We live in a new dimension of environmental responsibility carried by business

In mid-October, Moscow hosted the VIII Ecological Forum attended by representatives from the State, large industrial companies, scientific and public organizations. The forum delegates discussed the issues related to finding a balance between the socio-economic...

Yesterday

De Beers’ GemFair delivering ‘positive impacts’ to ASM sector in Sierra Leone – David Johnson

GemFair, a pilot project developed by De Beers to create a secure and transparent route to market ethically sourced artisanal and small-scale mined (ASM) diamonds, is already delivering “important positive impacts” in Sierra Leone. Group head...

11 november 2019

Belgian-quality diamond boiling in Dubai from TRIGEM

Born in New York, David Zabinsky is CEO & Co-Founder of TRIGEM, an independent diamond service provider in Dubai. Before TRIGEM, David was Manager at Ras Al Khaimah Economic Zone, where he was responsible for securing North and South American investment...

05 november 2019

Pavel Shelkov: "Our project is an attempt to fit Russia into the global trend and create a new private company in the diamond industry"

At the end of September, Moscow hosted the Second Annual Conference, "Gold and Diamond Mining Companies of Russia and Europe." The audience showed great interest to the presentation made by diamond geologist Pavel Shelkov of Almazy Zapolyarya...

28 october 2019

The team that turns sleeping stones into beautiful polished diamonds

Maxim Zemlyakov is the Director General of ADMS OOO, a company cutting and polishing natural and synthetic diamonds in Oryol. He has been the Director General of Oryol-ALROSA since 2007. Before heading it, he worked as a grinder, cutter, instructor...

21 october 2019

Hong Kong’s jewellery and luxury product sales dipped 41% in September

05 november 2019

Hong Kong’s retail sales of jewellery, watches, clocks and other valuable gifts dropped 41% y-o-y to $463.6 mln during September, against 47% drop in August. Sales across all retail categories slipped 18% to $3.81 bln.
This is attributed to the pro-democracy demonstrations that have escalated in recent months, negatively hitting business at luxury stores. While the number of inbound tourists has declined drastically, local spending has dropped too.
According to statistics released by the Hong Kong Tourism Board, the number of tourists visiting Hong Kong was down 34% to 3.1 million in September, of which 2.4 million came from mainland China, a decline of 35% in September last year. In the first nine months of the year, retail sales of jewellery, watches, clocks and other valuable gifts declined to $6.85 bln. 
According to reports, it is expected that the weakness in the market will remain as long as the present conditions continue.

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