The All India Gems & Jewellery Trade Federation told Bloomberg that Indian jewelers are believed to be losing around 150 million a day in income from a shutdown in protest at a proposed 1% tax which has entered its second week.
The Diamond Producers Association (DPA) has announced that Sally Morrison, Managing Director of Marketing, will leave the organization in May to pursue another professional opportunity.
The DPA said that to ensure continuity of momentum in its U.S. marketing activities, Michael Pace will join the organization at the end of March as Interim Managing Director of Marketing, until a permanent replacement to Morrison is appointed.
Watch exports from Switzerland were down for the eighth consecutive month last month, with a value of $1.75 billion, a decrease of 3.3% on the year, the Federation of the Swiss Watch Industry said in a statement.
The export figures were greatly impacted by developments in the Hong Kong market, the Federation said.
The World Federation of Diamond Bourses (WFDB) has expressed its horror at the bomb attacks carried out in Brussels, and sends its best wishes to the families of the people killed in the bombings and a speedy recovery for those injured.
The Diamond Producers Association, an organization of the world's leading diamond miners, has launched two movies as part of its campaign to attract millennial buyers.
The movies are part of the 'Real Is Rare' brand campaign which followed more than six months of research which featured interviews with young people aged around 18 to 35 in the United States.
The Gemological Institute of America (GIA) will be holding seminars at the Israel Diamond Exchange next week.
They are aimed at increasing understanding and knowledge about treatments and synthetics. The speakers at the seminars will be Dr. James Shigley and Brenda Harwick.
The GIA said in a statement that only 175 of the 1,042 diamonds which had their grading reports altered in a hacking case by the lab's Indian sub-contractor have been returned for examination to the lab.
The American gem lab said that it was critical that all of the diamonds in question and their reports be returned to GIA for examination to remove the fraudulently changed reports from the market.
Christie’s in Hong Kong reported the sale of the 'Crimson Flame', a rare Burmese ruby, for $18 million. The auction house said the sale set a world auction record per carat of $1.2 million.
The Magnificent Jewels sale brought in $96,904,062, selling 80% by lot and 83% by value.
The Israel Diamond Exchange (IDE) has announced that registration for the fourth edition of the Israel Diamond Week in New York is open.
The event will be held on the trading floor of the DDC, and will take place from October 19 to 22.
Around 100 Israeli diamond traders will be taking part in the event on the DDC's trading floor.