Page 12 The Canadian Jewish News, Friday, September 13, 1974
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Record export sales of diamonds bright feature in Israel's otherwise war-torn economy m 1973
By SHELDON KIRSHNER
Last autumn, amidst 'the agony of the Yom Kip-^'pur War,. Israeli, trade -officials were gratified V to learn that Israel had .surpassed Belgium as the; largest exporter of pol-' ished diamonds in the • world.
■i' At the beginning of the. .■^new year, with the fragile . /Israeli economy in dis-'. array: as a result of the 'continuing tension on the, 'Suez and Golan war fronts, the Israel Dia-<; mond Exchange announced some more pleasant news: Export sales .of polished diamonds have 'reached a record in 1973 -- $556 million, as opposed to $386 million in 1972 and $202 million in 1971.
It is confidently estimated that export - sales will skyrocket to $600
. million this year. . Since 1972. .Israel's , diamond exports have grown by an unprecedented 38% per year. In terms of foreign currency acquisition, diamonds. Is- :
. rael's largest single ex-, port, are more crucial to the.economy than citrus, electronics, tourism, high fashion or the arms;
■ industry. .
. The principal markets for Israeli polished diamonds are the Common Market (29%), the .U.S. (27%) and Japan and Hong Kong (25%). In 1972, when
. .Canada bought 29,860.91 carats, or $4 million worth, diamond sales shot up 2,296,000 carats throughout the world.
Moshe Schnitzer, president, of the Israel Diamond Exchange, explains that international currency fluctuations and raging price inflation.are
•the factors influencing the increase in the number of investors. Diamonds are considered to be one of the safest and most durable commodrt-
, ies. ■
When a foreign investor arrives in Israel, he jumps. into a taxi and heads to Ramat Can, Tel Aviv's garden suburb. There, just city blocks from the ministry of defence building, stands the gleaming aluminum and .. glass 28-storey Israel Diamond Exchange building -~ a: veritable tribute to the hard-driving men ■ who control the process-, ing and merchandising of polished diamonds.
■ The. Ramat Gan ex- : change is the world's largest and most modern . diamond trading .centre, : far bigger than its Am- • sterdam rival. Due to its unique "oner stop", ar- ■ .rangement. in which an . importer: or wholesaler. can complete a full range
■ of purchases from any . number of exporters, the Israel exchange has become a focus fordiamond dealers.
The Diamond Exchange building, a soaring needle in Tel Aviv's low skyline, : IS one of the most secure in the country, with armed guards, closed circuit /;
New Year Greetings to the Jewish community -from
F. SCHAEFFER & ASSOCIATES
Municipal Consulting Engineer 465 .Wilson Avenue, Downsview
Best wishes/or the coming year to our friends in the Jewish community
SUPERIOR ELECTRIC SUPPLY COMPANY
1461 Castlefield Avenue, Toronto. Ontario
This is the entrance to the new building of L Hennig & Co. Ltd: of London, in Ramat Gan, Israel; Building is situated near the Israel Diamond Exchange^
one of the world's major diamond brokerage firms, Israel is world's largest polished diamond exporter.
TV scanners • at office doors, and formidable underground vaults and safes.
.: "Yet with all our. security measures, business here is done on trust and credit," says one industry source. "If anyone breaks our rules, he IS excluded from our exchange and every diamond market in the world." .
Each day some 1,000 Israeli dealers and buyers from SOnationsgath-er in small groups to inspect and bargain over some $60 million worth of stones. A man's word is his best asset on the trading floor, since there is not sufficient time to. examine every stone in,a packet of 50 to 100.
