As a struggling, licensed diamond manufacturer supporting implementation of the Diamonds Amendment Bill, I have to respond to new diamond-cutting laws turn back the clock (September 28).
The Dubai Diamond Exchange (DDE) announced the sales of its five rough diamond tenders this year to $66 million. The strong local and international response helped boost sales. In a statement, DDE said it had sold a total of 435,000 carats through the tenders. It has 80 new members who had signed up to trade this year, a 130% increase then last year. DDE acts as a facilitator for these tenders, and any member of DDE can conduct a tender, based on a minimum of $1 million worth of rough diamonds. The goods sold are from Canada, Russia and Africa.
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