“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

20 may 2019

De Beers scaling up Tracr ahead of formal launch

De Beers tracked 100 high-value diamonds along the value chain during the pilot of Tracr™, its industry blockchain platform, for the first time in May last year. A De Beers spokesperson Bianca Ruakere told Rough & Polished in an exclusive interview that...

13 may 2019

The perfect couple - platinum and diamonds

The Jewelry House of Leon Megé located in New York has long been firmly established in the jewelry market as a source of magnificent jewelry, in which platinum and diamonds often sparkle being married together and attracting everyone’s eyes, but are...

06 may 2019

The technology of growing single-crystal diamonds has now become industrial in nature

It is believed that the reserves of natural diamonds will be exhausted by the middle of the century, and therefore production of synthetic diamonds is rapidly gaining relevance. According to Business Insider India’s estimates, the global synthetic diamond...

29 april 2019

De Beers only selling Elizabeth Bay Mine in Namibia, move to sustain operations beyond 2019

Namdeb Holdings, a 50/50 joint venture between the Namibian government and De Beers is not selling Daberas, Sendelingsdrift and Southern Coastal mines in the southern African country. It had been alleged that Namdeb was planning to close and offload...

22 april 2019

Intesa is ready to buy diamonds back from its customers

07 march 2019

Intesa Sanpaolo has already refunded money to 60% of its customers, who purchased diamonds as an investment, according to Reuters.
“Two years ago we informed 8,000 of our clients that we were available to buy back diamonds [they bought from us] and 60 percent decided to return the gems and get all their money back,” the agency quoted the company's CEO Carlo Messina as saying. 
“The remaining 40 percent have decided to keep the diamonds, but they know that we are committed to buying them back at the price they paid for them.”
An investigation into the bank’s connection with an alleged diamond fraud is currently underway.
The reports say that four Italian banks - Intesa, UniCredit, Paschi, BPM - sold its customers diamonds for the double of their market price. 
Intesa Sanpaolo is Italy’s largest retail bank. 

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg