Economy
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Mar- 2018 -16 March
Hong Kong exports rebound in Q1, watches best performing sector
The latest study by the Hong Kong Trade Development Council (HKTDC) has found that the confidence level among Hong Kong exporters continues to rise, with watch exports performing especially well. The findings are based on the latest results of the HKTDC Export Index, which was published today. It found that…
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13 March
Study finds independent retail and leisure outlet growth is soaring
As multiple stores like New Look, Maplin and Toys ‘R’ Us close, a study by OnBuy.com has found that this has led to a rapid increase in the number of independent retailers. The study from the online retailer considered where multiple stores have declined in comparison to areas independent stores…
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7 March
De Beers announces rough diamond demand is strong for second cycle in 2018
De Beers has released data on its second cycle of rough diamond sales for 2018, with revenues provisionally secured at £399m. The world’s leading diamond company with expertise in the exploration, mining and marketing of diamonds announced the provisional figure of sales from its rough diamonds mined from operations in…
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Feb- 2018 -28 February
High street banks urged to continue taking in old £10 notes to ‘save’ retailers
Retailers are continuing to hand out old £10 notes despite them ceasing to be legal tender on 1 March 2018. However, the Bank of England has not asked shops to stop giving them as change, which could cause issues as £2bn effectively becomes unspendable. The British Retail Consortium said: “It…
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19 February
Hallmarking figures increase by 13% for January 2018
Hallmarking rose by an average of 13% in January 2018 compared with the same period the previous year, according to figures compiled by the Birmingham Assay Office. The average volume of silver pieces hallmarked rose considerably by 29% to 425,631 compared with 330,067 the previous year. Palladium on the other…
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12 February
Retail footfall takes a hit with Scotland showing sharpest decline
Footfall in January decreased by 1.6% year-on-year, showing a deeper decrease than the rate seen for January 2017, according to new figures. New British Retail Consortium (BRC) data showed a drop in footfall across all UK regions, with the sharpest decline being seen in Scotland (4.6 %). Despite footfall falling…
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6 February
Consumer spending grows 3.9% in January
Consumer spending increased 3.9% in January, partially driven by price increases that continued to drive uplifts in ‘essential’ spending. That is according to data from Barclaycard, which processes nearly half of the nation’s credit and debit card transactions. Spending growth on day-to-day necessities surpassed 4% for the first time in…
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6 February
Q4 gold demand recovery fails to mitigate full year declines in 2017
Gold demand rallied in the closing months of 2017, gaining 6% year-on-year in Q4 to reach 1,095.8 tonnes (t). However, overall demand for the full year fell by 7% to 4,071.7t compared with 2016, according to the World Gold Council’s latest Gold Demand Trends report. Inflows into exchange-traded funds (ETFs)…
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Jan- 2018 -19 January
December 2017 sees retail sales slump
The Office for National Statistics (ONS) has revealed that December 2017 had the weakest retail sales in over four years. The quantity of items bought in December decreased by 1.5% when compared with the stronger sales in November 2017. Although retail sales increased by 1.3% in December compared with the…
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18 January
Jewellers warned the Darwin £10 note is almost extinct
The Bank of England has warned that it will withdraw legal tender status of the paper £10 note featuring Charles Darwin at 23:59 on Thursday 1 March 2018. With six weeks to go, all jewellers that handle cash need to plan and prepare for the change. After the deadline, businesses…
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