Diamonds Light Up World's Tallest Building

RAPAPORT... Dubai has embarked on an eye-catching campaign to attract the global diamond industry to the emirate - and has lit up the world's tallest building to mark the launch.The story of a diamond's creation recently appeared on the side of the 830-meter Burj Khalifa skyscraper, promoting the city as a future hub for the trade, the Dubai Multi Commodities Centre (DMCC) said Friday. The display started with images showing the formation of a diamond underground, before revealing a stone undergoing laser-cutting, and ending with the words "Dubai - the future of diamonds." (See video at end of article.)As part of the drive, which coincided with the Muslim festival of Eid al-Adha, the government-owned DMCC has slashed fees for setting up a new business in the hub by 50% until September 30 for all diamond-related companies. The center has also offered free 12-month membership in the Dubai Diamond Exchange for newly registered businesses."The trade [in] precious metals and stones is a critical pillar of the nation's economic diversification agenda," said Thani bin Ahmed Al Zeyoudi, the United Arab Emirates (UAE) minister of state for foreign trade. "The UAE Ministry of Economy is focused on catalyzing a new phase of economic growth and development in the country, and supporting the trade connected to diamonds is a priority."Main image: The display on the Burj Khalifa, Dubai. (DMCC)