ALROSA's net profit for the first quarter fell 87% y-o-y

ALROSA’s net profit for the 1st quarter of 2020 under IFRS amounted to 3 billion rubles, which is a 74% drop from 11.7 billion rubles compared to the previous quarter and fall of 87% compared to last year due to non-cash factors.

Yesterday

Indian diamond manufacturers urged not to import rough diamonds in June

At present, about 30 per cent diamond manufacturing units in Surat have resumed operations, due to shortage of workers.

Yesterday

Angola H1 diamond revenue falls

Angola’s diamond revenue has dropped in the first half of the year, according to the governor of the National Bank of Angola, José de Lima Massano.

Yesterday

ALROSA’s Severalmaz cuts production

PJSC Seralmaz, part of the ALROSA Group, will reduce production at its Lomonosov Division in 2020 due to the closure of the Group’s key sales markets and a slump in demand for diamonds amid the coronavirus pandemic.

Yesterday

Titan to record decreased profit for 1H due to COVID-19

Tata Group company Titan recently announced that the company’s operating cash flow was negative in the last two months due to virtually zero sales in the first six weeks of lockdown.

Yesterday

How Trade War Affects U.S. Consumer Goods Companies and Beyond

11 june 2019

(jingdaily.com) - On May 14, the U.S.-China trade war entered into a full-fledged battle after the Chinese government took retaliatory measures against the latest round of tariff hikes by the Trump Administration. Beijing announced it would raise its own tariffs on the total value of $60 billion on exported goods from the United States from five percent to as high as 25 percent, starting June 1. A variety of targeted products — agriculture, metals, apparel, footwear — are on the list, according to a statement published on the official portal of the Chinese government.