrial action, which hasentered...
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Financial-Legal
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Mar 09, 2016
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Rapaport News
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Russia Mulls Privatization of 11% ALROSA Stake: Report
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Russia is consideringprivatizing a 10.9-percent stake in ALROSA, press agency TASS reported February29, citing the nation’s finance minister."We’vediscussed the potential sale of a 10.9-percent stake so that the state,including the constituent entity, could keep control of the...
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Mining
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Mar 02, 2016
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Rapaport News
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Financial-Legal
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Mar 01, 2016
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Rapaport News
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Pandora ‘Acquitted’ in Court Case over Company Announcements
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Pandora said it had been acquitted on all accounts by theEastern High Court in Copenhagen in a case relating to the Denmark-basedjeweler’s downward adjustment of revenue growth expectations in August 2011.The district court in Glostrup, Denmark, found thecompany should have...
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Financial-Legal
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Feb 25, 2016
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Rapaport News
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Financial-Legal
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Jan 27, 2016
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John Costello
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Financial-Legal
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Jan 25, 2016
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Rapaport News
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Tiffany Announces $500M Stock-Buyback Program
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Tiffany & Co.’s board of directors has approved a newstock buyback program under which the jewelry retailer can repurchase up to$500 million of the company’s common stock.Tiffanys’announcement comes after it unveiled a 6-percent drop intotal sales...
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Retail
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Jan 24, 2016
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Rapaport News
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Financial-Legal
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Dec 27, 2015
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Rapaport News
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Mining
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Dec 25, 2015
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Rapaport News
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Botswana Diamonds Raises $813K for Exploration, Working Capital
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Botswana Diamonds raised $813,099 (GBP 545,316) through anissue of 64.2 million shares to finance exploration activities in Botswana andprovide additional working capital.The diamond explorationgroup raised $683,882 through a private placement of 54 million new shares, accordingto...
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Mining
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Dec 21, 2015
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Rapaport News
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Mining
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Nov 22, 2015
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Rapaport News
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