NET PROFIT – ALROSA – RUSSIA
Diamond giant Alrosa has reported that its net profit decreased by 6% to $696.51 million in 2007 as compared to 2006, Israelidiamond.co.il reported. Revenue slumped by 3.81% to $ 3.9 billion, and production costs decreased by 2.8% to $2.21 billion.
Gross profit rose by 4.8% to $ 1.48 billion, and the operating profit dropped by 0.44% to $1.05 billion.
During 2007, Alrosa (including Nyurba) produced $2.37 billion worth of rough diamonds, 2.4% more than it had predicted, and sold $2.79 billion worth of its products.

DIAMOND IMPORTS – DECLINE – INDIA
India imported 14.91 million carats of rough diamonds with a stated value of $1.258 billion dollars in June, IDEX Online reported. These imports, averaging $84.38 per carat, are a 10.6 percent decline in volume and a rise of 32.5 percent in value.
According to provisional data released by the Gem and Jewellery Export Promotion Council, imports in the first quarter of the year totaled 44.33 million carats with a declared value of $3.186 billion – a 5.41 percent rise in volume and 32.5 percent increase in dollar value. They averaged $71.87 p/c.
The combination of the sharp rise in value and the decline in volume in June reflects the rising prices of rough diamonds, and a certain recoiling reaction to them by Indian traders, as they cut back on polishing operations. The cutback is a full U-turn from the rising imports witnessed in April and May.
Exports of rough diamonds continued to grow. In June, India exported 3.324 million carats of rough diamonds. According to official figures, these exports are worth $1.235 billion, just $23 million less than what was imported. At an average value of $371.54 p/c, these export figures are at the very least raising an eyebrow.

CIBJO CONGRESS – MACAU – CHINA
The 2009 Congress of the World Jewellery Confederation (CIBJO) will be held March 2-5 in Macau, IDEX Online REPORTED. CIBJO President Gaetano Cavalieri made the announcement following a meeting of CIBJO’s President’s Council in early July in Antwerp.
Macau is a former Portuguese colony, which, like neighboring Hong Kong, is now a Special Administrative Region (SAR) of China. MJS Trade Fairs (Macau) Ltd., the organizers of the Macau International Jewellery and Watch Fair, will be the chief hosts of the event.
The Congress will follow the second edition of the Macau show, which will take place February 28 to March 3, at the Macau Venetian hotel, which will also double as the Congress venue.

Rough&Polished