Israel, Dubai Diamond Sectors Sign Trade Deal

 

Diamond bourses in Israel and the United Arab Emirates (UAE) have signed a cooperation deal following the recent peace accord between the two Middle East countries.

The Israel Diamond Exchange (IDE) will open a representative office in Dubai, while the Dubai Multi Commodities Centre (DMCC) will establish an office Ramat Gan, the organizations said Thursday following a virtual ceremony. The two nations’ diamond sectors will also work together to promote trading, and agreed to organize an Israel-Dubai diamond fair.

“Through the World Federation of Diamond Bourses (WFDB), we have come to know and value the leaders of the Dubai diamond industry,” said Yoram Dvash, president of the IDE and the WFDB. “The agreement will enable us to build on these relationships to the benefit of the members of our respective bourses.”

On August 13, Israel and the UAE agreed to normalize relations and cooperate on trade. While diamond executives had quietly been traveling between the two nations for some time, the peace treaty enabled formal business ties.

Image: The Israel Diamond Exchange and executives at the opening of the redesigned

Source: DCLA

Israel, Dubai Diamond Sectors Sign Trade Deal

 

Diamond bourses in Israel and the United Arab Emirates (UAE) have signed a cooperation deal following the recent peace accord between the two Middle East countries.

The Israel Diamond Exchange (IDE) will open a representative office in Dubai, while the Dubai Multi Commodities Centre (DMCC) will establish an office Ramat Gan, the organizations said Thursday following a virtual ceremony. The two nations’ diamond sectors will also work together to promote trading, and agreed to organize an Israel-Dubai diamond fair.

“Through the World Federation of Diamond Bourses (WFDB), we have come to know and value the leaders of the Dubai diamond industry,” said Yoram Dvash, president of the IDE and the WFDB. “The agreement will enable us to build on these relationships to the benefit of the members of our respective bourses.”

On August 13, Israel and the UAE agreed to normalize relations and cooperate on trade. While diamond executives had quietly been traveling between the two nations for some time, the peace treaty enabled formal business ties.

Image: The Israel Diamond Exchange and executives at the opening of the redesigned

Source: DCLA

Israel, Dubai diamond exchanges begin strategic collaboration

 

The Israel and Dubai diamond exchanges have signed an agreement to promote cooperation in a deal certain to boost direct trade between the Middle East’s main diamond hubs.

The agreement was announced on Thursday two days after Israel and the United Arab Emirates signed an historic agreement to normalize ties and marks a further development in economic collaboration.

The diamond deal, finalised in a video conference ceremony, was welcome news for an industry hit hard by the coronavirus pandemic and overall weaker global demand.

As part of the agreement, the Israel Diamond Exchange (IDE) will open an office in Dubai and the Dubai Multi Commodities Centre (DMCC) will open one in Ramat Gan, home to the Israeli exchange.

The two parties said they will share experience and knowledge, work to promote bilateral trade and collaborate on exhibitions, visits and conferences. They also agreed to arrange an Israeli-Dubai diamond fair to be held in Dubai and Ramat Gan and to promote electronic trade.

Israel is one of the leading exporters of polished diamonds. IDE President Yoram Dvash said that Dubai, with its free zone and convenient business conditions, has become one of the most important diamond centers in the world.

The Dubai Diamond Exchange is part of the government-owned DMCC. The total value of rough and polished diamonds traded in Dubai last year exceeded $23 billion, the DMCC said.

“This agreement will attract businesses to the emirate as well as boost the regional and international trade of this precious stone,” said Ahmed Bin Sulayem, executive chairman of the DMCC and chairman of the Dubai Diamond Exchange.

Israel’s diamond exports fell 28% in 2019 to $4.9 billion.

Source: DCLA

Israel, Dubai diamond exchanges begin strategic collaboration

 

The Israel and Dubai diamond exchanges have signed an agreement to promote cooperation in a deal certain to boost direct trade between the Middle East’s main diamond hubs.

The agreement was announced on Thursday two days after Israel and the United Arab Emirates signed an historic agreement to normalize ties and marks a further development in economic collaboration.

