On September 13-21, the 41st international auction to sell rough of special sizes was held during the Hong Kong Jewellery Fair.
33 companies from Hong Kong, Israel, Belgium, and India were invited; and 24 of them took part in the auction.
1605.54 carats of ALROSA’S rough was put out (89 lots), including 3 diamonds over 50 carats each. The biggest rough diamond put out to be auctioned weighed 95.77 carats.
81 lots were sold, with the sales total of USD10.20 million.
79 polished diamonds were put out at the polished auction, with the total weight of 286.00 carats. The biggest polished stone weighed 9.04 carats; and the most expensive one weighed 4.01 carats and cost USD52,089 per carat.
33 companies from the continental part of China, Hong Kong, India, Israel, the USA, Belgium, and Thailand took part in the polished auction.
In total, 69 polished diamonds were sold, with the total weight of 264.66 carats to the amount of USD3,323 thousand.
The companies invited by ALROSA to the rough and polished auctions participated actively. Their bids testified to selective demand for diamond products and high clients’ interest to rough and polished of fancy colors.
Tuesday, September 28, 2010
Tuesday, September 21, 2010
Gold Sets New Record
Update: Gold inched above its previous record in early morning trading today to set a new high at $1,284.70 per ounce in London. Gold has been trading close to the $1,200 mark all month, so despite a string of records in the past week it is up only 4.3 percent in the past 30 days. The metal has risen 27 percent from one year ago. In other news this morning, silver added 14-cents at $20.91 per ounce and platinum is up $13 to $1,626 per ounce. The dollar is stable againsts major diamond trading center currencies: $1 = INR 45.69, $1 = EUR 0.76, $1 = JPY 85.7, $1 = CAD 1.04, $1 = ZAR 7.13.
Tuesday, September 7, 2010
Millionaire banker is Barclays boss
An American-born banker whose multimillion-pound pay rewards fuelled anger against the banking sector has been named in the top job at Barclays.
Bob Diamond will take over from chief executive John Varley in March after a 14-year spell with Barclays that has seen him turn its investment banking arm from scratch into a business so large it generates more than 80% of the bank's total profits.
The 59-year-old, one of the world's richest bankers, will be paid a £1.35 million annual salary, up from the current £250,000, and stands to receive potential bonuses worth another £10 million.
In a day of upheaval in the banking sector, HSBC executive chairman Stephen Green also announced plans to step down in favour of a role in David Cameron's government. Mr Green, who has been chairman since 2005, will replace Lord Davies, the former Standard Chartered boss, as Trade Minister.
Mr Diamond said he was "honoured" to take on the new role, but the move is likely to enrage some politicians and union leaders. Many consider Mr Diamond - with an estimated worth of £95 million - to be the epitome of the excessive bonus culture.
Although he waived his bonus last year after widespread criticism of bankers, he received £26 million for his shares in Barclays Global Investors, the bank's fund management business, when it was sold to America's BlackRock.
Mr Diamond was criticised in April by politicians including Lord Mandelson and Vince Cable when it was claimed he received £63 million under a reward scheme.
In his new role, Mr Diamond will receive an annual bonus of £3.375 million on top of his salary, as well as a long-term performance-based incentive worth up to £6.75 million.
Paul Kenny, general secretary of the GMB union, said the appointment was "insulting", adding: "These are the bankers who caused the recession sticking two fingers up at the taxpayers who rescued them.
"This is about as insulting and divisive as it gets. A person who poured petrol on the flames of the fires in the financial system has been rewarded rather than been punished for what he did."
Bob Diamond will take over from chief executive John Varley in March after a 14-year spell with Barclays that has seen him turn its investment banking arm from scratch into a business so large it generates more than 80% of the bank's total profits.
The 59-year-old, one of the world's richest bankers, will be paid a £1.35 million annual salary, up from the current £250,000, and stands to receive potential bonuses worth another £10 million.
In a day of upheaval in the banking sector, HSBC executive chairman Stephen Green also announced plans to step down in favour of a role in David Cameron's government. Mr Green, who has been chairman since 2005, will replace Lord Davies, the former Standard Chartered boss, as Trade Minister.
Mr Diamond said he was "honoured" to take on the new role, but the move is likely to enrage some politicians and union leaders. Many consider Mr Diamond - with an estimated worth of £95 million - to be the epitome of the excessive bonus culture.
Although he waived his bonus last year after widespread criticism of bankers, he received £26 million for his shares in Barclays Global Investors, the bank's fund management business, when it was sold to America's BlackRock.
Mr Diamond was criticised in April by politicians including Lord Mandelson and Vince Cable when it was claimed he received £63 million under a reward scheme.
In his new role, Mr Diamond will receive an annual bonus of £3.375 million on top of his salary, as well as a long-term performance-based incentive worth up to £6.75 million.
Paul Kenny, general secretary of the GMB union, said the appointment was "insulting", adding: "These are the bankers who caused the recession sticking two fingers up at the taxpayers who rescued them.
"This is about as insulting and divisive as it gets. A person who poured petrol on the flames of the fires in the financial system has been rewarded rather than been punished for what he did."
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