De Beers only selling Elizabeth Bay Mine in Namibia, move to sustain operations beyond 2019

Namdeb Holdings, a 50/50 joint venture between the Namibian government and De Beers is not selling Daberas, Sendelingsdrift and Southern Coastal mines in the southern African country. It had been alleged that Namdeb was planning to close and offload...

Today

Colorless diamonds as an investment class are evolving beyond their traditional ability to preserve, relocate and pass on wealth

Antonio Cecere, the Founder & VP of Monaco Diamond Exchange dons many caps simultaneously. Currently, he is the President of Geneva Diamond Exchange, the President of Diamond Investment Club and the Principal of the Cecere Group. Antonio’s ability to...

15 april 2019

Jewellery with diamonds, even with small ones, sells better than without diamonds

The Yakut jewellery firm Kierge was set up 25 years ago on the basis of the jewellery workshop PKF Yakutrembyttekhnika which, in its turn, was founded way back in the 1970s. Over this period, Kierge turned into a well-established company successfully...

08 april 2019

Lucapa’s Wetherall on the past, present and the future

Lucapa Diamond chief executive Stephen Wetherall recently attended a mining conference, in Cape Town South Africa, where he met Rough & Polished’s Mathew Nyaungwa and granted him an exclusive interview. They discussed Angola’s first international diamond...

01 april 2019

India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

A go-getter at heart, with an attitude to match, Pramod Kumar Agrawal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a man in a hurry. He has not left any stone unturned to bring back the Indian gem & jewellery...

25 march 2019

Hong Kong’s sales of jewelry, watches, luxury goods up in October

06 december 2018
Sales of jewelry, watches, clocks and other valuable gifts in Hong Kong increased by 3.3% on the year in October to $878 mn, according to Hong Kong’s Census and Statistics Department.
The rise was higher than that recorded in September when Typhoon Mangkhut hit Hong Kong and the increase in jewelry sales was 2.2%.

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                                 Image credit: Chow Tai Fook

In October, the total number of tourists visiting Hong Kong grew 12% to 5.9 mn, according to the Hong Kong Tourism Board. Of those, 4.7 mn came from mainland China.
For the first 10 months of this year, the sales category increased by 18.2% to $9.10 bn.
Overall retail sales in Hong Kong rose by 6% on the year in October to $5.08 bn. For the January-October period, there was an increase of 10.6% to $51.3 bn.
Growth in retail sales in October was higher than in September due to an increase in visitor arrivals and continued income growth.
The higher rates of tourism, as well as the positive employment market and rise in income levels, should lead to continued growth in the sector. However, external uncertainties and a weaker asset market could potentially affect consumer sentiment.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished