Introduction: De Beers is an association of companies that dominate any things related to diamond such us diamond trading, diamond mining, diamond shops and industrial diamond manufacturing sectors. The company was established in 1888 by British businessman Cecil Rhodes and funded by London-based N M Rothschild & Sons bank and the South African diamond magnate Alfred Beit. They have many places for mining like Botswana, Namibia, South Africa and Canada.However; there was a big debate about some…
Commodification is the process by which material objects are turned into marketable goods with monetary value based on equivalent commodities. In relation, the Marx idea of commodity fetishism is related to this by which all value is derived from an abstract unknowable meaning, and the original meaning or use is absolutely gone. Commodification is evident Ed Kienholz’s watercolor artworks. In exchange for a service or material possession, he would offer a watercolor painting as payment. He was…
The Kimberley Process is a joint government, industry and civil society initiative to stem the flow of conflict diamonds – rough diamonds used by rebel movements to finance wars against legitimate governments (De Beers Group, 2012). Business Action for Africa is an International business and organization from Africa. As Business Action for Africa in support of three primary objectives: positively influence policies needed for growth and poverty reduction, promote a more balanced view of Africa,…
Diamond trading Co. is a system put into practice by the De Beers Corporation to give themselves complete control to distribute the majority of the world’s diamonds. According to Paul Zimnisky “only buyers or “Sightholders” authorized by De Beers could participate…
This one of the big ways to have a massive effect on their GHG report. Also by minimising the amount green house gasses they emit they can apply for a bigger ‘European Union Emission Trading Scheme’ permit or for a cheaper price. The EU Emissions Trading System (EU ETS) - European Commission. (2016). Conclusion Even though the penalties are extensive they should not be the main reasons for why we adhere to UK’s strict environmental laws. This is because Civil Engineers…
There were a wide range of related legislation which had been amended, repealed or replaced in order to be in conformity with the UCPD. It is witnessed some challenges to implemented the UCPD in the UK. Firstly, the maximum harmonisation requires the stringent implementation which restrains Member States from regulating their relevant rules outside the scope of UCPD. As UCPD only governs the commercial practices between traders and consumers as defined in Article 2, it is imperative to discern…
dilemma of vertical integration or utilizing available options in the market. The cost involved by using the market is called transaction cost. Transaction Cost Economics (TCE) examines how firms protect its interest from the potential risk from its trading partners. The fragility of incomplete contracts…
igure 13. Saudi Arabia vs. The Globe (Nelson Complexity Index) Saudi Arabian refineries stand at 6.0, i.e. below the global average of 7.9. The reason for low NCI is because historically Saudi Arabian focus was on upstream business and refineries have been an addition to meet local demand. In the past couple of decades, the demand has grown significantly requiring more complex refineries. Furthermore, Saudi Arabia’s strategic vision to be self-sufficient and net exporter of fuels in the future…
Barings top management less familiar business proprietary problem (transaction for his own interests). If Barings Auditors and top management understands the business of trading, they would know that it is impossible for Leeson obtained a profit of which he reported, if not taking greater risk anyway. And of course top management and Auditors questioning where the origin of the spider. Lack of knowledge about the trading Barings business is indeed justified in considering the most…
oversee that loan documentations are easy to read and understand • The “Volker Rule”- will ensure that banks are no longer allowed to own, invest, or sponsor hedge funds, private equity funds, or proprietary trading operations for their own profit, unrelated to serving their customers. Responsible trading is a good thing for the markets and the economy, but firms should not be allowed to run hedge funds and private equity funds while running a…