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Making Adjustments
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By most accounts, diamond trading was slow in October asbusinesses in Ramat Gan, Antwerp and New York closed for the Jewish holidays,and Indian cutters closed early for the Diwali festival, which began October26....
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Polished Markets
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Nov 01, 2011
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Avi Krawitz
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Buoyant, Competitive and Cautious
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Diamond markets were buoyant through March after trading at the Hong Kong International Jewellery Show exceeded expectations. The show signaled a shift to a seller’s market as rising Indian and Far East demand supported the higher prices being quoted at the show, which continued to rise in the...
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Polished Markets
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Apr 01, 2011
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Avi Krawitz
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Dealer Demand Has Market Boiling Over
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Riding the wave of a very strong Hong Kong Show in March, Israeli dealers and cutters were confident that the market was working in their favor as demand and prices continued to rise. However, many cautioned that the trading may be overly enthusiastic and not reflective of true...
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Polished Markets
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Apr 01, 2011
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Avi Krawitz
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Mining Profits
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The 2010 earnings season for mining companies culminated in a strong set of De Beers financials, which closed out a positive year for the sector. The common thread among the diamond producers was the rapid recovery in rough prices, which boosted earnings. De Beers reported that average...
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Rough Markets
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Mar 01, 2011
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Avi Krawitz
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Sellers’ Market As Buyers Shift Preferences
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Israel’s diamond trade continued to improve in February as the uptrend in polished demand and prices indicated that conditions have become increasingly favorable for dealers. “It’s a seller’s market and there is real demand, which is being inflated by stocking up on commercial goods,” said Emanuel Namdar, managing director of Schachter...
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Polished Markets
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Mar 01, 2011
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Avi Krawitz
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Positive Sentiments Prevail
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Sightholders were somewhat surprised that the Diamond Trading Company (DTC) kept prices stable at the January sight. They were expecting the De Beers sales and distribution unit to raise prices after the better-than-expected Christmas season. DTC spokespersons explained that while early reports indicate...
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Rough Markets
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Feb 01, 2011
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Avi Krawitz
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Year Begins on Positive Note
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The year started on a positive note in January for Israel’s diamond traders, with demand for polished diamonds in the Far East spurring activity. However, shortages of goods are holding back trading and have emerged as the main concern for both dealers and manufacturers. “There are...
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Polished Markets
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Feb 01, 2011
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Avi Krawitz
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Petra Diamonds FY1H Revenues Rise 44%
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Petra Diamonds reported that gross revenue from its mining operations rose 44 percent to $90 million during the six months that ended December 31, 2010, boosted by strong rough diamond prices during the...
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Mining
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Jan 12, 2011
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Avi Krawitz
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C. Mahendra Expects to Raise $37M in IPO
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C.Mahendra Exports, a Mumbai-based diamond and jewelry manufacturer, expects to raise up to $37 million (INR 1.65 billion) in an initial public offering (IPO) on the Bombay Stock Exchange and the National Stock Exchange of India Limited. The...
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Financial-Legal
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Jan 03, 2011
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Avi Krawitz
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Expecting More of the Same
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As 2010 ended with relative stability in the market, rumors stirred that Anglo American was preparing to bid for the 40 percent stake in De Beers held by the Oppenheimer family. The prospective deal would bring Anglo’s share in the diamond mining company to 85 percent, with the Botswana government...
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Polished Markets
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Jan 01, 2011
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Avi Krawitz
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Better Than 2009 — and Satisfied
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Israeli diamond cutters ended 2010 satisfied that market conditions had improved during the year but cognizant of the challenges they face in 2011. “There is business being done, but there’s no boom,” said Dotan Siman-Tov, managing director of Lili Diamonds, a manufacturer of fancy shape diamonds. “Growth...
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Polished Markets
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Jan 01, 2011
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Avi Krawitz
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Chasing Rabbits
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In western-urban lingo, the phrase ‘chasing rabbits’ can refer to being completely drugged, or being distracted to do something irrelevant. In the Chinese zodiac, rabbits refer to quite the opposite. Legend has it that people born in the Year...
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Research
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Dec 30, 2010
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Avi Krawitz
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Japan's Nov. Polished Imports Rise 11%
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Japan’s polished diamond imports rose 10.5 percent year on year to $57.9 million in November*. The volume of imports increased 12.6 percent to 189,764 and the average price of the goods fell 2 percent to $305 per carat...
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Polished Markets
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Dec 30, 2010
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Avi Krawitz
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Rough Markets
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Dec 27, 2010
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Avi Krawitz
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Two Israelis Arrested For Smuggling Zimbabwe Diamonds
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Customs officials at Ben Gurion Airport this past week arrested two Israelis suspected of smuggling approximately $140,000 (NIS 500,000) worth of rough diamonds from Zimbabwe through Tel Aviv. The Israel Tax Authority said...
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Fair Trade
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Dec 26, 2010
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Avi Krawitz
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Diamond Person of the Year 2010
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Back in November 2009, delegates from roughly 78 governments, along with nongovernmental organizations (NGOs) and representatives from the diamond industry, gathered in a small town along the coast of Namibia called Swakopmund for the annual...
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Fair Trade
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Dec 23, 2010
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Avi Krawitz
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The Next KP Chair
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The United Nations (UN) Security Council this week renewed its arms embargo on the Democratic Republic of the Congo (DRC) while “recalling the linkage between the illegal exploitation of natural resources, illicit trade in such resources and the proliferation and trafficking of arms as one of the...
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Research
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Dec 16, 2010
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Avi Krawitz
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DTC Dec. Sight Estimated at $420M
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The Diamond Trading Company (DTC) December sight had an estimated value of $420 million as prices and assortments remained relatively stable. Ex-plan, or goods not included in the original intentions to offer (ITOs), was supplied mainly...
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Rough Markets
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Dec 16, 2010
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Avi Krawitz
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Polished Markets
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Dec 14, 2010
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Avi Krawitz
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Israel's Polished Diamond Exports +4% in Nov.
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Israel’s polished diamond exports rose 4 percent year on year to $549.6 million in November, according to the Central Bureau of Statistics (CBS). Rough exports grew 20 percent to $307.9 million and total exports of rough and polished increased...
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Polished Markets
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Dec 14, 2010
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Avi Krawitz
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