Petra reduces net debt to $208mln

Petra Diamonds has reduced its consolidated net debt to $207.6 million as of 30 September 2021, from $228.2 million at the end of June 2021. The company’s debt was $692.3 million as of 30 September 2020.


Paul Zimnisky forecasts lab-grown diamond jewelry market will almost double by 2025

In the five years since larger, higher-quality lab diamond jewelry began hitting the wider consumer market, production technologies have vastly improved, the number of suppliers has greatly multiplied and many retailers have begun to test, and in some...


Gem Auctions DMCC to debut rough diamond tender in November

Gem Auctions DMCC, founded by mining entrepreneur Alan Davies, will hold its first-ever rough diamond auction in Dubai, UAE next month. For its first auction, Gem Auctions DMCC will present over 100,000 carats of rough diamonds with an estimated total...


Angola earns over $5mln from semi-industrial diamonds in two years

Angola raked in about $5.1 million revenue from semi-industrial diamonds between March 2019 and September 2021, according to media reports.


De Beers Forevermark sees strong demand in South India this festive season

With the onset of the festive season, De Beers Forevermark is upbeat about the demand for diamonds in South India. The brand has already witnessed a huge response post the second wave and is looking forward to growing over 35-40 per cent over the next...


Good tidings for retailers: Mastercard SpendingPulse anticipates U.S. holiday retail sales to grow 7.4%* in 2021

14 october 2021

( - Consumers and brands alike are gearing up for what’s anticipated to be the most wonderful holiday retail season on record. According to Mastercard SpendingPulse™, which measures overall retail sales across all payment types including cash and check, U.S. retail sales are anticipated to grow 7.4% excluding automotive and gas. Consumers are expected to spend online at even higher rates (+7.6%) than last year, while in-store sales are also expected to see a rebound—growing 6.6%** compared to 2020. With early holiday shopping slated to begin in October again this year, retail sales for the “75 Days of Christmas,” are anticipated to grow 6.8% excluding automotive and gas, and e-commerce sales to grow by 7.5% compared to the same time period last year.