Charges Dropped in PNB Fraud Case, Modi Still Prime Accused
June 14, 26
Corruption charges against bank staff in the $1.85 billion PNB fraud have been dropped, after the Central Bureau of Investigation conceded there was no evidence to support them. But Nirav Modi, the fugitive diamantaire currently being held in ... Read More...
"Two Matildas" Live Sale Raises Over $17m
June 14, 26Lots from a vast family-owned jewelry collection - including many Faberge, Cartier and Tiffany items - raised $17.3 million at the live section of a Christie's New York auction. Ninety-four lots from The Stream Family Collection were sold on 10 June. A further... Read More...
Business Rescue Plan for Finsch Mine
June 11, 26Petra Diamonds says business rescue practitioners (BRPs) will now see if they can find a way to save the Finsch mine, in South Africa. They've taken custodianship of the beleaguered mine and will draw up a revised business plan that must be approved ... Read More...
Tiffany & Co Re-opens Stores after $6m Fine
June 11, 26Tiffany & Co has been allowed to re-open three stores in Indonesia, after paying a $6.1 million fine for alleged import violations. They were closed in February by customs authorities pending checks on whether the company had paid levies on imported goods.... Read More...
Russia Insists on "Synthetic" Label for Lab Growns
June 10, 26The Russian government has announced new rules requiring lab growns to be labelled as "synthetic" so that consumers don't mistake them for natural stones. It does not list "lab grown" or any variant with "lab" or "laboratory" as being acceptable.... Read More...
Memo by John Jeffay
June 11One day, two diamond mine closures. News that Petra was suspending operations at its Finsch mine, in South Africa, and that Storm Mountain Diamonds was doing likewise at Kao, in Lesotho, broke on the same day, Friday 29 May. Petra's suspension... Read More...