“Let us learn from this, while it is important to develop new new customers, it is important to maintain relationships with old customers. There is more to business than the latest fast buck. Loyalty and maintaining relationships serve our long term interests,” Martin Rapaport wrote in his new year message to the market.Even with the US providing support for the market, last year financial issues were unavoidably in focus. That was perhaps underscored when ABN AMRO (AMS:BGHEF), a major diamond market financier, reportedly terminated a credit facility to Arjav Diamonds and had authorities seal its safes in Antwerp due a $154-million debt. Arjav is counter suing for $230 million in damages.
Weakness And Caution: The Diamond Market In 2012
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