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Modi denied bail in fraud case

The 48-year-old Modi, who denies the charges, faces the possibility of extradition to India where Prime Minister Narendra Modi (no relation) is under pressure to take a firm stance on the case

Rare blue diamonds may be Earth’s deepest secret

WASHINGTON: The Hope Diamond, a rare blue diamond that is one of the world’s most famous jewels, has had a complicated history, passing through the hands of monarchs and bankers and heiresses and thieves before landing for all to see at a Washington museum. The geological history of blue diamonds is even more complex, according to research published on Wednesday examining these exceptionally scarce and valuable gems. Scientists analyzed 46 blue diamonds, including one from South Africa that sold for $25 million in…

Diamonds – the buried treasures of Azad Kashmir

Chitta Katha, AJK: The people of Azad and Jammu Kashmir are sitting on a treasure chest: Millions of rubies, estimated to be worth up to half a billion dollars, are lying beneath them.   But archaic tools and a lack of investment in infrastructure and techniques are hampering efforts to transform the area into a significant player in the gem industry. "We have rubies that are at least as good as the Burmese, but their mining techniques are more sophisticated", says Huma Rizvi, a dealer in precious stones. Pakistani…

Diamonds – the new gold for rich investors?

LONDON: Diamonds can at last be an investor’s best friend, the Singapore Diamond Investment Exchange (SDIX) said on Tuesday, as it launched a new standardised form of the precious stones to rival gold ingots as a safe-haven alternative to cash. The industry says diamonds are the world’s most concentrated form of wealth, but investors have long viewed them as less useful as a store of value than gold because each stone is different, making its value subjective and trading difficult. Alain Vandenborre, chairman and…