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Diamond News Archives

Halt India's Diamond Imports for Three Months after COVID-19, says Even-Zohar

Category: News Archives
Created: 22 April 2020
Hits: 546
April 22, 20 by John Jeffay
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(IDEX  Online) - India's government should halt imports of rough diamonds to help its cutters and polishers recover from the COVID-19 crisis, says industry veteran Chaim Even-Zohar.

In an exclusive and far-reaching Memo[1] for IDEX Online he proposes a three-month moratorium to help over-stocked producers stuck in the "uncomfortable mid-stream" to shift existing inventories totalling up to $7bn.

He accuses India's banks of giving up on the diamond sector and blames sightholders for contributing to its "choked" inventories with their monthly rush to De Beers and Alrosa.

"India needs to sell for a couple of months only from inventory," he writes. "This will reduce their banking debts, bankers may warm up to the novel idea that the industry is bankable, and the overall health of the industry will certainly improve dramatically."

Click here[2] to read the full Memo....

References

  1. ^Memo (www.idexonline.com)
  2. ^here (www.idexonline.com)

Read more from our friends at IDEX

Oil Crisis Deepens: What I'm Doing - Mike Maloney

Category: News Archives
Created: 21 April 2020
Hits: 505
Diamond Buyers Club
What can the average person do to protect themselves from the unfolding economic crisis? Join Mike Maloney as he reveals what he is doing personally to protect himself from the hidden forces at work in the oil, gold, silver, currency, and stock markets.
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Read more from our friends at Gold & Silver

Dow Plunges 500 Points, Bringing Two Day Losses to More Than 1,000 Points

Category: News Archives
Created: 21 April 2020
Hits: 518
Diamond Buyers Club
Traders were focused on the strange happenings with oil futures once again, which raised concern about deep losses for the energy industry.
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Read more from our friends at Gold & Silver

The Fed Is Buying $41 Billion of Assets Daily and It’s Not Alone

Category: News Archives
Created: 21 April 2020
Hits: 612
Diamond Buyers Club
Central-bank balance sheets are expanding to record levels amid their latest buying spree, raising questions about how big they can get and whether those assets can ever be sold back to markets.
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Read more from our friends at Gold & Silver

Yoram Dvash Takes Top Job at World Federation of Diamond Bourses

Category: News Archives
Created: 21 April 2020
Hits: 466
April 21, 20 by John Jeffay
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(IDEX Online) -  Yoram Dvash has been elected acting president of the World Federation of Diamond Bourses following the temporary departure of Ernie Blom.

Mr Blom headed the Antwerp-based group of 30 worldwide bourses from 2012, but has stepped down citing "personal reasons".

His South Africa-based Ernest Blom Diamonds is currently involved in a legal dispute with the Dubai Diamond Exchange.

Mr Blom has said he is stepping aside temporarily for medical, family and personal reasons.

His successor, Mr Dvash, established Israel-based Dvash Diamonds in 1991 and is president of the Israel Diamond Exchange.  He was elected by the executive committee of the WFDB in a Zoom meeting on Sunday.

"The diamond industry like all other industries is going through a very difficult time due to the coronavirus pandemic that has struck so much devastation in human, as well as business terms, across the world," he said in an official statement.

"In this situation it is imperative that the diamond industry across the world be united in the goal to restore it to its glory days, once the pandemic has receded and some semblance of normalcy returns to the globe."

 ...

Read more from our friends at IDEX

  1. OIL ARMAGEDDON: What Will It Mean? Special Report Mike Maloney
  2. The Extremely Overvalued & Top Heavy U.S. Stock Market
  3. Mining Continues at Mountain Province but Sales Halted
  4. Is the Extreme High in the Gold/Silver Ratio Setting Up For an Extreme Reversal?

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