Economy
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Apr- 2021 -29 April
Global gold jewellery demand climbs 52%
The volume of gold jewellery purchased by global consumers has reportedly increased by 477.4 tonnes (t) year-on-year for Q1 2021, representing an annual rise in value of 52%. According to the World Gold Council (WGC), the increase in demand can be attributed to a decline in the price of gold…
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19 April
Hallmarking rises 10% in March
The total number of pieces hallmarked in March 2021 has increased 10% year-on-year, according to the latest figures from the Birmingham Assay Office. Total hallmarked pieces climbed from 448,583 in March 2020 to 493,423 this year, representing a swing from the 28.8% year-on-year decline seen in February 2021. March’s figures…
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Mar- 2021 -17 March
Hallmarking falls 28.8% in February
The total number of pieces hallmarked throughout February 2021 decreased 28.8% when compared to last year, according to the latest figures from the Birmingham Assay office. Total hallmarked pieces dropped from 536,656 in February 2020 to 375,183, with a year-on-year rate of decline lower than the 45.5% seen in January…
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1 March
Chancellor to unveil £5bn high-street support package
Chancellor Rishi Sunak is expected to offer over 700,000 retail, hospitality and other businesses grants of up to £18,000 as part of a £5bn rescue package to be included in his Budget speech on Wednesday (3 March). The new ‘Restart Grants’ will be directly distributed from local authorities from April and will…
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Feb- 2021 -24 February
Hallmarking plummets 45.5% in January
The total number of pieces hallmarked during January 2021 plummeted 45.5% against last year, according to the latest figures from the Birmingham Assay office. Total hallmarked pieces fell from 685,768 in January 2020 down to 373,720, with the rate of decline significantly lower than figures recorded in December 2020, when…
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17 February
Scotland extends rates holiday for another year
The Scottish government has confirmed that it is extending 100% of its business rates relief for the hospitality, retail, leisure and aviation sectors for another year. Finance secretary Kate Forbes confirmed the extension earlier this week (16 February) in Holyrood, putting pressure on Rishi Sunak to match the extension in…
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16 February
Fancy Colour Diamond prices dropped in 2020, reports FCRF
The Fancy Colour Research Foundation (FCRF) has announced the Fancy Color Diamond INDEX results for 2020’s fourth quarter, showing a slight drop in prices over the quarter. Overall, Fancy Colour diamonds decreased by 1% over the year with the industry showing resilience despite the pandemic. The Yellow category of diamond…
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10 February
Diamond market to recover fully by 2024
The diamond supply chain is set to return to pre-pandemic levels between 2022 and 2024, according to Bain & Company’s annual Diamond Industry Report. The report, which was carried out in cooperation with the Antwerp World Diamond Centre (AWDC), revealed that Chinese demand for diamonds is set to bounce back…
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1 February
BRC chief calls for rates extension as vacancies rise by 13%
Helen Dickinson, chief executive of the British Retail Consortium (BRC) has urged the government to extend business rates relief beyond April as the number of retail stores lying vacant rose to 13.7% in Q4 2020. The plea follows figures published by the consortium which show that all retail locations saw…
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Jan- 2021 -25 January
Lucapa revenue drops 42% in Q4
Lucapa Diamond Company has seen its revenue drop significantly in the fourth quarter as the miner delayed sales while it negotiated a partnership with manufacturer Safdico. Overall, revenue for the year fell by 42% to $32.1m (£23.4m). Sales from Lulo fell 32% year on year to $6.6m (£4.6m) for the…
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