The diamond deal, finalised in a video conference ceremony, was welcome news for an industry hit hard by the coronavirus pandemic and overall weaker global demand.

As part of the agreement, the Israel Diamond Exchange (IDE) will open an office in Dubai and the Dubai Multi Commodities Centre (DMCC) will open one in Ramat Gan, home to the Israeli exchange.

The two parties said they will share experience and knowledge, work to promote bilateral trade and collaborate on exhibitions, visits and conferences. They also agreed to arrange an Israeli-Dubai diamond fair to be held in Dubai and Ramat Gan and to promote electronic trade.

Israel is one of the leading exporters of polished diamonds. IDE President Yoram Dvash said that Dubai, with its free zone and convenient business conditions, has become one of the most important diamond centers in the world.

The Dubai Diamond Exchange is part of the government-owned DMCC. The total value of rough and polished diamonds traded in Dubai last year exceeded $23 billion, the DMCC said.

“This agreement will attract businesses to the emirate as well as boost the regional and international trade of this precious stone,” said Ahmed Bin Sulayem, executive chairman of the DMCC and chairman of the Dubai Diamond Exchange.

Israel’s diamond exports fell 28% in 2019 to $4.9 billion.

Source: DCLA

Ana de Armas Stars in The Natural Diamond Council’s First Ever Celebrity Campaign

 

The Natural Diamond Council (NDC) announces the imminent launch of its first ever celebrity campaign, starring the actress Ana de Armas.

Ana de Armas is a rising Hollywood star. She recently received a Golden Globe nomination for her role in Knives Out, and she’ll soon appear in the upcoming James Bond film, No Time to Die. Ana de Armas also shines throughout this new multipart campaign, which was developed to celebrate the myriad connections with which natural diamonds are worn or exchanged, and to bring awareness to the Natural Diamond Council’s “Only Natural Diamonds” online platform. The Natural Diamond Council represents seven of the world’s leading diamond producers, all of which must follow the group’s ethical codes, with an emphasis on mindful and sustainable mining practices and the support of women and families in diamond-mining communities. The “Only Natural Diamonds” portal serves as a window of discovery into this natural diamond universe.

The campaign—which was lensed in coastal Portugal, directed by Manu Cossu and photographed by Camilla Åkrans—will be released on September 20, 2020, during the first ever virtual Emmy Awards. Teasers will be dropped in the weeks leading up to the ceremony, and information about the campaign will appear on the NDC’s website from September 16, 2020.

Ana de Armas was approached for the project as she radiates with poise and modernity, and she epitomises an ascendant, free-thinking generation. Her elegant, effervescent and easygoing demeanor reflects the next chapter in the history of natural diamonds; a mindset in which the traditional tenets of diamond-wearing and exchanging are dismantled, leaving an open playing field in their place. From a barefoot party in a fragrant vineyard to a tangerine sunset along the Portuguese coast—diamond baguettes catching and diffusing the glowing rays as the sun slides into the horizon—this new attitude is casual, fun, energetic, present, and, most importantly, driven by connection and experience. Whether heading to a reunion with loved ones after months of isolation, seeing your best friend for a glass of wine after a long day, or taking a twilight walk with a partner, each and every moment is its own—and every moment is like no other.

“I love thinking of diamonds this way, as special emblems of even the small personal moments in our lives,” says Ana de Armas. “They represent joy and warmth and beauty.”

The campaign’s 30-second hero spot airing at the Emmys will be complemented by a series of shorter video segments, spotlighting the various relationships portrayed from the clip. She is seen in laid-back outdoor settings with friends, with a parent, and with a partner. In this, a fresh, opened-up association continues to be emphasised: diamonds are not solely the purview of romantic interests or formal occasions. They are meant for every type of connection.

This new campaign marks a number of firsts for the Natural Diamond Council, in addition to welcoming its first Hollywood headliner. It is the first celebrity-fronted campaign for a diamond group (brand agnostic), adding an important contribution to an industry that supports the livelihoods of roughly 10 million people worldwide. This is also the first campaign dedicated to NDC’s “Only Natural Diamonds” platform, and the first marketing initiative by the NDC to showcase such a diverse roster of jewellery designers that work with natural diamonds in exceptionally modern ways.

