As the covid situation in India worsens, the World Federation of Diamond Bourses (WFDB), through email and social channels, is asking diamond and jewelry industry members to donate to help their Indian colleagues and friends win the battle against the Virus. The campaign, Diamond Aid, organized with Bharat Diamond Bourse (BDB), will use the funds raised to purchase medical equipment and medication for hospitals in Surat and Mumbai.
Amidst the largest, global crisis in recent history and against the backdrop of turmoil in the industry as many diamond traders removed their stock from the Rapaport trading network, - in protest of the steep price drops published in Rapaport’s latest Price List (March 20) - the World Federation of Diamond Bourses has now announced it plans to establish a cross-bourse trading platform.
The World Federation of Diamond Bourses (WFDB) and the Korea Diamond Exchange (KDE) have signed a cooperation agreement to help with the development of the young bourse in South Korea. Signed on February 6, 2019, the agreement entails that the WFDB will assist with the promotion of the diamond business in South Korea, and will provide assistance to the KDE in lobbying the Korean government in matters that can enhance the diamond business.
The Federation of Belgian Diamond Bourses (FDBD), the umbrella organization for Antwerp's four diamond bourses, has elected Philippe Barsamian as president. Mr. Barsamian has been a member since 1974 of the Antwerp Diamond Club. He became a member of the ADC's board of directors in 1998, serving as managing director from 2000 to to 2002, and as vice-chairman since 2002. He has also been a member of the Federation of Belgian Diamond Bourses since 2006, and was a member of the Antwerp World Diamond Centre's Board of Directors from 2008 to 2014.
Diamond companies, especially the small and medium-sized firms who make up the bulk of our membership, cannot easily access financing. Diamond manufacturing and trading companies need to finance their operations, however with banks facing higher capital requirements, risk aversion and increased regulatory burden, the financing they make available to diamantaires has fallen significantly in recent years and that has meant reduced operational flexibility and increased vulnerability to market movements for diamond companies.
This afternoon, the Antwerp World Diamond Centre (AWDC) hosted a forum organized by the Federation of Belgian Diamond Bourses (FBDB) to tackle the issue of undisclosed synthetic diamonds and address the legal and technical aspects concerning the disclosure of synthetic and treated natural diamonds.
Media Release: The De Beers Group of Companies today announced that its Auction Sales business will launch a limited scope service pilot offering diamond businesses the opportunity to sell certain types of rough diamonds on its online auction platform. The service will only be available to those diamond businesses that adhere to the De Beers Auction Sales Rough Diamond Trading Standard.
The World Federation of Diamond Bourses unanimously elected Ernie Blom for a third consecutive two-year term as president during the recent World Diamond Congress in Dubai, while Israel Diamond Exchange president Yoram Dvash was elected as vice president, reports The Retail Jeweller - India. Blom said he was delighted with the debates and decisions taken at the biennial meeting of the WFDB and International Diamond Manufacturers Association (IDMA).
The World Federation of Diamond Bourses (WFDB) will launch its Know Your Customer initiative in May. The news was announced following the WFDB Asia Summit held in Seoul at the end of last month where the WFDB’s executive committee agreed on internal changes, as well as steps regarding increasing transparency in trading and generic marketing by the global diamond trade. The WFDB-supported Know Your Customer aims to increase transparency between the diamond industry and banks and regulators.
According to Southern Africa newspaper The Southern Times, the Minerals Marketing Corporation of Zimbabwe (MMCZ) is planning to set up a diamond bourse in Harare in 2016. Plans to set up the exchange have been endorsed by the World Federation of Diamond Bourses the article further states. An anonymous industry insider comments that the development of a diamond bourse would be beneficial to achieve better prices, increase transparency and attract foreign investors for the local diamond mining industry.
A private project with private investors may see a new diamond exchange established in Lisbon in two or three years. Project Manager Vitor Rita said a location is almost set near Lisbon's international airport, Rough & Polished reports. The project has performed a virtual debut on Facebook. According to Rita, the exchange will cover 30,000 square meters for the trading of rough and polished diamonds, gold and jewelry. It would also host diamond cutting companies, labs, gemology schools, security companies, banks, and other service providers.
The Diamond Dealers Club of New York has re-elected Reuven Kaufman as its president, along with officers and board members.
In a press release issued by the World Federation of Diamond Bourses, President Ernie Blom states the World Diamond Mark Foundation will present its marketing plan to the leaders of all parts of the diamond industry, including the mining companies at the Presidents’ Meeting in Tel Aviv later this month. "I am looking forward to meeting some of the representatives of the mining firms," said Blom. "It is critical that the diamond firms are involved in the development of the diamond sector and address the important issues that face the industry.", Blom said.
The World Federation of Diamond Bourses, based in Antwerp and coordinating over 30 diamond bourses worldwide, is looking to hire a "young, dynamic, driven and confident" executive director to manage and drive future projects of the organization. The WFDB explained that the position will entail daily conversations, planning and coordination with some of the largest international conglomerates and organizations within the jewelry, mining and luxury goods industries, as well as high profile government officials.
The presidents of World Federation of Diamond Bourses- (WFDB-) affiliated exchanges worldwide are making preparations ahead of the 2015 Presidents Meeting, which the federation believes will be one of the most important assemblies of its kind ever held, in light of the issues facing the global diamond trade. The bi-annual meeting would tackle the shortage of industry financing and declining profitability – “undoubtedly” the most pressing issues in the diamond industry, asserted WFDB president Ernie Blom.
The London Diamond Bourse (LDB) is to hold its first open day on February 23 aimed at creating business for members by enabling visitors to network and simply to see what the LDB has to offer, from small diamonds to colored gemstones, watches, courier services, and trade insurers.
Having boycotted the World Diamond Council’s annual meeting, which took place in Antwerp in October, the WFDB and CIBJO and are back to “…pled [ging] our continuous and full support to the WDC and its objectives.”