International News
US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
While Overall Buying Power Remains High, Ongoing Inflation and Rising Household Costs Mean Some Families Will Have To Watch Their Spending More Carefully Than Others
The National Retail Federation (NRF) predicts Americans will spend $1.01 trillion on holiday shopping in November and December. That is a 4.2% jump from $972 billion last year.
NRF said its forecast was based on economic modeling that incorporates consumer spending, employment, wages and ​historical retail sales data. It excludes automobile, gasoline and ​restaurant sales
​Extra Hiring: To handle the surge in shoppers, stores plan to hire 325,000 to 375,000 temporary holiday workers.
​Mixed Budget Impact: Higher gas prices and inflation could still strain some family budgets, affecting low- and high-income shoppers differently.
​Retailers expect a strong shopping season because people continue to make holiday spending a priority.
Store owners are ready to attract shoppers by offering competitive prices, deals, and choices for every budget.
While overall buying power remains high, ongoing inflation and rising household costs mean some families will have to watch their spending more carefully than others.
International News
De Beers Returns To IDE After Nine Years
Part Of A Bigger Plan Launched In July To Boost Local Trade and Bring Back International Business
De Beers has come back to Israel to show off its unpolished diamonds for the first time in nine years. Local diamond traders in Ramat Gan were invited to view the stones in person from October 13 to 15 before placing their bids online.
​Bringing De Beers back to the Israel Diamond Exchange (IDE) is part of a bigger plan launched in July to boost local trade and bring back international business.
Having a major player like De Beers return is a big vote of confidence in Israel’s diamond industry and its place on the global stage.
​The biggest perk for local buyers? They get to check out the diamonds up close without having to hop on a plane. It isn’t clear yet how many people attended or if the move actually boosted sales.
​This auction arm works differently from the main part of De Beers’ business. Most of its rough diamonds—around 90%—are sold through regular sales called “sights.” These happen ten times a year across Botswana, Namibia, and South Africa, where registered buyers inspect their set shipments before making a purchase.
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US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
De Beers Returns To IDE After Nine Years
MCX Bullion Futures Rise On Positive Momentum In Global Precious Metal Markets.
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The Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
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National News3 hours agoMCX Bullion Futures Rise On Positive Momentum In Global Precious Metal Markets.
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National News3 hours agoGlobal Gold Exports To Get Boost With New GIFT City Sourcing Rules
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National News3 hours agoThe Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
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National News2 minutes agoGJEPC, IndusInd Bank Host Webinar On FEMA Guidelines For GJ Exporters
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