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ABN Amro branch Capelle aan den IJssel
ABN Amro Restricts Rough-Sector Lending
ABN Amro has scaled back its financing of rough-diamondpurchases, citing a lack of profitability in the manufacturing and tradingsectors.The Dutch bank, which mainly lends to rough dealers, will only offer credit without proof of onward sale...
Financial-Legal Jul 15, 2019 Joshua Freedman
National Bank of Fujairah Antwerp launch April 201
Dubai’s NBF Enters Antwerp Lending Market
The National Bank of Fujairah (NBF) has launched arepresentative office in Antwerp as it looks to expand its business lending toestablished diamond traders. The Dubai-based bank targets wholesalers with secure sourcesof income and solid product...
Financial-Legal Apr 07, 2019 Joshua Freedman
Polished diamond
Antwerp’s Eurostar Enters Bankruptcy
Eurostar Diamond Traders, one of the biggest names in theAntwerp industry, has entered bankruptcy following a legal battle with itsbanks. The Antwerp Corporate Court ruled Thursday in favor of thatoutcome. Eurostar plans to appeal the decision,...
Financial-Legal Mar 28, 2019 Joshua Freedman
A polished diamond under inspection
Eurostar Diamond Traders Close to Bankruptcy
Eurostar Diamond Traders could be forced to file for bankruptcy soon, aftera Belgian court rejected its reorganization plan.The large Antwerp-based manufacturer, which owes anestimated $500 million, is no longer considered a financially viable business after...
Financial-Legal Mar 12, 2019 Rapaport News
Lab-Grown Meat
Synthetics: The Meat of the Matter
In a bold and somewhat savvy move back in January 2018, Tyson Foods, one of the largest food-processing companies in the US, took a minority stake in Memphis Meats, a startup in the budding cultured-meat industry. Despite the deal’s...
Polished Markets Feb 21, 2019 Avi Krawitz
ABN Amro
Synthetics Threat Will Grow, Says ABN Amro
The impact of lab-grown diamonds on the industry willsignificantly increase in the next two years, according to ABN Amro. “We think that 2019 and 2020 will be the years thatlab-grown diamonds take off and move...
Rough Markets Jan 17, 2019 Rapaport News
ABN Amro 600
ABN Amro Scales Back Diamond Lending
ABN Amro is terminating its diamond and jewelry lendingbusiness in the US and the United Arab Emirates (UAE), the Amsterdam-based banksaid.The lender decided to end its services to the US industrydue to its “very small portfolio,” a spokesperson...
Financial-Legal May 21, 2018 Rapaport News
Erik Jens ABN Amro
Erik Jens Steps Down as ABN Amro Diamond Chief
ABN Amro’s diamond and jewelry division will become partof its trade-and-commodity finance business under a restructuring that has seenthe Dutch bank appoint a new global head for its precious-stones unit.Geert van Reisen...
Financial-Legal Dec 03, 2017 Rapaport News
Davy Blommaert
UAE Bank Targets Antwerp Diamond Clients
The National Bank of Fujairah (NBF) is planning to open a representative office in Antwerp as it looks to capitalize on the decline in financing to the Belgian city’s diamond sector.“I’ve been pushing for the move for a long time because there’s...
Financial-Legal Oct 18, 2017 Avi Krawitz
Rough Diamonds
Bank Told to Restore Exelco Assets: Bloomberg
A court has ordered KBC Group to return the assets it seizedfrom Antwerp-based diamond firm Exelco within 24 hours, Bloomberg reportedThursday.The Belgian bank took hold of assets belonging to Exelco onJune 22, according to a separate report by the...
Financial-Legal Jul 09, 2017 Rapaport News
Antwerp
Bank Seizes Exelco’s Assets: Bloomberg
Belgian bank KBC Group has seized assets of Antwerp diamond firmExelco to recover unpaid loans, according to a report by Bloomberg this week.In an effort to recoup $29 million (EUR 26 million) fromExelco, the lender had bailiffs search...
Financial-Legal Jul 06, 2017 Rapaport News
JCK Entrance
Slower Visitor Traffic at JCK
There was a bit of a debate raging among exhibitors at the JCK Las Vegas show, and part of it revolved around the organizers’ decision not to hold the event over a weekend. Buyer traffic was down — according...
Polished Markets Jun 07, 2017 Avi Krawitz
Global Money
Diamond Trade Banking on Relationships
The diamond industry and the banking sector are getting to know each other again, having recognized the gulf that’s developed between them. In that spirit, the diamond financing seminar that took place...
Polished Markets Apr 06, 2017 Avi Krawitz
Antwerp Diamond Fair
Banks Snubbing Belgian Diamond Trade: AWDC
Belgian banks are discriminating against the diamond tradeby not lending to anyone linked to the industry, the Antwerp World DiamondCentre (AWDC) has claimed.The AWDC has proof that banks are systematically refusingcustomers with...
Financial-Legal Apr 02, 2017 Rapaport News
Antwerp Beurs Voor Diamanthandel
Belgium’s Carat Tax Passed into Law
Belgium’s Parliament approved the new Carat Tax that is expectedto increase stability for the trade by making tax bills more predictable.The levy, enshrined into law December 15, will come into effect for...
Financial-Legal Dec 18, 2016 Rapaport News
Cash
Diamond Industry Now Banking on Legitimacy
The diamond industry has added several layers of legitimacy this year as more companies are complying with standards set out by banks, regulators and suppliers, even if they’re still burdened with a “high-risk” profile. Bringing...
Financial-Legal Dec 08, 2016 Avi Krawitz
ABN AMRO
ABN AMRO Forecasts Polished Price Recovery
ABN AMRO predicted polished diamond prices will increase nextyear as it expects improved economic conditions to boost U.S. and Chinese demand.U.S. jewelry consumptionwill grow amid a stronger labor market and rising housing prices, the...
Polished Markets Dec 05, 2016 Rapaport News
Rough Diamonds
ABN AMRO Sees Rough Prices Declining
Rough diamond prices are likely to fall because of sluggish consumerdemand for jewelry, according to a report from ABN AMRO.A surge in the Composite Rough Diamond Index so far thisyear is not sustainable and may have been...
Rough Markets Jul 05, 2016 Rapaport News
Davy Blommaert
Antwerp’s Pain, Dubai’s Gain
Davy Blommaert, head of diamond lending at Dubai-based National Bank of Fujairah (NBF) and a former executive of Antwerp Diamond Bank (ADB), took time out recently to speak to Rapaport News. Blommaert spoke about the diamond trade’s...
Financial-Legal Jun 16, 2016 Avi Krawitz
World Diamond Congress 2016
Diamond Congress Zooms In on Lending
Financing was the focus of the second day of the WorldDiamond Congress in Dubai as bankers and industry leaders called fortransparency and careful financial management in the trade.The need for the diamond business to improve working...
Financial-Legal May 19, 2016 Rapaport News
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