25 June, 2006

The Crown of Antwerp

Robert Ditcham's Gulf News Business page article cites several reasons why Dubai can become the new centre of the world diamond market overtaking the Belgian city of Antwerp, which has held on to the position for around 400 years. Most curious of which is the one below.

"Belgium's tough federal legislation regarding money laundering and checks on the use of diamond money to finance ugly conflicts are leading manufacturers to turn their eyes to the tax-free haven of Dubai's freezones."

Does that sound like money-laundering and 'ugly-conflict financiers' are welcome in Dubai besides being a 'tax-free haven'?
Still a big issue for the self-described 'financial hub of the world' despite claims on addressing the same. The U.S News article is worth a look.
Posted by Woke at 12:16 pm

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