Login

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

Namibia anti-corruption commission ‘drops’ diamond firm probe – report

17 february 2017
Namibia’s Anti-Corruption Commission (ACC) has reportedly “dropped” an investigation into whether the state-owned Namib Desert Diamonds (Namdia) deliberately sold the country’s diamonds cheaply to Dubai-based firms.
The Namibian newspaper had previously claimed that Namdia sold the country's diamonds for a song to the Arabs who then went on to sell the diamonds at a higher price in the Middle East.
It cited sources claiming that Namdia sold diamonds for US$500 per carat in Windhoek, but the same diamonds were then sold abroad for $2 500 per carat.
The country’s mines minister Obeth Kandjoze dismissed the allegations.
However, this did not stop the ACC to establish whether the diamonds were indeed deliberately underpriced.
“I requested him (Kandjoze) to provide clarity (on Namdia),” ACC director general Paulus Noa was quoted as saying by The Namibian newspaper.
“The minister gave me all the answers I wanted. I am satisfied with the answer.”
Although Noa said he was convinced that nothing fishy took place, the daily cited people “with links” to ACC as saying that the investigation into the new diamond company was still ongoing.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

Comments

Only registered users can add comments (Register, Login)