Washington (Jul. 18)
The diamond industry in Amsterdam, which led the world before the war in processing of these gems, is now faced with serious competition from the new Palestinian diamond industry, according to The Foreign Commerce Weekly. Total value of exports of polished diamonds from Palestine jumped from approximately $14,000,000 in 1944 to almost $24,000,000 in 1945, the article states. Shipments to the United States accounted for 70 to 88 percent of this total value.