DUBAI // A Dubai diamond merchant has paid more than US$6.3 million (Dh23m) for two stones at an auction in New York.
Amer Radwan, from Radwan Diamond and Jewellery Trading, bought the Ponahalo diamonds made from an original 316 carat gem unearthed in South Africa.
The two diamonds, weighing 70.87 and 102.11 carats, sold for $2.15m and $4.11m in phone bids.
An auctioneer for Christie's said he had been authorised to disclose the buyer as Mr Radwan.
The sale of the Ponahalo diamonds - the word means "vision" in an African dialect - is the second major acquisition attributed to Mr Radwan.
Three years ago, he bought a 25.02 carat pink-hued diamond for just over $6m, also in a phone bid at a Christie's auction in New York.
He dubbed the internally flawless gem the Rose of Dubai and it sold for more than double the pre-auction estimate.
The diamonds were bought against a backdrop of global economic slowdown. The Christie's auction, which covered everything from Tiffany bracelets to gem-encrusted Montblanc fountain pens, grossed $29.7m, about $5m less than expected.
One dealer described the diamond market as "dead" compared to three months ago.
The wealthy often invest capital in precious jewels and metals during recessions. Mr Radwan's motives are unknown and he could not be contacted yesterday about his latest acquisitions.
The sales have helped establish Dubai as an increasingly important site in the world diamond industry, challenging traditional centres such as Antwerp, New York and Tel Aviv by becoming one of the 26 diamond bourses around the world.
In the first six months of 2008, more than $3.03 billion worth of rough diamonds were traded through Dubai, up from $2.21bn for the first half of 2007 and $1.91bn for the same period in 2006.
The UAE is also the third biggest buyer of diamond jewellery, after the US and Japan.
Ahmed bin Sulayem, the Dubai Multi Commodities Centre executive chairman and deputy chairman of the Dubai Diamond Exchange, said the surge was "testament to Dubai's success in attracting traders from around the world".
Gem Diamonds, one of the world's leading diamond companies, has begun establishing analysing, cutting and polishing facilities in Dubai and Mauritius, which it expects will begin operating next year.
The Gem Diamonds director Glenn Turner said there was a chance that buyers would want some of the huge diamonds being found to be cut locally.
jhenzell@thenational.ae
With additional reporting by AFP
Du Plessis plans his retirement
South Africa captain Faf du Plessis said on Friday the Twenty20 World Cup in Australia in two years' time will be his last.
Du Plessis, 34, who has led his country in two World T20 campaigns, in 2014 and 2016, is keen to play a third but will then step aside.
"The T20 World Cup in 2020 is something I'm really looking forward to. I think right now that will probably be the last tournament for me," he said in Brisbane ahead of a one-off T20 against Australia on Saturday.
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Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
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UAE currency: the story behind the money in your pockets
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THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
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England squad
Joe Root (captain), Alastair Cook, Keaton Jennings, Gary Ballance, Jonny Bairstow (wicketkeeper), Ben Stokes (vice-captain), Moeen Ali, Liam Dawson, Toby Roland-Jones, Stuart Broad, Mark Wood, James Anderson.
UAE currency: the story behind the money in your pockets
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What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
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