UAE is planning fastest-recovering economy in the world post-Covid-19: Sheikh Mohammed; GJEPC representation meets Finance Minister to raise concerns about Equalisation Levy (EL) on diamond trade

Market News

UAE is planning fastest-recovering economy in the world post-Covid-19: Sheikh Mohammed

According to the report, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said that the UAE is striving to have the fastest-recovering economy in the world and the most stable and diversified economy in the long term. Sheikh Mohammed also said that the UAE already boasts a strong economy, is confident about its decisions and has a strong belief about its future. His Highness' remarks came while chairing a meeting with Ministry of Economy's task force to review the ministry's post Covid-19 plans.

GJEPC representation meets Finance Minister to raise concerns about Equalisation Levy (EL) on diamond trade

Smt. Nirmala Sitharaman, Hon’ble Minister of Finance, Govt of India in a representation meeting held with The Gems and Jewellery Export Promotion Council of India (GJEPC), clarified that the e-trade of rough diamonds does not attract 2 percent Equalisation Levy and assured the representation that a clarification will be done on this soon. The Gem and Jewellery Export Promotion Council of India (GJEPC), the designated apex body by government of India for the promotion of gems and jewellery, met Finance Minister Smt. Nirmala Sitharaman, today in the Capital City New Delhi. A delegation led by Chairman, GJEPC Mr. Colin Shah represented the implications arising on the diamond segment due to expansion of Scope of Equalisation Levy (EL).

L’azurde transforms with share of Retail and E-Commerce Sales rising rapidly

L’azurde Company for Jewelry (“L’azurde”, “the Company”), has recently announced its financial results for the second quarter of 2020, while making robust strides in achieving its bold commitment towards the transformation journey on which it proactively embarked over a year ago. Group operating revenues for the second quarter of 2020 amounted to SAR 49.0 million, generating a net loss of SAR 66.2 million in the second quarter of 2020, mainly due to closure of malls, reduced working hours after precautionary actions were taken to prevent the spread of COVID-19 pandemic and one-off loss on product recalls. However, the Company is optimistic about the future as it had already adjusted its sails and reoriented itself after proactively embarking on a transformation journey since last year, focused on introducing new businesses selling jewelry by piece in the modern trade and online.

Company News

The significance of German silver for A. Lange & Söhne timepieces

All Lange watches share a commitment to detail and functionality, a clear design vocabulary, and a passion for craftsmanship and materials. Today, German silver is still highly impressive because of its favourable properties. For this reason, it again provides a solid basis for A. Lange & Söhne’s manufacture calibres since the re-establishment in 1990. It is the material of choice for plates, bridges, and balance cocks. German silver explicitly remains “untreated” and in the course of time takes on a patina with golden hue. The aesthetic effect is a desirable phenomenon because it allows the material to age gracefully and highlights the Glashütte ribbing with which the three-quarter plate is decorated within the scope of the final assembly pass.

Schwarz Etienne ROMA SYNERGY by Kari Voutilainen

The Schwarz Etienne ROMA SYNERGY by Kari Voutilainen, bears the names of both parties. It is not the usual customer-supplier relationship. Indeed, both parties have worked together on the design, the making of the dial and, lastly, the movement finishing. This collaboration is an exemplar of synergy where the expertise of both parties working together surpasses the combined efforts of each party working in isolation. It is by combining these two different worlds that the new Schwarz Etienne ROMA SYNERGY by Kari Voutilainen delivers something unique, surpassing the sum of its individual parts.

Product Launch

Greubel Forsey unveils its new creation, the Balancier S

Robert Greubel and Stephen Forsey unveiled a new timepiece showcasing a large, high precision and inclined balance wheel within a 100 metres water resistant titanium case tailored for the most active lifestyle. The two inventor watchmakers took up the challenge of fully – and visibly – combining sport and chronometry! The unique ovoid case with ergonomic profile and integrated lugs, provides optimal protection for the movement. With this new calibre, the “Balancier S”, Greubel Forsey pursues the sporting adventure, pushing the technical limits to combine ergonomics, architecture and precision. A new flagship in aesthetics and performance, innovation and craftsmanship.

OMEGA celebrates the launch of 321-powered Moonwatch

This year, OMEGA has expertly recreated the Calibre 321 in its 2nd generation form, and included it in a very special timepiece known as the Speedmaster Moonwatch 321 Stainless Steel. While this exciting news was released earlier in 2020, OMEGA is proud to announce that the watch is now ready to wear on Earth. The 39.70 mm case has been crafted in stainless steel, and is influenced by another piece of Speedmaster space heritage - the 3rd generation style that was worn during America’s first space walk in 1965. The design also includes a bezel ring in polished black ceramic [ZrO2] with a tachymeter scale in white enamel, as well as the iconic “Dot over Ninety”. Gracing the black step dial are the familiar Moonwatch hands, along with a vintage OMEGA logo.

Breguet presents its new Tradition Quantième Rétrograde 7597 model

The Tradition line draws its inspiration directly from the caliber of the subscription watch created by Breguet at the end of the eighteenth century. This new model offers an open view of the movement with all its architectural shapes and shows not only the hours and minutes but retrograde date. The new Tradition 7597 features an hours chapter with Roman numerals, bordered by a delicate engine-turned Clous de Paris pattern, which serves as a backdrop for blued Breguet hands. In the interests of balance, a retrograde date section is positioned between the 3 o’clock and 9 o’clock and a skillfully curved hand indicates the date moving in the vertical plane, fitting in with the ultra-architectural movement. A patented mechanism provides for a fine adjustment of the date hand.

