Headlines

IDE Announces Registration Opening for International Diamond Week Feb 13-16

Registration has opened for the sixth International Diamond Week in Israel (IDWI), to be held from February 13 to 16, 2017, on the trading floor of the Israel Diamond Exchange (IDE).

The event, now in its fifth year, will be significantly expanded over previous editions.

Save the Date: 2017 Presidents Meeting Next February 5-8

The dates have been set for the 2017 Presidents Meeting, the biennial gathering of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA). It will take place in Mumbai from Sunday, February 5 to Wednesday, February 8, 2017.

The Presidents Meeting starts off the WFDB's year of celebrations as we mark the 70th anniversary of our organisation with a variety of celebrations and events.

India Will be 'Collaborative' KP Chair in 2018

Manoj Dwivedi, head of the Indian Delegation to the KP Plenary meeting and an official in the country's Department of Commerce, said India's approach as KP Chair in 2019 would be "collaborative, democratic and transparent".

India was elected as the Vice Chair for 2018 and Chair for 2019 at the KP Plenary meeting in Dubai last week.

KP Plenary Reaches Historic Agreement on Permanent 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.

Online Jeweler Blue Nile Bought For $500M by US Investor Group

Blue Nile Inc., the online diamond and jewelry retailer, has accepted an offer to be acquired and taken private by an investor group that includes Bain Capital Private Equity and Bow Street LLC for around $500 million in cash.

The offer price of $40.75 per share by the buyers on Monday, November 7, represented an almost 34 percent premium over Blue Nile's closing price on Friday.

Bin Sulayem Holds Talks on Diamond Issues With Top Mozambique Officials

The Kimberley Process (KP) Chair, Ahmed Bin Sulayem, has held talks with senior government and army officials in Mozambique as part of his efforts to expand dialogue with African countries on the rough diamond trade and strengthening the KP’s mandate.

Bin Sulayem met with President Filipe Nyusi, Prime Minister Carlos Agostinho do Rosário, the Permanent Secretary to the Minister of Culture and Tourism, Domingos Artur, and the Chief of Staff, Army and Defence Forces.

Auction Sales Launches 3rd Party Polished Diamonds B2B Pilot Program

De Beers' Auction Sales business will offer midstream diamond companies the opportunity to sell certain types of polished diamonds to other trade participants on its auction platform, the company said.

The new limited scope, business-to-business pilot is an extension of the service for rough diamonds that was launched earlier this year. It follows existing customer demand for an equivalent service for their polished diamonds. As with the third party rough diamond auction pilot, any seller wishing to use the service will need to comply with a range of ethical requirements.

Surat Units Start Closing Down for Diwali Holiday

Media reports from India said that many smaller and medium-size diamond firms in Surat had already started closing down for the country's close to three-week long Diwali holiday a week before the vacation was due to begin.

The Diwali vacation starts on October 30, with millions of workers across the country leaving their workplaces to spend the holiday with their families.