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VAT charges removed on gold and diamond sectors at wholesale level, Dubai International Airport passenger traffic up 4.5% in March, A.Lange & Söhne’s 1815 “Homage to Walter Lange” to be auctioned for
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Market News
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VAT charges removed on gold and diamond sectors at wholesale level.
The UAE has rolled back the 5 per cent Value Added Tax (VAT) on gold and diamond sectors at the wholesale level. Retailers will continue to impose 5 per cent on all jewellery transactions taking place at their shops. But the move, announced by the UAE Cabinet, could set off a gradual revival in consumer sentiments for gold and diamond jewellery purchases, market sources say. Jewellery retailers would pass on the VAT benefits they receive from wholesalers in setting the price on their pieces. This way, shoppers will receive their share of the benefits. |
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Dubai International Airport passenger traffic up 4.5% in March
Over 7.8 million passengers travelled through Dubai International airport in March, marking a 4.5 per cent increase over March 2017 as the Easter holiday period drove traffic. The figure brings passenger traffic in the first quarter of 2018 to 22.7 million, inching up 1.1 per cent over the 22.5 million recorded in the same quarter last year, according to data from operator Dubai Airports. In March, the number of passenger flights fell to 34,126, down 1.5 per cent year-on-year, with flight numbers in the first quarter falling 1.8 per cent to 98,839 from 100,638 in the first quarter of 2017. |
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Company News
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A.Lange & Söhne’s 1815 “Homage to Walter Lange” to be auctioned for charity.
The Geneva-based auction house Phillips in Association with Bacs & Russo will auction off the one-of-a-kind 1815 “Homage to Walter Lange” in stainless steel with black enamel dial at Geneva’s La Reserve hotel on 13 May 2018 for the benefit of the children’s charity Action Foundation. |
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Diane Kruger, Patroness of the Trophée Chopard 2018.
Diane Kruger, the winner of last year’s Best Actress award at Cannes Film Festival, will be awarding the Trophée Chopard to the laureates of this annual distinction, presented to the budding talents of the film industry. The ceremony will be held at the Martinez Hotel on the 14th of May 2018. Under the aegis of the Cannes Film Festival, this award perpetuates the ongoing love story between cinema and Chopard – official partner of the Festival since 1998. |
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EDOX and Marcus Fillinger at North Pole
EDOX announces that its ambassador, Australian Marcus Fillinger, Director of animal rescue organisation Alphadog, has made a world first with his expedition dogs Blue and Duro by completing the entire FWD North Pole Marathon running with the dogs. Equipped with the new Edox N-Pole 42.195 Limited Edition, the dial is black with white and red details, Robust steel case with helium valve at 9 o’clock. Genuine black rubber strap with EDOX folding clasp, additional new black « soft touch » strap with red luminescent dots. |
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StockX offers DOXA SUB 300 50th Anniversary Black Lung Internal use edition.
DOXA and StockX, announces one final opportunity to purchase the legendary DOXA Sub 300 Aqua Lung “Black Lung” diver’s watch at retail pricing. Five of the ultra-exclusive Internal Use timepieces will be available only on StockX. For the chance to receive a “Black Lung” participants will simply need to enter a bid at https://stockx.com/doxa-sub-300-black-lung-restockx for the retail price of $2,590 StockX will then select five bidders at random who will receive the watch at the $2,590 retail price. Bidding will be open March 9th and continue to March 11th, winners will be announced on March 12th. |
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GJEPC to organize dialogue session with banks at BDB Mumbai
The Gems & Jewellery Export Promotion Council (GJEPC), an organisation set up by the Ministry of Commerce and Industry will collaborate with leading banks and release a white paper in a Banking Summit on May 11 in Mumbai. The white paper titled “Diamond Financing 2018 New Challenges”, compiled by GJEPC in consultation with Gems & Jewellery industry and top banking lenders offering solutions to mitigate the fallout post-scam. |
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Product Launch
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Jaquet Droz celebrates its 280th anniversary by paying tribute to the Grande Second
Jaquet Droz celebrates its 280th anniversary with the Grande Second Tribute, limited to 88 pieces. It is the first time the brand offers a wristwatch version in yellow gold. It features the hours and minutes counter at 12 o’clock, with indexes alternating between Roman and Arabic numerals. Its precision is guaranteed by a silicon escapement (balance spring and pallet lugs), making it resistant to variations in magnetic fields and temperatures. |
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The ARMIN STROM Mirrored Force Resonance joins the online configurator
The online configurator welcomes the Mirrored Force Resonance, Collectors now have the option to configure this watch by choosing among 2 different case materials (stainless steel and 18k rose gold) plus multiple options for the strap (in various colors, including grey, brown, black, blue or white). In addition to these possibilities, the style and color of the hands and the dial, including the new handmade guilloché options, will also go through this personalization process. |
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Buccellati Fine Jewellery sparkles in the Arabian Gulf.
Buccellati, a long- established family firm that creates Italian-designed jewelry and which has preserved its stylistic identity for a century by reviving centuries-old goldsmithing traditions in the top end of the jewelry market. Buccellati Fine Jewellery is now available at Harvey Nichols. The Unica collection by Buccellati with pendant brooch in yellow, white and pink gold with 64 round faceted sapphires (1, 21), 128 round faceted rubies (ct. 1, 75) 1 faceted sinhalite (ct. 11, 41) and 110 round faceted emeralds (ct. 2, 00). |
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Exhibitions & Events
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Cutting of the Ribbon for OROAREZZO.
On 5th May 2018 at the OROAREZZO opening ceremony, Sen. Riccardo Nencini, Vice Minister for Infrastructure and Transport, began his greetings by quoting Vasari. His greetings at the opening event were followed by those of Lorenzo Cagnoni, President of IEG, He also highlighted how OROAREZZO represents a highly important occasion for the 600 exhibitors and 450 guest buyers to create relations and do business. |
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F.P.Journe rewards the best “Curated Exhibition”
F.P.Journe pursues its commitment in the Art world by partnering with artmonte-carlo, the salon of contemporary Art. Under the high patronage of his H.S.H. the Prince Albert II of Monaco, artmonte-carlo establishes a leading artistic platform on the Côte d’Azur, honoring the requirements of the collectors and art-lovers. This third edition took place at the Grimaldi Forum in Monaco from 27 to 29 April, 2018, during which F.P.Journe presented its prestigious collection of haute horology watches in the “Ephemeral Boutique”. F.P.Journe which rewards the best “Curated Exhibition” from an Institution was awarded on April 27 to Magic of Persia, London, for the exhibition Contemporary Iran. |
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Celebrity News
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Emily Blunt, Adriana Lima and Sara Sampaio wear Chopard to the 2018 Vanity Fair Oscars party
Emily Blunt wears earrings featuring 18.86-carats of radiant-cut orange diamonds and 12.01-carats of diamonds set in 18k white gold and 18k yellow gold, a ring featuring a 5.11-carat fancy dark brown yellow diamond all pieces from the “High Jewelry Collection”. Brazilian model Adriana Lima wears earrings featuring 39.68-carats of diamonds set in platinum and a bracelet featuring 24.94-carats of diamonds set in 18k white gold both from the “High Jewelry Collection.” Sara wears earrings from the “Precious Chopard Collection” featuring 2.79-carats of pear-shaped diamonds, 1.02-carats of diamonds, and .95-carats of diamonds set in 18k white gold, a ring from the “High Jewelry Collection” |
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