Claiming that internal diamond controls are not rocket science, UK's Global Witness said on Friday that existing technology could provide a solution to weak control systems, mainly in artisan mining areas.
Rosy Blue has cited potential in the Gulf Region to expect an increase in the demand for diamond jewellery during 2008, reports say. In dollar terms, Rosy Blue is targeting a sales figure of $250 million from $120 million in 2007, an increase of 108%. According to Chairman Harshad Mehta, such optimism is possible due to the higher oil prices and growth in tourism and disposable incomes. “We are extremely bullish about the diamond industry in the Gulf region, and particularly the United Arab Emirates,†Mehta told Reuters. “Dubai is the diamond destination of the region ... and it can compete with major diamond hubs,†he added.
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