Sodiam, Angola's state-owned company that sells diamonds exported rough diamonds in the amount of 31.6 billion kwanzas ($ 191 million) in the first quarter of this year, according to data released by the Ministry of Finance.
Edition Macauhub reports that Sodiam become the second largest exporter in the country in the reporting quarter.
The company was also the only non-oil company, made the list of 10 biggest exporters in the first quarter of this year.
In 2015, Angola exported rough diamonds at $ 1.3 billion, according to the Kimberley Process.
At the same time, the Angolan oil company Sonangol has become the largest earner of foreign currency in the country and exported crude oil worth $ 125.9 billion kwanzas ($ 755 million) in the period from January to March.
At the same time it is - a drop of 54 percent compared to the same period last year, reflecting a sharp decline in world oil prices during the first three months of 2016.
Diamond point as a possible main export article in Angola, if crude oil prices will continue to roll on a downward trajectory.
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The famous phrase at the conclusion of the transaction "Mazal u'Bracha" has until recently been the norm in the Israeli diamond industry, but now in the diamond exchange in the country drew the attention of law enforcement. They carry out their own investigation activities diamantaire with years of experience Hanan Abramovich (Hanan Abramovici). Thus, the age-old system of diamond trade exposed forced changes, reports Financial Times.
Abramovich was arrested by Israeli police on April 20 on suspicion of defrauding other traders, and the aggregate amount of their losses amounted to about $ 65 million. The charge diamantaire yet been charged.
Although this incident may have a direct impact on the traders, who allegedly lost money at stake is the very future of the extensive diamond industry in Israel, with its deep roots in the history of the Jewish people. The inability of most diamond trade system to solve the problem has prompted traders to file a complaint with the police, although this happens rarely, they say in the FT.
However, the case Abramovich raised uncomfortable questions, such as why a country with a higher credit rating and reputation of a solid business regulation allows you to save the weak regulation in the diamond industry?
Yoram u'Dvash (Yoram Dvash), newly elected president of the Israel Diamond Exchange, made a commitment to open up the market and provide a full police investigation. According to the internal code of conduct on the stock exchange, diamantaire face disciplinary action in the event that another trader submits leadership Exchange legitimate complaint.
At the present time, even though many transactions still occur in words and handwritten receipts, traders began to document the transaction. Deceived partners Abramovich presented police documents confirming illegal operations.
Keeping the diamond business in Israel in 2016 is more complex due to the large volume of regulation, the need for submission of documents, compliance with local and international regulations. Polished prices have fallen by almost a third from 2014. Thus, anyone who wants to deal with diamonds, but do not want to communicate with the financial documentation, is doomed to failure. About 2,500 traders on the stock exchange are in a quandary, trying to survive in the market.
In September, Israel will come into force a new law on money laundering, which would prohibit cash transactions and require greater disclosure. Traders who are diamonds worth more than NIS 50,000 (about $ 13,000) will be forced to disclose information on transactions, as well as any two people who trade in diamonds worth more than 50 thousand shekels a month.
The current situation in the Israeli diamond trade can hardly be called easy.
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