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The Hong Kong show was better than expected for the diamond trade, as Chinese jewelers were looking for goods after being absent from the market for some time. But while exhibitors were simply happy to be doing business again, conditions ultimately favored buyers.
Technology’s influence is so strong in today’s world that it is starting to drive trends rather than just being a response to them. In retail, it’s playing an equally large part as many of the trends that are shaping the market seem to be a confluence between the consumer behavior and tech.
De Beers has dropped the price of the device designed to automatically batch screen diamond melee by nearly half. The second-generation Automated Melee Screener, or AMS, is priced at $45,000, compared with $85,000
ALROSA representative Dr. Sergei Terentev will introduce the firm’s newly developed instrument Diamond Inspector at the third Mediterranean Gemmological and Jewellery Conference in May.
Think about some of the biggest names in the acting business–Harrison Ford, Al Pacino, Marlon Brando, Paul Newman. If these stars appeared in a movie wearing a watch, what brand would it likely be?
Sarine and GGTL Laboratories have signed a collaboration agreement to research new and advanced approaches to gemological challenges facing the diamond industry. They have signed a collaboration agreement to research new approaches to diamond grading and authentication.
Russia’s Deputy Prime Minister Yury Trutnev has confirmed that Alrosa President Andrey Zharkov will be replaced by Sergey Ivanov, currently the Senior Vice President of Sberbank. He made the comments to the TASS news agency on the sidelines of the Russian Investment Forum in Sochi on Monday.
It is more than two months since demonetisation of high-value currency notes in India took effect, but the resilient gems & jewellery industry, though stirred, stands strong and stoic in the face of adversity.
Andrey Zharkov will resign as president of ALROSA, a source close to the Russian diamond miner said. Zharkov’s three-year term as president expires in May 2018, but the timing of his departure is unclear, the source said in an email to Rapaport News on Tuesday.
In February, the International Grown Diamond Association (IGDA) has lived to be exactly one year old. However, there is no much fanfare audible – this modest jubilee has been slipped over by the industry media, regrettably.
The Swiss watch industry started the year where it left off as exports fell in January, albeit at a slower pace than in 2016. Outbound shipments of Swiss timepieces fell 6.2 percent year on year to $1.42 billion (CHF 1.43 billion), according to the Federation of the Swiss Watch Industry.
The diamond trade remains under pressure, and further contraction of the market is expected this year. Apart from being squeezed by high rough costs and declining polished prices, dealers lament there are too many players chasing the same orders.