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Expert reports

22.05.2015
RBI takes aim at defaulters
(DNA) - India’s top banker, it is rumoured in Delhi’s corridors of power, is on a hyperbole to recover the lost cash of India’s nationalised banks and even set a deadline for the same. Raghuram Rajan, the suave chief of the Mumbai-based Reserve Bank of India, has roped in the Prime Minister’s Office (PMO) because he feels that is the best way to get some “genuine action” in solving India’s 10 biggest bank frauds. What is interesting is these defaulters are all prominent real estate, media and diamond firms, all probed by the Central Bureau of Investigation (CBI), the country’s premier investigating agency.

21.05.2015
My tanzanite mining experience, albeit at a museum
Despite some properly high-rising buildings in Arusha, northern Tanzania, the majority of buildings are in a dilapidated state and telephone cables are seen crisscrossing like branches of trees in a thick forest. Development appears to be taking place, somewhat slow. However, there is one building known as the Blue Plaza along India Street that is a symbol of hope.
It houses a company called Tanzanite Experience, which sells polished tanzanite.

20.05.2015
Diamonds: Getting your money’s worth
(PIX11) — From fracture-filled diamonds to synthetic stones and phony certificates, the business of buying a sparkly gem is a dirty one indeed. “We’re shopping for an engagement ring,” said Eric Hammond, who went undercover with PIX11 News to see just how these deals are being made. The saleswoman across the counter is all smiles: “Well, congratulations!” PIX11 News went diamond shopping at some of the most well-known stores and getting the hard sell.

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News

25.05.2015
De Beers places Kimberley mines on market, wants extension of mine life to 2018
De Beers is exploring the extension of the operating life of mine of its Kimberley mines tailings operation in South Africa beyond 2018 by placing the mine on the market.

25.05.2015
Belgium’s Federal Council of Ministers Approves New “Carat” Tax Proposal
Belgian newspaper Gazet van Antwerpen reports that Belgium's Federal Council of Ministers has finalized and approved the legislative framework accompanying the budget proposal, including the new tax proposal for the diamond industry.

25.05.2015
Gem Diamonds declares maiden dividend
Gem Diamonds’ board has recommended a maiden dividend of 5 US cents per share ($6.9 million) to shareholders following the final results announcement last March.

25.05.2015
Phillippe Mellier to address WFDB Presidents' Meeting
Philippe Mellier, Chief Executive Officer of the De Beers Group, is invited to be a keynote speaker at the upcoming 2015 World Federation of Diamond Bourses (WFDB) Presidents' Meeting in Tel Aviv on June 14-16.

25.05.2015
June Hong Kong Fair’s ‘Diamond Pavilion’ to be bigger
More than 2,000 jewellery and gemstone companies will be showcasing their goods at the 28th edition of the June Hong Kong Jewellery & Gem Fair (June 25 to 28) at the Hong Kong Convention & Exhibition Centre.

25.05.2015
Heritage Auctions gets $5 million for its fine jewelry sale
Heritage Auctions' sale of fine jewelry achieved $5 million earlier this month. The top lot, a 5-carat, fancy light pink diamond ring by Chopard, was sold for $605,000.

25.05.2015
Hong Kong based jeweller eyes major expansion
A Hong Kong-based luxury retailer Emperor Watch and Jewellery (HK) Co Ltd, is setting its sights on smaller cities in China to drive growth amid lacklustre sales, as reported in China Daily.

25.05.2015
GIA schedules multiple events, services at JCK
The Gemological Institute of America's (GIA) booth set at the 2015 JCK Las Vegas show will offer the attendees of the event a set of special offerings, ranging from the show service laboratory to educational in-booth briefings and a special museum display.

Exclusive

25.05.2015
Gemstone dealers are richer than us, Tanzania small scale miners mourn
olam_mustapha_x.jpgTanzania’s Tanga Small Scale Miners Association said it is not happy with the manner in which gemstone dealers in the East African country are profiteering from their hardwork. The association chairperson Olam Mustapha told Rough & Polished’s Mathew Nyaungwa on the sidelines of the Arusha Gem Fair in Tanzania last month that the dealers were buying stones for as low as $10 per gram and then obtain $100 per gram or even $200 per gram when the same stones are sold abroad. Below are excerpts of the interview.


Analytics

Italian Jewellery Sector Still Fighting for Credit
The first trimester of 2015 has not been entirely positive for the Italian jewellery sector. While overall the economy has shown signs of improvements, the credit pipeline suffered yet another preoccupying setback. In February the Italian Treasury sent its inspectors to Banca Etruria, finding hidden losses for around € 500 Million. The bank was immediately subjected to compulsory administration. Often dubbed the “Bank of Gold”, Banca Etruria has a pivotal role in the Italian jewellery sector: for decades it has been the major financier of the Arezzo jewellery district.

Indian jewelry industry in April: navigating towards sustainable development
The Indian diamond industry was on a slow track during the month of April. Demand from overseas buyers, as well as local demand was much lower than the earlier months, but the quiet market is attributed to the off-season during this part of the year.

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