News
Botswana, De Beers suitor near deal on ownership stakes – report
Botswana and a consortium leading the race to acquire De Beers are close to agreeing on their future ownership stakes, potentially clearing the way for Anglo American to exit the diamond miner, according to Bloomberg.
Yesterday
Petra Diamonds subsidiary ordered to wind up over unpaid tax
Petra Diamonds has confirmed that a winding-up order has been made against its wholly owned indirect subsidiary, Petra Diamonds UK Treasury Limited (PDUK Treasury), following a petition by HM Revenue & Customs.
Yesterday
LVMH’s watches & jewellery division revenue rose 8% in the first nine months of 2026
The Watches & Jewellery division of the French conglomerate LVMH, home to over 75 world-renowned luxury brands, recorded an 8% organic revenue growth during the first nine months of 2026 thanks to strong jewellery demand, despite a challenging economic...
Yesterday
Russian companies to increase investment in PGM exploration by 17% in 2026
In 2026, Russian companies will increase their investment in the exploration of platinum group metals (PGM) by 17%, with the total reaching nearly 2 billion rubles ($23 million), the Russian Ministry of Natural Resources and Environment...
Yesterday
Diamond jewellery sales in India set to increase 15% - 20% on sharp rise in gold prices
Indian diamond jewellery retailers anticipate a 15% - 20% increase in sales during the 2026 festive season, driven primarily by the sharp rise in gold prices which prompts consumers to consider diamond jewellery in more affordable price range...
14 october 2026
U.S. Malls May Be Hit Hard by the Coronavirus
20 march 2020
(jckonline.com) - Since the COVID-19 outbreak began last year, shopping malls in China have been all but deserted. And a new study is forecasting that U.S. malls may soon see a sharp decline in traffic, too, as the coronavirus fans out across America. A report from Coresight Research found that U.S. consumers could change their shopping habits dramatically in the coming weeks or months, impacting retailers and the larger economy in ways that will be difficult to recover from.
Taxation should reflect economic realities
19 march 2020
(namibian.com.na) - The productive industry and the government should start having serious conversations around taxation, especially when economic activities dry up, to ensure that businesses are sustained and job losses are minimised. This, according to De Beers chief executive officer Bruce Cleaver, would give life to businesses that in some instances just need some tax assistance to keep afloat. Cleaver said this late last month in an exclusive interview with The Namibian while visiting the country.
Diamonds have a dirty secret. But there's a climate-conscious solution
18 march 2020
(theguardian.com) - Alexander Weindling has a fading, black and white framed photograph on the desk of his New York City office. It’s of his grandfather, wearing a hat and suit, posing more than a century ago with some of the workers of a diamond mine he oversaw in what was then known as the Belgian Congo. The mining of diamonds in Africa led to a human rights disaster from colonial times onwards and Weindling, a third-generation diamond and jewelry merchant, uses the incongruity of this photo in the white minimalism of his Tribeca office as a mental spur. That era of diamond mining was “so devastatingly ugly Isis will start looking like good guys,” says Weindling. “It was dreadful. It was criminal. It was unforgivable.”
Diamond jewellers get time till May to procure contracted rough stones
17 march 2020
(economictimes.indiatimes.com) - Indian diamond jewellers have until end May to lift the contracted volume of rough stones from Russian major ALROSA, which has relaxed the deadline for purchases in the aftermath of the Covid-19-induced demand slump globally. ALROSA has allowed the Indian trade to lift 40% of the contracted volumes initially even as export shipments of polished diamonds from India declined by an identical proportion last month.
The Luxury Trap: Why it’s a Mistake to Define Luxury By Price
17 march 2020
(jingdaily.com) - Alexandre Arnault, CEO of the luggage brand Rimowa and the son of LVMH founder Bernard Arnault, stated in a series of recent interviews that he prefers not to use the term “luxury” as it’s too connected to price. I believe this is true, and the word is often used far too loosely. Today, companies slap a high price tag on almost any type of product as a way to label it “luxury.” Yet this strategy almost always fails.