Israel's diamond industry is no more than 40 years old, having been founded by Zvi; Rosenberg, a Hungarian-born but Belgium-trained immigrant, who opened Is-
■ rael's first diamond polishing shop in an abandoned stable in Petach Tikvah. In those days; Amsterdam was thedia-nlond polishing capital. However, when the.Nazis
lOverran Holland in 19.40. . all of the Jewish diamond, cutters: and polishers fled to Palestine or the United States. These Dutch refugees, established the infrastructure of Israel's^ budding diamond indus-' trv
From five small shops with 200.workers in 1950, the industrv has grown to include 12,000 workers . in 470 plants and workshops in Tel Aviv, Ne-tanya and Jerusalem. By the mid-50's, diamonds accounted for 40% of in-r dustrial exports and 1/4 of Israel's,total exports.' But with the rapid growth
of exports InotherIndus-, tries, diamonds' share feir to 30% in the ,)ate 60"s. According to the Israel Export Annual, "It may be expected that despite the current rise, the future shareofdiamonds, in relation, to, other industrial exports, willde-crease." '
With its scant natural resources, the diamond industry is ideally suited to Israel. Cutting and polishing require no water, little power, as well as few fixed assets and only a small work space.'
The government does its best to promote the industrvby helping dealers obtain cheap credit and by waiving export duties from Israel. •. Yet the industry's success must also be attributed to Its ultra-modern, methods and lack of aversion to automation. ReT
centlv. the industry was revolutionized bv Prof. Y. Yarnitskvs diamond polishing machine that provides error-free automation for the vital stages of grinding and polishing — a process tradition-all done , by skilled craftsmen.
The Diamond Trading Company (DeBeers) in London, commonly known as "The syndicate." is Israel's main supplier of rough stones. Close relations, between Israelis and "The Syndicate" has enabled the industry to grow bv leaps and bounds. . In addition. Israel buys a good deal of its. rough stones from Africa and, to a lesser degree from the Soviet Union. Israeli diamond men even buv stones from Arabs — Arab merchants in Afri'-ca who secretly sell to Israel.
New Year Greetings from .
MANOR TIRE SALES
2833 DUFFERIN SIREET. TORONTO 787-.5666
NEW YEAR GREETINGS FROM MR. AND MRS. H. EISEN OF
ROSE EISEN DRAPERIES
346 WILSON AVENUE^633-6393
New Year Greetings to the Jewish community from
BEN SHOOM CO. LTD.
ONTARIO FOOD TERMINAL
NEW YEAR GREETINGS To Our Many Jewish Customers
Yonge Garden Restaurant
225-2383
5186 Yonge St. Willbwdale
225-5432
New Year Greetings from-1
YAIL'S LAUNDRY AND DRY CLEANING
Laundry-Dry Cleaning-Storage 444 Bathurst Street 923-2441
CORDIAL GOOD WISHES TO THE JEWISH COMMUNITY
REEDS GIFT SHOP
458 EGLINTON AVE. W. 488-1163
NEW YEAR GREETINGS
SUPERIOR OPTICAL CO.
. Dispensing Opticians Contact Lenses
236 Bloor Street, West - Toronto 92i--2116
NEW YEAR GREETINGS TO ONE AND ALL FROM
1. & B. CLOTHES
<^82 Spadina Ave., 5th floor, Toronto 366-2351
NEW YEAR GREETINGS FROM '
ZOiTAK ESSO SERVICE
906 Sheppard Avenue West, Downsview 633-6840
L'SHANATOVA to all our Customers & Friends from Art & Susie-of
SHEPPARD PLAZA CLEANERS
630 Sheppard Ave. W. 635-1046 from
PRDDENTIAL DISTRIBUTORS
311 SPADINA AVE. Mr. & Mrs. SAM GRAD and staff wish all their customers and friends a Prosperous, Healthy. Happy & Peaceful . NEWVEAR.
NEW YEAR GREETINGS TO THE JEWISH COMMUNITY ON THE OCCASION OF THE NEW YEAR.
COSTAIN ESTATES LTD.
