> Staying Clear of Industry Madoff-ization
While my inbox is cluttered with many wishes for a better 2009, there is also an alarming pile of “bad news.” This latter category refers to the phenomenon where diamond dealers under stress and in pain decide to try to survive by deceiving and even defrauding their colleagues or
their banks. |
(January 01, 2009 - Memo) |
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> IDEX Online Market Report – 15/01/2009
As the New Year gets underway, trading conditions remain subdued across the globe. Retailers and traders in the U.S. are trying to protect themselves by maintaining smaller inventories. Trends are shifting there from top quality to medium quality goods. |
(January 15, 2009) |
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> DTC Sightholder Festdiam in Provisional Liquidation
Festdiam Cutting Works (Pty) Ltd. is in provisional liquidation, sources in South Africa have confirmed. The Diamond Trading Company (DTC) Sightholder was recently mentioned in connection with a swindle, where it claims to have lost $35 million. |
| (January 15, 2009) |
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> De Beers Staff: ‘Individuals at Risk’ – 25% Will Lose Jobs
De Beers’ London office will lay off 25 percent of its staff. As with every major undertaking at the organization, it has construed an elaborate “selection framework” within which selection activities related to this major downsizing in London is taking place. |
| (January 15, 2009 - Memo) |
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> First Major Trade Show of 2009 Opens in Vicenza
> The first major trade show of 2009 got underway on Sunday with the opening of Vicenzaoro First in Vicenza Italy. The show is host to around 1,700 participating exhibitors, all hoping, but not really believing, that the new year will bring with it renewed optimism for buyers who are still recovering from the depressing end to 2008. While many exhibitors are no doubt feeling the pinch, they are putting on a brave face and trying to get on with business. |
(January 11, 2009 ) |
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> Liven Up Your Business with IDEX Online Diamond Prices & Index
The by-invitation-only fine jewelry event “Salon Privé Haute Joaillerie Dubai,” will take place October 18-22, 2009 at the 5-star Madinat Jumeirah. It will offer the high-end jewelry and timepiece and offer designers and manufacturers introductions to new retail business opportunities, according to event organizers. |
(January 08, 2009) |
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> Online Jewelry Sales Fall Sharply, Yet Gains Luxury Market Share
Online sales in the Jewelry & Watches product category fell 24 percent in the holiday season, according to comScore and MasterCard Advisors’ data. However, the category outperformed overall sales of luxury goods (including jewelry and watches), which fell 34 percent compared to last year, according to MasterCard. |
(January 04, 2009) |
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> Saad Raises Petra Holding to 44%
Saad Investments Company, part of the Saudi Arabian Saad Group, has increased its holding in diamond miner Petra Diamonds Limited to 81,010,794 ordinary shares, representing approximately 44.03 percent of Petra's ordinary issued share capital. |
(December 30, 2008) |
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> Debswana: Taking Long Term View While Responding to Current Recession
On the heels of the Moody’s assertion last week that Botswana’s era of fast economic growth is probably over, the country’s Debswana, a 50/50 partnership with De Beers, announced a number of steps aimed at sustaining the company in the long term, by taking a number of quick short term steps. |
(December 23, 2008) |
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New SA State Diamond Trader Appointed
After months without an official replacement, the South African State Diamond Trader (SDT) has a new chief executive, Futhi Zikalala, according to Business Report. She replaces Abbey Chikane whose contract was not renewed in September 2008. |
(January 18, 2009) |
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