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Rockwell's 4Q Revenue +11%, Loss Narrows to $4M
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Rockwell Diamonds reported that revenue increased 11 percent year on year to $9.1 million for the fourth quarter that ended on February 28. The average per carat value of rough diamonds sold rose 30 percent to $1,355...
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Mining
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May 24, 2013
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Jeff Miller
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Macy's, JCP, Target, Others Sue Visa, MasterCard Over Swipe Fees
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A number of major U.S. retailers sued Visa and MasterCard over swipe fees, ahead of a May 28 deadline for retailers to opt in, or out, of a $7.25 billion proposed settlement on this same issue. Plaintiffs, including Macy's, Target,...
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Financial-Legal
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May 24, 2013
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Jeff Miller
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Court Dismisses Wynn Diamond Case
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The U.S District Court of the Central District of California granted a motion for summary judgment in the ''Wynn Diamond'' case to defendant Brett Stettner. The plaintiff, Diane Breitman, the owner of Queen of Diamonds of Los Angeles,...
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Financial-Legal
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May 24, 2013
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Ricci Dipshan
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Petra Sells Blue Rough Diamond for $17M
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Petra Diamonds sold an exceptional 25.50 carat blue diamond that was recovered from its Cullinan mine in South Africa in April for $16,910,180 or $663,144 per carat.Johan Dippenaar, the CEO of Petra, said, “We are...
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Rough Markets
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May 24, 2013
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Jeff Miller
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Gold Star to Launch Ttva Brand
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Press Release: Gold Star Jewellery Pvt. Ltd., a De Beers sightholder, is developing patented cuts with a brand name of Ttva. The new cuts were developed under the technical and design guidance of the brand's promoter, Sanjay Shah, who will launch Ttva, the ''Innovative Solitaire'' at JCK...
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Marketing
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May 24, 2013
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Gold Star
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Shrenuj & Co.'s FY Sales +22%, Profit +4%
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Shrenuj & Company reported that revenue increased 22 percent year on year to $711.3 million (INR 38.6 billion) for the fiscal year that ended on March 31. Profit rose 4 percent to $13.5 million (INR 734...
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Financial-Legal
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May 24, 2013
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Jeff Miller
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ALROSA's 1Q Production -8%, Sales +5% to $1B
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ALROSA's rough diamond production fell 7.5 percent year on year to 7.48 million carats for the first quarter that ended on March 31. However, rough and polished diamond sales in the first quarter jumped...
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Rough Markets
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May 24, 2013
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Jeff Miller
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The Diamond Disconnect
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There is a continued disconnect between rough and polished diamond prices. Therefore, any expectations that polished prices will increase on the back of recent rough price hikes are an illusion. Polished suppliers should not expect...
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Rough Markets
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May 24, 2013
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Avi Krawitz
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Market Comments 5/23/2013
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Diamond markets stable ahead of Las Vegas shows. Manufacturers pressured by high rough prices and low volume trading. Cutting center liquidity tight as Indian factories close for summer vacation. Sentiment improves as U.S. retailers experience steady 1Q: Signet Jewelers sales +10% to $994M, profit +11%...
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Research
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May 23, 2013
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Rapaport
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Rapaport Diamond Industry Stock Tracker
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The following lists diamond-industry public companies and their share price changes from one week ago as of May 23, at 4 p.m. May 23 May 17 Chng. $1 = Euro 0.770 0.780 -0.010 $1 = Rupee 55.72 54.89 0.8...
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Financial-Legal
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May 23, 2013
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Rapaport News
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Rapaport Weekly Indian Market Report
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POLISHED: Activity in the local polished market continues to be on slow due to ongoing summer holidays. Activity continues in VS- category. Market is facing liquidity crisis but gearing up for the upcoming Las Vegas show. Round -1 point: Good demand: $300-$450 whites. Fair demand: $600-$800 whites. -2 point: Good...
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Research
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May 23, 2013
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Rapaport News
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Moscow Buyers to Attend Intl. Diamond Week in Israel
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Press Release: Yair Sahar, the president of the Israel Diamond Exchange (IDE) and Alex Popov, the president of the Moscow Diamond Bourse (MDB), agreed that MDB will organize a delegation of diamond buyers from...
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Polished Markets
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May 23, 2013
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IDE
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Zambia to Host Intl. Emerald Summit
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Press Release: International and local gemstone experts will gather in Lusaka, Zambia later this month for the first Zambian Emerald Summit.The high-level event, which will be held at the Intercontinental Hotel on May 30 and...
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Gemstones
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May 23, 2013
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Gemfields
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Federal Agents Arrest Five in Jeweler Kidnapping Case
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Federal authorities arrested five suspects in connection with a Fairfield, Connecticut robbery and kidnapping that occurred on April 11 at Lenox Jewelers. A joint task force including the Fairfield Police, Meriden Police, the Federal Bureau of Investigation,...
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Financial-Legal
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May 23, 2013
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Jeff Miller
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Earthworks, Trade Unions Say RJC's Certification Misleads Consumers
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Press Release: In a new report, ''More Shine Than Substance: How RJC Certification Fails to Create Responsible Jewelry,'' an international coalition of labor and environmental groups indict the Responsible Jewellery Council's (RJC) certification system as misleading...
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Fair Trade
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May 23, 2013
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Earthworks
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Stolen Diamond Necklace Marks a Second Theft at Cannes
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(RAPAPORT) dpa: A diamond necklace worth close to $2.6 million has been stolen on the sidelines of the Cannes Film Festival in France, the second such jewelry theft at the event in a week, French radio reported Thursday.The...
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Polished Markets
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May 23, 2013
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dpa
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Stuller Promotes Rosen to Head Bridal, Jewelry
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Stuller Inc. promoted Maren Rosen to executive director of the group's jewelry and bridal segment. With her new title, Rosen will be responsible for identifying and understanding emerging trends and developing compelling product...
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Marketing
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May 23, 2013
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Jeff Miller
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Signet's 1Q Sales +10%, Profit +11%, EPS +18%
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Signet Jewelers reported that sales rose 10.4 percent year on year to $993.6 million for the first quarter that ended on May 4. Same-store sale increased 6.4 percent and ecommerce revenue jumped 40.7 percent...
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Financial-Legal
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May 23, 2013
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Jeff Miller
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Rio Tinto Diamonds Launches Diavik Auction Platform
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Rio Tinto Diamonds launched a sales platform to auction a portion of its Diavik diamond production outside of its usual supply agreements with diamantaires. The platform is aimed at increasing efficiency for diamantaires’ rough sourcing activities, according...
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Rough Markets
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May 23, 2013
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Deena Taylor
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