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Israel Polished Exports Slump
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Israel’s polished-diamond exports fell 37% year on year to $1.9 billion in the first 10 months of 2020, according to figures the government released last week.The decline, which reflects the impact of the pandemic, eased slightly in August...
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Polished Markets
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Nov 22, 2020
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Rapaport News
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Israel’s Sarine to Open Dubai Service Center
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Sarine Technologies will launch a diamond-scanning center in Dubai following Israel’s peace deal with the United Arab Emirates (UAE).The Israel-headquartered company will partner with Trigem, a Dubai-based provider of services to the diamond industry, which...
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Technology
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Nov 05, 2020
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Rapaport News
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De Beers Lets Sightholders Defer Smaller Goods
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De Beers is allowing customers to defer purchases of smaller rough at this week’s sight, as reduced manufacturing capacity in India has slashed demand.Sightholders can refuse to buy fancies, makeables and sawables up to 0.75 carats, and instead make the...
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Rough Markets
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Nov 02, 2020
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Joshua Freedman
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Manufacturing Rebound Boosts Sarine Revenue
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Sales at Sarine Technology improved in the third quarter as diamond-manufacturing levels increased following a lockdown in India, the equipment producer reported Wednesday.Revenue rose 25% versus the previous quarter to $7.4 million in the three months ending...
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Manufacturing
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Oct 29, 2020
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Rapaport News
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Yoram Dvash to Step Down as Israel Bourse Head
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Israel Diamond Exchange (IDE) president Yoram Dvash will not run for a third term, choosing instead to focus on his leadership position at the World Federation of Diamond Bourses (WFDB).Elections for the IDE presidency are...
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Polished Markets
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Oct 28, 2020
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Rapaport News
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Trade Must Continue Transformation, Dvash Urges
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The week of September 14 was as momentous as they come for Yoram Dvash. The 56-year-old head of the Israel Diamond Exchange was elected president of the World Federation of Diamond Bourses (WFDB), having served as its interim...
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Polished Markets
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Oct 26, 2020
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Avi Krawitz
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Israel, Dubai Diamond Sectors Sign Trade Deal
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Diamond bourses in Israel and the United Arab Emirates (UAE) have signed a cooperation deal following the recent peace accord between the two Middle East countries.The Israel Diamond Exchange (IDE) will open...
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Polished Markets
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Sep 17, 2020
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Rapaport News
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Dubai and Israel Open Markets
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RAPAPORT PRESS RELEASE, August 18, 2020, New York… The Rapaport Group congratulates the governments of the United Arab Emirates (UAE) and Israel on the normalization of relations. Trade ties between the two countries are...
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Polished Markets
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Aug 20, 2020
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Rapaport
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Antwerp Trading Halls Shut for Second Time
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The Federation of Belgian Diamond Bourses has closed all four of Antwerp’s trading floors following a spike in coronavirus cases in the city.The national government tightened social-distancing rules on Monday to prevent a repeat of the full lockdown it instituted...
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Polished Markets
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Jul 28, 2020
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Joshua Freedman
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Israel Bourse Calls for Tax-Free Trading Zone
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The Israel Diamond Exchange (IDE) has urged the government to establish an international free-trade area in the bourse complex, arguing that the tax-free zone would attract foreign companies and boost the local industry.The...
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Financial-Legal
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Jul 28, 2020
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Rapaport News
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Israel’s Union Bank Sells Diamond Portfolio
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Israeli finance company Peninsula has agreed to buy Union Bank’s diamond business, pledging to continue offering loans amid a shortage of credit in the domestic industry.Peninsula will pay between 55% and 70% of the loan portfolio’s...
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Financial-Legal
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Jul 14, 2020
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Rapaport News
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Israel Diamond Industry ‘on Verge of Collapse’
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Israel’s diamond industry is on the verge of collapse as the coronavirus has wiped out sales and forced business to stop, the president of the Israel Diamond Exchange said Wednesday in a letter to the government.The pandemic will cost...
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Polished Markets
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Jul 09, 2020
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Rapaport News
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ISDMA Elects Nissim Zuaretz as President
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The Israel Diamond Manufacturers Association (ISDMA) has elected Nissim Zuaretz, founder of D.N. Diamonds, as its president.He will serve a three-year term, succeeding Kobi Korn, who had held the position since 2014, Zuaretz...
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Manufacturing
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Jun 28, 2020
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Rapaport News
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How One Diamantaire Is Picking Up the Pieces
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An Israeli diamond cutter with 45 years of experience in the trade turned to a surprising source of income when his business floundered due to Covid-19: driving a garbage truck.The story of Atzmon Breitbart might sound more worrying than inspiring....
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Polished Markets
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Jun 24, 2020
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Joshua Freedman
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Israel Trading Floor Shuts Due to Virus Case
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The Israel Diamond Exchange (IDE) closed its trading floor on Wednesday after a member who had been inside the hall tested positive for Covid-19.The bourse has already disinfected the room in preparation for...
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Polished Markets
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Jun 11, 2020
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Rapaport News
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Israel’s Bank Leumi Eyes Return to Diamonds
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Israel’s Bank Leumi has entered the bidding to acquire Union Bank’s diamond-lending business, signaling a potential return to the industry following a six-year absence.The move pits the lender against Peninsula, another Israeli credit provider,...
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Financial-Legal
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Jun 11, 2020
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Rapaport News
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Israel Bourse Trading Floor to Reopen May 24
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The trading floor at the Israel Diamond Exchange (IDE) will resume “regular activities” next week, bourse president Yoram Dvash announced in a Facebook post Sunday.From May 24, the hall will function under a new...
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Polished Markets
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May 17, 2020
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Rapaport News
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Israel Bourse Resumes Certain Services
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The Israel Diamond Exchange (IDE) has become the latest bourse to revive operations, as trading centers around the world slowly return to action following lockdowns.Facilities including banks, the post office, customs, the diamond...
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Polished Markets
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May 06, 2020
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Rapaport News
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Belgian Exports Slump as COVID-19 Hits US
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Belgium’s polished-diamond exports dropped 51% to $513.7 million in March, reflecting the impact of the coronavirus on global shipments.Exports to the US fell 47% to $152.9 million, according to data from the Antwerp World Diamond Centre, as the pandemic...
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Polished Markets
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Apr 28, 2020
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Rapaport News
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Belgium, Israel to Hold Online Diamond Fair
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Belgian and Israeli industry organizations are jointly organizing a virtual trade show to compensate for the cancellation of major exhibitions around the world.The Online Diamond Trade Fair will run from March 30 to April 3, the...
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Polished Markets
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Mar 18, 2020
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Rapaport News
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