WJA hosts Inaugural Women Executives Forum in NY

The Women’s Jewelry Association (WJA) held the inaugural Women Executives Forum in New York City aimed at businesswomen across jewellery and watch sectors, according to the report in WFDB.

Today

Nirav Modi of the PNB scam arrested in London; denied bail

Modi was arrested yesterday after a London court issued an arrest warrant against him in response to a request by the Enforcement Directorate of India for his extradition in a money laundering case.

Today

Alrosa wants majority stake to mine diamonds in Zimbabwe – report

Russian diamond miner Alrosa, which will be assessing the quality of Zimbabwe’s diamond reserves over the next six months, wants a majority stake to mine diamonds in the southern African country, according to a news report.

Yesterday

Diamond Fields auctions Namibian marine diamonds for $1.1 mn

Diamond Fields has sold 47,298.18 carats of rough diamonds from the ML111 licence offshore Namibia for $1.1 million.

Yesterday

Two distinct, contrasting sectors emerging in global rough diamond market – Lucapa

Lucapa Diamond said the global rough diamond market has divided into two distinct and contrasting sectors.

Yesterday

Mumbai: Rs 3,000 crore diamond import scam busted

16 july 2018

(The Times of India) - The directorate of revenue intelligence (DRI) has busted a multi-crore import scam where it said diamond merchants with the connivance of valuers inflated the value of the precious stones brought into the country and used this route to transfer black money out of the country. The fraudsters are believed to have taken out over Rs 3,000 crore in the past year-and-half, said DRI officials.