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ICEX to Launch Diamond Futures in March | The Jewelry Magazine

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The Indian Commodity Exchange (ICEX) is planning to launch three futures contracts for diamonds in March to provide exporters with a hedging tool, the exchange said recently, according to a report published in profit.ndtv.com. India is a global diamond polishing hub where 14 out of every 15 rough diamonds in the world are polished. The exchange has received "in-principle" approval from the market regulator Securities and Exchange Board of India (SEBI) to start futures trading and the course will initially launch three contracts for stones sized 30 cents, equivalent to 0.3 carats, 50 cents, equivalent to 0.5 carats, and 1 carat, it said. "The futures contract will enhance the global competitiveness of Indian exporters who will be able to create an inventory and hedge against price volatility which will improve price competitiveness," said Sanjit Prasad, managing director of ICEX . The contracts are designed to consider the requirements of market particip...
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Sarine Achieves Milestone: 10 Million Stones Scanned by Galaxy® Systems Worldwide in 2017

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The Sarine group has announced that it crossed a significant milestone in 2017, with its Galaxy® family of scanning and inclusion mapping systems having scanned 10 million stones worldwide in one single year. The Company said that Galaxy® family of systems have now cumulatively scanned over 30 million stones since they were first introduced in the industry in 2009. It took six years for the Company to complete the first 10 million scanned stones. When that milestone was reached in July 2015, average quarterly throughput was only one million stones. The rate of growth has risen rapidly after that, Sarine reported, adding the 2017 landmark was achieved despite prevailing industry conditions and other impediments, adding that it will continue to aggressively counter illicit infringement of its intellectual property. The Galaxy® family of systems (today encompassing the Galaxy® , Galaxy® XL, Galaxy® Ultra, Solaris® and Meteor® products) has provided automated, accurate, comprehens...
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Sears Will Close 103 Stores in the First Half of 2018 | The Jewelry Magazine

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Sears Holdings announced Thursday that it will close another 103 stores—both Kmart and Sears units—in 2018. In a press release distributed Thursday, the company said it informed workers at 64 Kmart stores and 39 Sears stores that their locations will be closing between early March and early April 2018. “We will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members,” the company said in the same statement. This language closely echoes the statement issued with their November 2017 announcement of 63 store closings to take place by the end of this month, as well as an earlier list of 43 stores—eight Kmarts and 35 Sears locations—that were to be shuttered by the end of October last year. It wasn’t clear from the release how many employees will lose their jobs in this latest wave of contraction, but it said eligible sales associates at ...
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