Diamond dealers working for Stargems handle uncut stones at Dubai Diamond Exchange in Dubai. Dubai, mainly a centre for rough diamonds, has grown its industry from some $3 million in 2000 by leveraging its proximity to Africa, where many diamonds are mined, and India, where 90% of the world's diamonds are polished. "The missing link here in Dubai was the Israeli presence," said Alex Peterfreund, the Dubai managing director of Antwerp-headquartered diamond trader Espeka.
REUTERS