Luxury rental costs rocket

Toronto’s hot property market is not only causing bidding wars among buyers,  renters are also feeling the heat as the lack of supply spills over into rental market, Mansion Global reports. The prices of luxury rentals in the largest Canadian city increased 8% in 2016 year-over-year, beating other key global cities in terms of pace […]

Wealthy lost billions – Buffet

Iconic investor Warren Buffett, chairman and CEO of Berkshire Hathaway, calculates that the wealthiest investors have lost billions in search for superior returns in the market. “The wealthy are accustomed to feeling that it is their lot in life to get the best food, schooling, entertainment, housing, plastic surgery, sports ticket, you name it. Their […]

India’s lavish weddings under threat

A bill in the lower house of India’s parliament aims at putting a limit on the number of guests that can be invited and dishes to be served at weddings, in a bid to check the “show of wealth” that has become synonymous with Indian weddings. According to the bill, those who spend above Rs […]

Antonio Cecere to speak in Monaco

Antonio Cecere will be one of the star Monaco-based speakers at the upcoming Monaco Wealth Forum. Cecere Monaco specialises in alternative investment in colourless and fancy colour diamonds, precious gemstones, vintage watches and antique jewellery with strategic access to the supply chain and control of off-market reservoirs. Antonio Cecere is the Founder and Vice President of Monaco […]

Diamond sales up 30%

De Beers had its biggest diamond sale in at least a year as the gem industry restocked after the key holiday period. The company, owned by Anglo American Plc, sold $720 million of diamonds in its first sale of the year, compared with $545 million at last year’s January offering, it said in a statement […]

Brexit and other factors threaten London’s diamond quarter

London’s world famous jewellery quarter could face extinction due to soaring business rates, rent rises and the aftermath of Brexit, according to the UK’s Independent. Hatton Garden was the centre of the world’s diamond market, but traders are fighting to bring back the glory days, as they are squeezed by rising rents and the uncertainty […]

Goldman Sachs under pressure

Even as Goldman Sachs is gaining a more prominent profile in the administration of Donald J. Trump, the Wall Street investment firm is undergoing scrutiny in an investigation in a sprawling international money laundering and embezzlement scheme. Prosecutors have said that billions of dollars that Goldman raised for a Malaysian government investment fund — known […]

WeChat app a ‘must’ for luxury brands

With over 700 million users, WeChat has evolved over the years from becoming China’s most popular mobile messaging app to emerging as a mini operating system on its own that is integral to the daily lives of Chinese consumers, Jing Daily reports. The luxury industry has quickly caught on: while only about half of global […]

Diamond sales hit by India’s banknote move

Anglo American has said demand at its latest De Beers diamond sale showed a slowdown in response to India’s withdrawal of high-value banknotes, but was still higher than a year ago when commodity trade was slumping. The decision by the prime minister, Narendra Modi, to scrap 500-rupee and 1,000-rupee banknotes as part of a crackdown […]

London keeps its rich allure

Brexit may yet knock London from its perch as one of the world’s great cosmopolitan cities, but Niccolo Ricci does not seem overly concerned. The chief executive of the Italian high-end menswear retailer Stefano Ricci is this week opening its first London store, a €5m outpost on Mount Street in Mayfair — complete with imported […]