Articles Tagged "demand"

De Beers in 99% Loss as Diamonds Lose Their Glitter

The world’s leading diamond producer, De Beers, has reported a 99-percent dip in net profits for the first half of 2009 to just $3 million after demand for luxury goods was hard hit by the international recession. For full story, click here

Diamond Market in U.S slowed down

The U.S market has slowed with the advent of summer vacations. Summer wedding season was driving demand at retail, with wedding bands being the top seller. For full story, click here

Shares in Gem Diamonds have surged

Shares in Gem Diamonds surged 12.9 percent, building on Friday’s 20 percent gain, as investors react to a recovery in demand for rough diamonds with market conditions looking more positive. Desmond Kilalea, a diamond analyst at RBC Capital Markets, stated: They have just raised money and we know diamond prices are getting a bit better. [...]

Blue Nile posted surge in net profit

Online jewelry retailer Blue Nile Inc’s announced that it has posted better-than-expected quarterly net profit that dipped by nearly a quarter as receding demand in a slump offset waning diamond prices. For full story, click here

Small revival of Surat Diamond Industry has brought smiles back

After a slump, diamond market in Surat was abuzz with activity following slight spurt in demand for high quality diamond. Dinesh Nawadia, general secretary, Surat Diamond Association, stated: At the moment, there is requirement in the market for a grade workers who are skilled and who are good in cutting and polishing diamonds. We hire [...]