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Israel’s Production of Diamonds Rising; May Reach Half of Belgium’s

Israel’s production of gem diamonds is now approximately one-third that of Belgium and may rise to half of Belgium’s production in the not-too-distant future, it was reported here today in an economic survey by Barclay’s Bank Overseas. The country’s diamond output, which increased by 40 percent in 1958, is still rising rapidly, according to the survey.

The survey also reported that the Palestine Electric Corporation plans to spend about 50,000,000 Israel pounds ($28,000,000) for each of the next five years to meet an anticipated increased demand for electricity from industry, agriculture and household requirements. This represents some five to six percent of the anticipated national investment during the period.