The International Institute of Diamond Grading & Research (IIDGR), part of De Beers Group, today announced it will provide diamond verification services to Singapore Diamond Mint Company’s (SDM) new investment-grade diamond product, Diamond Bullion, listed on the Singapore Diamond Investment Exchange (SDiX).
Singapore Diamond Investment Exchange (SDiX), the world's first commodity exchange in physically settled diamonds, has announced a partnership with Kynetix, a physical commodity digitisation expert, and Everledger, supplier of blockchain and distributed ledger infrastructure, to complete the first part of a Proof-Of-Concept of a blockchain-based authentication and secure record-keeping service for trading diamonds on a global commodity exchange. The technology is designed to enable holders of diamonds wi
Singapore’s Sarine Technologies announced that former CEO of De Beers Diamond Trading Company (DTC) Varda Shine is to join the Board of Directors as an independent director. Shine’s position is subject to approval at Sarine’s annual general meeting to be held on April 25.
The International Institute of Diamond Grading & Research (IIDGR), part of The De Beers Group of Companies, announced its first retail partnership in Asia for its generic polished diamond grading services. The partnership is with the Soo Kee Group in Singapore, which formally launches in February for the retailer’s bridal brand, Love & Co., for its Lovemarque diamond collection.
A new exchange offering diamonds as an asset class in Singapore with the aim of creating an investment market and benchmark price for the precious stones recorded a relatively low turnover in the first half of this month. Singapore Diamond Investment Exchange Pte. Ltd. (SDiX) posted turnover of just under $3.5 million in the first two weeks of August, according to data provided by SDiX, up from $1 million in May, the first month of trading.
"Diamonds on screen are trading at a significant discount to the normal Rappaport Benchmark Price list that current dealers trade against on a daily basis."
Daniel Fowler, on first client trades going through the Singapore Diamond Investment Exchange.
The fourth edition of the Singapore Jewelry and Gem Fair will take place at the Marina Bay Sands Expo and Convention Center from November 4-7. More than 200 exhibitors are expected to take part, while jewelers from Austria, Belgium, Germany, Hong Kong, India, Italy, Japan, Switzerland, Taiwan, Thailand, USA and Singapore and elsewhere will attend. In 2015, the fair attracted around 10,000 buyers, with reported onsite sales of more than $16 million, Idex Online reported. Singapore is a significant high-end jewelry center.
The Singapore Diamond Investment Exchange (SDiX), the world's first and only commodity exchange trading in physically settled diamonds, is going live from Thursday. Once business takes off at the exchange, it will be portal-based and with transparent pricing. This could also bring investors into diamonds. All stones traded on SDiX are Gemological Institute of America (GIA)-graded and buyers of single stones can examine certificates directly via the platform, according to the report.
Customers and staff of a company called Asia Fine Diamonds (AFD) are up in arms after the so-called investment firm went out of business owing money, Singapore's Straits Times newspaper reported. A report cites a client, Stephen Yeo, who invested $17,785 in a 0.21-carat round cut diamond - described as "fancy intense purplish pink" - from AFD. He never laid hands on it. Meanwhile, an AFD employee said that about 20 sales, telemarketing and administrative staff have not been paid for about two months, with the office closing down in January.
Singapore-based securities firm and investment bank UOB Kay Hian (the stockbroking arm of United Overseas Bank Ltd) has joined the Singapore Diamond Investment Exchange (SDiX), the world's first and only commodity exchange trading in physically settled diamonds, as its pioneer broker, writes The Business Times. This means UOB Kay Hian will be able to offer its accredited investors the chance to invest in diamonds as an asset class. Its affiliates in Hong Kong, Thailand, Malaysia and Indonesia will have the same access.
De Beers' Element Six Technologies Ltd subsidiary has today (Tuesday) begun legal action in Singapore against IIa Technologies Pte. Ltd alleging infringement of its patents concerning synthetic diamond material. Element Six believes that certain of its patents for proprietary synthetic diamond products and their method of manufacture have been infringed and the legal action aims to defend its intellectual property rights and business interests, the miner said in a statement. IIa Technologies claims to run the world's largest diamond-growing facility.
Gemstone miner Gemfields reported revenues of $28.8 million at its fifth auction of rough rubies and corundum from the Montepuez mine in Mozambique at an average price of $317.92 per carat. The Singapore sale, held December 14 to 18, saw 36 companies placing bids with 45 of the 49 lots offered being sold, The five auctions of Montepuez goods held since June 2014 have generated $150.8 million in aggregate revenues. The miner's next auction will be of predominantly higher quality emerald from the Kagem mine in Zambia and is due to take place next March.
The 3rd edition of the Singapore Jewellery & Gem Fair will feature more than 200 exhibitors this year. The show, which runs from October 22 to 25 at the Sands Expo and Convention Centre, aims to take advantage of Singapore's high levels of wealth and demand for diamond and precious gemstone jewelry and high-ticket watches.
Gemfields said a sale of emeralds and amethyst in Singapore met expectations, with 37 companies placing bids in the miner's first auction of its financial year. The auction followed seven successive emerald auctions held in Lusaka, and marked the return of Zambian emerald auctions to a wider international market.
The third edition of the Singapore Jewellery & Gem Fair will see more than 200 exhibitors from 28 countries taking part. Last year’s edition of the show attracted just under 10,000 visitors. The show's, organizers, a unit of UBM Asia, said Singapore is the third-wealthiest nation in the world based on Gross Domestic Product (GDP) and also has 105,000 high-net-worth individuals (HNWIs) and is poised to record the world’s highest growth of ultra-high-net-worth individuals (UHNWIs) in the next decade.
The Guild of Storytellers (GoS), a startup company, wants to cast all of favourite personal stories in stone. Literally. Founded last December by Singaporean Jason Ho, GoS designs and makes bespoke jewellery - from rings and pendants to sceptres and even crowns - to tell a story. "Memories are precious, and I would like to use something more tangible to remember our stories," the 34-year-old founder told The Business Times.