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Winsome Diamonds' 4Q Revenue +9% But Loss Mounts
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Winsome Diamonds and Jewellery Limited reported revenue from operations rose 8.5 percent year on year to $350 million (INR 19.2 billion) for the fourth fiscal quarter that ended on March 31. However, the company recorded a loss of $15.3 million (INR 840 million) down from...
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Manufacturing
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May 17, 2013
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Jeff Miller
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Gemstones
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May 17, 2013
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Rio Tinto
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Financial-Legal
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May 17, 2013
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Guardian
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U.S. Jewelry Price Inflation -1% in April
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The U.S. consumer price index (CPI) for jewelry eased again in April, falling 1.2 percent year on year to 174.96 points in response to weaker prices for precious metals. The CPI was a little more than...
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Research
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May 17, 2013
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Jeff Miller
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Brussels Heist Suspect Fights Extradition
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(RAPAPORT) New York Times: The French owner of a luxury car business -- accused of masterminding a $50 million diamond theft at Brussels Airport -- temporarily fended off extradition to Belgium on Thursday, arguing that the authorities there had not spelled out his precise role.In an hourlong court hearing in the...
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Financial-Legal
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May 17, 2013
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New York Times
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Market Comments 5/17/2013
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Rough markets under pressure with some boxes selling at about 5% discounts following De Beers 4% price increase at last week's $600M sight. Polished trading very slow as Chinese and Indian consumers and retailers buying gold instead of diamonds. Big stone boom continues. Christie’s Geneva sells $102.1M...
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Research
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May 17, 2013
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Rapaport
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JCPenney's 1Q Sales -16%, Loss Jumps to $348M
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J.C. Penney Company Inc. reported sales plummeted 16.4 percent year on year to $2.64 billion for the first fiscal quarter that ended on May 4. Same-store sales dropped 16.6 percent. The retailer reported a loss...
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Financial-Legal
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May 17, 2013
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Jeff Miller
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Hong Kong's 1Q Polished Imports +4%
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Hong Kong’s polished diamond imports rose 4 percent year on year to $4.485 billion in the first quarter of 2013, according to data published by the Diamond Federation of Hong Kong China Limited. By volume, the imports increased 5 percent...
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Polished Markets
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May 16, 2013
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Avi Krawitz
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Belgium's April Polished Exports +23%
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Belgium's April polished diamond exports grew 23 percent year on year to $1.157 billion in April, according to the Antwerp World Diamond Centre (AWDC). By volume, polished exports fell 9 percent to 533,128.25 carats as the average price of the...
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Polished Markets
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May 16, 2013
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Deena Taylor
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MSWG Invites Stakeholders to Join Responsible Sourcing of Precious Stones
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Press Release: The Precious Stones Multi-stakeholder Working group (MSWG) that met in Paris on April 30 has held a follow-up teleconference on May 9 to discuss the next steps. The MSWG agreed that its efforts to attract the broadest possible participation should continue and that all interested stakeholders...
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Fair Trade
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May 16, 2013
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MSWG
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Sotheby's Magnificent and Noble Jewels Sale Nets $78M
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Sotheby's garnered $78.2 million (CHF 74.8 million) at its auction of magnificent and noble jewels in Geneva this week. The auction was 87 percent sold by lot and 92 percent by value.The top lot was a cushion-shaped modified...
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Gemstones
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May 16, 2013
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Deena Taylor
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Christie's Geneva Sale Totals $102M
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Christie’s Geneva sale of magnificent jewels totaled $102.1 million (CHF 98.8 million) with the top lot setting a record auction price for a colorless diamond. The auction sold 86 percent by lot and 93 percent by value....
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Polished Markets
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May 16, 2013
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Avi Krawitz
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DGSE's Revenue -7%, Profit -40%
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DGSE Companies reported that revenue fell 7 percent year on year to $30.5 million and profit plunged 40 percent to $300,412 for the first quarter that ended on March 31. While the company experienced revenue increases...
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Financial-Legal
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May 14, 2013
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Jeff Miller
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Christie's Geneva Spring Sale of Magnificent Jewels
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Christie’s Geneva will offer its spring sale of Magnificent Jewels on May 15, led by a truly sensational 101.73-carat, D, flawless, pear-shaped diamond along with more than 300 other lots. Christie's expects the sale to fetch...
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Polished Markets
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May 14, 2013
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Rapaport News
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GIA Presents 'Synthetic Diamonds and Treatments' in Pretoria
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The Gemological Institute of America (GIA) will present “Synthetic Diamonds and Treatments” to its Alumni Africa Chapter on May 18 in Pretoria, South Africa. Thomas M. Moses, the senior vice president of GIA’s laboratory and research, will...
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Gemstones
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May 14, 2013
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Jeff Miller
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Marketing
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May 14, 2013
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Jeff Miller
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Inaugural Singapore Jewelry Fair Nears Registration Goal
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UBM Asia confirmed that it has so far registered 176 exhibitors to participate in the inaugural Singapore Jewellery & Gem Fair scheduled for October 12 to 15 at the Marina Bay Sands. Organizers plan to host at least 200 exhibitors...
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Marketing
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May 14, 2013
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Jeff Miller
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American Jewelry Design Council Members Support DDI
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Press Release: The Diamond Development Initiative (DDI) is pleased to announce that members of the American Jewelry Design Council (AJDC) have joined the Friends of DDI program. "Ethical sourcing of diamonds is of utmost importance to top designers...
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Fair Trade
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May 14, 2013
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DDI
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Gemfields' Production +33% in 3Q
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Gemfields reported that production from its Kagem emerald mine in Zambia jumped 33 percent year on year to 6.5 million carats for the third fiscal quarter that ended on March 31. Kagem's grade also improved...
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Gemstones
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May 14, 2013
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Jeff Miller
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