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Zimbabwe’s aims of becoming an economic giant on the back of proceeds from the sale of its diamond stockpiles seemed to have hit a major obstacle with the United States of America putting sanctions on two of its biggest diamond mining firms. The United States recently added the publicly held Mbada Diamonds and the state controlled Marange Resources to its list of companies against which sanctions have been imposed. The move to list these companies in the sanctions list is seen as the country making amends against the Kimberley Process’s decision that was taken earlier this year. Continue reading »

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Graff Diamonds’ bid to launch an IPO in Hong Kong is in full swing, and the latest development in the whole process is that the London based diamond retailer has taken on the services of four different banks for handling the IPO launch. The banks that have been roped in for the launch are all well known in the world. The banks chosen are Credit Suisse, Deutsche Bank, Goldman Sachs and Morgan Stanley. The four banks will be handling the USD 1 billion worth IPO which is due to be launched in the first half of next year i.e. 2012. Continue reading »

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The much touted auction of Elizabeth Taylor’s jewels has ended up breaking all records by raking in a whopping USD 116 million. The amount of money that the auction has been able to pull in is more than double the previous record for an auction of a single collection. Moreover, apart from the overall records, the auction has also managed to set new benchmarks for Indian jewels, colorless diamonds and even pearls. Continue reading »

India and Canada are all set to usher in a new era of bilateral ties and cooperation in the diamond sector on the basis of a recent Memorandum of Understanding signed by both the countries. While the Memorandum of Understanding could be said to be signed by the two countries, the representatives on the table were the Diamond Bourse of Canada which is Canada’s primary diamond exporting organization, and the Indo Canada Chamber of Commerce which is an organization of Indo Canadians aimed at increasing bilateral business ties between the two nations. Continue reading »

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Jesse James has sparked off another controversy related to his name as he is now asking his ex fiancé to return the engagement ring with which he proposed to her. There are any numbers of heartwarming stories in the media about engagement rings being lost and found miraculously or saving someone’s life, but there are also negative stories in which people are fighting over the expensive trinket. Continue reading »

There is nothing sadder than an individual going against all the vows of love and companionship. This is exactly what happened to Michelina Lewandowska when her partner decided to kill her and get rid of her because he needed some variety in terms of his partners. Fortunately, the engagement ring on the finger of Michelina Lewandowska ended up being truer to love than her partner by being the instrument of her escape. Continue reading »

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Rosie O’Donnell proposed to her partner Michelle Rounds last week but it is only now that the engagement ring has been revealed to the public. Continue reading »

Global Witness, a name that has become synonymous with protests against blood diamonds, has decided to pull out from the Kimberley Process on the back of the system deciding to allow the sale of diamonds from the Marange Mines in Zimbabwe. The decision to pull out from the Kimberley Process is particularly significant because Global Witness was one of the few human rights groups that sparked off a campaign against blood diamonds back in the 90s. Now that one of the most crucial players in the founding of the Kimberley Process has pulled out, the effectiveness of the whole system has been put to question. Continue reading »

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Kristin Cavallari celebrated getting engaged to Jay Cutler again by going for a small shopping spree in Los Angeles with her engagement ring distinctly visible, and announcing to everyone that she is engaged and very happy. The shopping spree with the engagement ring happened within a day of Kristin Cavallari and Jay Cutler announcing that they are engaged again. The engagement ring that Kristin Cavallari is flashing all over the town is an exquisite piece of jewelry that boasts of a 5.2 carat stone. Continue reading »

Zimbabwe is ready to take advantage of the recent lifting of Kimberley Process’s sanctions with a major auction of its diamond stockpiles. The auction that is to take place soon is estimated to fetch the country millions of dollars. Despite the fact that the actual value of the auction or the exact size of its stockpiles is not known, different estimates place it in the middle of approximately two million carats and 3.6 million carats. The diamond stockpile that is to go under the hammer is from the country’s highly controversial Marange Mines. Continue reading »