Hang in There!
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Saturday,March 14 2020 [ Issue 2 March/ 2020 ]
Hang in There!
The world of diamonds and precious stones and the gems and jewellery industry on the whole has been rocked badly by numerous factors, ranging from escalating prices of precious metals and Covid-19. The former may well be a result of several economic forces, which will get corrected over time, but the latter is indeed unpredictable and seems to indirectly affect the lives of several stake holders. Right from diamond industry workers in Surat and such other places who have been rendered jobless, for no fault of theirs to retailers who have started concentrating on other avenues of earning a stable livelihood.

The virus has indeed grown to pandemic proportions, as several expos, trade fairs and exhibitions have been postponed or even cancelled. The Istanbul Jewelry Show, which was to be held from 19-22 March has now been postponed to 18-21 June. Earlier also, the Watches and Wonders Geneva previously called Salon International de la Haute Horlogerie (SIHH) cancelled its show, Baselworld, which was on the minds of hundreds visitors from across the globe was postponed to January 2021. When shows of this stature are postponed, business defers and that costs the industry heavily. These are trying times and the key players influencing the wealth of nations have suddenly found themselves at crossroads.

‘When the going gets tough, the tough get going,’ each industry player must take it upon himself or herself to mobilise resources to the fullest for the higher good and prove to

 
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Highlights
Sergey Ivanov has been CEO of ALROSA since March 2017. His contract was for three years. “On behalf of the shareholders, I would like to thank Sergey Ivanov for three productive years and congratulate him on his re-elec
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DHL Express, the world’s leading international express service provider, and BVC Logistics, India’s largest secure logistics enterprise, today entered into a partnership that will enable Indian SMEs in the gems an
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ALROSA’s February 2020 sales of rough and polished diamonds reached $346 million as compared to$405 million in January the same year. The sales includedrough diamond sales to third partiesof$342.3 million, polished diam
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After 12 years of serving as the Managing Director of GIA India & Middle East, Nirupa Bhatt will be stepping down from her position. With her experience and knowledge that she has garnered over three decades, she was resp
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Following the highly volatile gold market and Covid-19 striking terror amidst people across the world and particularly in South-East Asian countries -- Chinese jewellery major, Chow Tai Fook Jewellery (1929) posted a 60 per c
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In light of the recent global developments around the COVID-19 virus, the organisers’ top priority is the health and safety of everyone involved in the Istanbul Jewelry Show; their employees, partners, customers and exh
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Managing through the Industry Challenges 2019 was a challenging year for diamond industry due to a combination of factors, which resulted in weaker demand for rough diamonds: -Excessive inventory build-up at the beginning of
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The roundtable took place at AWDC headquarters on March 2. ALROSA’s core long-term clients participated in the event. The company gathered market participants ahead of the March trading session to receive their feedback
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These artisanal miners were seeking ruby-bearing gravels and, despite repeated warnings from MRM personnel, commenced undercutting the outer edge of the mining pit. This led to several ground collapse incidents in which 11 ar
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