ALROSA holds a conference call on the results of 2017 under IFRS

During the conference call on ALROSA’s results in 2017 in line with the IFRS, the diamond miner's management informed there would be no changes in the dividend policy to be followed by the company in 2018 and dividends would not exceed 50% of...


Angola-based Catoca loses potential revenue of $450m due to economic crisis – report

Sociedade Mineira da Catoca deputy director-general, António Galiano said the diamond mining company lost a potential revenue of $450 million over the last few years due to the economic and financial crisis that Angola is experiencing.


Angola’s Lulo diamond sales drop 38% to $31.6 m in 2017

Angola’s Sociedade Mineira Do Lulo (SML), which is operated by Lucapa Diamond in partnership with Endiama and Rosas & Petalas, registered a 38-percent drop in diamond sales to $31.6 million last year compared with $51 million, a year earlier...


Zim police chief professes ignorance over Marange diamond mine

Zimbabwe Republic Police (ZRP)’s new commissioner-general Godwin Matanga said he doesn’t know that they own Gye Nyame diamond company in Marange.


Bharat Diamond Week participants to benefit from new direct flights to India

A new direct flight between Israel and India will give a boost to the first-ever edition of the Bharat Diamond Week at the Bharat Diamond Bourse (BDB) in Mumbai, India.


Chinese and Indian Consumers Want Different Things From Luxury

12 march 2018
(Jing Daily) - “The world is changing, the economy is changing, the geography of luxury is changing,” said François Le Troquer in 2012, back when he was managing director of Cartier UK. The comment came at the official launch of a Cartier short film in which the Cartier panther travels across China and India, big developing economies whose luxury markets have since evolved in different directions. India and China opened their doors to foreign retail in the late 20th century and both countries slapped a high import duty and tax on luxury goods, making the products much costlier to buy domestically.  While in the last three decades, Chinese luxury sales have risen to occupy the number one spot worldwide at 32 percent, India lags behind, one of the last big frontiers with vastly untapped potential for luxury consumption. Currently just seven percent of the Chinese luxury market, the Indian luxury market is growing at a Compound Annual Growth Rate (CAGR) of 25 percent. The country has added around 500 new ultra high-net-worth individuals (those with investable assets of at least $30 million excluding personal assets and personal property) annually over the past decade, and over the next decade that number will double to approximately 1,000 per year. Undoubtedly both countries’ luxury markets and broader economies are at different stages, contributing to different perceptions and attitudes towards luxury. Here are four key differences.


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