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Saudi Arabia hits significant economic milestone: Non-oil activities at 50% of GDP; Caroline Scheufele welcomes Julia Roberts for a dinner in honour of the ‘Chopard x Julia Roberts’ Haute Joaillerie
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Market News
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Saudi Arabia hits significant economic milestone: Non-oil activities at 50% of GDP
Saudi Arabia’s economy has reached a key economic milestone, as the non-oil sector activities comprised 50 per cent of the country’s real GDP in 2023. This is the highest share ever recorded in the country’s economic activity makeup. This achievement, analysed from data provided by the General Authority for Statistics and the Ministry of Economy and Planning, underscores the kingdom’s ongoing economic diversification efforts. The non-oil economy, valued at SAR1.7tn (approximately $453bn) at constant prices, has been buoyed by growth in investment, consumer spending, and exports. Private-sector investment, in particular, has surged by 57 per cent over the past two years, reaching a record high of SAR959bn ($254bn) in 2023. |
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Company News
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Caroline Scheufele welcomes Julia Roberts for a dinner in honour of the ‘Chopard x Julia Roberts’ Haute Joaillerie collection
Chopard Co-President and Artistic Director Caroline Scheufele hosted a dinner in the legendary setting of the Château Marmont to honour Chopard Ambassador Julia Roberts. Surrounded by Elton John and selected guests, they unveiled their first creative collaboration: an incredible Haute Joaillerie set comprising a necklace, a ring and a pair of earrings graced with stones derived from the Insofu Emerald. The ‘Chopard x Julia Roberts’ parure stems from the creative dialogue between Caroline Scheufele and Julia Roberts aimed at showcasing the first gems resulting from the cutting of a raw 6,225-carat emerald acquired by Chopard several years ago. The Insofu emerald with its extremely rare cut and texture reflects the bold approach taken by the Maison which – by following a rough stone from mine to final jewellery creations – guarantees the total traceability of this unique gem. |
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Vacheron Constantin unveils an artistic collaboration for Ramadan with Emirati Artist, Omar Al Gurg
Vacheron Constantin collaborates with Emirati designer Omar Al Gurg on the occasion of Ramadan to unveil 'Among The Pillars’, an art installation inspired from the Middle East's rich landscape and Islamic architecture. The designer's minimalist approach brings together fine craftsmanship and locally sourced materials, illustrating the Maison's commitment to local culture, innovation and craftsmanship. The main art piece is exhibited in the Atrium of The Dubai Mall flagship boutique and replicated in all regional boutiques across the United Arab Emirates, Kingdom of Saudi Arabia, Qatar, Kuwait and Bahrain during the entire month of Ramadan. |
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Jaeger-LeCoultre collaborates with Emirati architect Abdalla Almulla this Ramadan
Jaeger-LeCoultre has announced its newest collaboration with Emirati architect and designer, Abdalla Almulla, marking a tribute to the essence of Ramadan, the sacred month. This collaboration symbolizes Jaeger-LeCoultre's unwavering commitment to pushing the boundaries of artistic exploration and cultural exchange by partnering with forward-thinking visionaries like Abdalla Almulla known for his unique contribution to the field of architecture. At the heart of Jaeger-LeCoultre’s collaboration with Abdalla Almulla is the Golden Ratio, a mathematical principle that has been revered by artists, architects, and philosophers for centuries. Known as the divine proportion, it has been associated with beauty and harmony and is the driving creative force behind the design of Jaeger-LeCoultre’s iconic Reverso. |
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Neymar spotted with Jacob & Co Casino Tourbillon
Brazilian soccer icon Neymar Jr illustrates his refined taste by donning Jacob&Co's masterpiece, the Casino Tourbillon watch, which pays homage to the luxurious ambiance of 1960s Monte Carlo casinos. This exquisite timepiece seamlessly marries the thrill of roulette with supreme elegance, notably through its hidden flying tourbillon and the striking black onyx dial accented with sophisticated kite-cut markers. The centerpiece of the watch, a dial base, features a meticulous arrangement of 37 pockets, numbered 1 to 36 in a vibrant black and red lacquer, alongside the famed green zero, echoing a classic roulette wheel's layout.
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Product Launch
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Van Cleef & Arpels pre-launches new Perlee Pieces for Ramadan
Van Cleef & Arpels has announced the launch of three radiant and refined Perlee bracelets. In keeping with the Perlee’s sparkling spirit, the bracelets combine shimmering, round golden beads with inclined rows of diamonds. Easily united with other Perlee creations, their asymmetrical aesthetic imparts a sense of dynamism to the ensemble. Pre-launched in the Middle East region in March 2024, the three novelties are showcased for the first time during the season of Ramadan. The three bracelets feature gold of varying hues and embody Van Cleef & Arpels’ distinctive style. Lighting up the skin, revealing tender nuances or shimmering with pure and clean light, the different shades of gold alternate to express any desire, inspiring infinite combinations. |
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GENUS reveals the GNS2 watch
With the GNS2, GENUS offers a fresh take on its signature complication, reimagining its entire aesthetic and magnifying its singular interpretation of Time. This new model, building on the GNS1, preserves its hallmark mechanism while introducing a new dial that rethinks simplicity – without compromising on design sophistication. An exceptional timepiece with a sleek style whose semi-open dial showcases GENUS’s modern interpretation of watchmaking artistry. The new GNS2 – the inaugural ‘Launch Edition’ will be limited to 18 pieces – maintains the momentum, fully aligned with the previous creations of the independent watchmaker based in Plan-Les-Ouates, on the outskirts of Geneva. |
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Celebrity News
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Florence Pugh shines in Bulgari at the 96th Academy Awards
Actress, Florence Pugh shines in Bulgari while attending the 96th Annual Academy Awards in Hollywood. Florence chose a High Jewelry Serpenti Necklace in white gold set with 2-pear brilliant cut diamonds, which she paired with multiple High Jewelry diamond rings and diamond stud earrings for this special occasion. |
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Demi Moore wears Chopard to the 2024 Vanity Fair Oscar Party
Demi Moore selected earrings from the Red Carpet Collection featuring 98.58-carats of brown and yellow diamonds set in 18k Fairmined-certified rose gold, along with a bracelet featuring 13.20-carats of yellow diamonds set in 18k yellow gold, a ring featuring a 10.26-carat brilliant cut yellow diamond and 2.07-carats of diamonds set in 18k white gold and a ring featuring a 4.33-carat radiant-cut yellow diamonds and 2.10-carats of diamonds set in 18k white gold, all from the Haute Joaillerie Collection. |
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