“Ana is a true talent, and the dynamism she exemplifies is exactly what we seek to do daily in our support of the natural diamond industry,” says David Kellie, CEO of Natural Diamond Council. “This campaign redefines traditional diamond moments, celebrating a variety of personal connections with these natural stones. It’s a more contemporary approach to the diamond dream, for meaningful moments large or small.”

A selection of the designers and brands featured in the campaign, all of which use diamonds from the Natural Diamond Council’s producers, include: Anita Ko, KATKIM Fine Jewelry, De Beers Jewellers, Ana Khouri, Delfina Delettrez, Gabriel & Co, Zoe Chicco, Eriness, London Jewelers, Jade Trau, Lorraine Schwartz, Suzanne Kalan, Fernando Jorge, Vanleles, Foundrae, Marla Aaron, Nikos Koulis and more.

Following its Emmys debut, the campaign will be featured in print media, including Vogue and Vanity Fair’s respective November 2020 issues, The New York Times, and at online publications ranging from Bustle to Who What Wear. It will, additionally, be featured on non-linear TV, from Hulu to Amazon Fire. The Natural Diamond Council will also distribute campaign materials through its owned channels, including its website, which will feature behind-the-scenes footage and an interview element with Ana de Armas, as well as comprehensive information about the brands and designers that are seen. The campaign will have a global presence, also running in the United Kingdom, China and India.

Source: DCLA

Ana de Armas Stars in The Natural Diamond Council’s First Ever Celebrity Campaign

 

The Natural Diamond Council (NDC) announces the imminent launch of its first ever celebrity campaign, starring the actress Ana de Armas.

Ana de Armas is a rising Hollywood star. She recently received a Golden Globe nomination for her role in Knives Out, and she’ll soon appear in the upcoming James Bond film, No Time to Die. Ana de Armas also shines throughout this new multipart campaign, which was developed to celebrate the myriad connections with which natural diamonds are worn or exchanged, and to bring awareness to the Natural Diamond Council’s “Only Natural Diamonds” online platform. The Natural Diamond Council represents seven of the world’s leading diamond producers, all of which must follow the group’s ethical codes, with an emphasis on mindful and sustainable mining practices and the support of women and families in diamond-mining communities. The “Only Natural Diamonds” portal serves as a window of discovery into this natural diamond universe.

The campaign—which was lensed in coastal Portugal, directed by Manu Cossu and photographed by Camilla Åkrans—will be released on September 20, 2020, during the first ever virtual Emmy Awards. Teasers will be dropped in the weeks leading up to the ceremony, and information about the campaign will appear on the NDC’s website from September 16, 2020.

Ana de Armas was approached for the project as she radiates with poise and modernity, and she epitomises an ascendant, free-thinking generation. Her elegant, effervescent and easygoing demeanor reflects the next chapter in the history of natural diamonds; a mindset in which the traditional tenets of diamond-wearing and exchanging are dismantled, leaving an open playing field in their place. From a barefoot party in a fragrant vineyard to a tangerine sunset along the Portuguese coast—diamond baguettes catching and diffusing the glowing rays as the sun slides into the horizon—this new attitude is casual, fun, energetic, present, and, most importantly, driven by connection and experience. Whether heading to a reunion with loved ones after months of isolation, seeing your best friend for a glass of wine after a long day, or taking a twilight walk with a partner, each and every moment is its own—and every moment is like no other.

“I love thinking of diamonds this way, as special emblems of even the small personal moments in our lives,” says Ana de Armas. “They represent joy and warmth and beauty.”

The campaign’s 30-second hero spot airing at the Emmys will be complemented by a series of shorter video segments, spotlighting the various relationships portrayed from the clip. She is seen in laid-back outdoor settings with friends, with a parent, and with a partner. In this, a fresh, opened-up association continues to be emphasised: diamonds are not solely the purview of romantic interests or formal occasions. They are meant for every type of connection.

