Market Comments 7/25/2008Global trading markets seasonally quiet with low expectations for next week's NY show and high expectations for next month's Mumbai show. De Beers first half 2008 sales +10% to $3.7 bil., profits -10% to $316 mil., rough production -4% to 24.2 mil. cts. indicating higher prices drove sale increase. De Beers opens two new Canadian mines and expects to produce 2 mil cts. per year. U.S retailers under pressure with Mervyns in financial distress. Charles & Colvard CEO Robert Thomas resigns. Christie�s 1H08 jewelry and gem sales at +34% to $275 mil. overall sales +10% to $3.5bil. BHP 4Q production -5% to 864,000 cts. with FY08 +4% to 3.349 mil. cts. U.S. Federal Trade Commission refuses industry request to deny use of cultured diamond terminology. U.S. Congress bans all gems from Myanmar (Burma) including from third party countries.