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AWDC 150
New Banking Law Set to Support Antwerp Trade
Belgium’s federal parliament has approved a new law entitling diamond companies to open bank accounts even after suffering repeated rejections.The Basic Banking Law guarantees fundamental banking services to all Belgian companies, the Antwerp...
Polished Markets Oct 27, 2020 Joshua Freedman
Students learning to sort rough diamonds in De Bee
De Beers Delays New Sightholder Contract
De Beers has extended its current sightholder contract by three months after the Covid-19 pandemic disrupted the renewal process.The supply agreement, originally due to expire on December 31, will remain in place until March 31,...
Rough Markets Oct 26, 2020 Joshua Freedman
De Beers Industry Services grading Surat
India Rushes to Meet US Holiday Demand
Indian diamond manufacturers are planning a curtailed Diwali break as they scramble to fulfill US holiday orders amid a shortage of polished.Factories will shut for five to 12 days instead of the usual two to three weeks, aiming to offset months...
Manufacturing Oct 22, 2020 Joshua Freedman
Podcast Oct 2020
Podcast: Cash, Credit and Covid-19
The coronavirus crisis has split US jewelers into haves and have-nots, Jewelers Board of Trade (JBT) president Erich Jacobs told the Rapaport Diamond Podcast.Digital-savvy businesses have thrived while less advanced competitors — or those...
Financial-Legal Oct 20, 2020 Joshua Freedman
Rough Diamond Sorting
De Beers Reduces Prices of Smaller Rough
De Beers lowered prices of rough diamonds below 1 carat as the positive sales momentum that began last month continued during this week’s sight, sightholders told Rapaport News.The reductions for the September sight are...
Rough Markets Sep 23, 2020 Joshua Freedman
Oded Mansori
HB Antwerp Aims to Shake Up Large-Stone Market
It’s not often a newcomer sweeps in to buy the largest diamond available on the market. Such deals are usually reserved for high-end jewelers such as Graff, Moussaieff, Harry Winston, or even large-scale retailers like Chow...
Manufacturing Sep 17, 2020 Joshua Freedman
GIA podcast Aug 2020
GIA on Covid-19, Automation and Synthetics
The Gemological Institute of America is pressing ahead with projects that may transform diamond grading, CEO Susan Jacques said in an exclusive interview on the Rapaport Diamond Podcast.Despite the pandemic, the institute announced a collaboration with...
Polished Markets Sep 10, 2020 Joshua Freedman
Antwerp
Belgium Exports Rise as Demand Returns
Belgium’s polished-diamond exports grew for the first time in 16 months in August, as demand rose after a long period of inactivity.“There’s definitely demand and shortages in certain categories. People are buying again,” Karen Rentmeesters, senior communications...
Polished Markets Sep 09, 2020 Joshua Freedman
Alrosa rough
Alrosa Aiming to Extract Higher-Value Rough
Alrosa is expanding its use of X-ray technology in an effort to recover rarer and larger rough diamonds before the sorting system crumbles them into pieces.The Russian company is trialing upgraded equipment at its Udachny mine in Yakutia...
Mining Sep 07, 2020 Joshua Freedman
De Beers rough and polished
Rough-Market Momentum Set to Continue
The resurgence in rough-diamond trading will persist for another two months as manufacturers fill supply shortages and retail demand rises, dealers predicted.“There’s still a gap, because demand is there, and supply is very limited and...
Rough Markets Sep 03, 2020 Joshua Freedman
Petra Diamonds Petra 424.89 carat and 209 carat
Petra Diamonds Adds 2% Levy for Indian Clients
Petra Diamonds will charge Indian customers an additional 2% to cover a new e-commerce tax that might apply to the miner’s rough sales.India introduced the equalization levy on April 1, taxing all overseas e-commerce operators’ sales of goods...
Rough Markets Aug 26, 2020 Joshua Freedman
JCK Las Vegas 2019
How JCK Virtual Compared with the Real Deal
The first JCK Virtual show, which ran from August 11 to 14, was a chance to test a new exhibition model that, if successful, could help companies do business during the coronavirus era. The event was free...
Polished Markets Aug 24, 2020 Joshua Freedman
De Beers rough
De Beers Cuts Prices at August Sight
De Beers has reduced prices of rough larger than 1 carat ahead of next week’s sight amid a gradual improvement in demand and shortages in certain categories, sources said. The reductions are around 6% to 8%, according to sightholders and...
Rough Markets Aug 20, 2020 Joshua Freedman
ABN Amro branch in Terneuzen, The Netherlands
ABN Amro to Cease Hong Kong Diamond Lending
Dutch bank ABN Amro will close its Hong Kong diamond business in a major trimming of its global operations.The company is shutting the branch from which it lends to the local polished market, as part of a retreat from...
Financial-Legal Aug 13, 2020 Joshua Freedman
Rough
What De Beers and Alrosa Clients Really Want
Ask a De Beers or Alrosa contract client about the biggest problems with the miners’ age-old systems for selling rough, and the answer will probably include a comment on prices. High rough prices relative to polished...
Rough Markets Aug 13, 2020 Joshua Freedman
News analysis Aug 2020
To Speak Out, or Not to Speak Out?
The killing of George Floyd at the hands of police in May and the subsequent protests split US society in a way that few other events have. While companies in all sectors have increasingly engaged in corporate activism in recent...
Retail Aug 11, 2020 Joshua Freedman
Alrosa rough sorting at Mirny.
Alrosa Nearing Inventory Deal with Govt.
Alrosa expects to finalize a sale of rough to Gokhran in the next two months, aiming to reduce its stockpiles while ensuring the diamond industry doesn’t receive a flood of goods.Gokhran — Russia’s state gem and precious-metal depository — would...
Rough Markets Aug 06, 2020 Joshua Freedman
Antwerp Diamond Bourse trading floor.
Antwerp Trading Halls Shut for Second Time
The Federation of Belgian Diamond Bourses has closed all four of Antwerp’s trading floors following a spike in coronavirus cases in the city.The national government tightened social-distancing rules on Monday to prevent a repeat of the full lockdown it instituted...
Polished Markets Jul 28, 2020 Joshua Freedman
De Beers rough and polished diamonds.
De Beers to Hold Viewings in Antwerp and Dubai
De Beers will allow clients to view goods in Antwerp and Dubai at next week’s sight, with both the company and its Russian rival Alrosa maintaining their policies of enabling 100% deferrals.The two largest miners...
Rough Markets Jul 23, 2020 Joshua Freedman
Jewelry store display
Mom-and-Pop Stores Doing OK – for Now
Independent US jewelers have weathered the Covid-19 crisis well, but face a serious challenge if the pandemic persists, according to Jewelers of America (JA) CEO David Bonaparte.“Mainstream mom-and-pop retail jewelers, especially the ones that are...
Retail Jul 22, 2020 Joshua Freedman
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