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In its most basic form, the role of a government is to serve the needs of a country’s population. It is responsible for providing infrastructures, an education system, health services and security to the people. To do so, it needs money. Money usually comes from the citizens of the country who provide funds to the […]
Once again, the U.S. rough diamond figures are out of whack. Of the $630.3 million worth of goods imported to the U.S., only $206.5 million remain there, less than a third of the goods – by value. The issue was discussed here a couple of times in the past, however last week the final figures for 2011 were published by the International […]
The DTC’s “dynamic distribution” system for rough diamonds will let it continuously assess the manufacturing industry and allow it to reallocate rough supplies and bring strong performers on board as Sightholders even before the current Sightholder contract period expires in 2015, said DTC CEO Varda Shine.
Prosecutors in Belgium put a trader on trial after a major police raid on his business, arrests in Israel as police investigate illegal financial activities at the diamond exchange, in India the government decides to battle round-tripping, and the U.S. State Department is talking with NGOs about how to change diamond trade regulations. Ladies and […]
The new Chair of the Kimberley Process, Ambassador Gillian A. Milovanovic does not foresee KP “going beyond the question of rough diamonds.” However, the organization is examining the definition of conflict diamonds.
“Can you imagine postal workers around the world being told to boycott mail from a certain country because of human rights abuses in that country?!” This is what a flabbergasted industry member asked me recently. His response reflects a growing sentiment in the middle section of the diamond pipeline, which includes rough diamond buyers, manufacturers […]
The times they are a-changin’,” Bob Dylan sang in 1964, and nearly 50 years later, that has not changed. There’s no doubt that the times are taking us in a new direction socially and culturally. We look around us and may say, “The times are not as they used to be,” and lament about how […]
Some Price, Assortment Adjustments The Diamond Trading Company (DTC) opened its first sight of 2012 with an estimated value of $650 million, as the De Beers distribution unit adjusted prices but changed the assortments presented.
The sudden decision by the Indian government to tax polished diamond imports has surprised many in the country’s diamond industry, although it should not have. For a number of years, the government and leaders of the industry warned against the practice of round-tripping – the multiple import and re-export of the same goods for the […]
It seems like the past half decade has been bumpy for the diamond industry. Diamond prices have been on a roller coaster, diamond industry credit has tightened and uncertainty throughout the diamond pipeline has been well above normal.
It is obvious that a lot of thought and careful collection of information is behind the complaint Lazare Kaplan International (LKI) filed against KBC bank and Antwerp Diamond Bank (ADB) on December 23. If a guess could be made, there are many emotions in the case too. This is far from a typical heated business […]