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Polished Markets
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Feb 28, 2013
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Dilipp S Nag
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Petra Diamonds Records Net Loss of $15M
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Petra Diamonds Ltd. reported a net loss of $15.2 million for the six months that ended on December 31, as it accounted for losses from the sale of its Fissure mines. The miner reported a net loss...
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Mining
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Feb 25, 2013
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Dilipp S Nag
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Indian Dealers Upbeat at Quiet Signature Show
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Sentiment on the opening day of the Mumbai Signature show was fairly positive despite the lack of visitor traffic on Friday. Diamond dealers in India maintained a positive outlook for the market as steady demand and...
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Polished Markets
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Feb 22, 2013
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Avi Krawitz, Dilipp S Nag
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India to Suspend Gold Jewelry Imports from Thailand
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India is planning to suspend its gold jewelry imports from Thailand as the government has expressed concern that the incoming jewelry does not have 20 percent added value as stipulated in the foreign trade agreement between...
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Financial-Legal
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Feb 21, 2013
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Dilipp S Nag
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India's Polished Diamond Exports -7% in January
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India’s polished diamond exports declined 7 percent year on year to $1.689 billion in January 2013, the Gem & Jewellery Export Promotion Council (GJEPC) reported Monday. By volume, polished exports fell 11 percent to 3.122 million carats...
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Polished Markets
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Feb 18, 2013
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Dilipp S Nag
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The Return of the Gold Carriers
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India’s decision to increase the gold import duty for the third time in about a year has made the local gems and jewelry industry nervous, and not without reason. They are not as worried...
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Retail
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Feb 17, 2013
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Dilipp S Nag
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Rajesh Exports 3Q Sales +20%
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Jewelry manufacturer Rajesh Exports Ltd. reported that sales rose 20 percent year on year to $1.45 billion (INR 78.23 billion) during its third fiscal quarter that ended on December 31, 2012. Growth was driven...
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Retail
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Feb 15, 2013
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Dilipp S Nag
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Shrenuj's 3Q Sales +60%, Profit +13%
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Shrenuj & Co. Ltd. reported that third quarter group sales rose 60 percent year on year to $265.9 million (INR 14.30 billion) for the period that ended on December 31, with a strong performance at its...
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Polished Markets
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Feb 14, 2013
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Dilipp S Nag
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Gitanjali's 3Q Sales +27%, Profit +34%
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Gitanjali Gems Ltd. reported that group sales rose 27 percent year on year to $809.5 million (INR 43.55 billion) during its third fiscal quarter that ended on December 31, 2012. Strong performances at its jewelry...
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Retail
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Feb 14, 2013
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Dilipp S Nag
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Retail
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Feb 13, 2013
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Dilipp S Nag
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Rough Markets
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Feb 13, 2013
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Dilipp S Nag
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Couples to Curb Expenditures for Valentine’s Day
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Lovers on this Valentine’s Day in India are likely to curb their expenditures on big-ticket items such as jewelry, a romantic getaway or an expensive designer outfit due to ongoing weak consumer sentiment, ASSOCHAM projected in its latest survey.The report...
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Retail
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Feb 12, 2013
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Dilipp S Nag
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ALROSA Recovers 145-Ct. Diamond
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ALROSA recovered a diamond weighing 145.44 carats, which may be valued at $1 million if it is placed on auction, according to experts from its diamond-sorting center.The world's largest diamond producer by volume stated that the diamond was recovered in late...
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Rough Markets
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Feb 12, 2013
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Dilipp S Nag
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Kiran Expands Operations in India, China
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Kiran Gems, a leading manufacturer of white diamonds, opened new offices in Delhi and Shanghai, expanding its operations in the local and overseas markets.The company’s new office in Delhi is located in Karolbagh and will serve as the...
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Polished Markets
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Feb 12, 2013
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Dilipp S Nag
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The Allure of Social Commerce
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Social media has revolutionized methods of interaction globally, and not only individuals are smitten with the medium's power. Even the government and political parties have jumped into the fray. Shashi Tharoor,...
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Retail
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Feb 10, 2013
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Dilipp S Nag
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PC Jeweller to Increase Focus on Diamond Jewelry
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India’s PC Jeweller Ltd. (PCJ) plans to enhance its focus on diamond jewelry given their higher profit margins and as consumers' buying behavior is increasingly shifting towards diamond jewelry from gold jewelry.PCJ on Thursday reported sales...
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Retail
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Feb 08, 2013
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Dilipp S Nag
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RBI Panel Suggests More Curbs on Gold Imports
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A panel created by the Reserve Bank of India (RBI) to study issues related to gold has recommended measures such as introducing new gold-backed financial products, designing inflation indexed bonds and prohibiting bank finance for purchases...
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Financial-Legal
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Feb 07, 2013
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Dilipp S Nag
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India’s Luxury Market May Grow to $15B by 2015
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India’s luxury market is expected to grow 25 percent in 2013 and at that same rate for the next two years, up from the current level of $8 billion and irrespective any global economic slowdown, according to a study by ASSOCHAM-Yes...
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Retail
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Feb 06, 2013
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Dilipp S Nag
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Polished Markets
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Feb 04, 2013
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Dilipp S Nag
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Big Business in Smaller Cities
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Indian jewelry retailers seem to be in a hurry to expand these days, but this has nothing to do with trying to outdo competitors during the wedding season. Retail jewelers are discussing expansion of their operations, but the interesting...
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Retail
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Feb 03, 2013
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Dilipp S Nag
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