De Beers Narrows Losses on Price Stability and Cost-Cutting Measures
De Beers Cuts First-Half Losses as Stable Rough Prices and Cost Savings Boost Performance De Beers narrowed its losses in the first half of 2026 as more stable rough-diamond prices and aggressive cost-cutting measures improved profitability despite weaker sales. The miner reported an underlying loss of $188 million, down 23% from a year earlier, according to parent company Anglo American. Earnings before interest, taxes, depreciation and amortization (EBITDA) showed a loss of $113 million, improving 40% from $189 million in the first half of 2025....
Qatar Opens Its First Diamond Exchange
The Qatar Free Zones Authority (QFZ) has officially launched the Qatar Diamond Exchange (QDE), establishing the country's first dedicated platform for trading diamonds and precious stones. The exchange is designed to position Qatar as a new international hub for the diamond industry, featuring a secure trading floor, private negotiation suites, advanced security and surveillance systems, and on-site customs and certification services, the QFZ announced Sunday. Qatar became a full member of the Kimberley Process Certification Scheme (KPCS) in 2021, reinforcing its commitment to the responsible...
LVMH Jewelry Rebounds on Strong U.S. and Asia Demand
LVMH's jewelry and watches division returned to growth in the first half of 2026, with strong demand in the U.S. and Asia and solid performances from Tiffany & Co. and Bulgari offsetting a weaker first quarter. Revenue for the division increased 3% year on year to EUR 5.23 billion ($5.93 billion) in the six months ended June 30, the luxury group reported Monday. Operating profit rose 9% to EUR 831 million ($944.7 million). "Jewelry recorded an excellent performance in the first half of the year,...
U.S. Exempts European Natural Diamonds from Import Tariffs
Natural diamonds cut in Europe will be exempt from the latest round of U.S. import tariffs, ending the 10% duty that had applied to the sector over the past six months. The exemption is expected to benefit Antwerp, Europe's leading diamond-cutting center, according to the Antwerp World Diamond Centre (AWDC). Belgium exported $2.1 billion worth of polished diamonds to the U.S. in 2024, underscoring the importance of the American market to the country's diamond industry. Europe first secured the exemption in September 2025 following consultations...
