De Beers sees diamonds recovering next year
Friday, August 02, 2024 | 1210 Views |
Hopeful: Rowley sees an uptick taking place next year
The diamond retail market has been experiencing subdued demand since the second half of last year, causing the mid-stream to build up high inventories which have in turn forced producers such as De Beers to cut production.
Presenting the group’s interim financials for the first half last week, De Beers Vice President, Paul Rowley, said trading conditions for the diamond market remained difficult with jewellery sales in major markets such as China affected by poor macroeconomic conditions.
Speaker of the National Assembly, Dithapelo Keorapetse, has this week rightly washed his hands of the mess, refusing to wade into a party squabble that has no clear leadership and no single version of the truth.When a single party sends six different letters to the Speaker’s office, each claiming to be the authoritative voice, it is not just confusion, but an embarrassment.Keorapetse is correct to insist on institutional boundaries. Parliament...