DiamondBuzz
Israel Delegation at Qatar Diamond Conference
It’s a notable development in what has been a stormy relationship between two countries that have no official diplomatic ties.
A delegation from Israel visited Qatar for the inaugural Doha International Diamond and Gem Conference.It’s a notable development in what has been a stormy relationship between two countries that have no official diplomatic ties. Qatar was the first Gulf state to establish official relations with Israel, which opened a trade office in Doha in 1996.But those ties were severed ties in 2009 during Israel’s Operation Cast Lead in Gaza and have not been restored since.
The delegation included Nissim Zuaretz, president of the Israel Diamond Exchange in Ramat Gan, and Eran Zini, its CEO. They were invited by the Qatari minister of commerce and industry Faisal Al-Thani, they entered the country on their Israeli passports and no attempts were made to conceal the fact that they were from Israel, according to a Globes report.
The three-day conference in Doha, at the end of last month, discussed “out-of-the-box strategies” to advance the diamond and colored gemstone industry, with over 200 visitors from 30 countries.
“The dialogue with them was very pleasant, and they received us respectfully,” Zuaretz told the Globes financial news “They know the potential of the Israelis, and what is happening with Trump may bring about a change in the economic strategy with them.”
Qatar hosted the leaders of Hamas until November 2024, played a key role in mediating talks between Israel and the Palestinians in the ongoing Gaza war and has donated over $6bn to US universities to expand its influence and promote its interests.
DiamondBuzz
India LGD Sector Is Pushing Back Against Aggressive Discounting
Trade Body, Leadership Urged Traders and Brokers To Enforce Price Floors and Eliminate Undercutting.
India’s lab-grown diamond (LGD) sector is pushing back against aggressive discounting as shrinking margins squeeze manufacturers and erode industry profitability. At a September 7 meeting of the Surat Lab Grown Diamond Association, leadership urged traders and brokers to enforce price floors and eliminate undercutting.
Raw Price Shift: Polished LGD prices recently rebounded by 20% to 25%.
Discount Compression: In response to rising costs, traders scaled back buyer discounts from ~7% to a tighter 3%–4% range.
Margin Squeeze: Association President Babu Vaghani warned that uncontrolled discounting directly erodes manufacturer earnings, forcing wage cuts and destabilizing supply chain economics.
Industry Outlook
The sector faces a structural dilemma: lower consumer prices drive adoption, but severe price erosion starves manufacturers, polishers, and labor of viable margins.
Continued downward pressure is pushing skilled labor out of the market and forcing polishing units to explore alternative industries. Stabilization hinges on widespread compliance with pricing discipline across the Surat hub.
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