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IDE's Yoram Dvash: 2017 shaping up to be more positive

After a tough 2015, last year provided the diamond industry with more stability and 2017 could be even better, says Yoram Dvash, President of the Israel Diamond Exchange (IDE) and Vice-President of the World Federation of Diamond Bourses (WFDB). In this...

Today

Education is the most important part of generic diamond promotion effort

The activity of World Diamond Mark® (WDM) established by the World Federation of Diamond Bourses (WFDB) to enhance consumers’ desire to buy natural diamonds is currently focused on the downstream segment of the diamond pipeline in the belief that the...

20 february 2017

There is more growth to come as global market turns to online purchasing

After living in UK and US for a considerable part of his life, Ashraf Ahmed returned to UAE where he lived as a child, only to set up shop in a sector he is passionate about... gem stones and jewellery. A graduate in Business & Finance, Ashraf is adequately...

13 february 2017

Global diamond jewelry sales are expected to decline slightly in 2016 - Bain & Company

Bain & Company, a leading global business consulting firm, offering solutions on issues of strategy and operations, works with over 2,700 major multinational corporations across every economic sector, including the diamond mining industry. Antwerp...

06 february 2017

Kristall is worried about the external environment, which is sometimes changing "categorically"

Kristall Production Corporation is the leader of Russia’s diamond-cutting industry. The company produces almost half of the total amount of diamonds, which are cut and polished in the country. Having over 50 years of diamond manufacturing experience...

30 january 2017

Dubai imposes 5% import duty on gold jewellery

12 january 2017
Dubai has imposed a 5% import duty on gold and diamond jewellery, a move which is likely to hurt Indian exports.
Jewellery design in Dubai is expected to get a major boost as dependence on imports from India reduces. The import duty is being seen as a precursor to the introduction of a value added tax regime in Dubai.
Not all exports from India to the Emirates will be affected as the jewellery from India is mostly re-exported from Dubai to other parts of the world. Only the jewellery exported for local use in Dubai will attract a 5% duty.
The new levy may, however, boost bridal jewellery sales in India because many Indian shoppers had turned to Dubai owing to the cheaper gold there and the price difference may no longer be attractive enough.

Aruna Gaitonde, Editor-in-Chief of Asian Bureau, Rough & Polished

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