Diamond News Archives

ABN AMRO published its report with the bank’s results for the first quarter of 2019. The report makes no mention whatsoever about the diamond, gem and jewelry sector.

Following is an excerpt from the message^[1] by Kees van Dijkhuizen, CEO of ABN AMRO Group:

"“We are building a future-proof bank through continued Innovation & Technology (I&T) improvements supported by product and process rationalisation and optimisation. As a result, we have been able to further standardise products while maintaining strong cost and pricing discipline. Products will be more modular to ensure a tailor-made experience. For instance, we have reduced the number of consumer lending products and Alfam, part of Retail Banking, now processes all consumer loans fully straight-through. Acceleration of our Client Due Diligence remediation programmes at Commercial Banking and ICS is progressing.

Strict compliance is our licence to operate, and we remain vigilant in detecting financial crime. We continue to refocus our businesses.

In Private Banking, we have started integrating the Belgium acquisition, and the announced sale of our activities in the Channel Islands will conclude our divestments in this business. The refocus of Corporate & Institutional Banking (CIB) is progressing well. We are pleased to see that the targeted EUR 5 billion reduction of risk-weighted assets… has largely been delivered."

...

References

1. ^{^} message (www.abnamro.com)

The Dubai Multi Commodities Centre and the China Gems and Jade Exchange signed a memorandum of understanding to create new trading opportunities between the United Arab Emirates and China.

In a press release, the parties explained that the idea is to connect buyers and sellers of gemstones and jade from the two countries.

"Additionally, the collaboration will see both parties promote ethical and responsible business practices to their members," the media statement reads.

This is not the first MoU that the DMCC signs with the Asian giant. Prior to this, the group engaged with the China Council for the Promotion of International Trade.

According to the Dubai Multi Commodities Centre, the signing of these agreements is also aimed at emphasizing the group's support to the strategy to reignite the ‘Dubai Silk Road,' which was outlined in the 'Fifty-Year Charter' released earlier this year by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE.

The post UAE and China to strengthen gems and jade bilateral trade appeared first on MINING.com....

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References

1. ^{^} Skip to main content (www.zerohedge.com)

DMCC, the world's leading Free Zone for commodities trade and enterprise signed a Memorandum of Understanding with the China Gems and Jade Exchange (CGJE), creating a strategic alliance with China's official trading platform for gemstones and jade.

Feryal Ahmadi, Chief Operating Officer, DMCC, and Mr. Yuk Chan, Co-Founder and Executive Vice President, CGJE, signed the agreement during a high-level official trade visit of the Shanghai Municipal Government to the United Arab Emirates (UAE). The signing ceremony was attended by H.E. Mr. Xu Kunlin, the Vice Mayor of Shanghai and a number of senior representatives from the Shanghai Municipal Government.

The partnership is set to create new trading opportunities between the UAE and China by connecting buyers and sellers of gemstones and jade from the two countries. Additionally, the collaboration will see both parties promote ethical and responsible business practices to their members.

"We are thrilled that the China Gems and Jade Exchange has chosen DMCC as their partner in the region, which reiterates our position as a leading and trusted precious stones trading platform. This agreement is set to boost our existing and strong economic ties with the Chinese business community. It also forms an integral part of DMCC’s strategy to attract, facilitate and drive new trade flows through Dubai," said Ahmadi....