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IDE's Yoram Dvash: 2017 shaping up to be more positive

After a tough 2015, last year provided the diamond industry with more stability and 2017 could be even better, says Yoram Dvash, President of the Israel Diamond Exchange (IDE) and Vice-President of the World Federation of Diamond Bourses (WFDB). In this...

Today

Education is the most important part of generic diamond promotion effort

The activity of World Diamond Mark® (WDM) established by the World Federation of Diamond Bourses (WFDB) to enhance consumers’ desire to buy natural diamonds is currently focused on the downstream segment of the diamond pipeline in the belief that the...

20 february 2017

There is more growth to come as global market turns to online purchasing

After living in UK and US for a considerable part of his life, Ashraf Ahmed returned to UAE where he lived as a child, only to set up shop in a sector he is passionate about... gem stones and jewellery. A graduate in Business & Finance, Ashraf is adequately...

13 february 2017

Global diamond jewelry sales are expected to decline slightly in 2016 - Bain & Company

Bain & Company, a leading global business consulting firm, offering solutions on issues of strategy and operations, works with over 2,700 major multinational corporations across every economic sector, including the diamond mining industry. Antwerp...

06 february 2017

Kristall is worried about the external environment, which is sometimes changing "categorically"

Kristall Production Corporation is the leader of Russia’s diamond-cutting industry. The company produces almost half of the total amount of diamonds, which are cut and polished in the country. Having over 50 years of diamond manufacturing experience...

30 january 2017

Russia’s Finance Ministry does not deem it possible to launch a new float of ALROSA in 2017

17 february 2017
(rns.online) – It is impossible to have another round of privatization for ALROSA in 2017, Alexey Moiseev, Deputy Minister of Finance said on Thursday.
"Not this year, for sure. There should be an agreement with the other shareholder (the Republic of Sakha - RNS). We have always said that the sale of the federal stake above 10.9% is impossible. On the part of the Russian Federation, we have now sold just enough to reach this level. Any further reduction of our shareholding will be done in parallel with Yakutia," he said.
According to Alexey Moiseev, the negotiations between the Federal Property Management Agency and the Republic of Sakha has not yet begun.
"I do not see any possibility this year. If it will occur, it will be later," he said.
The privatization of the 10.9% stake in diamond miner ALROSA was completed on July 11, 2016. ALROSA’s President Andrey Zharkov called this floating operation satisfactory and stressed that he saw no need for further privatization.
Last December, Yegor Borisov, the head of Yakutia told RNS that he did not see any need for further privatization of ALROSA either. He noted that additional floating of the Russian Federation’s 8-percent stake in ALROSA was not discussed with the Republic of Sakha (Yakutia). The head of Yakutia reiterated the position that the republic will keep its stake of 25% plus one share, and its uluses (municipalities) will preserve their 8%.
"We believe that today the company is operating quite well. From the point of view of the company’s efficiency ... there is no need to do this. Privatization is generally a way to find an efficient owner," he said.
However, the privatization plan for 2017-2019 received by the RNS news agency in early February 2017 included ALROSA among other companies.


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