Government
DMCC: Diamond Industry Needs New Narrative, Rebrand To Secure Future
DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has published a thought leadership report entitled, ‘Diamonds Changing Forever’.
The report is available in Arabic and English, and can be downloaded online here: https://www.dmcc.ae/thought-leadership-diamonds
KP Plenary Reaches Historic Agreement on Permenent Secretariat, NGO Fund
KP Chair Ahmed Bin Sulayem brought a close to the KP Plenary that took place in Dubai between November 13 and 17, with key decisions on the KP Chair’s ideas to establish a Permanent Secretariat and to set up a common fund for NGOs.
The event was attended by over 300 delegates from around the world including governments, industry and a group of civil society organizations, the organizers reported.
Indian Jewelers Call Off Strike, Agree on Panel to Look Into Tax Proposal
India's gold and jewelry markets began re-opening on Monday after traders ended an almost three-week strike.
The industrial action caused huge revenue losses for businesses, while the government lost taxes of hundreds of millions of dollars.
The strike aimed to lead the government to repeal a 1% excise duty on gold and diamond jewelry that was proposed in the 2016-17 budget.
Economists Want A 'Second Economic Transformation' in Botswana
Two economists have urged Botswana to undergo a second economic transformation. In a report compiled by Econsult Botswana, economists Dr Keith Jefferies and Sethunya Sejoe warned that diamond mining is unlikely to drive economic growth in future, but rather a foundation for current economic activity and income levels.
Strong Results From Argyle Pink Diamonds Tender, Says Rio Tinto
Rio Tinto’s 2015 Pink Diamonds Tender collection of 65 rare pink and red diamonds from its Argyle diamond mine produced excellent results "reflecting global demand and sustained price growth," the firm said.
Achieving the highest average price per carat since the tender began in 1984, the tender continued its double-digit price growth trajectory.
Zimbabwe Making Chinese Yuan Legal Currency
Zimbabwe plans to make the Chinese yuan legal tender in the African country in return for Beijing agreeing to cancel $40 million in debts.
Finance Minister Patrick Chinamasa said the decision follows Zimbabwe's move to increase trade with China.
Turkish Diamond Jewelers, Jewelry Wholesalers And Manufacturers to Visit Antwerp
During the visit, a delegation of Turkish diamond jewelers, jewelry wholesalers and manufacturers will visit Antwerp.
AWDC said the visit will enable local traders to expand their business contacts with those in Turkey.
Record Figures Confirm Leadership Of Antwerp in Diamond Industry
India's GJF Makes Pre-Budget Proposals to Boost Jewelry Trade
The All India Gems and Jewellery Trade Federation (GJF) has asked the government to reduce import duty on gold to 2% from its current level of 10% in order to protect the domestic industry and stop smuggling.
RJC To Hold Training Session On Human Rights
The Responsible Jewellery Council (RJC) is inviting members of the industry to a training session hosted by the RJC Human Rights Exchange on 25 November in London on ‘Executing Human Rights Due Diligence in jewelry business relationships - down and upstream.’
The training will be delivered by Sandra Atler, an Accredited RJC Topic Expert with a background in International Human Rights.