The Israel Diamond Exchange (IDE) has scheduled a memorial service for victims of the Mumbai terror attacks to take place at 4 pm today, Wednesday December 10, in the exchange.

India’s ambassador to Israel, Navtej Sarna, will attend the ceremony, as will family members of Rabbi Gavriel and Rivka Holtzberg, the Chabad emissaries killed in the attacks.

In a notification for the event, IDE president Avi Paz stressed the strong relationship that has developed between the Israeli and Indian diamond communities.

continue reading "Israel Diamond Exchange to Hold Memorial Service for Victims of Mumbai Attacks"

A particularly poignant obituary was posted at the entrance to the Israel Diamond Exchange’s (IDE) trade floor this morning, mourning the brutal murder of Rabbi Gabi Holtzberg and his wife Rivki at the hands of the terrorists who took over Chabad House in Mumbai last week. There is no doubt that Jews all over the world are pained by the horrifying death of the Holtzbergs, who were only in their twenties. But a profound sorrow can be sensed within the walls of the Israel Diamond Exchange. This is because Chabad House in Mumbai served as “a home away from home” for dozens of Israeli diamantaires who regularly visited the site during their frequent business trips to Mumbai.

Rabbi Hagai Halevi, Honorary Secretary of the Israel Diamond Exchange, explains: “Our diamantaires would go to Chabad House in Mumbai and enjoy a kosher dinner every night. Rabbi Gabi would even make sandwiches for the Israeli diamantaires and deliver them to wherever they were doing business so that they would have kosher food for lunch too.”

continue reading "The Israeli Diamond Industry’s Angels: Gabi and Rivki Holtzberg z”l"

Members of Israel’s diamond industry met in the Ramat Gan bourse on Tuesday to discuss challenges facing the sector. The meeting was hosted by Avi Paz, president of the Israel Diamond Exchange (IDE), Moti Ganz, president of the Israel Diamond Manufacturers Association (IDMA), and Shmuel Schnitzer, IDE honorary life president. Simcha Lustig, former Israel Diamond Institute (IDI) chairman, and Uri Schwartz, former IDMA president, also presented their views on the state of affairs.

They all stressed a need for collective calm and reiterated the industry’s ability to work through difficult times. “This is a family-based industry and we have the tools to work through the current crisis as a family,” Paz said.

continue reading "Israeli Diamond Industry Weighs its Options as Leaders Call for Calm"

The Israel Diamond Exchange (IDE) celebrated its 70th anniversary last night at a gala event in Tel Aviv with the participation of thousands of diamantaires from Israel and abroad.

Special guests included Israel’s Minister of Industry, Trade and Labor Eli Yishai; Ramat Gan Mayor Zvi Bar; DTC Managing Director Varda Shine; and representatives from diamond exchanges in China, the U.S. and Europe.

Avi Paz, President of IDE and the World Federation of Diamond Bourses, thanked the many guests who came from all over the world, and said that their participation was a tribute to the importance of the Israeli diamond center within the world diamond industry.

About the world economic situation, Paz said: “At this time we must maintain our optimism. What we achieved over the past 70 years did not come easily! Our industry has gone through difficult times as well as periods of huge success and prosperity. At this time it is especially important to act with determination, optimism and cool-headedness.”

continue reading "THOUSANDS GATHER TO CELEBRATE ISRAEL DIAMOND EXCHANGE’S 70TH ANNIVERSARY"

Avi Paz, president of the World Federation of Diamond Bourses (WFDB) and the Israel Diamond Exchange, is making the case for diamonds and diamond jewelry in a letter to the industry.

A Time for Diamonds
By Avi Paz

With the current economic downturn now a fact, consumers have been quick to reset their spending priorities and it is clear that luxury products are among the first items to be reconsidered on their shopping lists. Still, global uncertainty or not, the holiday season from Thanksgiving to Christmas has always been the most important sales window for luxury items. So the question remains, how will savvy consumers decide what luxury presents to purchase for their loved ones?

Over the past decades, the luxury product market has gone through many changes. First of all, the definition of luxury has changed. A generation ago, luxury products were just a small niche occupied by fine jewelry; high-end, luxury watches; furs and to some extend exclusive travel. However, in recent years the luxury product niche has expanded, and as a result has become far more competitive.

continue reading "WFDB President Paz: A Time for Diamonds"

On Sunday, November 23, 2008, the Israel Diamond Exchange will mark its 70th anniversary with a special evening at the Mann Auditorium in Tel Aviv. Leaders of the world diamond industry are scheduled to arrive in Israel especially to attend the event, including DTC’s CEO Varda Shine, Alrosa Vice President Sergei Oulin, CIBJO President Dr. Gaetano Cavalieri, WDC Chairman Eli Izhakoff, and many others.

The event will also be attended by senior representatives of central bourses in Europe, China, the US and other countries, as well as foreign ambassadors serving in Israel.

continue reading "DTC’s CEO Varda Shine to be First Woman to Receive Honorary Membership in IDE"