Business News

Covid-19 Ravages De Beers Sales

De Beers’ sales and production nosedived in the second quarter as the coronavirus crushed diamond demand throughout the pipeline and forced shutdowns at several mines.

Israel’s Union Bank Sells Diamond Portfolio

Israeli finance company Peninsula has agreed to buy Union Bank’s diamond business, pledging to continue offering loans amid a shortage of credit in the domestic industry.

Face coverings in shops to become compulsory from July 24

Wearing a face covering whilst visiting shops in England is to become compulsory from July 24, the government is set to announce.

Pandora joins UNICEF and Marley family for One Love campaign

A longtime partner of UNICEF, Pandora has once again teamed up with the charity for the new One Love campaign in support of children worldwide who have been affected by COVID-19.

Lucapa Revenue Plummets in Second Quarter

Sales of rough from Lucapa Diamond Company’s Lulo mine in Angola plunged in the second quarter, as both the average price and carats sold fell sharply due to the coronavirus pandemic.

India Extends Deadline for Duty-Free Reimports

The Indian government has granted diamond companies extra time to ship polished goods back to the country after grading without incurring customs duty.

Birks Sales Rise Pre-Pandemic

Birks Group’s sales increased sharply in the latest fiscal year as three of its major retail stores reopened following renovations.

John Lewis shutters eight stores as virus accelerates its move towards online

John Lewis said today that it will not reopen eight of its stores in the UK in a bid to secure its long-term future.

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