Jewelry Business Articles & News

IDCA Appeals to the Jewelry Trade

IDCA Appeals to the Jewelry Trade
IDEX Online, Israel
(August 27, ‘06, 7:07 IDEX Online Staff Reporter)

The Indian Diamond and Colorstone Association (IDCA) is urging retailers to contact the United States Trade Representative (USTR) before the September 5 deadline for comments, and ask it to continue the trade benefits granted to Indian jewelry manufacturers under the GSP (Generalized System of Preferences) program.

According to IDCA, U.S. jewelry retailers and consumers could face serious economic hardships if a longstanding trade agreement with India, Brazil and some other trade partners is revoked.

“Withdrawing jewelry imports from the GSP program would add a six percent duty to a significant portion of jewelry products purchased by US consumers,” IDCA quoted trade experts in a release.

“Consumers already facing rising gold, diamond and oil prices, and feeling the effects of a softening US dollar, may see the retail prices for jewelry increase 15 to 20 percent, with disastrous effects on the retail market.”

IDCA is encouraging retailers to email the USTR office before the September 5 deadline, urging the US government to maintain the GSP status granted to India, Brazil and 11 other trading partners.

Add comment August 28th, 2006

ARMED ROBBERS HOLD UP RICHMOND JEWELRY STORE

ARMED ROBBERS HOLD UP RICHMOND JEWELRY STORE
CBS 5, CA
08/27/06 4:15 PDT
RICHMOND (BCN)

Three suspected armed robbers are in police custody this afternoon after reportedly holding up a jewelry store inside the Hilltop Mall in Richmond.

According to Richmond police Lt. Enos Johnson, officers received word around 11:54 a.m. of a group of armed individuals that had entered the Exotic Custom Jewelry store located at 2136 Hilltop Mall Road, took 20 to 30 watches and fled in a silver four-door, American-made vehicle toward westbound state Highway 80.

Johnson said a Richmond police agent spotted the suspect vehicle just before noon in the 900 block of Humboldt Street, at which point the suspects stopped the vehicle, exited and ran.

Two suspects were arrested right away, Johnson reported. A third suspect was found during a K-9 search of the area. San Pablo police helped Richmond police with the search.

Johnson said a fourth individual must have gotten out of the vehicle before the Richmond police agent saw it on Humboldt Street because all three of the individuals that were seen fleeing the car have been arrested on suspicion of armed robbery.

Johnson reported the suspects abandoned some of their clothing and some of the property that they had stolen during the chase and search.

Add comment August 28th, 2006