Watchmaker Fossil Inc., is selectively laying off staff across its global operations as part of cost-cutting measures to stave off the worsening economic crisis.
Fewer diamonds will be coming out of Rio Tinto's Argyle mine in 2009. The company says the current global economy is spurring it to implement a debt reduction plan that will see the mine's underground project cut back to only critical development activities.
The World Federation of Diamond Bourses (WFDB) says the Diamond Trading Company's (DTC's) decision to offer surplus rough to the secondary market will help the trade face the challenges of the global economy.
Surface-reaching growth tubes surrounded by intense pink 'sleeves' in Mozambique tourmaline is not the result of diffusion treatment, says the Gemological Institute of America (GIA).
In spite of a record year for Swiss watch exports, a downward trend closed off 2008 and is continuing into 2009, says the Federation of the Swiss Watch Industry (FH).
Gold jewellery fabrication fell 11 per cent in 2008, fuelled mainly by a 69 per cent decline in India, Italy, Turkey, and the United States, says a precious metals consultancy.
Customers of Birks & Mayors Inc. will soon have another option when paying for their purchases thanks to an agreement between the Montreal-based jewellery retailer and TD Retail Card Services.
The head of the World Federation of Diamond Bourses (WFDB) is urging its 28 bourses members to remain confident in the long-term prospects for diamonds and diamond jewellery.
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