Israel Diamond Industry Celebrates - Dec.2008

Despite tough times (Israel posted a 53 percent decrease in rough imports and a 46 percent drop in polished exports last month), Israel’s diamond industry gathered last month to celebrate its 70th anniversary. The diamond industry—which is older than the country—has made an enormous contribution to Israel’s economy, as it is an $11 billion business annually.

Israel Diamond Exchange president Avi Paz presented Varda Shine, the Israeli-born managing director of the Diamond Trading Company (DTC), with honorary IDE membership of the IDE at the event. Shine is the first woman to receive the award. v