International News
Sarine sales decline, reports loss for the first nine months
Sarine Technologies reported a loss for the first nine months of 2025 as continued weakness in the natural-diamond manufacturing segment weighed on performance. Revenue fell 27% year on year to $22.3 million for the period ending September 30, reflecting broad demand softness across key markets.
The company posted a net loss of $500,000, which included a $100,000 loss tied to its investment in Kitov.ai during the third quarter. This compares with a $200,000 net loss in the same period of 2024, underscoring the deeper pressures facing the natural-diamond pipeline.
Sarine noted that manufacturers remain challenged by subdued global demand, driven primarily by the growing market share of lab-grown diamonds in the US and persistently weak luxury retail sales in China. Sentiment has been further dampened by uncertainty surrounding US import tariffs.
In August, the company completed the acquisition of a 33% stake in Kitov.ai, a provider of advanced inspection solutions for multiple industries. Sarine also extended a convertible loan to the firm, which could be converted into additional equity and raise Sarine’s ownership to as much as 51%, positioning the group for deeper technology integration and future growth opportunities.
International News
Kerala Jewellers Account For Approximately 20% Of The Total Gold Trade In UAE:K. Surendran
State President of KGSMA Highlighted The Strong Presence and Growing Economic Impact Of Kerala’s Retail Gold Sector In The Region.
Kerala jewellers account for approximately 20% of the total gold trade in the United Arab Emirates, according to K. Surendran, State President of the Kerala Gold and Silver Merchants Association (KGSMA).
Speaking at the General Body Meeting of the Dubai Kerala Jewellery Association held at the Novotel Hotel in the Dubai Gold District, Surendran highlighted the strong presence and growing economic impact of Kerala’s retail gold sector in the region.
The meeting was presided over by Association President Muneer Thangals, with KGSMA State General Secretary Adv. S. Abdul Nazar delivering the keynote address.
Key discussions during the session focused on:
Business Opportunities: Capitalizing on emerging trends within the UAE gold and jewellery retail landscape.
Industry Challenges: Addressing operational and trade issues faced by Kerala-origin jewellers in Dubai.
Member Welfare: Strengthening support networks and welfare initiatives for trade community members.
The event featured addresses from prominent industry leaders, including Dubai Kerala Jewellers Association General Secretary Mujeeb Rahman Tajvi, Treasurer Shuhaib Zia, KGSMA State Vice President Faisal Amin, Legal Advisor Adv. Abraham P. John, alongside Shameer A.G.D., C.K. Nasi, and Rafeeq Maharaja.
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