DIAMONDS, EMERALDS WORTH $1M STOLEN FROM HONG KONG FAIR

Hong Kong Police have arrested two men suspected of stealing $1 million worth of jewelry on the opening day of the Hong Kong Jewellery and Gem Fair, Independent Online reported. The suspects allegedly replaced a seven-carat diamond valued at $450,000 with a fake stone, as well as reportedly stealing a $500,000 emerald necklace from another booth. In two other incidents, pearls worth $25,000 were stolen.   In other news from Asia's biggest gem and jewelry event, DiamondWorld.net reported that Tony's Auction World – diamond tradersbased in Hong Kong – will be auctioning off 100,000 carats of diamonds on September 17 in the ballroom of the Hong Kong Marriot, adjacent to the venue of the Jewellery and Gem Fair. Lots will be on display at Booth #5E 02-12 and #5F 01-11 through September 16. Meanwhile, KARP Jewellery is using the Hong Kong exhibition to launch four collections of high-end diamond jewelry. The FengHuang collection features a selection of natural fancy colored diamonds, while the Grandeur collection uses fine diamonds in classic designs. The Tria collection uses solitaire diamonds for its "Treasure. The Moment" theme, and the Karp cluster features fine diamonds set in a patent-pending cluster design. Karp hopes to put out additional registered diamond designs in the future.