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.
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.
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.
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.
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.
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.
The Second Zimbabwe Diamond Conference to take place next month will present the progress made by the country's diamond industry following its admission as a member of the Kimberley Process Certification Scheme in 2011. The importance to the global diamond industry of the developing Zimbabwe diamond trade is shown by the planned attendance of leading African mines ministers and diamond industry leaders.
India's Gem & Jewellery Export Promotion Council (GJEPC) has submitted proposals to the Ministry of Commerce & Industry with one-year and three-year action plans for the expansion of the gem and jewelry trade.