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View the Top Lots From Christie's HK Sale of Magnificent Jewels

Consumer Confidence Remains Weak, De Beers Publishes its 'Report to Society'

May 30, 2012 6:00 PM   By Rapaport News
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In this news broadcast, view the top five lots from Christie's Hong Kong sale of Magnificent Jewels, which achieved a total greater than $80 million and was 79 percent sold by lot.

The Conference Board Consumer Confidence Index®, rose slightly in May 2011 compared with one year ago, however, the Index reading of  64.9 (1985=100), was down from April. The Expectations Index stood at 77.6, while the Present Situation Index was 45.9, both of which were improvements from May 2011.

Lynn Franco, the director of economic indicators at The Conference Board, said,  "Consumer Confidence fell in May, following a slight decline in April. Consumers were less positive about current business and labor market conditions, and they were more pessimistic about the short-term outlook. However, consumers were more upbeat about their income prospects, which should help sustain spending. Taken together, the retreat in the Present Situation Index and softening in consumer expectations suggest that the pace of economic growth in the months ahead may moderate."

The De Beers Group released its annual Report to Society, measuring its commitment to operate in a manner that reflects high standards for both supporting consumer confidence in diamonds, and the long-term licence to operate that diamond mining requires, operating responsibly is at the core of De Beers’ approach to beers

The report offers an account of the role played by  De Beers in creating value and supporting sustainable development in the countries in which it operates. De Beers increased payments to stakeholders around the world in 2011,  and supplied $1.12 billion in rough diamonds to sightholders for manufacture in southern Africa. A total of $34.7 million was dispersed to  community social investment, including contractually mandated initiatives and in-kind benefits. More than 200,000 hectares have been set aside for conservation, an area five times larger than De Beers mining footprint. Use of reused and recycled water at operations in southern African mines remained relatively constant in 2011 at approximately 46 percent of all water used, compared with 50 percent in 2010.


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Tags: Christie's, consumer confidence, Dalumi, De Beers, diamonds, jewels, Rapaport News
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