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UAE’s GDP grows 3.8% in first quarter to $114bn; Abu Dhabi International Airport passenger traffic rises 67% in H1 2023; Tiffany & Co. Debuts New Tiffany Lock Campaign Love Lock
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Market News
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UAE’s GDP grows 3.8% in first quarter to $114bn
The UAE’s economy grew by 3.8 per cent in the first quarter of 2023 to $114bn (Dhs418.3bn) compared to the prior-year period, according to the latest data from the Federal Center for Competitiveness and Statistics, as non-oil activities boosted overall growth. Non-oil GDP totalled Dhs312bn, a 4.5 per cent increase or Dhs13.5bn growth. The latest data confirm the UAE’s unwavering efforts to promote the growth of non-oil economic sectors and transition to an economic model based on knowledge and innovation. The contribution of the transport and storage sector to the GDP in Q1 2023 amounted to Dhs21.8bn up 10.9 per cent compared to the same period in 2022. This is followed by the construction sector with a 9.2 per cent growth compared to the same period in 2022, to total Dhs36.3bn. |
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Abu Dhabi International Airport passenger traffic rises 67% in H1 2023
Abu Dhabi Airports has reported Abu Dhabi International Airport‘s traffic results for H1 2023. The results show growth in passenger numbers, flights and cargo movement. A significant increase of 67 per cent in passenger traffic was witnessed, with 10,258,653 passengers passing through Abu Dhabi international Airport between January 1 and June 30, compared to 6,158,376 passengers served during the same period last year, Abu Dhabi Media Office reported. Abu Dhabi International Airport also recorded 67,835 flights, a notable increase of 36 per cent compared to 49,919 flights during H1 2022. The airport’s network continues to expand rapidly with 114 destinations served by 27 airlines during the period. The destinations with the highest passenger traffic served by the airport during the period include Mumbai (461,081), London (374,017), Delhi (331,722), Kochi (316,460) and Doha (261,117). |
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Company News
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Tiffany & Co. Debuts New Tiffany Lock Campaign Love Lock
Tiffany & Co. announced a new campaign to introduce the expansion of the Tiffany Lock collection. The extension of the collection introduces an array of pendants, rings, earrings and bracelets in additional colorways. The House celebrates this icon with a campaign featuring House ambassadors and singers Nancy Ajram, Jimin from BTS, ROSÉ of BLACKPINK, and welcomes actress Florence Pugh to the Tiffany legacy. Celebrating the icon of love, each campaign star is featured in the newest Lock designs. Each design a powerful symbol of unbreakable bonds. Inspired by an archival padlock from 1883, a design signature of the House for over a century, Tiffany Lock is an unparalleled expression of design and craftsmanship at the brand, paying homage to the jeweler’s illustrious heritage. The latest iterations celebrate the personal connections that we share and the infinite power of love. |
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Product Launch
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Introducing the first Grand Seiko mechanical chronograph, the Tentagraph
Just like every Grand Seiko creation, the pursuit of precision is at the heart of the new Tentagraph, whose chronograph movement features the revolutionary high-beat Caliber 9SA5 as its base. Like Caliber 9SA5, the new Tentagraph Caliber 9SC5 beats ten times per second, ensuring high accuracy when measuring elapsed time as well as the time of day. And, thanks to its energy-efficient escapement and two barrels, the watch runs for three days even when the chronograph is in operation, making the Tentagraph the 10-beat chronograph with the longest power reserve in the industry today. Furthermore, the Tentagraph is subjected to a new and longer testing procedure. As with all Grand Seiko mechanical movements, the Tentagraph’s time-of-day accuracy is assessed in six positions and at three temperatures over 17 days but, in addition, there are three more days of testing during which the accuracy is assessed in three positions while the chronograph is in operation.