This new campaign marks a number of firsts for the Natural Diamond Council, in addition to welcoming its first Hollywood headliner. It is the first celebrity-fronted campaign for a diamond group (brand agnostic), adding an important contribution to an industry that supports the livelihoods of roughly 10 million people worldwide. This is also the first campaign dedicated to NDC’s “Only Natural Diamonds” platform, and the first marketing initiative by the NDC to showcase such a diverse roster of jewellery designers that work with natural diamonds in exceptionally modern ways.

“Ana is a true talent, and the dynamism she exemplifies is exactly what we seek to do daily in our support of the natural diamond industry,” says David Kellie, CEO of Natural Diamond Council. “This campaign redefines traditional diamond moments, celebrating a variety of personal connections with these natural stones. It’s a more contemporary approach to the diamond dream, for meaningful moments large or small.”

A selection of the designers and brands featured in the campaign, all of which use diamonds from the Natural Diamond Council’s producers, include: Anita Ko, KATKIM Fine Jewelry, De Beers Jewellers, Ana Khouri, Delfina Delettrez, Gabriel & Co, Zoe Chicco, Eriness, London Jewelers, Jade Trau, Lorraine Schwartz, Suzanne Kalan, Fernando Jorge, Vanleles, Foundrae, Marla Aaron, Nikos Koulis and more.

Following its Emmys debut, the campaign will be featured in print media, including Vogue and Vanity Fair’s respective November 2020 issues, The New York Times, and at online publications ranging from Bustle to Who What Wear. It will, additionally, be featured on non-linear TV, from Hulu to Amazon Fire. The Natural Diamond Council will also distribute campaign materials through its owned channels, including its website, which will feature behind-the-scenes footage and an interview element with Ana de Armas, as well as comprehensive information about the brands and designers that are seen. The campaign will have a global presence, also running in the United Kingdom, China and India.

Source: DCLA

Petra Diamonds recovers five rare large high-quality blue diamonds at Cullinan Mine

 

South Africa’s Petra Diamonds, which put itself up for sale in June, announced on Wednesday it had found five high-quality blue diamonds, but toned down the news by saying the discovery won’t help turn around its fortunes.

Petra, which has been hit by a triple whammy of weak market conditions, power emergencies in the home country and covid-19, found the Type IIb blue diamonds at its flagship Cullinan mine.

The high quality stones, in terms of both their colour and clarity, range in size from 9.6 carats to 25.8 carats, the company said.

The miner didn’t indicate the diamonds’ potential value but said it is considering sale options.

“These finds, whilst a positive development, will not have a material impact on the likely terms of the required long-term solution to improve the group’s capital structure, nor the significant level of equity dilution that existing shareholders are likely to experience in connection with its implementation,” Petra said in the statement.

The company also warned that measures to improve its capital structure could result in significant equity dilution.

Blue stones are among the rarest and most valuable and have lately fetched higher prices than white diamonds. Last year, Petra sold a 20.08-carat blue gem for $14.9 million, or about $741,000 per carat.

“Flexible” approach to sales
Petra was already struggling when the covid-19 pandemic added further pressure to a sector that was just beginning to show some green shots.

The miner tried in 2019 to turn around its fortunes after piling up debt to expand its flagship Cullinan mine in South Africa. The renowned mine, where the world’s largest-ever diamond was found in 1905, produces about a quarter of the world’s gem-quality diamonds. It is also the source of the vast majority of blue stones.

In May, Petra failed to make an interest payment on a $650 million bond, but won some breathing space from creditors who said they would not declare a default until August.

The diamond producer also cancelled May and June tenders because of travel restrictions and low demand from the midstream. While it originally expected to hold a tender in September, Petra said it was still evaluating the optimal route to market for the stones it mines. It added it would release further information to its customer base once a decision about the marketing plan to follow had been made.

For now, the company is taking a “flexible” approach to selling diamonds in light of ongoing travel restrictions triggered by the global pandemic.

Despite the numerous challenges, Petra is targeting a ramp-up to pre-covid-19 production levels. It added it will disclose production targets for 2021 once it reaches a “sustainable level of operational stability.”

Source: DCLA