Czapek & Cie presents the Place Vendôme Tourbillon ‘Dark Matter’

During the Geneva Watch Days, the exclusive high watchmaking event of 2020, the Geneva based brand unveils the ‘bad boy’ of the Place Vendôme collection, called ‘Dark Matter’. The newly born timepiece is not only inspired by the Ombres tourbillon in titanium, but takes elements from other watches in the Czapek portfolio. The 43.5mm case, in 5-grade titanium, features a black ADLC coating as the Faubourg de Cracovie ‘Courage every second’ chronograph - the unique piece donated by Czapek to the Only Watch charity event and auctioned off by Christies for 110’000 CHF on November 9th 2019. The fine-looking black bridges of the Dark Matter have been treated with PVD coating, ensuring the conservation of the colour over time, by the same company that crafts the blued gold Fleur-de-Lys hands in the Quai des Bergues collection.

Ferdinand Berthoud launches the new Chronomètre FB 2RE

Chronométrie Ferdinand Berthoud is celebrating the 250th anniversary by unveiling a new collection inspired by the Marine Clock No.6: the Chronomètre FB 2RE. This new timepiece reinterprets the architecture and design of this Marine Clock. Fitted along its middle with a large panoramic window, the round 18-carat gold case frames a grand feu enamel dial with a complex two-tiered construction. Beneath this traditional, uncluttered display lies an exceptional mechanism: the new Chronomètre FB 2RE combines the emblematic fusee-and-chain transmission with a one-second remontoir d’égalité mechanism. A model charting a course towards a new world of mechanical precision entirely in keeping with the lifework of Ferdinand Berthoud.

Fabergé celebrates September’s Birthstone: Sapphire

Sapphires traditionally symbolises nobility, truth, and faithfulness - the word originates from the Greek word sappheiros. For centuries, these precious gemstones have adorned royalty and their extraordinary colours are the standard against which other gems—from topaz to tanzanite—are measured. September’s birthstone has featured in Fabergé’s collections for over a century. In folklore, history and art, sapphire has typically been associated with blue, however these iconic gemstones naturally occur in a variety of colours. At Fabergé the spectrum of colours and hues that these gemstones naturally possess are celebrated in all their glory within their collections of jewellery, timepieces and objets d’art.

The legendary Tiffany Diamond Stars in 20th Century Studios’ Death on the Nile

The incomparable 128-carat Tiffany Diamond, made famous by Audrey Hepburn and last worn by Lady Gaga, will appear in the new 20th Century Studios daring mystery-thriller, “Death on the Nile,” based on Agatha Christie’s 1937 novel. A recreation of The Tiffany Diamond is prominently featured at the center of the storyline, alongside other Tiffany designs worn throughout the film. “Death on the Nile” stars Tom Bateman, Annette Bening, Kenneth Branagh, Russell Brand, Ali Fazal, Dawn French, Gal Gadot, Armie Hamer, Rose Leslie, Emma Mackey, Sophie Okonedo, Jennifer Saunders, and Letitia Wright. This October, Tiffany & Co. will promote the film in stores and across its digital platforms, highlighting Tiffany’s radiant yellow diamonds and the exceptional collections seen on screen.

Messika's tribute to nature

Lush greenery, striking fauna, exuberant foliage, suggestive invigorating shades of green. In a tropic rainforest where light pierces the shadows, yellow gold blazes, and a modern day Amazon appears from the verdant jungle floor. The wild woman is adorned with XXL hoop earrings while jewels are layered talismans around her neck, and cuffs and bracelets are stacked along her arms to shine delicately against her velvety skin.

Montblanc redefines the meaning of success with new global brand campaign

Montblanc’s new global brand campaign - What Moves You, Makes You - brings to life the Maison’s mission to inspire people to express their full potential on their own terms, and celebrates those who have found their own original path to rewriting the codes of success for the 21st century. Launching in late August 2020, the campaign highlights authentic stories supporting the idea that following your passion defines you as a person. The campaign captures the inspiring journeys of award-winning screenwriter and filmmaker Spike Lee with a legacy that has impacted culture in undeniable ways, actor Taron Egerton with an incredible journey ahead of him, and actor and school founder Chen Kun who constantly finds new ways to give back to his community while pursuing his love for creativity.

Montegrappista Lukasz Chmielewski

Montegrappa’s writing instruments have witnessed the creation of many great works over the years, but few have concerned themselves with the virtues of the pen itself. Manuscript is a fascinating new digital typeface by Montegrappista, Lukasz Chmielewski, created with his all-yellow Extra Custom fountain pen. His new project reflects a determination to bring human traits to calligraphic typography. The fine arts professor views imperfections as personality features, rather than the consequence of imperfect tools. Montegrappa is delighted to receive a beautiful package from Lukasz containing an anatomy of his typeface, and a 2021 art calendar made with Manuscript in collaboration with fellow artist, Marta Tomczyk.

Be constantly updated on the latest Watch & Jewellery Business markets of the Middle East, as well as information on competitors, promotions, product trends, industry analyses, appointments, new product introductions & developments and market research.

Our weekly 'Arabian Watches & Jewellery Business Newsletter Broadcast' is distributed to over 22,000+ industry executives, Watch & Jewellery manufacturers and distributors, retailers, investors and media consultants globally.

Unsubscribe / Submission of News / Open Forum / Obtaining our news distribution / Confidentiality Important Copyright Notice / Disclaimer

Developed by We Do Web