|
|
|
Israel’s Union Bank Sells Diamond Portfolio
|
|
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...
|
|
|
Financial-Legal
|
Jul 14, 2020
|
Rapaport News
|
|
|
|
|
|
Israel’s Bank Leumi Eyes Return to Diamonds
|
|
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,...
|
|
|
Financial-Legal
|
Jun 11, 2020
|
Rapaport News
|
|
|
|
|
|
Belgian Banks Postpone Loan Repayments
|
|
Belgium has introduced emergency financial concessions to help companies survive the current downturn, offering businesses extra time to repay loans and meet tax obligations.The government and banks have agreed to postpone repayments of existing...
|
|
|
Financial-Legal
|
Mar 30, 2020
|
Rapaport News
|
|
|
|
|
|
India Eases Trade’s Financial Burden
|
|
India’s government has approved concessions to ease the financial situation for diamond and jewelry businesses after the country went into lockdown to curb the spread of the coronavirus.The finance ministry raised the minimum...
|
|
|
Financial-Legal
|
Mar 25, 2020
|
Rapaport News
|
|
|
|
|
|
Indian Exporters Get Reprieve from Banks
|
|
Indian banks have agreed to offer special concessions to diamond exporters to help them deal with late payments resulting from the coronavirus outbreak.Companies will have extra months to repay loans they take to fund overseas...
|
|
|
Financial-Legal
|
Mar 19, 2020
|
Rapaport News
|
|
|
|
|
|
Pressure on Diamond Midstream Likely to Increase
|
|
Diamond manufacturers will consolidate in the coming years to avoid being further squeezed by miners and retailers, Bain & Company predicted in its annual report on the industry.The forecast stems from the midstream becoming anincreasingly...
|
|
|
Polished Markets
|
Dec 12, 2019
|
Joshua Freedman
|
|
|
|
|
|
ABN Amro Tightens Diamond Lending Terms
|
|
ABN Amro will implement changes to its guidelines for lending to the diamond industry in 2020, reasoning that the trade has become more efficient and now requires less credit.The midstream’s reliance on working capital...
|
|
|
Rough Markets
|
Dec 12, 2019
|
Avi Krawitz
|
|
|
|
|
|
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
|
|
|
|
|
|
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
|
|
|
|
|
|
India’s ICICI Bank Exits Antwerp
|
|
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...
|
|
|
Financial-Legal
|
Jan 09, 2019
|
Rapaport News
|
|
|
|
|
|
Indian Banks Slash Lending by 10%
|
|
Bank financing to India’s gem and jewelry sector has fallenat least 10% since April 1 due to stricter lending conditions, according to the trade’s export-promotion body.Credit providers tightened their rules after allegations inJanuary that...
|
|
|
Financial-Legal
|
Jul 24, 2018
|
Rapaport News
|
|
|
|
|
|
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
|
|
|
|
|
|
India Trade Looks to Ease Banks’ Concerns
|
|
India’s diamond industry is working to produceguidelines for banks to reduce their risks when lending to the trade. The nation’s Gem & Jewellery Export Promotion Council (GJEPC) has beencollaborating with the government and lenders...
|
|
|
Financial-Legal
|
May 01, 2018
|
Joshua Freedman
|
|
|
|
|
|
Antwerp Body Joins India KYC Program
|
|
Trade organizations in Belgium and India are collaborating on an onlinenetwork to enable industry members to share know-your-customer (KYC) data witheach other.MyKYCBank, which India’s Gem & Jewellery Export Promotion Council (GJEPC) initially set up, lets...
|
|
|
Financial-Legal
|
Dec 06, 2017
|
Rapaport News
|
|
|
|
|
|
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
|
|
|
|
|
|
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
|
|
|
|
|
|
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
|
|
|
|
|
|
Birks Credits Strategic Goals in New Deal
|
|
Birks Group has negotiated new credit terms that it sayswill enable continued implementation of its growth strategy. “We feel encouraged that our lenders have recognizedmanagement’s efforts to restructure the company and to improve the...
|
|
|
Retail
|
Dec 26, 2016
|
Rapaport News
|
|
|
|
|
|
Israel’s FIBI Bank Tightens Terms for Diamond Trade
|
|
The Israel Diamond Exchange (IDE) pledged to contest adecision by First International Bank of Israel (FIBI) to tighten its lending standardsfor the trade.FIBI raised collateral requirements for the diamondindustry, prompting IDE president Yoram Dvash...
|
|
|
Financial-Legal
|
Aug 18, 2016
|
Rapaport News
|
|
|
|
|
|
NY Firm to Launch Diamond Industry Lending
|
|
The midstream diamond and jewelry industry is set to gainaccess to more than a billion dollars in loans from a New York-based lender that sees a “dire need” for funding in the sector.Excelsior Capital Ventures will start engagingwith...
|
|
|
Financial-Legal
|
Aug 17, 2016
|
Rapaport News
|
|
|
