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  • Egypt economy on the edge ahead of presidential vote

  • CAIRO (Reuters) - Wasfy Amin's jewelry shops in the heart of Islamic Cairo ran into trouble when a street revolt scared away tourists last year. Part of his business is growing again, but not a part that inspires optimism in Egypt's flailing economy. His factory on the capital's desert outskirts now melts bangles, rings and necklaces - heirlooms sold by impoverished families - into rough ingots of gold and silver that are sold to banks for refining in Switzerland. "There are many people with no work now in Egypt, or with work but no salaries. ...
  • Swatch eyes single or double digit sales growth

  • BIENNE, Switzerland (Reuters) - Swatch Group , the world's biggest watchmaker, is expecting high single or double-digit sales growth this year as demand from China and for middle and lower-price products holds up in the face of global economic uncertainty. "We are trying to beat the 8 billion Swiss franc ($8.51 billion) mark this year, which would translate into another record year", Swatch Chief Executive Nick Hayek told reporters on the sidelines of the company's annual general meeting on Wednesday. The company had sales of 7.14 billion francs last year. ...
  • Strong Asia demand keeps Richemont optimistic

  • ZURICH (Reuters) - Richemont, the world's second-largest luxury goods group, said on Wednesday it was cautiously optimistic for the future despite the unstable economic environment as it posted forecast-beating results, driven by strong Asian demand. The Swiss maker of IWC watches and Cartier jewellery said net profit for the year ended March 31 rose 43 percent to 1.54 billion euros. Analysts in a Reuters poll had expected a figure of 1.37 billion on average. Sales rose 29 percent to 8.87 billion euros, beating an average forecast of 8. ...
  • Historic diamond sold for $9.7 million at auction

  • FILE - In this May 2, 2012 file photo an employee shows the Beau Sancy diamond, 34.98 carat, at Sotheby's auction house in Zurich, Switzerland. Marie de Medici wore it at her coronation as Queen Consort of Henry IV in 1610, and now the Beau Sancy diamond is a lavish accessory owned by an anonymous bidder who paid US $9.7 million (7.6 million euro) for it at Sotheby’s auction in Geneva Tuesday May 15, 2012. The spring auction season for jewelry and watches is upon Geneva, where elegant lakefront hotels fill with well-heeled buyers and bidders in a scene far removed from the debate over European austerity. (AP Photo / Keystone, Alessandro Della Bella, File)Marie de Medici wore it at her coronation as Queen Consort of Henry IV in France in 1610, and now the Beau Sancy diamond is a lavish accessory owned by an anonymous bidder who paid $9.7 million for it at Sotheby's auction.



  • 'Royal' diamond sells for $9.7m

  • A 35-carat diamond passed among Europe's royalty for four centuries, the Beau Sancy, sells for twice its reserve at auction in Switzerland.
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