Demand will pick up once the season starts

N Anantha Padmanaban took charge as the Chairman of the All India Gem & Jewellery Domestic Council (GJC) in January 2019. He has immense hopes and confidence in the Indian jewellery sector. His motto is to ‘ensure that after the day’s business...

14 october 2019

Prospects for discovering new diamond deposits in the Arkhangelsk Province are far from exhausted

ALMAZINTECH is engaged in technical auditing and comprehensive assessment of activities performed by exploration, diamond mining and gold mining businesses in Russia and other countries, as well as carries out research and development. It employs highly...

07 october 2019

Botswana Diamonds eyes expansion of Thorny River to include Marsfontein – Campbell

Botswana Diamonds, which has a 40% stake in Thorny River, through Vutomi, said there are plans to expand the project located in South Africa to include Marsfontein once a mining permit for the latter has been awarded. Company managing director James...

30 september 2019

Diamond knife and tender system: The tight-fisted paying twice?

LLC Kristalin is the only company in Russia that manufactures microsurgical diamond blades for domestic healthcare that meet international requirements and are used in ophthalmology, neurosurgery and plastic surgery. Mikhail Zhiltsov, the company’s Deputy...

23 september 2019

Didier Giard: Stiff competition among the diamantaires is one of the factors of the price war

On September 9, 2019, the French Association of Gemmology (l’Association Française de Gemmologie, AFG) held its regular Paris Gemmological Rendez-Vous. Its organizer, Didier Giar, the head of the AFG kindly agreed to answer questions from Rough&Polished...

16 september 2019

Hong Kong retail sales register decline in May

05 july 2019
Continued global economic uncertainties and the ongoing citizen protests in the city against a proposed extradition bill derailed the retail sector in Hong Kong showing a 1.3% drop in retail sales by value and a 1.7% decline in value terms during the month of May, marking the fourth consecutive monthly decline this year. While sales of jewellery, watches, clocks and other valuable gifts dropped 2.7% year on year, other categories such as apparel, motor vehicles, electrical goods, etc. too recorded a decline. Total retail sales across all categories are now down 1.8% in value terms over the first five months of the year with a 2.2% dip in volume terms, as per media reports.
It is estimated that the outlook for retail sales will continue to be clouded in the near term. The social movement over the extradition bill as well as the US-China trade war would continue to cloud sentiment in the coming weeks. While the outlook for June remained poor, with business expected to be quieter, and that given last year’s high base, there could be a double-digit decline in overall sales. HK retail sales are expected to shrink 5% over 2019 to approximately HKD 460 bln in 2019, as the ongoing Sino-US trade dispute, equity market turbulence continue to affect consumers sentiment and actual spending. Local retail sales and mainland tourist arrivals are expected to continue on a downward trend through the rest of 2019, indicating a slowing consumer market in Hong Kong.

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