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The transfer of De Beers Diamond Trading Company (DTC) from London to Gaborone is well under way and couldn’t come sooner for Botswana. The move marks exciting times for the southern African nation and is set to be a catalyst for much-needed economic diversification and, hopefully, significant job creation.
It still feels like a new year, but we are deep enough into 2012 to have an initial understanding of where it is going, and it may not be all that good. Consumer demand looks positive, but it has its threats.
This column and many others in the world of journalism, often seeks to point out something that needs to be changed or corrected. This week, we want to commend a positive. Over the past few months, we have called on the diamond industry to do the right thing on issues of ethical behavior. In a sentence, […]
De Beers Keeps Prices Stable The Diamond Trading Company (DTC) February sight ended Wednesday with an estimated value of $600 million. The De Beers distribution unit kept prices stable with minor adjustments on specific items. The sight one year ago this month was estimated at $690 million.
In its most basic form, the role of a government is to serve the needs of a country’s population. It is responsible for providing infrastructures, an education system, health services and security to the people. To do so, it needs money. Money usually comes from the citizens of the country who provide funds to the […]
Once again, the U.S. rough diamond figures are out of whack. Of the $630.3 million worth of goods imported to the U.S., only $206.5 million remain there, less than a third of the goods – by value. The issue was discussed here a couple of times in the past, however last week the final figures for 2011 were published by the International […]
Prosecutors in Belgium put a trader on trial after a major police raid on his business, arrests in Israel as police investigate illegal financial activities at the diamond exchange, in India the government decides to battle round-tripping, and the U.S. State Department is talking with NGOs about how to change diamond trade regulations. Ladies and […]
“Can you imagine postal workers around the world being told to boycott mail from a certain country because of human rights abuses in that country?!” This is what a flabbergasted industry member asked me recently. His response reflects a growing sentiment in the middle section of the diamond pipeline, which includes rough diamond buyers, manufacturers […]
The times they are a-changin’,” Bob Dylan sang in 1964, and nearly 50 years later, that has not changed. There’s no doubt that the times are taking us in a new direction socially and culturally. We look around us and may say, “The times are not as they used to be,” and lament about how […]
Some Price, Assortment Adjustments The Diamond Trading Company (DTC) opened its first sight of 2012 with an estimated value of $650 million, as the De Beers distribution unit adjusted prices but changed the assortments presented.
The sudden decision by the Indian government to tax polished diamond imports has surprised many in the country’s diamond industry, although it should not have. For a number of years, the government and leaders of the industry warned against the practice of round-tripping – the multiple import and re-export of the same goods for the […]
It is obvious that a lot of thought and careful collection of information is behind the complaint Lazare Kaplan International (LKI) filed against KBC bank and Antwerp Diamond Bank (ADB) on December 23. If a guess could be made, there are many emotions in the case too. This is far from a typical heated business […]
