01 Jun 2023
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A conversation about Financing and Technology in the Diamond industry to feature during an afternoon of "Conversations with Industry Leaders."
To be held during the afternoon of March 28 at the D-Mall, participants will be discussing, among other topics, the State of the Diamond Market, including the diamond and diamond jewelry retail markets in the U.S., and the relationship – or the lack thereof - between diamonds and LGDs
By: Diamond World News Service
Mar 24 2023 3:07PM
Reference: 26804  


One of the modules of the "Conversations with Industry Leaders" to be held during the 40th IDMA Congress in the afternoon of March 28 will revolve around "Financing and Technology in the Diamond industry.' Three conversation participants will share the stage: Pranay Narvekar of Pharos Beam Consulting, a renowned diamond industry analyst; Ophir Gore, Director of Diamonds, Precious Stones & Jewelry Administration at Ministry of Economy & Industry, Israel; and David Block, CEO of Sarine Technologies.

The three will discuss the industry's financial health, the changing landscape of the financial institutions and bodies that service the diamond industry and trade, and the interwoven relationship between financing and diamond technology.

"For diamond manufacturers, financing rough acquisitions, manufacturing, and stock holding is one of their biggest challenges. Therefore, it is an ever-recurring topic in our biennial industry deliberations." IDMA President Ronnie VanderLinden said. "We're glad to have three distinguished speakers on the topic!"

"Finance is always at the forefront of a manufacturer's mind," said Nissim Zuaretz, President of the Israel Diamond Manufacturers Association (IsDMA). "We need to pay upfront for rough, finance the manufacturing stages, and extend credit to our buyers. In other words, manufacturers find themselves between the hammer and the anvil. The classic banking solutions and services are well known but have become more difficult to acquire. Therefore, I am looking forward to hearing more about alternative routes for financing our operations!" he added.

More information about the attending speakers will follow during the coming days.

The afternoon's sessions will run from 13:00 to 17:00 hours on March 28. They will include conversations about the State of the Diamond Market; a review of the US diamond and diamond jewelry retail markets; a discussion about the correlation between the diamond and lab-grown diamond markets; and the a.m. session on industry finance and diamond technology.

The "Conversations with Industry Leaders" will be open to all Congress delegates, Israel Diamond Week participants, and the Israel Diamond Exchange badge holders. However, space is limited, and priority will be given to delegates and those who registered for the IDMA Congress in advance. Registration is free!

IDMA's 40th Congress is sponsored and co-organized by the Israel Diamond Manufacturers Association (IsDMA) and the Israel Diamond Institute (IDI).


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