India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

A go-getter at heart, with an attitude to match, Pramod Kumar Agrawal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a man in a hurry. He has not left any stone unturned to bring back the Indian gem & jewellery...

Yesterday

“Only do business with clients who have impeccable integrity,” suggests Davy Blommaert, banker

Davy Blommaert heads the Diamond Business at National Bank of Fujairah, which falls under the bank’s corporate and institutional banking division. With nearly 10 years of experience in the diamond industry, he was tasked to establish a unit within NBF...

18 march 2019

Russia’s export legislation is like a log on the road making it difficult to drive through

Eduard Utkin, General Manager of the Russian Jewellers Guild Association, which is a member of the Russian Federation Chamber of Commerce and Industry, answers the questions from Rough & Polished regarding the activities of the country’s professional...

11 march 2019

Botswana mum on new demands as negotiations with De Beers draw closer

Botswana said it will begin new diamond marketing and sales negotiations with De Beers in June or July this year. Mineral resources minister Eric Molale told Rough & Polished’s Mathew Nyaungwa on the sidelines of a mining conference in Cape Town, South...

04 march 2019

DLX-jewellery will focus more on colour stone designed pieces as well as diamond jewellery sets going forward - Jack Chen, General Manager, DLX-Jewellery

Graduating in International Business from an Institute in Sydney, Australia, in 2015, Jack Chen returned to China to start managing his family-owned jewellery business. Besides holding a certificate in a practical diamond course at Gemological Institute...

25 february 2019

ALROSA and Chow Sang Sang of China to trade in euros

14 march 2019

Mining major ALROSA finally succeeds in convincing a Chinese customer to deal with it in a currency other than US dollars, says a report in South China Morning Post.
Evgeny Agureev, ALROSA’s director of sales told the Post on the sidelines of the Hong Kong International Jewellery Show that it had signed up Chow Sang Sang Jewellery on a long-term contract this year but did not disclose details such as volume and prices. However, both the companies will trade in euros as part of a pilot project, according to officials at both companies.
Chow San Sang’s signing is a positive start for the Mirny, Sakha Republic-based ALROSA amid a slowing Chinese economy and an ongoing trade war with the US, but not been immune to slowing sales on the mainland.
Agrureev told the Post, “The China market is very important for us. Selling directly here has been a difficult journey, as people here like to start with small quantities and gradually build up their trust,” Agureev said. “Sales are likely to improve in April once there is some clarity on the trade talks and global economic outlook.” The company has set itself a sales target of $180 mn in China. China accounts for 4 per cent of ALROSA's total sales, according to the report.

Aruna Gaitonde, Editor-in-Chief of the Asian Bureau, Rough & Polished