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Diamondsnews : Post Valentine situationDear $email, News (with Rapaport and National jewelers): U.S. Valentine's Day diamonds sales weak. Despite the nation's sluggish economy, Valentine's Day jewelry sales were stable for most retailer. De Beers takes $521m loss for 2007 due to weak U.S. dollar with sales -3% to $6.84b. DTC sales were -4% to $5.9b. Indian trade wants government to provide low interest dollar loans as overseas banks cut credit lines. Blue Nile 4Q-07 sales +23% to $112m, profits +31% to $7.5m, but stock plummets 20% on company warning of little to no growth for 2008 due to weak economy. U.S. 2007 polished imports +10% to $18b; polished exports +24% to $11b. Dec. polished imports +17% to $1.3b, polished exports +41% to $1b; Christie's 2007 jewelry sales +11% to $395m. India Jan. polished exports +21% to $1.3b; polished imports +228% to $517m; rough imports +9% to $892m. Rio Tinto 2007 diamond sales +22% to $1b with diamond profits +33% to $280m. Gold jewelry demand (4Q-07) -17% to 586 tonnes with India -67% to 54 tonnes due to surging prices.
FOCUSING ON THE CHALLENGES From left De Beers chairperson Nicky Oppenheimer, De Beers MD Gareth Penny and De Beers finance director Stuart Brown" Better-quality diamonds still in demand in diamond subprime-hit US, says Oppenheimer
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the Incomparable DiamondWorld's Third Largest Cut Diamond Comes to the Royal Ontario Museum As Part of The Nature of Diamondsread our last August Diamonds Newsletter In this section: Buy some : Bidz jewelry auctions | ross simons | Zavier New Eternity Bands on ShopDIVisit Ross-Simons for the very best in jewelry, luxury items, and gifts. more sites: photo news
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