The price of oil was close to hitting a new world record on 26/2/2008. The US crude increased the trading price by $.22 (for a barrel). Non-dollar denominations are getting attracted to the oil. Traders betting that the Federal Reserve will have to cut the rates below 3% will prevent the US economy from falling down made the euro hit high with $1.50.
On the other hand, investors are putting there money in other sources such as metals which is safer than the other sources. The daily bases recorded that gold, platinum, and wheat prices have reached the record which affected the oil price.
In my opinion, the euro rising against the dollar makes price increases in the US but it doesn’t affect the basics of the oil market.
Wednesday, February 27, 2008
Monday, February 18, 2008
The World Diamond Trade
Diamonds are the most precious stones in the world. Have you ever thought of how they get from the earth onto your fiancé’s finger? I will describe the important locations along the trade route these most valuable of rock pass.
For centuries, diamonds were a royal perquisite, but now days they have a very large space for commerce. South Africa is responsible for producing most of the world’s diamonds. De Beers Consolidated Mines Ltd in Johannesburg, South Africa is the biggest company in the world and they actually control 2/3% of the world’s rough diamond trade. They usually mine most of the diamonds in South Africa and to keep prices high they used to restrict the amount of diamonds on the market.
Antwerp is a City in Belgium which has been a diamond city for around 600 years. In fact, 80 per cent of the world's rough diamonds pass through Antwerp. Antwerp has a low number of employees who work as polishers and cutters there are only about 1,500 employees in the country.
India has a high number of employees working in polishing and cutting diamonds were they get 40 cents for every finished gem. About 90% of the world’s rough diamonds are polished in India. Rough diamonds come from many places two of these places are Antwerp, and Tel Aviv, Israel.
As we know, Dubai has a growing reputation as an attracting diamond hub. The governments used a special deal of a 50 year zero tax holidays for diamond traders. The business in Dubai is worth 1 billion British pounds.
On the other hand many pop stars buy a lot of diamonds and mostly hip hop stars that had made music about bad diamonds from Africa. Most of hip hop stars like to show off there success to the people by buying some diamonds.
For centuries, diamonds were a royal perquisite, but now days they have a very large space for commerce. South Africa is responsible for producing most of the world’s diamonds. De Beers Consolidated Mines Ltd in Johannesburg, South Africa is the biggest company in the world and they actually control 2/3% of the world’s rough diamond trade. They usually mine most of the diamonds in South Africa and to keep prices high they used to restrict the amount of diamonds on the market.
Antwerp is a City in Belgium which has been a diamond city for around 600 years. In fact, 80 per cent of the world's rough diamonds pass through Antwerp. Antwerp has a low number of employees who work as polishers and cutters there are only about 1,500 employees in the country.
India has a high number of employees working in polishing and cutting diamonds were they get 40 cents for every finished gem. About 90% of the world’s rough diamonds are polished in India. Rough diamonds come from many places two of these places are Antwerp, and Tel Aviv, Israel.
As we know, Dubai has a growing reputation as an attracting diamond hub. The governments used a special deal of a 50 year zero tax holidays for diamond traders. The business in Dubai is worth 1 billion British pounds.
On the other hand many pop stars buy a lot of diamonds and mostly hip hop stars that had made music about bad diamonds from Africa. Most of hip hop stars like to show off there success to the people by buying some diamonds.
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