The Israeli Diamond Exchange (IDE) has decided to postpone the International Diamond Week to a later date due to organizational difficulties caused by the escalation of the military conflict in the Gaza Strip, Rapaport reports.
The diamond trading event was scheduled for next week, from September 1 to September 5, but now its dates will be postponed, which confirmed to Rapaport correspondent several sources from the diamond industry.
"The diamond week was postponed for security reasons and due to insurance difficulties," said Ya'akov Kattan, vice president of the exchange.
The resumption of rocket attacks on Israeli territory by the Hamas group is not considered a significant threat to local diamond traders or foreign visitors. However, according to Kattan, the strengthening of security measures and the complication of issues related to insurance would become obstacles for the lively trade in the halls of the exchange.
"In light of the current situation, the IDE board of directors decided to postpone the International Diamond Week," said Yaakov Almor, IDE spokesman. "All buyers and interested parties have been duly notified, and now we are considering the issue for what dates the event will be postponed."