International Diamond Laboratories (IDL) and Damas have launched attractively designed sealed packets of multiple loose diamonds aimed at the mid price range jewellery segment.

Peter Meeus, CEO of IDL presenting IDL certificate to Tamjid Abdullah, Deputy Managing Director, Damas.

The stones range in sizes from 0.08 to 25 point carats and the price starts from Dhs750 to Dhs15,000. The new packets will be available from select Damas stores in Dubai, Abu Dhabi and Sharjah, ahead of Eid from December 1, 2008 onwards.

Damas is the first retailer in the UAE to offer packets of multiple loose polished diamonds.

continue reading "IDL and Damas launch single packets of certified multiple loose diamonds ahead of Eid"

The UAE’s gold and jewellery sector does not have any payment problems or default, unlike the US or Europe because the local market has companies with sound fundamentals dealing with real assets, according to a leading Dubai jewellery house.

Talking to Emirates Business, Tawhid Abdullah, CEO of Damas, said: “Some exporters of gold and diamonds to the US may be facing defaults and payment difficulties due to the credit crunch. However, payment default is not taking place in the Dubai market because [here there are] respected and established companies.”

continue reading "No payment defaults in jewellery industry"

The Dubai Multi Commodities Centre said it received an “overwhelming response” to the inaugural Middle East-China Diamond and Jewellery Summit.

More than 500 diamond traders, retailers, and stakeholders of the jewelry industry have confirmed their participation for the summit, being held at the Atlantis Hotel, The Palm Jumeirah (pictured), Dubai, Nov. 8-9.

The summit has attracted tremendous attention from the key global diamond trade hubs, organizers said. These include 70 Chinese companies, more than 150 delegates from Europe and India, and more than 280 participants from the Middle East–including Saudi Arabia and the UAE.

continue reading "Middle East-China Summit Attracts Numbers, Names"