ABN AMRO, a long-time major financier to the global diamond and jewelry businesses, is closing its branches in the United States and Dubai, according to a transcript of comments made by officials to journalists and analysts.
The American branch is being closed due to the bank's small portfolio.
HRD Antwerp India has opened a new office at the Bharat Diamond Bourse (BDB), with the BDB Management Committee welcoming the Chief Guest for the opening, Peter Huyghebaert – Consul General for Belgium in Mumbai.
Russian diamond mining giant ALROSA sold $396.2 million of rough stones last month, and $1.978 billion worth in January-April.
Antwerp World Diamond Centre (AWDC) and India's Gem & Jewellery Export Promotion Council (GJEPC), have launched a know-your-customer (KYC) exchange platform called MyKYCBank.
A new program aimed at helping diamond and gemstone buyers, sellers and tradeshow organizers work efficiently called EasyShow is set to be launched.
The GIA plans to open a laboratory in Surat, India, and expand its long-term presence in Antwerp in the second quarter of this year, as it aims to meet the needs of the global gem and jewelry industry.
The GIA announced that it has premises in both locations.
The National Retail Federation said that retail sales in November increased 0.9 percent over October on a seasonally adjusted basis and were up 6 percent year-over-year unadjusted, according to calculations.
Online and other non-store sales grew 10.5 percent year-over-year, reflecting the growth of online shopping. The numbers exclude automobiles, gasoline stations and restaurants.
2017 was a "stellar" year for Christie’s jewelry sales, the auction house said in a statement.
"Nine new world record prices were achieved at our sales worldwide driven by intense competition from collectors who bid at the highest levels for important diamonds, rare gems and jewels, and superb objects," said Rahul Kadakia, International Head of Jewelry, Christie’s.
The World Diamond Council (WDC), which represents the industry at the Kimberley Process (KP), has expressed its gratitude to those who took part in the KP's Plenary Session last week for "embracing the spirit of collaboration and open dialogue around KP reform".
De Beers sold rough diamonds with a provisional value of $450 million in the 10th sales cycle (Global Sightholder Sales and Auction Sales) of 2017.
The mining giant said that there had been a continuation of good demand heading towards the end of the year.