Diamond inventories have fallen to levels justifying a ramp-up of production with signs that the key Christmas sales season will be better this year than last, according to the head of De Beers, the world's largest diamond group.
Global economic giants Japan and China Sunday 7 June pledged to throw their combined weight behind efforts to revive the struggling world economy after talks aimed at boosting trade between the two powers.
Sales of luxury goods in Dubai have dropped about 45 percent since the global economic crisis prompted local shoppers to tighten their purse strings and tourists to rethink spending sprees, a top retailer said.
Lebanese fashion designer Walid Atallah did not make sales for the first four months of the global credit crisis, but business has resumed as clients continue to crave luxury brands, and cost is no object.
British luxury brand Burberry does not feel threatened by shoppers seeking value for money in the recession, though it thinks so-called "aspirational" consumers are unlikely to return to buying expensive coats and handbags any time soon.