US retail to grow in 2020, NRF predicts
US retail sales will grow 3.5% to 4.1% this year, despite trade tensions and the spreading coronavirus epidemic, according to the National Retail Federation (NRF).
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De Beers lets sightholders defer Chinese goods
De Beers has allowed clients to forgo buying certain rough diamonds at the week’s of 24 February sight, as the coronavirus outbreak has raised concerns about a polished glut.
ALROSA meets with clients ahead of March trading session
Press release – ALROSA met in Antwerp with its long-term clients and representatives of the Antwerp World Diamond Center (AWDC) to discuss the current market situation and potential scenarios, as well as the needs of rough diamond buyers – the key issue for whom was to receive assurances of purchasing flexibility.
Activist Livia Firth Documents ‘The Diamonds of Botswana’
One well-known sustainability champion recently visited the diamond communities in Botswana and documented her journey.
De Beers optimistic after 2019 earnings slump
De Beers gave a positive outlook for 2020 due to an improvement in the industry’s inventory situation, despite growing concerns about Chinese demand.
Polished diamond prices rise in January
Wholesale polished diamond prices rose in January in response to improved demand and lower wholesaler inventories. The rise in wholesale polished diamond prices started in December, as wholesalers witnessed a late rise in demand from US retailers.
De Beers CEO Bruce Cleaver talks sales, sights, and patent suits
De Beers chief executive officer Bruce Cleaver talked with JCK Thursday 20th of February, following the release of his company’s preliminary financial results for 2019. The results were, to no one’s surprise, not very good, with total revenue falling 24% and rough diamond sales falling 26%.
Alrosa puts lower-value mines on hold
Alrosa has paused production at certain lower-value deposits as the diamond industry continues to face an inventory imbalance and external challenges, its CEO said.
Pink diamond prices +116 percent in past decade
Over the past 10 years, fancy color diamond prices have increased 77 percent. That’s according to newly released information from the Fancy Color Research Foundation (FCRF).
Virus plagues Chow Tai Fook operations
Chow Tai Fook will temporarily suspend operations at more than 40 locations in Hong Kong and Macau following a rise in the coronavirus epidemic.
How the Coronavirus is impacting the jewelry industry
Global health officials estimate the coronavirus outbreak is responsible for 1,300 deaths worldwide as of Thursday the 13th, and its effects are rippling through the global economy.
GJEPC: Coronavirus may lead to payment delays
India’s diamond industry has asked banks and the government for help with its credit difficulties, as the coronavirus crisis has left clients in China and Hong Kong unable to pay bills. The Gem and Jewellery Export Promotion Council (GJEPC) wrote to 30 lenders and the commerce and finance ministries Tuesday 11, requesting more time to […]
