Diamond giant Rosy Blue sees a challenging US market this year due to the protracted global credit crunch, but its chairman says demand in emerging markets such as the Gulf Arab region will add extra sparkle to sales. The Belgian-based diamond merchant said sales last year totalled $120mn, up 57.9% from 2006. It expects this year’s sales to surge to double to $250mn. “Demand in the US will slow down by about 15% this year, but demand from elsewhere will offset the sales drop,” chairman Harshad Mehta told Reuters on Monday.
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Tags: global credit crunch, harshad mehta, year
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