NEW YEAR GREETINGS
CAMERA CRAFT PHOTO STUDIO
J. MERE 638A Sheppard Avenue West 636-2190
A HAPPY AND HEALTHY NEW YEAR FROM
JOE ZOSKY - EDDY KAMERLING OF
CHARLES JEWELLERY COMPANY
170 SPADINA AVENUE
.364-0482
NEW YEAR GREETINGS To All Our Jewish Friends and Customers
from MR. MARTIN-of
MA RINE MA IL ORDER SUPPL Y 67 Don caster Avenue Thornhill, Ont. 889-2094
Holiday Greetings to our Customers & Friends
AUTOMATIC FUELS LTD.
(Head Office) 1000 Lawrence Avenue West,-^ Toronto, Ontario / ^ ^ Phone:789-2141 ,
Pre—Fab Cushioning ifcf. and Union Fe/f Productsr
Ontario limited
Wish all our customers and friends a happy, healthy New Year .
~ eORDIAL GOOD WISHES TO THE JEWISH COMMUNITY FROM
COUNTRY FAIR DOUTIQUE
Fine Leather Coats & Jackets
856 Egllnton Avenue West 789-5710
NEW YEAR GREETINGS TO OUR FRIENDS & CUSTOMERS
LAKESHORE HOUSE
and
T.K. PLASTICS
Mr. & Mrs. T. Kleinman
E. A. SMITH FLOUR MILLS LIMITED R. R. 4, SCOTLAND, ONTARIO
WISHES THE JEWISH PEOPLE A MOST HAPPY NEW YEAR
DUNDAS JOBBERS
Mr. & Mrs. Sydney Greenstein Mr. & Mrs. Sydney Mandel Mr. & Mrs. Phillip Gotleib 131 Baldwin St. 368-8671
Wish all their Customers & Friends a Happy and Prosperous New Year
United Customs Brokers (Ont.) Limited
159 Bay St. , Toronto wishes the Jewish Community a Happy New Year
richard LEVINSKY
real estate realtor 491 eglinton avenue west toronto M5N 1A8 telephone 486-1400
SNOW'S VICTORY FLORIST CO.
280 College Street, Toronto 929-3118
Wishes.the Jewish community, ^ a most happy New Year.
MAPLE DOWNS GOLF & COUNTRY CLUB
RICHMOND HILL, ONTARIO
Wish all Our Members and Friends A Happy and Healthy Niew Year
MOLSONS
INDEPENDEIIT BREWERS SINCE 1786
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NEW YEAR GREETINGS
To All Our Friends And Customers •,. • from ■ MR. & MRS. FINEMAN of
BETTY JANE SHOES
962 Eglinton Avenue West 782-4705
HAPPY NEW YCAPy
TO THE JEWISH PEOPLE EVERYWHERE
FROM
MR. AND MRS.
New Year Greetings to the Jewish Community
Canadian Asbestos
286 King Street East Toronto 2 363-7032
D& M
BOILOING SOPPLIES
229 Wallace St. 533-0806 wishes the Jewish Community a Happy and Healthy New Year
NEW YEAR GREETINGS
mm REGULATOR
OF CANADA LTD.
Protection and Control Specialists for
Plumbing and Heating Systems and
Compressed Air Line Accessories
86 RIVALDA ROAD WESTON 742-6891
NEW YEAR GREETINGS To Our Jewish Friends And Customers' From
IMA
RNANCIAL CORPORATION 236-1864 236-1664
. Happy New Year To All Our Friends and Customers
A.C. WILD LIMITED
FIBERGLASS Distributers & Fabricators
80 SIGNET DRIVE WESTON, ONT. Tel 741-7311
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NEW YORK
The Ame community, ing Charles admiration ( Nazi methoc anti-S^emitic Gould not loir edly in moi pioneer avia Lindbergh, ' at the age o first man to across the from New V in 1927.
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Residents c of the Arava nessed a. m> scene during t Two hundred each weighin two to three being transpc Jewish Natio from En Ya Arava Valley kibbutz of Qi JNF field Set and even fui at Nevi'ot an where they • planted.
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