De Beers buys out LVMH, now owns all of retail chain
De Beers has bought out longtime partner LVMH and now owns 100 percent of the De Beers Diamond Jewellers retail chain. No price was given.
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‘Mines to Market’ forum highlights
India’s Gem & Jewellery Export Promotion Council (GJEPC) is celebrating 50 years by hosting leaders from across the diamond industry. Rapaport News presents live updates from the two-day conference covering mining, manufacturing, marketing and politics.
Swatch Group sees sales, profit sink in 2016
Swatch Group reported a drop in net sales and income in 2016 amid a “very challenging economic environment” in which watch sales continued to decline. In its full-year financial report released Thursday, the company said net sales were $7.58 billion, an 11 percent decrease year-over-year at both current and constant exchange rates.
Agarwal to buy $2.5B stake in Anglo American
Shares in Anglo American rose 9 percent on Thursday after Indian billionaire Anil Agarwal announced his intention to invest $2.45 billion (GBP 2 billion) in the mining conglomerate.
UAE nominates Maryam Al Hashemi for KP Committee Position
Ahmed Bin Sulayem, the 2016 KP Chair, has nominated Maryam Al Hashemi, the UAE KP Director, as the 2017 Chair of the Committee of Participation and Chairmanship (CPC) of the Kimberley Process.
D.E.F. announces powerhouse line-up of honorees for “Diamonds Do Good” awards in Las Vegas
The Diamond Empowerment Fund (D.E.F) announced a powerful program for its “Diamonds Do Good” Awards gala set for June 4 at the Four Seasons Ballroom in Las Vegas. Acclaimed actor and social justice advocate David Oyelowo, who starred in such films as Selma and A United Kingdom will receive the International Vanguard Award.
Alrosa posts 41-percent jump in revenue to $5.4 billion in 2016
Alrosa reported a 41-percent jump in revenue to 317.1 billion rubles ($5.4 billion) for 2016 IFRS (International Financial Reporting Standards) results.
Trade leaders to gather at Mumbai conference
India’s Gem & Jewellery Export Promotion Council (GJEPC) will host industry figures from across the world next week at a conference to mark the organization’s 50th anniversary.
Bringing diamonds to a new generation
The Diamond Producers Association (DPA) has the mammoth task of changing the diamond narrative, according to Jean-Marc Lieberherr, the organization’s chief executive officer. Initially, at least, that mission extends to how the diamond industry engages with millennials, who have become disillusioned with the idea that they’re simply expected to buy diamonds for an engagement or […]
India braces for ban on large cash deals
India’s ban on high-value cash transactions could damage rural gold demand or spur growth in the black market, the World Gold Council (WGC) warned.
Christie’s to offer ‘Jonker No. 5 diamond’ at Hong Kong spring auction
The Jonker No. 5 diamond and an emerald and diamond ‘Palmette’ necklace are among the exceptional items that auctioneer Christie’s in Hong Kong will be offering at its Spring auction on May 30.
GIA finds significant undisclosed synthetics
The Gemological Institute of America (GIA) recently uncovered an unusually large number of undisclosed synthetic diamonds mixed in with natural melee diamonds, the lab confirmed with Rapaport News on Monday.