(IDEX Online) - Indian jeweler Tanishq has opened its first stores in the US and Abu Dhabi.It says it is planning further outlets as it expands beyond the 400-plus stores it currently operates at home.The first US store is in Iselin, New Jersey. Tanishq, a subsidiary of the massive Tata conglomerate, already had six stores in the UAE and now has one in he capital.It says it plans to open as many a...Read More
(IDEX Online) - Tiffany & Co. has bought a parcel of 35 pink diamonds from the iconic Argyle mine in Australia, which closed in November 2020.It will offer them "to select clients" at a series of high jewelry events starting this spring 2023 and in future Tiffany "Blue Book" creations.The stones arrange from 0.35 carats to 1.52 carats. Most are pink, some are "almost purple" and one is red. Th...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 12 points in pre-opening trade. Lockheed Martin added $5.42 to $446.70 after reporting higher than consensus fourth quarter revenues and earnings.DR Horton advanced $0.72 to $96.40 after reporting higher than consensus fourth quarter revenues and earnings. General Electric added $2.09 to $79.77 after reporting higher...Read More
(IDEX Online) - De Beers says new CEO Al Cook will formally take over from Bruce Cleaver on 20 February.It announced last October that Cleaver, who has been at the helm since 2016, will become co-chairman of the company.Cook is moving from Equinor, Norway's state-owned petroleum company, where he was executive vice president of exploration and production international."I am very pleased to be...Read More
(IDEX Online) - A clerical error is being blamed after a leak of tailings (waste material) from the Ekati diamond mine, in Canada, was mis-reported as a more serious 12,000-litre diesel spill.Owners Arctic Canadian Diamond Company filed an incident report relating to the spill last December.But staff have since told Cabin Radio, the news channel for Yellowknife and the Northwest Territories, that...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. Spotify added $4.09 to $102.00 after announcing a 6% reduction in employee count.Salesforce.com advanced $7.25 to $158.50 on news that Elliott Management made a multimillion dollar investment in the company. Advanced Micro Devices gained $1.65 to $71.71 after Barclays upgraded the stock f...Read More
(IDEX Online) - Indian diamond traders are too worried about volatile currency exchanges to buy Russian diamond in rupee.The welcomed the announcement last July that nine banks were opening "vostro accounts", allowing them to maintain business ties, despite Western sanctions against Moscow.But imports of rough from Russia have fallen by 40 per cent since April 2022 and not a single diamond trader...Read More
(IDEX Online) - Richemont saw jewelry sales rise by 11 per cent in the last three months of 2022, despite a Covid-related slump in China.Buccellati, Cartier and Van Cleef & Arpels drove much of the increase, the company said in an update. Jewelry was its best performing sector.Total revenue across all jewelry brands for the quarter was $4.03bn. Watch sales fell three per cent to $1.04bn...Read More
(IDEX Online) - Eira Thomas, chief executive of Canada-based Lucara Diamonds, says Russian diamonds "should be sanctioned".She told the Financial Times (FT) that, in her personal view, the EU should outlaw its gems when its 27 member countries adopts a new package of sanctions early next month.Belgian imports of Russian diamonds fell to $167m in the three months to the end of September 2022, aroun...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade. The Canadian Dollar was unchanged at US74.22 cents following released of Canada's December Retail Sales at 8:30 AM EST. Consensus was a drop of 0.5% versus a gain of 1.4% in November. Actual was a drop of 0.1%.Netflix added $19.60 to $335.33 after subscriber additions beat consensus.Costc...Read More
(IDEX Online) - Israel Diamond Exchange is to host its first international events since the Covid pandemic.The inaugural Israel Diamond Conference will take place on March 27, bringing together mining ministers, major diamond producers, finance and banking leaders and other key industry figures. A tender of white and fancy color polished goods, Diagurus, the Israeli branch of the South Africa...Read More
(IDEX Online) - Kim Kardashian has bought the amethyst and diamond pendant famously worn by the late Princess Diana.The American socialite and media personality paid $197,453 for the Attallah Cross after fierce bidding at Sotheby's London yesterday. The estimate was $97,000 to $145,000.The The Fleuree cross, circa 1920, set with square-cut amethyst and accented by circular-cut diamonds belong...Read More
(IDEX Online) - The eight-year-old daughter of a wealthy Indian diamond merchant has relinquished her share of a $61m inheritance, to become a Jain nun.Devanshi Sanghvi took part this week in the 'diksha' ceremony, abandoning all material possessions, after a lavish four-day ceremony in which she rode in a carriage pulled by an elephant.She was heiress to the Sanghvi and Sons jewelry bus...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 29 points at 7:30 AM EST.Two economic reports are released this morning at 8:30 AM EST. December Housing Starts are expected to drop to 1.385 million units from 1.427 million units in November. January Philly Fed Index is expected to improve to -11.0 from -13.8 in December.Allstate dropped $3.43 to $129.00 after notin...Read More
(Adds information on lawsuit) RIO DE JANEIRO, Jan 18 (Reuters) - Brazilian miner Vale plans to spend about 7.8 billion reais ($1.53billion) this year on repairs related to the deadly collapse ofa tailings dam in the mining town of Brumadinho, a companyexecutive told Reuters on Wednesday. The spending plan comes on the same day that Brazil'sSupreme Court ordered lower courts to immediately startpr...Read More
(IDEX Online) - Priceless jewels have been recovered after the $129m heist at The Green Vault museum, in Dresden, Germany - but many have been damaged.And some of the most valuable items from one of Europe's greatest art collections are still missing.Three of the six defendants being tried for the raid, in November 2019, changed their pleas to guilty on Monday, having returned 31 fragments fr...Read More
(IDEX Online) - Lucapa says it's delighted with the recovery of two +10.8-carat diamonds from bulk sampling at its Lulo mine, in Angola.The Australian miner says it recovered specials weighing 15.27 carats and 12.37 carats from kimberlite L164, upstream of the Canguige catchment area in the Cacuilo Valley.The total yield was 41 diamonds, with a total weight of 66.05 carats. Among them were 12...Read More
(IDEX Online) - Finance company Delgatto will use Sarine technology to evaluate diamonds in a unique agreement designed to provide more funding for rough purchases.DDFF (Delgatto Diamond Finance Fund) will use Sarine's Galaxy, DiaExpert and Advisor platforms to assess the future value of a stone when it's been cut, and decide whether it's eligible for financing.DDFF will also offer...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade. Index futures moved higher following release of economic news at 8:30 AM ESTDecember Retail Sales were expected to drop 0.8% versus a decline of 0.6% in November. Actual was a decline of 1.1%. Excluding auto sales, December Retail Sales were expected to decline 0.4% versus a decline of 0...Read More
(Refiles to correct source in paragraph 6 to official companystatement, not spokeswoman) JAKARTA, Jan 19 (Reuters) -Germany's BASF and French miner Eramet are finalising a $2.6 billion partnership deal to invest in afacility in Indonesia to process nickel for use in batteries forelectric vehicles, Indonesian officials said. The Indonesian announcement comes as Southeast Asia'sbiggest economy has...Read More