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ALROSA’s diamond cutting and polishing to be headed by Pavel Vinikhin

Pavel Vinikhin appointed as Director of DIAMONDS ALROSA – ALROSA’s cutting and polishing division, one of the largest diamond manufacturers in Russia. In fact, he has been managing the enterprise since October 2016 when he was an acting director.

Yesterday

ALROSA posts financial results for H1 2017

On Thursday, ALROSA published a report on financial results for the period of January-June 2017 in line with the Russian Accounting Standards (RAS), from which it follows that the company's profit before tax amounted to 53.5 billion rubles...

Yesterday

De Beers Q2 diamond output up 36pc to 8.7 million carats

Anglo American said De Beers’ rough diamond production leaped 36 percent to 8.7 million carats in the second quarter of the year.

Yesterday

Rapaport Melee Index stable in 2Q

Melee diamond prices remained stable during the second quarter of 2017, with the Rapaport Melee Index (RMI) for small diamonds unchanged at 108.50 for the period.

Yesterday

Angola’s Lulo more than doubles Q2 output, sales

Sociedade Mineira Do Lulo (SML), which is owned by Lucapa, Endiama and Rosas & Petalas produced 4,203 carats of diamonds during the quarter ended 30 June 2017, an increase of 63 percent from 2,581 carats, a year earlier.

Yesterday

How Three Jersey Shore Developers Intend To Drop The Price Of Diamonds

14 july 2017
(forbes.com) - These three 28-year-old guys work out of Asbury Park, New Jersey, just a quick drive to the boardwalk and The Stone Pony, the venue that’s famous for launching Bruce Springsteen’s career. One of them, Justin Insalaco, is a former Mercer County cop, who came up with the idea for a law enforcement app after getting frustrated that he couldn’t access critical information, like policies and floorplans, from his cell phone. That app became Guidant Systems, which has been adopted by The Department of Homeland Security and The Pentagon Force Protection Agency. Insalaco developed it with his business partners Matthew Roselli, a former advertising executive, and Jason Elhomsi, who came out of financial marketing. None of them have any background in jewelry, which is why Roselli found ring shopping so challenging after he decided to get engaged a few years ago. “When you say you’re getting engaged,” Insalaco says, “about 15 people in your network in Jersey and New York tell you that they’ve got a [diamond] guy.” Still, Roselli found the process daunting, unsure of whom to trust and why ring prices varied so much from jeweler to jeweler. That got the team at 3BDreams, a marketing think tank that Insalaco founded after Guidant Systems became successful, wondering. They founded Legemdary in 2015, with the notion that engagement ring buyers should have access to the kind of easy, seamless shopping experience that the internet has made possible for so many different industries. Legemdary is reverse auction site that bypasses the retailer completely . Instead, it connects buyers with wholesalers.

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