Daily Management Review

De Beers increases diamond sales for two weeks


De Beers saw a 9% rise in diamond sales in the last two weeks.

According to the global diamond corporation De Beers’ preliminary reports, the company increased its diamond sales for the second business cycle of this year (February 20–March 7) by 9% compared to the prior cycle to $495 million.

The year's first economic cycle was in effect from December 16 to December 31. There were $454 million in sales during that time.

In the second economic cycle, De Beers' diamond sales decreased by 24% on an annualized rate.

“According to our sales projections for the year, I'm pleased to see a steady market for rough diamonds,” said De Beers CEO Al Cook.

source: cnn.com