News of the day

Jewelry magnate Laurence Graff pays visit to Israeli diamond week

Leading British jeweler Laurence Graff visited the US/International Diamond Week where he was given a tour by IDE President Yair Sahar and Diamond Dealers Club of New York President Reuven Kaufman.

"The Diamond Week is very impressive, Graff says. "When was the trading hall this busy? It is a tremendous idea. Really excellent." He declined to comment on whether he planned to buy any diamonds.

De Beers Diamond Jewellers Opens Stores in Malaysia and Baku

De Beers Diamond Jewellers is opening stores in Kuala Lumpur in Malaysia and Baku, Azerbaijan.

The stores feature De Beers’ unique store design concept of glass and light, higher counters and special viewing rooms. Each De Beers store is equipped with a De Beers Iris device that enables customers to inspect diamonds close up.

Alrosa's diamond reserves jumped by nearly 36 million carats last year

Alrosa's diamond reserves last year increased by around 35.8 million carats, partly as a result of exploration of the Ebelyakh and Gusiny placers, the company's executive committee was told.

Alrosa reported in November last year that it has diamond reserves, proven and probable in Russia, of 630.6 million carats.

The miner began exploration of the Dalnyaya pipe, and continued operations at its Verkhne-Munskoe, Mayskoe and Zarnitsa deposits.

Tiffany & Co. posts small increase in sales and profit in fourth quarter

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Luxury jeweler Tiffany & Co.'s worldwide net sales increased 4 percent to US$1.2 billion in the fourth quarter, while net earnings rose 1 percent US$180 million.

For the fiscal year ended January 31, 2013, worldwide net sales increased 4 percent to US$3.8 billion, while net earnings declined by 5 percent to US$416 million.

Israel bourse's technology section receives advanced diamond counting device

Yosi Kuzi, a co-owner of Hong Kong-based Diamonds Services Ltd, presented a special gift to the Technology Wing of the Israel Diamond Exchange (IDE) – the GemBox RFID.

Based on state-of-the-art radio-wave technology, the device can count 1,000 diamonds in just 30 seconds.

Israel's international diamond week event aiming to return global industry to full strength

The Israel Diamond Exchange (IDE) is leading the international diamond business sector's marketing efforts at a time when it needs to make tremendous efforts to return to profitability and strong growth, IDE President Yair Sahar said in a message to 150 diamond buyers who will be taking part in the US / International Diamond Week.

The event will be held March 17-20 at the Israel Diamond Exchange (IDE) in Ramat Gan.

Tiffany & Co. Sees Share Downgraded and Price Target Slashed

High-end jeweler Tiffany & Co. has had its share downgraded to sell from hold and its stock price target reduced to $52 from $58, with an analyst saying the jewelry company's fundamentals do not line up with its high stock price.

Tiffany's stock price has climbed sharply this year despite disappointing holiday season sales, analyst Laura Champine of Canaccord Genuity says in a note to clients.

Leibish & Co. selling 2.02-ct fancy vivid purplish pink at HK International Jewellery Show

Fancy color diamond firm Leibish & Co. will be selling a 2.02-carat, Fancy Vivid purplish pink SI2 diamond at the March 5-9 Hong Kong International Jewellery Show.

The diamond comes from a 4.96-carat rough stone and the cushion-shaped diamond has been named the Leibish Pink Promise.

Prices of fancy color diamonds are continuously rising due to robust demand. Sotheby's sold a 0.51-carat Fancy Vivid Purplish Pink VS2 for $338,500 or $663,725 per carat in February.

Diamond-Set Shoes Modeled on Rolls Royce Go on Sale in China

A pair of diamond-set shoes modeled on a Rolls Royce have been created by Chinese designer Chris Lu and are on sale at a shop in Guangzhou in China for US$5,320.

The high-heeled sling back shoes are completely covered in diamonds, while the toe caps are made to resemble the grille of the famous car.

Called the Charm of Rolls-Royce, the pair won second prize in last year's International Shoe Design competition and could be entered for a Guinness world record in the category of the high-heeled shoes set with the most diamonds.

G4S says all clients paid for losses from Brussels airport robbery

G4S International Logistics has paid its clients who incurred losses as a result of the Brussels Airport robbery on February 18. The security firm said it paid in full within four days of the theft.

It is believed US$50 million of diamonds were stolen by eight armed men who drove through the airport fence in two vehicles and stole parcels of diamonds that were about to be loaded onto a flight to Zurich.

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