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

 

Wilde perde: Jongste vul reeds aangeval

5 ure gelede | Ministeries

Tanja Bause - Enige hoop op oorlewing van die Namib se wilde perde krimp al meer, terwyl die ministerie van die omgewing en toerisme na...

Leerlingdokters 'van swakker gehalte'

5 ure gelede | Onderwys

Henriette Lamprecht - Namibië bestee al ses jaar lank geld aan die opleiding van mediese studente in die buiteland.Volgens mnr. Cornelius Weyulu, registrateur van die...

Regulasies vir loterye en dobbel kom

5 ure gelede | Toerisme

font face="Verdana" >Francoise Steynberg - Alle rolspelers in die lotery- en dobbelbedryf moet landswye openbare werkwinkels bywoon sodat regulasies volgens nuwe wetgewing opgestel kan...

Gesondheidsmanne vas oor hospitaaltender

5 ure gelede | Ministeries

Twee administratiewe beamptes van die ministerie van gesondheid en maatskaplike dienste se kantoor op Otjiwarongo is op borgtog van N$5 000 elk vrygelaat ná hulle...

Weer, Woensdag 20 Februarie 2019

5 ure gelede | Weer

BINNELAND: Sonnig en baie warm in die verre noordooste. Elders sal dit gedeeltelik bewolk en baie tot bloedig warm wees met enkele reënbuie in die...

Twee kinders met stok doodgeslaan

5 ure gelede | Misdaad

’n Angolese burger is in hegtenis geneem ná hy twee minderjarige kinders na bewering doodgeslaan het en hul ouma ernstig gewond het. Die voorval het...

Weerwaak teen hitte uitgereik

5 ure gelede | In beeld

Die Namibiese weerkantoor sê die kanse op reën is besig om te verbeter in die noordwestelike dele van die land, asook in die Khomasstreek, waar...

Duister SA bekommer NamPower nie

5 ure gelede | Energie

Augetto Graig - Namibië se nasionale kragverskaffer, NamPower, sê Suid-Afrika se kragverskaffer, Eskom, is nie die enigste bron waarmee plaaslike krag aangevul word nie. “Namibië...

Pack Safari open toergids-akademie

5 ure gelede | Toerisme

Pack Safari het amptelik die deure van sy toergids-akademie in Windhoek oopgemaak. Die akademie bied gratis beroepsopleiding aan plaaslike, Duitssprekende toergidse met FGASA Veldgids vlak...