The diamond jewelry design competition being held by the Israel Diamond Institute Group of Companies, in conjunction with the Israel Ministry of Industry, Trade and Labor and the Israel Jewelry Manufacturers Association, has entered its second phase.

The competition is being held in honor of Israel’s 60th anniversary, and is intended to encourage the use of Israeli diamonds by jewelry designers here, and to promote cooperation between Israeli jewelry designers and the diamond industry. The competition also seeks to position Israel as a manufacturer of unique and original diamond jewelry.

continue reading "IDI Jewelry Design Competition in 2nd Phase"

In the framework of the activities promoting cooperation between the Israeli diamond industry and its jewelry industry, the Israeli Diamond Institute of Companies together with the Israeli Ministry of Industry Trade and Labor, and the Israel Diamond Manufacturers Association, have initiated a diamond jewelry design competition as one of the events marking Israel’s 60th anniversary.

One of the main goals set by the competition’s organizers is to promote the use of diamonds manufactured in Israel in jewelry that is locally designed and manufactured, and to demonstrate Israel’s technological skills in the area of jewelry manufacturing. Another important goal is to stress the local influences and cultural atmosphere which affect the design of Israel’s unique jewelry. The organizers predict that the competition for first place will be both fierce and interesting.

continue reading "First Stage of the Diamond Jewelry Design Competition Honoring Israel’s 60th Anniversary Ends"

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"

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"

The Israel Diamond Exchange will mark its 70th anniversary in Tel Aviv on Nov. 23 with the participation of thousands of diamantaires from Israel and abroad. The event will be attended by Eli Ishai, Israel’s minister of Industry, Trade and Labor, and other ministers, political figures, leading bankers, foreign ambassadors, and diplomats.

Among the international guests will be Sergey Ulin, vice president of Alrosa; Gaetano Cavalieri, president of CIBJO - The World Jewellery Confederation; Eli Izhakoff, chairman of the World Diamond Council; Varda Shine, managing director of the DTC; and representatives from diamond exchanges in China, the U.S., and Europe.

continue reading "Israel Diamond Exchange to Celebrate 70 Years"

Israel has been voted to serve as Vice Chair of the Kimberley Process Certification Scheme, currently held by Namibia. Vice Chair countries are traditionally selected chairs of the Scheme on the following year.

Members of KPSC Plenary held in New Delhi, India voted unanimously for Israel. India is the current Chair of the Process, to be replaced by Namibia. The posts are held for one year.

Over 70 countries are members of he KPSC, joined by the United Nations and two non-government organizations, Partnership Africa Canada and Global Witness.

The 6th Plenary of the Kimberley Process Certification Scheme opened in New Delhi Monday in the presence of about 300 delegates.

Source: www.idexonline.com

Israel’s net exports of polished diamonds dropped 46.2 percent in October to $325 million, compared to $603 million worth of goods exported a year ago. Israeli diamond traders are expressing great caution in the past few weeks following the turmoil in the financial markets.

Polished diamond exports in the first ten months of the year decreased 2.2 percent to $5.812 billion.

Some 43 percent on the country’s polished diamond exports were shipped to the U.S. in October. Switzerland was the second leading destination of exports (12%), followed by Belgium (11%) and Hong Kong (9%).

Imports of polished diamonds totaled $278 million, a 44.4 percent year-over-year decline.

continue reading "Israel Polished Diamond Trade Sinks in October"

More than 50 Israeli diamond manufacturers and exporters will be participating in the upcoming Hong Kong Jewellery & Watch Fair scheduled for September 17-21.

Forty Israeli companies are set to exhibit as part of the Show’s Israel Diamond Pavilion, which is being organized by the Israel Diamond Institute Group of Companies (IDI). The companies will show off polished diamonds and diamond jewelry all specifically tailored to Asian markets. The Pavilion will also feature the IDI’s image booth, which will provide information on the Israeli diamond industry.

In preparation for the Show, the IDI has created a mini-site for the Pavilion, which enables buyers to virtually visit it prior to the Show. The mini-sit, which can be accessed through the IDI portal www.israelidiamond.co.il/exhibition/index.aspx?id=5 includes details of all Israeli diamond exhibitors and a map of their location at the Show.

“There was an increase of 35% in Israel’s net polished exports to Hong Kong in the first half of 2008 and that trend is expected to continue during the year,” says IDI Managing Director Eli Avidar. “If we continue in this way, this market is going to account for more than 25% in 2008.”

IDI Chairman Moti Ganz says, “We se Asia as the major growth market for Israeli diamond exports. In the coming years, IDI will be focusing its marketing efforts on developing these markets, especially Hong Kong, China and India.”

Today Hong Kong is the second largest market for Israel’s polished diamond exports, representing 19 percent of total sales. In 2007, net exports of polished diamonds to Hong Kong reached more than US$1.3 billion.

Source: www.diamondintelligence.com