09.02.2010

Russia February Market Report: Outlook for 2010 Positive

ALROSA, Russia’s largest diamond miner, said the demand for rough diamonds began growing in the early days of 2010 and that it expected to sell more than $300 million worth of rough in January. For the year, the miner expects $3.3 billion in revenue and approximately $100 million in net profit on production of $2.3 billion worth of rough.

08.02.2010

Indian banks bring extra liquidity to Antwerp diamond sector

Three major Indian banks have opened branches in Antwerp in the past three years, joining the State Bank of India in providing finance for the city's diamond trade. The Bank of India opened a branch in Antwerp in 2007, while ICICI Bank, India's largest private bank, made its entry into mainland Europe with the opening of a branch in Antwerp a year earlier. They joined the State Bank of India which was already operating in the city. The latest entrant, opening a branch last year, was Standard Chartered Bank India. The Belgian branch offices aim to attract some of the world's largest diamond firms and offer a variety of corporate banking products.

05.02.2010

Tianjin’s jewelry market at a stage of fast development

Since November 2009, the project of a new trading zone, Binhai, in the suburb of the Tianjin City approved by the State Council of the People’s Republic of China entered the period of fast development. Since the time when all the issues related to several large-scale projects were settled, the zone expects its further development and according to preliminary forecasts Binhai’s potential may well compete with the Pudong Economic Zone located in Shanghai.