Kimberley Process reforms running in circles - Civil Society

The Kimberley Process Civil Society Coalition (KPCSC) has slammed the diamond watchdog for failing to come up with tangible reforms, saying it is just running in circles.

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Scarselli: Authentia is much ahead of other blockchain platforms for diamond traceability

Authentia.io, which offers the diamond industry's first legally recognised protocol on public blockchains, providing the most comprehensive solution for diamond origin and authenticity, is arguably ahead of all other blockchain platforms, according...

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Record-breaking diamond for Russia’s electronics industry

The purest diamonds, containing only carbon, are extremely rare in nature, just 2 percent of 100 diamonds mined. The rest of the natural diamonds contain impurities, mainly nitrogen, which complicates their use in electronics.

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UK Retail Jewelry Sales Being Hit by Social And Economic Changes

UK jewelry consumer habits are changing, with a sharp decrease in the number of hallmarked items and a transformation of town centers, according to UK jewelry retailer John Henn who spoke about the issue at the annual Congress of CIBJO, the World Jewellery...

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Fura Gems to Hold Two Colombian Emerald Auctions

Dubai-based leading colored gemstone miner FURA Gems has announced that it will auction rough Colombian emeralds in late November.

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Chinese and Indian Consumers Want Different Things From Luxury

12 march 2018
(Jing Daily) - “The world is changing, the economy is changing, the geography of luxury is changing,” said François Le Troquer in 2012, back when he was managing director of Cartier UK. The comment came at the official launch of a Cartier short film in which the Cartier panther travels across China and India, big developing economies whose luxury markets have since evolved in different directions. India and China opened their doors to foreign retail in the late 20th century and both countries slapped a high import duty and tax on luxury goods, making the products much costlier to buy domestically.  While in the last three decades, Chinese luxury sales have risen to occupy the number one spot worldwide at 32 percent, India lags behind, one of the last big frontiers with vastly untapped potential for luxury consumption. Currently just seven percent of the Chinese luxury market, the Indian luxury market is growing at a Compound Annual Growth Rate (CAGR) of 25 percent. The country has added around 500 new ultra high-net-worth individuals (those with investable assets of at least $30 million excluding personal assets and personal property) annually over the past decade, and over the next decade that number will double to approximately 1,000 per year. Undoubtedly both countries’ luxury markets and broader economies are at different stages, contributing to different perceptions and attitudes towards luxury. Here are four key differences.