WFDB – CEASE TRADE – VENEZUELA
The World Federation of Diamond Bourses (WFDB) has called on the members of its 29 bourses to refrain from direct and indirect trade in diamonds originating from Venezuela. This step comes in the wake of Venezuela’s announcement that the country is suspending itself from the Kimberley Process Certification Scheme for two years.

TANISHQ – INDIA – JEWELLERY
On the back of robust growth in jewellery and watches business, Tata group's Titan Industries is aiming to become a $1 billion company by the end of this fiscal year.
The company has also charted out store expansion programs for its jewellery, watches and eye wear divisions in India, besides planning to enter the U.S. market with the Tanishq brand of jewellery by next month.

CHARLES & COLVARD – K&G CREATIONS – MULTIMILLION SUIT
Moissanite maker Charles & Colvard, Ltd. faces a US$50 million countersuit following its recent US$2.8 million action against K&G Creations, reports BizJournal. Charles & Colvard seeks to collect amounts K&G allegedly owes for moissanite jewel purchases pursuant to a manufacturing agreement between the two companies that was terminated as of December 31, 2007, explains James R. Braun, Vice President of Finance and Chief Financial Officer of Charles & Colvard.
"We had a contract that provided we would get the lowest prices available for the type of goods that we were buying and inadvertently they mailed us one of our competitor's invoices which, in fact, had a lower price on it," Neil Koppel, President of K&G, told BizJournal.

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