Abu Dhabi ranked world’s second best city; Dubai economy records faster output growth in June; Georges Kern leaves Richemont

   
 
 

Market News

 

Abu Dhabi ranked world’s second best city.

An international survey has named Abu Dhabi the second-best city in the world to live, work and do business in, the Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi) announced on Sunday.

The Ipsos City Index has seen that Abu Dhabi overtakes both London and Paris to move up two places since its last survey. More than 18,000 people, aged between 16 and 64, in 26 countries worldwide were interviewed for the Index, with New York maintaining the overall world number one spot.

The results highlighted that 21 per cent of survey participants listing Abu Dhabi as a top city to do business in, just 2 per cent below the leader, New York. 

In the period January to May, 2017, the emirate of Abu Dhabi recorded nearly 2 million hotel guest arrivals, 4 per cent growth compared to the same period in 2016.
 

Dubai economy records faster output growth in June.

Dubai economy recorded faster output and new orders growth according to the Emirates NBD Dubai Economy Tracker Index (DETI), which increased to 56.5 in June from 55 in May.

The latest index reading was above the long-run series average (55.2). However, employment remained broadly unchanged at 50.2, the lowest reading since February this year.

By sector, wholesale & retail (index at 58) was the best performing category, closely followed by construction (index at 57.4). The travel & tourism sector (54.4) experienced the slowest improvement in business conditions.
 

Georges Kern leaves Richemont.

Georges Kern left Richemont the luxury goods group on Friday just four months after taking over as head of its watchmaking division.

Kern had been at Richemont for 17 years. While the reasons for the resignation remain unclear, confidential sources denied to “Arabian Watches and Jewellery Magazine” that Kern is joining Breitling Swiss newspaper “Le Temps” mentioned Friday that Kern will move Swiss watchmaker Breitling. 
 

Abu Dhabi’s trade of pearls and precious stones hit Dh13.3bn.

The total trade in Abu Dhabi of pearls, precious stones and precious metals reached Dh13.3 billion during the first 11 months of 2016, according to the most recent statistics on non-oil-related commodities from its land, sea and airports.

According to traders in the sector, the trade increase in pearls, precious stones and precious metals reflected the extent of registered development of these types of commodities in Abu Dhabi and the UAE in general, which confirms a progressively growing consumer demand for these commodities in the local market that is expected to continue during the next period.

Statistics on the trade of pearls, precious stones and precious metals show a rise in the value of re-exports through Abu Dhabi ports of Dh5.63 billion during the first 11 months of 2016, an increase of 125.2 percent compared to the same period in 2015, which totalled Dh2.5 billion.
 

Dubai Police arrest gang who stole Dh3 million worth gold.

Dubai Police have arrested a gang of robbers who attacked a jewellery shop and made away with Dh3 million worth of gold. The five members of the gang wore masks as they raided the jewellery shop located in International City area. 

The Criminal Investigation Department received a complaint and arrested the unidentified robbers within 48 hours. The stolen gold has been recovered. Major General Khalil Ibrahim Al Mansouri, Assistant Commander-in-Chief for Criminal Investigation Affairs, said Al Rashidiya police station received a complaint last Wednesday. 
 
 

Company News

 

9 Patek Philippe New York 2017 Special Editions.

As a highlight to “The Art of Watches Grand Exhibition New York 2017” from July 13 to 23, Patek Philippe created nine limited special editions watches as well as 17 rare handcrafts pieces that will be on display. These timepieces showcase the most beautiful artisanal skills and are decorated with motifs dedicated to the city of New York and the United States of America.

Ranging from a simple steel pilot’s watch to an astonishing and complex chiming world timer, the brand once again proves itself a pioneer in its field.