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Artya introduces the AquaSaphir
Rated to 6 ATM, the AquaSaphir is the first sapphire crystal aquatic watch on the market capable of withstanding the pressure down to a depth of 60 meters (over 195 feet). It’s the first watch to have been ingeniously designed without any steel elements in the sapphire crystal case. No visible screws, no metal casing, nothing to block the watch’s transparency. A technically complex and daring choice that allows for an unprecedented and unparalleled aesthetic. And thanks to the remarkable hardness of sapphire – 9 on the Mohs scale, the hardest mineral right after diamond and moissanite – it also translates into a case that is naturally scratch-resistant. To accentuate the AquaSaphir’s summery visual vibe, the bezel has been crafted in cyan-tinted NanoSaphirTM, giving the crystal’s transparency a vibrant, turquoise hue that in turn emphasizes the watch’s affinity with the surf and beyond. |
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Akillis presents the Bang Bang Black Titanium Adrenaline Jeweller
Akillis is never first degree. Like its creator and founder, Caroline Gaspard, the brand plays with the classic codes of jewelry to give life to a totem pendant, symbol of incomparable determination. The goal of life that we achieve with conviction and righteousness without ever failing. This is what the Bang Bang Collection represents. Evocative collection of adrenaline that attracts men and women, in search of an original design, capable of expressing their love for life in a different way. A collection of desire, a seductive asset of charm for a rebel soul. Latest novelty, Akillis has created a brand-new titanium bracelet. A deep matt black on colorful cords. Blue, Red, Pink or two-tone, it’s up to you to choose your perfect match. |
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Introducing Midnight Sun High Jewelry Collection by Messika
The 1970s. From New York City to Paris, the nightlife world breaks the codes, reinvents the world of fashion, revolutionises genres, turns the scene upside down. Studio 54, the Mudd Club, the Palace, Chez Régine. Cities are animated by a joyful atmosphere, an ode to self- expression. For her 10th High Jewelry collection, Valérie Messika draws her inspiration from the unwavering energy of the craziest nights of the seventies. To embody this euphoric collection, she chose the French singer and model Carla Bruni to be the face of the new Messika High Jewelry collection. A manifesto of creativity and affirmation, Midnight Sun reveals multifaceted sets that are as much a play of lights and contrasts as an expression of the Maison’s diamond savoir- faire. The yellow diamond stands out as the queen of the night. |
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Introducing Toi Jewellery
Toi is an up-and-coming jewellery brand that was created by founder, Aisha Binhendi. Aisha was deeply inspired by her travels around the world, particularly in Europe where she was exposed to different cultures and people. Her visits to various boutiques in Paris, Italy, London and various other cities where she admired the variety within the craft of jewellery making. Her high-end jewellery brand Toi translates to ‘you’ in French. It is designed to be as unique as you. Toi jewellery is an ode to both, the brand and its wearer who are individual and unique in their own way. The word Toi, in the context of the brand, however, connotes positivity and distinctiveness of character.
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Exhibitions & Events
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IIJS Premiere 2023 organised by GJEPC estimates business of over Rs. 60,000 crore
The much-awaited 39th edition of IIJS Premiere 2023 was organized by the Gem & Jewellery Export Promotion Council (GJEPC) in Mumbai. This prestigious event brought together the gems and jewellery industry for an extraordinary showcase of excellence, innovation, and sustainability. IIJS Premiere 2023 promised to be the largest gathering of domestic and international buyers, offering Indian jewellery manufacturers an unparalleled platform to connect with retailers and explore product design and demand trends. This year the IIJS Premiere was simultaneously organised at two venues - the Jio World Convention Centre (JWCC) from 3rd to 7th August, and the Bombay Exhibition Centre (BEC) from 4th to 8th August. Combined, these venues accommodates 3,250 stalls and welcome 1,850 exhibitors, covering an expansive area of 70,000+ sq. mtrs of Exhibition Area. |
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JGTD returns for third edition with richer showcase of product diversity and innovation
Further solidifying its distinctive position as a top-tier destination for B2B sourcing worldwide, Jewellery, Gem & Technology in Dubai (JGTD) is returning for its third edition with new pavilions and an enhanced selection of products from 6 to 8 February 2024 at the Dubai World Trade Centre (DWTC). The result of a collaborative effort between world-leading event organisers Informa Markets Jewellery and Italian Exhibition Group SpA (IEG), JGTD will present a diverse range of product offerings from around 400 exhibitors representing 25 countries and regions. Among the fair’s highlights are finished jewellery collections, from the aspirational luxury category at wholesale prices catering to different budgets, to the rare and exceptional. Additionally, buyers will have access to an extensive array of loose diamonds, coloured gemstones, jewellery mountings, advanced jewellery manufacturing technologies and lab-grown diamonds – all in one convenient location. |
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