GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

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Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

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There is a significant need for smart and technological financial solutions in the diamond industry

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30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

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23 august 2021

Police Raids Restrain Israel's Jan. Diamond Trade

15 february 2012

Israel’s rough and polished diamond trade slumped in January as an ongoing police investigation into fraudulent money lending in the bourse took its toll, Rapaport reported. The country’s polished exports fell 9 percent year on year to $566.3 million in January, according to data published by the Central Bureau of Statistics (CBS). Rough exports declined by 40 percent to $232.7 million. Total diamond imports, including rough and polished, fell 24 percent to $514.9 million during the month.
Avraham Traub, president of the Israel Diamond Manufacturers Association (IsDMA), told Rapaport News that trade was influenced by the police raids that began at the beginning of January.
The investigation centered around 16 suspects who were systematically laundering money in large sums without reporting the transactions to the relevant authorities in Israel or abroad. They were also reportedly illegally converting foreign exchange and providing unlawful loans. The group allegedly gained tens of millions of shekels in profits from these activities. One of the companies involved in the scheme has since declared bankruptcy.
Traub stressed that the investigation was focused on a few people and did not involve the entire industry. However, he recognized that the police presence in the bourse had impacted confidence among dealers and that trade was affected.
“I am confident that trade will soon return to normal,” he added.
Representatives from the Israel Diamond Exchange (IDE) declined to comment for this story.