GJEPC to organise the first Diamond Studded Jewellery Virtual Buyer-Seller Meet

The Gem & Jewellery Export Promotion Council of India (GJEPC) will organise the Diamond Studded Jewellery VBSM from 25 – 28 November 2020. Buyers are expected from the UK, the USA, Europe, Australia, New Zealand and Russia, according to the press...

Today

LVMH and Tiffany discuss reducing price of deal

LVMH and Tiffany Co. are in discussions to reduce the price of the French luxury giant’s contested deal to buy the U.S. jeweler. Tiffany is seeking around $132 a share as a compromise price. It would also likely want a guarantee that LVMH wouldn’t back...

Today

Belgium approved a new law, guaranteeing basic banking services for companies

The Federal Parliament of Belgium approved a new law, guaranteeing basic banking services for all Belgian companies. The law will come into effect 6 months after publication in the Belgian Official Gazette, AWDC reported.

Yesterday

India’s polished diamond export dips 20% in September; rough import up by 16%

India’s cut and polished diamond exports declined 19.60 per cent registering $ 1564 mn during Sept 2020 as against $ 1946 mn exported in Sept 2019, according to provisional data released by the Gem & Jewellery Export Promotion Council of India.

Yesterday

Recovering global diamond industry to propel Botswana economic growth in 2021

Botswana's economy will recover and grow by 7.7% in 2021 from the projected 8.9% contraction this year as the global diamond industry bounces back, according to news reports citing the finance minister.

Yesterday

The Importance of Being Tiffany

Today

(diamonds.net) - There was a moment during the 2019 Academy Awards ceremony that made the jewelry world stop and gasp. Lady Gaga, who would later that evening collect the coveted Oscar for best original song, stepped onto the red carpet in an Alexander McQueen dress, black leather gloves, and a storied yellow-diamond necklace by Tiffany & Co. The necklace’s 128-carat center stone, which company founder Charles Lewis Tiffany first discovered in South Africa over 140 years ago, hadn’t appeared in public since Audrey Hepburn wore it during the Breakfast at Tiffany’s press tour in 1961. Its sudden appearance at the Oscars, adorning one of music’s most prominent personalities, capped the re-emergence of a brand that had spent the previous two years consciously trying to regain its mojo.

Nornickel Announces Comprehensive Support Programme for Taimyr’s Indigenous Peoples

Yesterday

Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, has signed cooperation agreements with three organizations representing the indigenous peoples of the Taimyr Peninsula. These organizations represent over 90% of the indigenous population living in the north of Russia. Nornickel has developed jointly with them a comprehensive, five-year support programme totalling 2 billion roubles. The new programme expiring in 2024 includes a wide range of various initiatives aimed at the protection of the natural habitat and support of the traditional activities of the indigenous peoples, as well as funding for housing, medical, infrastructural, touristic, educational, and cultural projects. The list of these projects has been defined with an immediate input from the local indigenous communities, which should provide the basis for the most efficient cooperation between indigenous peoples, local governments, and industrial companies regarding regional development.

The Third Wave: After COVID-19 and Economic Hardship, What is Luxury’s Next Challenge?

Yesterday

(jingdaily.com) - With so many societal changes going on in the world, it’s getting harder to believe in blind, senseless consumerism. Given the ongoing COVID-19 pandemic and the ensuing economic contraction, more and more consumers are gradually shifting from products to purpose. Even as the business of luxury shows swift signs of a rebound, luxury brands need to prepare now for the next challenge — environmental, social and governance issues — which can no longer simply be a tick box exercise.

Diavik’s continued operation now ‘at risk’ over missing $120M

27 october 2020

(cabinradio.ca) - The future of the NWT’s Diavik mine is now “at risk,” managers say, with Diavik operator DDMI owed $120 million by financially stricken minority owner Dominion.

The star that burns twice as bright burns half as long: Petra Diamonds completes its falls from grace, and looks unlikely to rise any time soon

26 october 2020

(proactiveinvestors.co.uk) - It was as inevitable as it is painful: shareholders in Petra Diamonds Ltd (LON:PDL) are facing a near total wipeout as bondholders take over the running and ownership of the company, following a disastrous few years at what was once the world’s fourth largest diamond company.

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