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Antwerp Reveals Very Little About Proposed Carat Tax
Over the course of the past couple of months, many theories have emerged about Belgium's pending "Carat Tax." If approved by the European Commission, this new fiscal law would tax diamond firms' turnover at 0.55...
Financial-Legal Jun 11, 2015 Marc Goldstein
Banks Need More Transparency From the Diamond Industry
Antwerp World Diamond Centre's (AWDC) keynote speaker, Herman Van Rompuy, the former European president, told industry attendees at a financing seminar on March 27 that no one can bypass market rules anymore. And this advice...
Financial-Legal Mar 30, 2015 Marc Goldstein
Omega Whistleblower Appeals Plea Deal in Antwerp
In the wake of the record $2.7 billion (EUR 2.28 billion) case that involved, mainly, Omega Diamonds for allegedly importing diamonds from the Democratic Republic of the Congo and Angola between 2003 and...
Financial-Legal Jan 07, 2015 Marc Goldstein
HSBC and Its Antwerp Diamantaire Clients Face Long Investigation
On November 17, the Belgian justice department indicted HSBC Private Bank SA, the Swiss subsidiary of HSBC Holdings, for aggravated and organized fiscal fraud, offering illegal financial services and for money laundering....
Financial-Legal Nov 26, 2014 Marc Goldstein
Antwerp Beurs Voor Diamanthandel
Antwerp Trade Fair Attendees Laud Gathering, Question Timing
The third edition of ''Antwerp Meets Antwerp,'' hosted by the Beurs voor Diamanthandel for Antwerp's diamond manufacturers and traders, seemed to run on cruise control this week. Feedback from attendees suggested that the event...
Manufacturing Feb 28, 2014 Marc Goldstein
kimberley process
Report Places Omega Diamond Settlement Into Question
A new report has cast the Omega Diamonds settlement in an uncertain light, although the case had ostensibly concluded with the company agreeing to pay a settlement of $218.7 million (EUR 160 million) for unpaid taxes...
Financial-Legal Jan 13, 2014 Marc Goldstein
Firm to Sue Belgium Over Decreased Assessment of Seized Diamonds
Belgian firm Lion’s Diamond is suing the state because there could be either fraud or malevolence --or worse-- involving inventory that was seized in 2004 and recently returned. De Tijd referred to the charges as ''a bomb''...
Financial-Legal Dec 10, 2013 Marc Goldstein
Fighting Fiscal FraudThe opening of a tax fraud trial in which Antwerp-based diamond company Omega Diamonds is facing potential fines of approximately $6 billion, originally set for September 12, has been rescheduled for November 7. Belgian Customs...
Fair Trade Oct 01, 2013 Marc Goldstein
Changing the Rules The Antwerp diamond sector needs to adopt new fiscal rules and enhance its social status to compete successfully on a global scale, according to Didier Reynders, the Belgian deputy prime minister and minister of foreign affairs. A major Flemish newspaper De Morgen reported on July 16 that...
Polished Markets Sep 04, 2013 Marc Goldstein
Beware Tiger KidnappersThe Antwerp World Diamond Centre Security Office (AWDC SO), in collaboration with the local police of Antwerp, has launched a tailor-made integrated anti-tiger kidnapping program for the Antwerp diamond industry. According to AWDC, the primary objective of the program is to explain and to assist in implementing...
Polished Markets Aug 01, 2013 Marc Goldstein
AWDC Tender Facility Open For BusinessIn June, for the first time ever, a major producer, Arcos Belgium, was using the Antwerp World Diamond Center’s (AWDC) independent Tender Facility. “We consider Antwerp as the hub for diamonds, because whatever goods you have for...
Polished Markets Jul 02, 2013 Marc Goldstein
SHANGHAI BOUND BY DIAMONDSThe Antwerp World Diamond Centre (AWDC) hosted a country pavilion at the Shanghai Jewelry show from May 9 to 13 that was attended by 12 Antwerp-based diamond companies. It was Antwerp’s first appearance at the show and attendees said the reason the city never participated before is because...
Manufacturing May 31, 2013 Marc Goldstein
Diamantaires Named in Offshore InquiryThe Antwerp diamond industry was convulsed with rumors in April after a Belgian newspaper published the first in a series of reports on individual holdings in offshore investment companies, commonly referred to as tax havens because they reportedly are used by the wealthy to hide assets and avoid...
Financial-Legal Apr 30, 2013 Marc Goldstein
Strengthening SecurityIs there such a thing as a coincidence? If so, Antwerp had a remarkable one on February 18, 2013. On that day, a group of well-trained, well-equipped and extremely well-informed armed thieves managed to steal approximately $50 million worth of rough and polished diamonds from the cargo hold of an airliner awaiting...
Polished Markets Apr 01, 2013 Marc Goldstein
Veken mag
Moving to the Next Level
Iris Van der Veken A four-person panel and the networking discussion at the second session of the Antwerp Diamond Academy, held January 30 in Antwerp, focused on sustainability. The conference was organized by the Antwerp Chamber of Commerce,...
Marketing Mar 17, 2013 Marc Goldstein
A Must-Go Show for DiamondsThe tone was clear from the moment one entered the Antwerp Diamond Trade Fair (ADTF) premises. On the right side was the bright, well-lit atmosphere of the main hall of the Antwerp Diamond Bourse and on the left side were the...
Polished Markets Feb 26, 2013 Marc Goldstein
AWDC Commissions Bain StudyFor the second consecutive year, the Antwerp World Diamond Centre (AWDC) hired Bain & Company, an international management consulting firm, to prepare a report on the growth of the global diamond industry. The purpose of the 82-page research report is to supply the industry with...
Polished Markets Feb 01, 2013 Marc Goldstein
Banking’s New Order
Erik A. Jens Erik A. Jens was appointed chief executive officer (CEO) of ABN AMRO International Diamond & Jewelry Group (ID&JG) on February 1, 2012. He succeeded Victor van der Kwast, who had been CEO since 2007. Globally, ABN AMRO is the leading lender to the diamond industry....
Financial-Legal Feb 01, 2013 Marc Goldstein
U.S. Retail
2013: More of the Same ExpectedThe beginning of a new year is always a time for optimism, regardless of how the previous 12 months have gone. Right now, retailers are grateful to have the rockiness and unpredictability of 2012 behind them. Looking ahead, everyone would like to see more stability,...
Polished Markets Feb 01, 2013 Lara Ewen
Antwerp Beurs Voor Diamanthandel
Antwerp Fair Exhibitors Report Ready Buyers
The trading halls of the 105-year-old Antwerp Diamond Bourse and the more senior Antwerp Diamond Club opened their doors this week to host an invitation-only diamond trade fair. Organizers of the Antwerp Diamond Trade...
Polished Markets Jan 28, 2013 Marc Goldstein
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