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Diamond News Archives

UK's Women's Jewellery Network Closes

Category: News Archives
Created: 05 August 2020
Hits: 489
August 05, 20 by John Jeffay
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(IDEX Online) -  The Women's Jewellery Network, launched in the UK three years ago in a bid to smash the industry's "glass ceiling", has closed with immediate effect.

It was founded by Victoria McKay, former chief operating officer of the London Diamond Bourse. It built up a following of thousands and an ambassador network covering many more countries, including Israel, Belgium, France, Brazil and Denmark.

 

Ms McKay (pictured) said changes in her work life meant she was no longer able to lead the WJN.

She was "heartbroken" at the difficult decision to close the members' networks and website, but said the WJN could only have survived by becoming a commercial concern that paid her and colleagues a living wage - something they didn't want.

In an open letter posted on the jewellerycut.com website, she laments the fact that there is still a long way to go in the battle against all forms of inequality.

"We have been campaigning about equality, leading with gender parity, for years," she writes. "And we have seen little movement. 

"In reality, the situation is that collectively jewellery industry leaders have not addressed issues around diversity and inclusion. Be that gender, race, sexuality or any other marginalised group. 

"The industry remains led by white men, with a notable presence of Asian and minority ethnic leaders elsewhere in the trade. Yet it's less welcoming to black people who strive for inclusion than it is to women."...

Read more from our friends at IDEX

Gold Ends Above $2,000 for the First Time in History as U.S. Dollar and Bond Yields Recede

Category: News Archives
Created: 04 August 2020
Hits: 611
Diamond Buyers Club
Gold futures power higher Tuesday, gathering momentum late in the session as government bond yields head lower and as the U.S. dollar’s recent rebound recedes somewhat, allowing the precious metal to make an assault on a record close above the $2,000 threshold.
...

Read more from our friends at Gold & Silver

The Fragile Recovery May Already Be Heading Into Reverse: Barron's

Category: News Archives
Created: 04 August 2020
Hits: 477
Diamond Buyers Club
Household spending had been rising in line with income growth. But that’s set to reverse as the job market stalls, the virus spreads, and the government prematurely removes needed support.
...

Read more from our friends at Gold & Silver

Dubai Halves Fees to Attract Diamond Businesses

Category: News Archives
Created: 04 August 2020
Hits: 640
August 04, 20 by John Jeffay
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(IDEX Online) - Dubai is halving business set-up fees to attract new diamond companies and offering 12-months' free membership its diamond exchange.

It launched the campaign by lighting up its message on the world's tallest building, the 830-meter high Burj Khalifa (pictured).

The emirate has built up a $25bn-a-year diamond trade in the last 30 years, capitalizing on low taxation and convenient location between Africa and India.

But like most diamond centers, it was forced to close by the COVID-19 pandemic and is still recovering.

"Right across the supply chain, the diamond industry is passing through a period of turbulence. For many, the change that will follow is seen as an unpredictable threat. But for Dubai, it is an opportunity," said Ahmed Bin Sulayem, executive chairman and chief executive of the Dubai Multi Commodities Centre free zone.

DMCC has also revealed its plan to help Dubai become a leading international trade hub for Laboratory Grown Diamonds (LGD) and coloured stones....

Read more from our friends at IDEX

Global Economy To Freeze Up, Here's Why - Mike Maloney

Category: News Archives
Created: 03 August 2020
Hits: 613
Diamond Buyers Club
“I am getting prepared for a freezing of the global economy, in which case there will be a period of time where credit cards don’t work…they’re going to be scrambling, trying to figure out what to do. Massive currency creation is the only thing they can do and that eventually ends in hyperinflation…” - Mike Maloney
...

Read more from our friends at Gold & Silver

  1. Some Clear Thinking on Gold at Its All-Time High
  2. US Manufacturing PMI "Worryingly Weak" As ISM Spikes To 16-Month Highs
  3. Lucapa Hopes to Reopen Mothae, Despite COVID-19
  4. Polished Diamond Price Index is Flat Again in July

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