The main factor determining the current state of the diamond market is the global financial crisis. The situation on the leading financial and stock exchanges is still fairly dramatic. The labour markets in the US, Europe and Japan are also not in the best shape. Under these circumstances the availability of credit for diamond market players has declined drastically.
Alexander Matveyev, Member of the Federation Council of the Russian Federal Assembly, First Deputy Chairman of the Federation Council Committee on Northern Territories and Indigenous Minorities, Mining Engineer, Academician of the Russian Engineering Academy, Doctor of Economic Sciences, Professor, worked as Chief of Industry Department of the Yakutsk Region Committee of the CPSU, Chairman of the Yakutia Planning Committee, Vice-President and First Vice-President of ALROSA.
Valery Vladimirovich Rudakov – chairman of the Board of Directors of CJSC Polyus, chairman of the Committee for precious metals and precious stones of the Chamber of Commerce and Industry of the Russian Federation. In 1999-2002 - Deputy Minister of Finance of the Russian Federation and head of the State Repository for Precious Metals.19.08.2008
Nordstrom Inc. reported a 21 percent drop in second quarter profits to $143 million. Sales fell 4.3 percent to $2.29 billion in the quarter ending August 2, 2008. Same-store sales fell 6 percent, but the retailer noted strong sales at its discount concept Nordstrom Rack where same-store sales rose 6.3 percent, RAPAPORT reported.
Sales for Nordstrom Direct, its e-commerce division, increased 14.6 percent.
Nordstrom downgraded its fiscal year earnings to a range of $2.55 to $2.65 per share, from a forecast of $2.65 to $2.80 per share, citing a challenging retail environment.
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