The global economic slowdown has taken toll on India’s diamond exports. Hit by a contraction in demand for diamond in the US and European markets, export of cut and polished diamonds from India are believed to have dipped 8.24% to $13 billion in 2008-09 from $14.2 billion in the previous year, according to provisional estimates. [...]
Moti Ganz, president of the International Diamond Manufacturers Association along with the presidents of the 14 national diamond manufacturing associations met today that represent the IDMA membership to assess the impact of the global financial meltdown. For full story, click here
With a whopping $43 billion of rough and cut diamonds passing through Antwerp, home to some 300 Indian families mainly hailing from Palanpur in Gujarat that are engaged in the trade, this Belgian city’s diamond market is dangerously overdrawn and recovering from the financial meltdown. For full story, click here
While the full impact of the global financial meltdown remains unknown, the Israel Ministry of Industry, Trade and Labor released data for 2008 showing sharp declines in diamond sales. The Israel Diamond Exchange president Avi Paz said: The downturn in the economy in the world affected diamonds like it affected everybody. For full story, click [...]
The global financial meltdown, which has badly hit the diamond industry, has led to Trans Hex terminating talks to acquire assets owned by De Beers Consolidated Mines. For full story, click here
The diamond industry has decided to temporarily suspend all import of rough diamonds to limit the impact of the global meltdown on the industry. For full story, click here
Get our independent commentary on diamond trends and companies delivered to your inbox.
