OTHER NEWS - July 7, 1992
From Times Staff and Wire Reports
Diamond Sales Slip: The De Beers diamond group said sales of rough stones by its London-based Central Selling Organization dropped in the first half of 1992 to $1.79 billion as world economies remained subdued. First-half sales by the CSO, which markets more than four-fifths of the world’s uncut diamonds, were 3% lower than in the second half of last year and down 14% from the first half of 1991. De Beers of Johannesburg, South Africa, described the sales as satisfactory given difficult trading conditions, which forced the CSO to restrict offerings to clients at the start of the year in order to stabilize the market, its traditional role.
