ALROSA: Worldwide Jewelry Sales Increased by 4% in 2018   

Global sales of diamond jewelry grew by 4% in 2018 compared with last year and amounted to $85.9 billion. The growth rate of the global jewelry market was lower than in 2017 (+5%), mainly as a result of a slowdown in key consumption markets in the second half of 2018.

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South Korean Diamond Exchange Persuades Govt To Abolish Consumption Tax on Diamonds

Following five years of talks and intensive work by the Korea Diamond Exchange (KDE), the South Korean government has slashed taxes on loose diamonds, says exchange President Nam Chang-Soo.

The individual consumption tax was introduced in 1976 and abolished in December 2018 in time for the new year, he explained.

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Open letter regarding over grading certification

The diamond industry is facing a serious challenge to its integrity which could lead to major consumer confidence problems, if diamonds are sold with overstated certification. I want to stress that this is an industry problem that must be resolved by the industry in order to retain consumer confidence in our product and sustain and develop the international diamond trade.

Recently, awareness was raised regarding problems existing within a specific laboratory group and the overstating of grading from certain laboratories in this group, which has led to the exclusion of said laboratories certificates by the Rapaport Group.

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