Headlines

ICICI Bank Closing Antwerp Diamond Branch by March 29

India’s ICICI Bank is withdrawing from diamond trade financing in Antwerp after more than 12 years of operations in the Belgian diamond center.

The bank has asked clients to close their accounts before the end of February as ICICI Bank UK PLC will be shutting down in the city on March 29.

Israel’s Diamond Exchange President Yoram Dvash Cautiously Optimistic About 2019

Israel’s net polished exports stabilized in 2018, totaling $4.48 billion, according to figures published by the Diamond, Gemstones and Jewelry Administration of the Israeli Ministry of the Economy.

Net polished diamond imports totaled $3.04 billion, while net rough diamond exports stood at $2.25 billion, and net rough imports totaled $2.66 billion.

DPA Appoints Kristina Buckley Kayel As N. America Managing Director

The Diamond Producers Association (DPA), an international alliance of the world's leading diamond mining companies, has appointed Kristina Buckley Kayel as Managing Director of its North American division.

Synthetic Diamond Maker Scio Diamond Bought By Adamas One Corp

Scio Diamond's assets are being bought by a Nevada company called Adamas One Corp.

According to the deal between the firms, Adamas will pay $3.3 million to take care of the lab-grown diamond maker's secured debt over a period of 18 months.

Dubai Diamond Exchange Joins GJEPC’s MyKYCBank Platform

The Dubai Diamond Exchange (DDE) is to join the MyKYCBank platform of India's Gem & Jewellery Export Promotion Council, the two organizations announced.

Executive Chairman of DMCC and DDE Chairman Ahmed Bin Sulayem and GJEPC Chairman Pramod Kumar Agrawal signed the agreement which enables DMCC members trading in diamonds, gold and precious stones to join the MyKYCBank platform.

Kristall's CEO Maxim Shkadov Leaving To Manage ALROSA Merger

Maxim Shkadov, the Director General of Russia's Kristall (Smolensk), the largest diamond manufacturer in Russia, is leaving the company to join ALROSA.

He will be involved "in the issues of integration of ALROSA and Kristall, the two largest Russian enterprises in the field of production and manufacturing of diamonds," Kristall said in a statement.

Motivated Board Keeps Diamond Club West Coast Punching Above Its Weight

One of the WFDB's most active diamond bourses, particularly in light of the number of its members, is the Diamond Club West Coast Inc in Los Angeles.

Club President Moshe Salem, Co-Vice-President Mervyn Hahn, and board members are rightly proud of the wide range of activities the Club holds on a regular basis, along with a dynamic weekly newsletter.

Global Jewelry Sales Rose 4% In The Third Quarter, Says ALROSA

ALROSA, the world's leading diamond producer by volume, reported an increase in global jewelry sales 4% overall in the third quarter of 2018 – mostly due to a rise in sales in the United States.

There was a 4% sales increase in Q3 compared to the same period last year in North America, the largest diamond jewelry market, the miner said.