ALROSA's Supervisory Board Approves Acquisition of Smolensk-Based Kristall

At its meeting on September 24, the ALROSA Supervisory Board approved the acquisition of a 100% stake in Joint-Stock Company "Production Corporation "Kristall" from the Russian Federation represented by the Federal Agency for State Property Management (Rosimushchestvo) on the terms set forth in the decree of the Russian Government.

According to the previously approved Russian government decree, the value of the 100% equity interest in Kristall was determined on the basis of an independent appraiser's report at RUB 1,886 million.

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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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WFDB 2019 Presidents Meeting

With the 2019 Presidents Meeting coming up in Dubai in September, the World Federation of Diamond Bourses held an Executive Committee Meeting at the Israel Diamond Exchange on Monday to prepare topics for further discussion.

We debated a wide variety of subjects vital to the industry, as well as moves to further raise the international standing of the WFDB. The Executive Committee also discussed the important subjects of synthetic diamonds and the state of the diamond trade globally.

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