News
De Beers transfers initial BWP 1 billion contribution to Botswana’s Diamonds for Development Fund
De Beers has transferred its initial BWP 1 billion ($73 million) contribution to the Diamonds for Development Fund, marking a major milestone for the initiative designed to support Botswana’s long-term economic diversification.
Today
Valterra Platinum's refined PGM output falls 41%, sales decline 27%
Valterra Platinum's refined platinum group metal (PGM) production decreased by 41% to 576,900 ounces for the third quarter ending 30 September 2026.
Today
Swiss watch exports rise 11.7% in September, driven by sharp U.S. shipments increase
In September, the value of Swiss watch exports grew by 11.7% compared to the same period last year, reaching 2.226 billion Swiss francs ($2.74 billion). This marks the fourth consecutive month of growth.
Today
New $1.8bn copper smelter under construction in Kazakhstan
Construction of the Aktogay copper smelter has begun in the Abai Region of eastern Kazakhstan. The $1.8 billion project is being implemented by the KAZ Minerals group.
Today
Anglo American appoints Anne Wade as senior independent director
Anglo American has appointed Anne Wade as senior independent director, effective immediately.
Today
Debt is capitalism’s dirty little secret
06 july 2009
Just why is there so much debt in the Anglo-Saxon world? Bankers and regulators know well that it is in nobody’s long-term interests to have allowed borrowing to escalate to a position where the US now owes far more, as a multiple of the economy, than at the start of the Great Depression.
Watch batteries can help keep your business ticking
03 july 2009
Think there's no money in watch batteries? Wal-Mart Supercenters changed 18 million batteries last year, sources say. At a wholesale cost of roughly 40 cents apiece, charging $4.24 retail for each battery delivers a gross profit of $69 million.
Chinese exports could crush fragile markets
02 july 2009
The argument for a stronger renminbi is even more compelling as a result of these changes. Chinese low-cost producers compete more directly with producers in emerging economies, increasing the risks of factory closures and job losses. Moreover, many governments in the emerging markets do not have sufficient fiscal resources to pay unemployment benefits or to fund economic reform.
When Cartier Was Just for the Likes of Liz
01 july 2009
Carriage-trade luxury went south a while ago, and with it went the carriage trade itself, says the New York Times. On the way out, it passed a new class of people who — although they might never be able to afford an apartment at 740 Park Avenue or a summer place in Dark Harbor — had acquired both the ability and the hankering to purchase themselves little nothings from Vuitton, Chanel or Dior. And thus, even in a recession, the client most crucial to luxury goods purveyors is no longer a Rockefeller but a Real Housewife of New York.
Gareth Penny: “The Bounce Back in Rough Prices Will be Dramatic”
30 june 2009
Is De Beers in financial trouble? Will DTC box discounting become a permanent feature? Will it now resort to tendering and selling rough to Arab sheikhs? These are but a few of the wide range of questions posed in an exclusive interview with the Managing Director of De Beers Group of Companies, Gareth Penny, at the company’s London offices. (Part 2)
