India’s Diamond Industry Hit by 2% Online Sales Tax
India's diamond industry, already reeling from COVID-19, has been dealt another blow, with the introduction of a 2% online sales tax.
The so-called Equalization Levy will be applied to all sales made by any foreign...
PNG Jewellers Re-opens With New Sanitization Measures
Pune based, heritage jewellery brand, PNG Jewellers re-opened their stores on the 21st of May 2020 on receiving a nod from the authorities. Most of their stores across Maharashtra, barring Mumbai MMR, Camp area,...
Facebook to launch new shopping feature across apps
Facebook announced on Tuesday it is launching Shops, a service that will allow businesses to display and sell products on its platforms.
Mark Zuckerberg, Facebook’s CEO, is positioning Shops as a tool for small businesses,...
Father-son duo to open new jewellery store amid coronavirus crisis
A father and son duo are preparing to open a brand new jewellery store in Hadleigh when lockdown measures are eased.
While many fear retail businesses may be forced to close in the aftermath of...
Rising US-China tensions halt copper price rally
Industrial metals fell back on Friday as warnings about rising tensions between the world’s two largest economies overshadowed a massive economic stimulus announced by Beijing, the world’s top commodities consumer.
Copper trading in New York...
Alrosa Boss Sells Half His Shares to Fight Coronavirus
The CEO of Russian mining giant Alrosa has sold half his stake in the company and donated the proceeds to fighting coronavirus.
The sale of Sergey Ivanov's shares raised RUB18.5m ($240,000) and will help counter...
GJEPC Launches Campaign to Identify Daily Wage Artisans in Need of Financial Assistance
The Gem & Jewellery Export Promotion Council has begun the process of identifying those artisans doing daily wage jobs within the industry who are in need of financial assistance during the ongoing lockdown in...
Sales at Signet Beat Expectations, but Coronavirus Forces Cost Cutting
Signet, the world's largest retailer of diamond jewelry, reported an improved performance for the last quarter of 2020, but will be borrowing $900m as it faces the uncertainty of coronavirus.
The company, whose brands include...
Signet returns to growth but UK sales continue to suffer
Signet Jewelers ended its 2020 fiscal year with a strong holiday season and fourth quarter, but the UK continued to see a decline in sales.
For the fourth quarter, same-store sales were down by 3.1%...
Pandora withdraws 2020 financial guidance as its “no longer meaningful”
Jewelry giant Pandora is withdrawing its financial guidance for the year, stating it is “no longer meaningful” amid the impact coronavirus is having on business.
The recent COVID-19 escalation has had a negative impact on...
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