Diamond News Archives
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Economic forecaster Lakshman Achuthan is detecting a stark disconnect between Wall Street and the economy.
As stocks[1] continue to hit new highs, he's worried investors are wrongly assuming an economic revival is underway.
"The actual data itself is just decelerating pretty hard actually," the Economic Cycle Research Institute co-founder told CNBC's "Trading Nation[2]" on Monday. "I don't think we can remove recession risk from the table. It's still out there as long as you're slowing."
Achuthan sees the downtrend particularly affecting two key parts of the economy: retail sales[3] and industrial production. He highlights the issue in this chart:
"On the manufacturing side, you have IP [industrial production] at a 3½-year low. It's deeply negative," he said. "On the retail sales front, you're having deceleration."
Achuthan, a former self-proclaimed super bull, began noticing slowdown signs in early 2018[4].
"All the hopes are the consumer is somehow going to rev up, and that's coinciding with the holiday season here," said Achuthan. "But when we look at all of our leading indexes that anticipate turning points in the U.S. economy[5], it's not there yet. So, we have more slowdown to go."
Yet, stocks[6] are firing on all cylinders. But don't let that fool you, he says.
"A couple of months before the Great Recession, markets hit an all-time high. In 1990, right when that recession was starting, markets hit an all-time high," he noted. "In '01, they actually hit a high after the recession started. So, the market could be a little off on recession timing."
For investors who have to be in the stock market, he recommends staying defensive or...
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(IDEX Online) - Stephane Fischler, President of the World Diamond Council (WDC), told government representatives at the 2019 Kimberley Process (KP) Plenary Meeting that the future of the process depends on them.
During the address at the start of the Plenary Meeting in New Delhi, India, Fischer said that with the end of a three-year reform and review cycle, governments hold the future of the KP in their hands.
"Lives and livelihoods of individuals who rely on the work that we do together will be impacted by both your actions and inaction," he said.
"The WDC has been candid in what we would like to see happen, and it is that the conflict diamonds definition should incorporate all of the most severe instances of violence, whether they be carried out by rebel forces, private or state-run security forces, or criminal elements."
He also said that it was in the collective interest of all participants in the KP that all KP certified rough diamonds meet the standards and expectations of the market.
"Within our area of influence we have a duty to care, and to consider long-term solutions that will protect our most vulnerable stakeholders. This is what we need to do together in New Delhi."
In 2018, the WDC Board of Directors approved a new System of Warranties, which exceeds the scope of the KP in its inclusion of universally accepted principles on human and labour rights, AML and anti corruption....
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Global Debt To Hit All Time High $255 Trillion, 330% Of World GDP | Zero Hedge- Category: News Archives
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Trump Says "Everything Was Discussed" Including "Negative Rates" In Unscheduled Monday Meeting With Chair Powell | Zero Hedge- Category: News Archives
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(IDEX Online) - With its publication in Arabic, "The Diamond Terminology Guideline" is now available in 10 languages. The latest version, which was published by the DMCC, ensures unity in diamond terminology across Arabic-speaking countries.
The guideline sets a universal standard for the diamond and jewelry trade when communicating about diamonds and laboratory-grown diamonds. It is also designed to eliminate confusion among industry bodies, organisations and traders around the origins of a specific stone.
"This is a positive and inclusive step forward for the diamond industry," said Ahmed Bin Sulayem, executive chairman and CEO of the DMCC.
"The diamond trade in Arabic-speaking nations is both dynamic and growing, and it was important for DMCC to ensure that this standardized terminology was available in Arabic. Produced in Dubai, the publication also points to the 'differentiation, detection and disclosure' policy that underpins the diamond trade in this city," he said.
The Guideline is built on two internationally recognized standards: the ISO 18323 Standard ("Jewellery - Consumer confidence in the diamond industry") and the CIBJO Diamond Blue Book....