Diamonds are not forever - and neither are the checkouts
The diamond industry in Israel is at an unprecedented low, Tiv Taam begins a move to cancel all checkouts, Apple ignores AI noise, the wave of layoffs still ahead in local high-tech, and the dive of the shoe brand To Go | The Economic Summit – the most viewed articles of the week
"The Economic Summit": ynet Economics brings you the most viewed articles of the week, those that made the most headlines, alongside our personal recommendation — one article that flew under the radar and deserves special attention.
Tiv Taam to cancel all checkouts
The Tiv Taam chain will cancel all checkouts in its branches, including self-service ones. In the first stage, ten branches will move to a new format: customers will scan barcodes independently and pay at a terminal. "Maybe we will leave one or two checkouts for those who have difficulty," said owner Hagai Shalom. The first branch to undergo the change is Ramat HaHayal, followed by Poleg in Netanya, eastern Rishon LeZion, Rehovot, Ashdod, Beersheba, and more. "We are missing at least 100 cashiers," added Shalom. The cleared space will allow for the opening of "Mizrah u-Ma'arav" stores, the chain's Asian brand.
Diamond industry at a historic low
Israel's diamond exports from the beginning of 2026 to the end of June amounted to 2.4 billion dollars — the lowest figure in the industry's history, and only a third of the exports in the peak year, 2015. Total trade volume dropped to about 4 billion dollars, compared to 12 billion in peak years. Factors include the rise of Dubai as a trading center, the penetration of lab-grown diamonds, a decrease in demand from China, and a 10% tariff imposed by the Trump administration on diamond imports to the USA. Diamond Exchange President Nissim Zuaretz has announced his resignation. "If the situation does not change, it will be possible to say goodbye to the Diamond Exchange in Israel," warned Zuaretz.
Apple overtakes Nvidia
Apple briefly crossed a market value of 5 trillion dollars, reclaiming the title of the world's most valuable public company. The stock jumped by almost 60% in the last year, while Nvidia wiped out about a trillion dollars from its value due to a sell-off in the AI sector. Unlike competitors, Apple chose to rely on Google technology for its new services, saving heavy capital expenditures. Strong iPhone 17 sales and a 31 billion dollar revenue in the services sector supported Apple's jump.
Another wave of high-tech layoffs?
Layoffs at Monday have raised questions about the future of SaaS companies. The threat lies in the business model: AI tools reduce the number of users at client firms, leading to lower annual subscription fees. Investors are losing faith in companies whose stocks have lost over 30-40% since the beginning of the year. Venture capitalists suggest focusing on "vertical" companies with deep expertise in specific fields rather than "horizontal" ones.
To Go shoe brand closes 10 branches
The To Go chain, which peaked at 70 branches, has undergone significant contraction. After a deal with Harel Wizel to sell ten branches to be converted into Fox Group brands, the chain will number only 34 branches, with plans to drop to 26. Owner Meir Najibi cited rising rent and operational costs as reasons for the efficiency drive. Meanwhile, ALDO will open a new outlet store in the Hutzot HaMifratz complex in Haifa.
