Diamonds & Engagement Rings News

The diamond industry has agreed on stopping to import rough diamonds temporarily in order to limit the crash of the international meltdown on the industry. The Gem & Jewelry Export Promotion Council (GJEPC) has made the decision at a meeting a couple days ago.

The council had requested its members to stop importing diamonds for at least five weeks, starting November 25th. Chairman of GJEPC, Vasant Mehta, said, “We have decided not import rough diamonds from November 25 to December 31. We have asked our members to act accordingly.” He explained further that stopping of imports would cause fewer roughs to enter the diamond pipeline, allowing manufacturers an opportunity to clear older stocks.

Mehta continues, stating, “It will also help the industry in facing the challenge that has arisen out of the turmoil in the global financial market.” Council officials added that if the situation does not get better by then, then the time of import of diamonds might be extended.

The previous chairman of GJEPC, Sanjay Kothari, said that due to the recession in the U.S. and other major markets, the demand for diamonds was very weak. He concludes by saying, “The liquidity situation is also not very god. We feel that the move to stop imports will help the industry in general.”

Nicole Scherzinger has been suspected of being engaged to current boyfriend, Lewis Hamilton because of a recent sparkling diamond ring being flashed. Earlier this week, while the singer and race-car driver were leaving a hotel in Sao Paulo, Brazil, photographers snapped pictures of them, also discovering a flashy ring as she raised her left hand to her waist.

Neither one of the lovers have confirmed these rumors just yet. When questioned about her love life with Lewis, whom she’s been dating since May of this year, Nicole responds very openly.

Although, initially rumors spread claiming the couple was breaking up, in September Nicole stated that she and Lewis were looking for a house to buy so that they can move in together. Moreover, she wrote a song for him called “I Think I’m In Love.” She refers to this new song saying, “It’s a very personal song. It’s very in-depth and emotional - a real song that I know is going to connect with people.” 

Furthermore, Nicole posts a video online proclaiming her love for Lewis, who had become the new Formula One world champion for winning at the Brazilian Grand Prix. In the video Nicole adds in, “I’m so excited, I feel like I’m on top of the world right now… Why? Because I want to congratulate my boyfriend Lewis Hamilton for being the official Formula One World Champion. Congratulations baby, I love you, I love you, I love you. It’s all about the love and it’s just good times.”