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How Three Jewelers Are Coping During COVID-19
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Can my company survive this crisis? How long will the shutdown last? Should I lay my workers off? Should I apply for government support? The coronavirus outbreak has left US jewelers with a string of questions. There...
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Retail
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Apr 07, 2020
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Joshua Freedman
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Bank Told to Restore Exelco Assets: Bloomberg
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A court has ordered KBC Group to return the assets it seizedfrom Antwerp-based diamond firm Exelco within 24 hours, Bloomberg reportedThursday.The Belgian bank took hold of assets belonging to Exelco onJune 22, according to a separate report by the...
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Financial-Legal
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Jul 09, 2017
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Rapaport News
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ALROSA Repays Loans to VTB Bank
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ALROSA has paid off $600 million of loans to VTB Bank aheadof their repayment date, the Russian miner said on Tuesday.The company received the loans from VTB in 2012. In 2014, theywere extended until October...
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Mining
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Mar 01, 2017
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Rapaport News
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Analyst Upbeat on Diamond Market
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VTB Capital raised its price target for ALROSA shares as buoyant holiday sales are expected to result in a wave of restocking amongretailers.The investment bank increased its 12-month target to $2.30(RUB 140) from $1.73 (RUB 105),...
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Mining
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Dec 14, 2016
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Rapaport News
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ALROSA Starts Work on New Zarya Mine
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ALROSA has started developing the Zarya pipe, a new depositin its Aikhal Mining and Processing Division, forking out an estimated initialinvestment of $149 million (RUB 9.8 billion).The mine is expected to reach a targeted capacity of 1million...
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Mining
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Jun 13, 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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UK’s Paragon Shares Suspended Amid Financial ‘Uncertainty’
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Paragon Diamonds Limited, listed on the UK’s AlternativeInvestment Market, has had trading in its shares temporarily suspended amid“material uncertainty” over its financial position, the London Stock Exchange confirmed in a statement November 16.The miner...
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Mining
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Nov 17, 2015
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Rapaport News
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Financial-Legal
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Sep 02, 2015
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Rapaport News
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Birks Group Secures a $33M Loan
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Crystal Financial LLC, a portfolio company of Solar Capital Ltd., closed a $33 million second-lien term loan for jewelry retailer Birks Group that matures in August 2018. Crystal Financial operates as an independent commercial finance company,...
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Financial-Legal
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Dec 17, 2014
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Jeff Miller
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Mountain Province Appoints Banks for $370M Facility
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Mountain Province Diamonds Inc. selected three banking institutions to arrange and underwrite a senior secured term loan facility of up to $370 million to fund the company's share of construction costs at the Gahcho Kué diamond mine located...
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Financial-Legal
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Jul 28, 2014
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Jeff Miller
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JCPenney Calls CIT Report Untrue
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J. C. Penney Company Inc. claimed that CIT continues to support its suppliers, contrary to news reports from yesterday, which sent the retailer's shares plummeting about 12 percent. CIT continues to factor and support deliveries from...
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Financial-Legal
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Aug 01, 2013
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Jeff Miller
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Zale Secures a New $665M Credit Arrangement
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Zale Corporation secured a new $665 million credit facility, which includes an amended and extended $650 million revolving credit facility and new $15 million first-in, last-out (FILO) funds. The retailer utilized increased...
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Financial-Legal
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Jul 24, 2012
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Jeff Miller
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