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Belgium Diamond Trade Slows
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Belgium’s diamond trade continued its decline in August, withrough and polished shipments slowing. Polished exports slumped 34%, reflectinglower volumes and a steep drop in the average price, according to data from theAntwerp World Diamond...
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Polished Markets
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Sep 11, 2019
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Rapaport News
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HSBC to Pay $330M in Antwerp Fraud Settlement
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A Swiss unit of HSBC has agreed to pay a record EUR 294.4 million ($330 million) to settle fraud claims against its Belgian business, which mainly served members of the Antwerp diamond trade.In 2014, a Belgian judge...
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Financial-Legal
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Aug 07, 2019
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Joshua Freedman
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Belgium’s Rough Trade Hits Decade Low
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Belgium’s rough-diamond trade fell in the first half to its lowest level since the financial crisis. Rough imports to the country declined 26% year on year to $4.36 billion during the six months ending June...
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Polished Markets
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Jul 15, 2019
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Rapaport News
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ABN Amro Restricts Rough-Sector Lending
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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...
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Financial-Legal
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Jul 15, 2019
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Joshua Freedman
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Belgium’s Rough Trade Slumps in May
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Rough exports from Belgium dropped 37% year on year to $741.5million in May, reflecting continued weakness in the sector. Rough imports fell16%, according to data from the Antwerp World Diamond Centre. The polishedtrade was more...
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Mining
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Jun 26, 2019
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Rapaport News
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Belgium Rough Trade Slows in 1Q
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Belgium saw a decline in its imports and exports of rough diamondsin the first quarter, as mining companies’ sales dropped.Shipments into thecountry slid 33% to $2.09 billion for the period, reflecting a 38% slump inrough sales...
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Rough Markets
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Apr 28, 2019
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Rapaport News
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US Trade Confident as Polished Imports Surge
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Dealers expressed optimism for the US diamond marketafter polished imports rose last year to their highest level since 2014.Shipments to the country jumped 8% to $23.3 billion in2018, according to the US Census Bureau, despite more modest...
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Polished Markets
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Apr 03, 2019
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Joshua Freedman
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Antwerp Vault Heist Leaves Clients in the Dark
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Thieves have broken into a bank vault near Antwerp’s diamonddistrict, with some clients in the dark about whether their goods have beenstolen. Daring burglars entered the BNP Paribas Fortissecure area via a sewage...
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Financial-Legal
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Feb 06, 2019
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Joshua Freedman
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Record Average Price Supports Belgium Trade
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Belgium’s polished exports were flat in 2018 as a higheraverage price offset a drop in volume, according to data the Antwerp WorldDiamond Centre (AWDC) released recently. Weakness in the market for smallerstones prompted an increase in trading in larger diamonds,...
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Polished Markets
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Feb 04, 2019
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Rapaport News
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Belgium Prepares for ‘No-Deal’ Brexit
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Belgium’s diamond industry has urged companies to preparefor the possibility of the UK leaving the European Union (EU) without a customsdeal.Trading between the EU and the UK will be subject to customschecks if the two parties fail to finalize an agreement...
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Rough Markets
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Jan 21, 2019
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Rapaport News
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India’s ICICI Bank Exits Antwerp
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India’s ICICI Bank will shut its branch in Antwerp onMarch 29, becoming the latest lender to quit the Belgian diamond market. The move followed a strategic review of ICICI’s businessoperations in the country, a spokesperson for...
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Financial-Legal
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Jan 09, 2019
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Rapaport News
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Eurostar Enters Administration as Debts Mount
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Eurostar Diamond Traders has entered restructuringproceedings in Belgium, having amassed substantial debts, according to the company’scourt-appointed administrator.The Antwerp-based diamond manufacturer owes morethan $500 million to creditors across its global operations, Alain Van den...
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Financial-Legal
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Dec 25, 2018
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Joshua Freedman
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Belgium Sees Monthly Exports Falter
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Belgium’s polished trade dropped in November, according todata from the Antwerp World Diamond Centre. Exports fell 11% amid a loweraverage price, with volumes down 1%. Rough shipments also declined. However,polished trading is up for...
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Polished Markets
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Dec 18, 2018
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Rapaport News
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Higher Average Price Drives Belgium Exports
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Belgium’s polished trade grew strongly inOctober, according to data from the Antwerp World Diamond Centre. Exports rose 17% amid a higher average price and steady volumes,reflecting trading in higher-value diamonds. Export value was...
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Rough Markets
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Nov 25, 2018
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Rapaport News
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Brexit Could Halt UK Rough Trade
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The UK will temporarily be unable to import and export roughdiamonds if the nation leaves the European Union without an exit deal, thegovernment has warned. The UK is currently a member of the Kimberley Process (KP) byvirtue of its being...
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Rough Markets
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Oct 21, 2018
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Rapaport News
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Record Average Price Lifts Belgium Exports
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Belgium’s polished-diamond exports increased 5% in the thirdquarter as the average price hit a record high of $2,542 per carat. TheSeptember rate of $2,727 per carat was also the country’s loftiest result forany month, according to Rapaport...
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Polished Markets
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Oct 11, 2018
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Rapaport News
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India’s Union Bank Leaves Antwerp
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Union Bank of India willclose its branch in Antwerp, citing the weak performance of its diamonddivision, Bloomberg reported.The office will shutwithin a year, the news service last week cited Rajkiran Rai Gundyadka, thebank’s CEO,...
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Financial-Legal
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Sep 06, 2018
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Rapaport News
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30-Carat Fancy Pink Set for Antwerp Sale
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Lesotho-focused miner Namakwa Diamonds will sell a29.59-carat, fancy-pink rough stone in Antwerp this fall.The company discovered the diamond at its KAO mine in theAfrican country on June 12, according to brokerage firm Bonas-Couzyn, whichwill facilitate...
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Rough Markets
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Aug 27, 2018
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Rapaport News
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Proprietary Cuts: Their Own Brand of Trouble
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Creating and launching a proprietary cut is difficult for almost anydiamantaire. The costs can be prohibitively high, even for larger companies. Inaddition, the weak prices of non-round goods mean there’s no guarantee theventure will boost...
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Manufacturing
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Aug 22, 2018
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Joshua Freedman
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Belgium Trade Increases in July
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Belgium saw a jump in rough and polished shipments inJuly, reflecting higher average prices, according to data the Antwerp WorldDiamond Centre (AWDC) released this week. Imports and exports of bothcategories for the first seven...
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Polished Markets
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Aug 14, 2018
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Rapaport News
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