Diamond prospects a concern in 2019

'China little nervous'

05 December 2018 | Sakenuus
The chief executive officer of the De Beers Group, Bruce Cleaver, has informed President Hage Geingob that diamond trading prospects for 2019 will be a concern.

Speaking during a visit at State House on Monday, Cleaver said although 2018 was a good year for the diamond industry due to continuous demand, the prospects for the forthcoming year are bleak.

Cleaver explained that things are getting quite tense, largely because of the knock-on impact of the trade wars between China and the United States of America (USA). He added that it is making consumers in China “a little bit nervous”.

“The thing about diamond jewellery is that it's a discretionary purchase. You need to feel a bit positive about life before you make a big purchase, because it's a big emotional purchase, and so I'm a bit worried about that,” he said. Cleaver stressed that although he does not think the trade tariffs are really aimed at the diamond industry, the unintended consequences could be quite serious for the industry. Diamond trade for 2018 was better in the USA, not so good in India and sort of average in China, Cleaver said.

“If the Chinese don't buy, that's not good for all of us. It doesn't mean that people like diamonds less, this just means that they are nervous about their wealth and they are nervous about what is happening in 2019,” he said.

Geingob said Cleaver's analysis is “frightening, but it is good to be in the fold of the industry's goings-on, so plans can be made”.

- Nampa

Soortgelyk

 

30 jaar ná Vingerklip val

3 dae gelede | Plaaslik

Hy sal die oggend van 7 Desember 1988 nie maklik vergeet nie, vertel die bekende oudomroeper, Frikkie Wallis, wat deesdae op Swakopmund woon. “Ek was...

Kommer heers oor beheer van huur

3 dae gelede | Regering

Catherine Sasman – Die instelling van huurbeheerrade in Windhoek, Swakopmund, Walvisbaai, Oskahati en Rundu is ‘n swak deurdagte politieke besluit wat die eiendomsmark kan laat...

Windhoek sien die lig!

3 dae gelede | In beeld

Die burgemeester van Windhoek, mnr. Muesee Kazapua, het Woensdagaand, volgens die jaarlikse gebruik, die stad se Kersliggies aangeskakel. Hiermee is die feesseisoen amptelik aangekondig en...

Dagga by die kilogramme

3 dae gelede | Misdaad

Denver Kisting'n Suid-Afrikaanse man verskyn na verwagting vandag in die Keetmanshoop-landdroshof weens die beweerde besit van 244 kg se dagga.Hoofinsp. Kauna Shikwambi, 'n polisiewoordvoerder, het...

Vroue in uniform vat voor

3 dae gelede | Misdaad

Denver Kisting 'n Totaal van 249 mense is tydens die vier dae van die pas afgelope Basadi-veldtog aangekeer.Dít verteenwoordig 'n toename van bykans 50% meer...

Weer, Vrydag 7 Desember 2018

3 dae gelede | Weer

BINNELAND: Gedeeltelik bewolk en baie tot bloedig warm met enkele donderbuie in die noordoostelike en verre suidwestelike gedeeltes.KUS: Gedeeltelik bewolk en koel met miskolle plek-plek....

Kalender 7 Desember

3 dae gelede | Kuns en vermaak

Nou aan die gang» Die Rock Square Colour Festival vind môre om 10:00 by die Omulunga-stadion op Grootfontein plaas. Die fees bied ’n...

Brandstofsmokkelary uit Angola onwettig

3 dae gelede | Ministeries

Elvira Hattingh - Nie net is die smokkel van brandstof uit Angola na Namibië onwettig en bestaan daar kommer oor die gehalte daarvan nie, maar...

Kinderverkragting: Dossier nie in hof

3 dae gelede | Howe

Francoise Steynberg - Die vermeende reeksverkragter mnr. Gewen Gawa-nab (24) het Woensdag in die Windhoekse landdroshof in Katutura op twee klagte van verkragting verskyn. Die...