The release includes a Patek Philippe Ref. 5531R World Time Minute Repeater, New York 2017 Special Edition watch with a new grand complication, and a world's first. The watch melodiously chimes the time for any location in the world and is offered in two versions, each in a series of just five pieces. Another Patek Philippe’s famous World Time function also took center stage in the Ref. 5230 New York 2017 Special Edition men’s wristwatch. The 300 watches of this limited series are endowed with the selfwinding caliber 240 HU movement.  Patek Philippe also offered its travel companion to ladies. The Ref. 7130 World Time watch New York

2017 Special Edition is available in two 75-timepiece editions, one in white gold, and the other in rose gold.

The collection includes also the first grand taille Ref. 5522 Calatrava Pilot New York 2017 Special Edition comes in a limited 600-watch edition and features an exclusive dial reminiscent of vintage Patek Philippe aviator's watches. Its inimitable blue color recalls the livery of American fighter planes in the 1930s. The Ref. 7200/50 Calatrava New York 2017 Special Edition is the ladies’ edition. It features an ultra-thin white-gold Officer’s-style case with straight lugs and a mother-of-pearl dial with diamond hour markers. It is available in two limited-edition versions of 75 watches each. 

Patek Philippe combined sublime watch making prowess with gem setting artistry when it created the Ladies First Minute Repeater in a 3-watch limited edition. The Ref. 7000/250 New York 2017 Special Edition stands out with a blue enamel dial that sparkles with the fire of diamond hour markers. Its white gold case features a “Flamme®” setting composed of 160 flawless diamonds.
 

Tiffany appoints Ex-Bulgari Exec Alessandro Bogliolo as CEO.

Tiffany & Co. has named veteran luxury executive Alessandro Bogliolo as CEO, the jeweler recently announced last week. Tiffany expects Bogliolo to start on October 2, at which point he will also join the board. Bogliolo, 52, is currently CEO of Italian clothing retailer Diesel, where he has led efforts to revitalize the brand and enhance the customer experience Tiffany said. He previously spent 16 years at luxury jeweler Bulgari, including as chief operating officer and executive vice president for jewelry, watches and accessories. 
 
 

Product Launch

 

OMEGA in a new James Bond seamaster Diver 300M “Commander.

OMEGA unveils a new timepiece that celebrates the rank and regalia of James Bond. Known as the Seamaster Diver 300M “Commander’s Watch” Limited Edition.
 

Vacheron Constantin introduces Patrimony Small Model.

The new Patrimony small model with 36 mm diameter makes it an ideal fit for both men’s and women’s wrists. This new interpretation flaunts a colourful touch with a pink gold case, fitted with a purple shiny alligator leather strap. 
 

Banka leather straps for Baume & Mercier Petite Promesse.

The Petite Promesse adapts to these desires and knows how to unite fashion and respect for nature. Its latest revolution is Banka leather, made from trout skin in vibrant, elegant colors.  A trio of eye-catching colors: a luminous red full of energy, a bold green, and a vibrant, ultra-chic blue.  
 

Carl F. Bucherer presents the new Manero Peripheral models.

The new Manero Peripheral models not only impress by a bezel paved with 60 diamonds and their mother-of-pearl dials in snow white or velvet brown – they also shine on the inside, with the in-house manufacture caliber CFB A2050.
 

Montegrappa presents Iron Throne pens.

Montegrappa unveils new series of limited edition Iron Throne pens with a fashioned cap formed of overlapping swords representing the seven kingdoms. Standing proud is a sword that serves as the pocket clip, its hilt bearing a fiery red ruby. At the cap’s top, surrounded by the swords’ hilts, is the Game of Thrones logo. Details of the pen are enriched with Flaming White celluloid.
 
 

Celebrity News

 

Charlize Theron shines in Messika jewelry.

Charlize Theron in Messika diamond jewelry at the Berlin premiere of ‘Atomic Blonde’. Charlize chose to pair her Dior outfit with the striking Roaring Diamonds earrings and the Madeleine bracelet from Messika’s new ‘Paris est une Fête’ High Jewelry collection. She also wore the iconic Miss Milla double ring with a My Twin Toi & Moi ring. 
 
 
 
 

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