BUSINESS | Extremely Rare, Purple-Pink Russian Diamond Up For Action, Worth $38 Million

MILAN | ITALY – An extremely rare, vivid purple – pink diamond mined in Russia is expected to fetch up to $38 million when it goes under the hammer on November 11, the auction house Sotheby’s said on Monday.

The oval gem, which is named after a Russian ballet ‘The Spirit of the Rose’, is the largest of its kind to be offered at auction. The trend for colored stones has increased as an asset class by the super-rich in recent years.

Mined by Russian diamond producer Alrosa, the 14.83 – carat diamond was cut from the largest pink crystal ever found in Russia, Sotheby’s said.

‘The occurrence of pink diamonds in nature is extremely rare in any size. Only one percent of all pink diamonds are larger than 10 – carats’, said Gary Schuler, worldwide chairman of Sotheby’s jewelry division.

Naturally colored diamonds occur because they possess a particular lattice structure that refracts light to produce colored, rather than white stones.

Pink diamonds are both rare and aesthetically highly prized by collectors, analysts say.

The gem is being shown in Honk Kong, Singapore and Taipei before being auction in Geneva on November 11.

Saudi Energy Minister Sees Demand From Gas – To – Oil Switch At Up To 600,000 BPD

LONDON – Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman said users switching from gas to oil could account for demand of 500,000 – 600,000 barrels per day (bpd), adding that the world was now waking up to shortages in the energy sector. Prince Andulaziz said the potential switch depended on how severe winter … More Saudi Energy Minister Sees Demand From Gas – To – Oil Switch At Up To 600,000 BPD

Riyadh Winter Wonderland Back In Saudi Arabia, 40 Pct Larger Than Previous Season

RIYADH, Saudi Arabia –  Riyadh Winter Wonderland is set to make a comeback in Saudi Arabia’s capital with 40 percent more space during Riyadh Season, with added games, activities, and shows for all age groups. Starting October 26 and lasting until the end of March 2022, Winter Wonderland will include more than 103 games and six areas: Dreamland Carnival, … More Riyadh Winter Wonderland Back In Saudi Arabia, 40 Pct Larger Than Previous Season

Saudi Arabia Advises Citizens Not To Travel To Lebanon – Ministry

PARIS, France – Saudi Arabia has advised its citizens not to travel to Lebanon in light of the latest security events, the foreign ministry wrote on Twitter on Sunday. Lebanon remains on  a Saudi travel list where obtaining prior permission to visit is required. On Thursday, seven people were killed in violence in Beirut  as crowd … More Saudi Arabia Advises Citizens Not To Travel To Lebanon – Ministry

Saudi Arabia’s Crown Prince Launches Strategic Offices For Al – Baha, Al – Jouf, Jazan

JEDDAH, Saudi Arabia – Saudi Arabia’s Crown Prince Mohammed bin Salman announced on Sunday the launch of the strategic offices for the development of al – Baha, al – Jouf, and Jazan regions. According to the Saudi Press Agency (SPA), these offices aim to capitalize on the unique competitive advantages each of the three regions … More Saudi Arabia’s Crown Prince Launches Strategic Offices For Al – Baha, Al – Jouf, Jazan

Saudi Arabia Allows Full Capacity At Sports Stadiums, Facilities

PARIS, France – Saudi Arabia’s Ministry of Sports announced that vaccinated visitors will be allowed into all sports stadium and facilities as they operate at full capacity, the official Saudi Press Agency (SPA) reported Sunday. Visitor entry will be limited to those who are  fully vaccinated against COVID – 19, as per Kingdom’s rules, the … More Saudi Arabia Allows Full Capacity At Sports Stadiums, Facilities

Saudi Arabia Allows Capacity At Mecca’s Grand Mosque As COVID – 19 Rules Eased

PARIS, France – The Grand Mosque in the Muslim holy city of Mecca in Saudi Arabia operated at full capacity on Sunday, with worshippers praying shoulder – to – shoulder for the first time since the coronavirus pandemic began. This comes after Saudi Arabia’s Interior Ministry approved easing the country’s strict COVID – 19 precautionary … More Saudi Arabia Allows Capacity At Mecca’s Grand Mosque As COVID – 19 Rules Eased

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