Market News

Swatch tentative agreement to reduce movements supply by 70 percent

According to Dow Jones Newswires, based on a report from German-language daily NZZ Am Sonntag, Swatch Group and Swiss competition authorities have reached a tentative agreement to allow the watch giant to reduce movement supplies by 70 percent in the coming six years.  Under the “draft agreement” Comco/Weko has proposed allowing Swatch Group to reduce the level of supplied ETA movements by 30 percent in 2014-2015; 50 percent in 2016-2017 and by 70 percent by 2018-2019. Other watchmakers now have until the end of August to comment on the decision, and their comments could lead to further negotiations, according to the report. A final decision in the case is expected by the end of the year.

UAE upholds its ranking among the world’s Top 10 confident nations

According to consumer confidence findings from Nielsen, a global provider of information and insights into what consumers watch and buy, UAE consumers remain upbeat and helped the country retain its spot among the world’s top 10 most confident nations even as overall global consumer confidence slipped in the second quarter of this year. The report also said that UAE maintained its No. 6 rank in the second quarter this year with an index reading of 108 points, even as consumers in the country are more optimistic than the first quarter this year, when the UAE registered an index reading of 105, according to Nielsen.

Qatar budget surplus rises to $12b last fiscal year

Qatar’s budget surplus more than tripled to 44.5 billion riyals ($12.2 billion) in the fiscal year ended in March, double the original plan and helped by booming revenues from liquefied natural gas, a prospectus for the country’s potential Islamic bond issue.

Company News

Vicente del Bosque wears Bovet Cambiano chronograph

Poland and the Ukraine have joined together to host the Euro 2012 which was held on June 8 to July 1. During this battle among Europe’s top national teams, BOVET were present thanks to its friend and ambassador Vicente del Bosque.

Blacksand teams up with Swiss Red Cross

Blacksand Geneva, a key partner of the 11^th Swiss Red Cross Ball has contributed to the Ball’s cause, it auctioned off the one-of-a-kind piece that it had created to commemorate the occasion. The Ball which was held on 9^th June at the Arena of Geneva was raised 500,000 Swiss francs which will go to help those in Cambodia, Bolivia, Ecuador, Paraguay, Sudan and Ghana.

Jacob & Co celebrates thirty years of exquisite jewelry with Gala Dinner in Monaco

On the occasion of the two-week exhibition “Splendors of Nature” of Jacob & Co.’s exclusive collection of rare jewels and gems presented by Stardust Monte-Carlo, the brand hosted a Gala Dinner in the magnificent Salle Empire within the historical Hotel de Paris in Monaco. A live charity auction helped raise 153’000 USD for the Monegasque Association Against Muscular Dystrophy, to support research on Duchenne muscular dystrophya highly debilitating neuromuscular disease.

Blancpain Race weekend in Japan

Blancpain and Automobili Lamborghini Japan held a luxurious event at the Nicolas G. Hayek Center / Ginza in Tokyo to celebrate the launch of the Lamborghini LP-570 Gallardo stradale and the Blancpain L-Evolution R 8886F Timepiece dedicated to the world of Motorsport. After this celebration, the guest discovered the thrilling world of GT racing on the mytical Fuji International Speedway set against the cloudy Mount Fuji in Oyama.

Gitanjali opens its first store in the Middle East - Dubai

Product Launch

Jaeger Le-Coultre Grande Reverso Ultra Thin Squelette

The Reverso watches presented in the 2012 collection express a vision of time through a triptych offering three entrancing means of savoring each passing hour. The Grande Reverso Blue Enamel provides enameling with a stage worthy of its art, set against a finely guilloche backdrop inviting its owner to have the solid case-back engraved with a personalized motif. The Grande Reverso Ultra-Thin SQ reveals the intricacies of its manually open worked, chased and engraved movement. The Grande Reverso Calendar welcomes a new complication into the movement, escorted by a traditionally crafted guilloche motif.

Jaquet Droz presents the Grande Seconde Minerals

From time immemorial, minerals have fascinated mankind because of the magic and emotion they impart. In honor of this endeavor, begun at the dawn of time, Jaquet Droz has fashioned inimitable watch dials from noble materials, treasures drawn from the depths of the Earth and from outer space. Gemologists of the brand search constantly for the rarest stones which will elevate the beauty of unique pieces, and which will reflect the choice and personality of the client. As an incarnation of exception, these models are available in limited editions, Numerus Clausus of 8, 88 or as a unique piece.

Panerai offers RADIOMIR BLACK SEAL 3 DAYS AUTOMATIC - 45mm

The P.9000 automatic calibre with a power reserve of three days, created entirely in house in the Officine Panerai manufacture, meets a Radiomir case for the first time in the new Radiomir Black Seal 3 Days Automatic. The Radiomir case in polished steel is 45 mm in diameter and has a black dial of sandwich construction, faithful to the traditional Panerai aesthetic with its alternation of linear hour markers and large figures at the cardinal points, small seconds dial at 9 o’clock and date at 3 o’clock.

Ulysse Nardin presents the newest Black Sea

As the latest addition to the coveted Marine Diver collection, the Black Sea showcases Ulysse Nardin’s evolution in watchmaking technology. Its specially treated stainless-steel case, having undergone a complex vulcanization process is revealed with a matte-black rubber coating, presenting a sporty aesthetic and comfortable feel. Its exhibition case-back reveals the self-winding movement. Softening its styling is a calming wave pattern decorating the black, structured strap and dial. The hour markers as well as the hour and minute hands are covered with yellow luminescent material for better visibility.

HYSEK’s captivating Kilada defines time dynamics

HYSEK’s Kilada defines time dynamics. The brand brings new life to its image line by focusing on renewing the profile of its particularly stylish casing by integrating materials such as rubber directly into its case middle thereby infusing the model with veritable sports chic. The timepiece is presented in four different lines: HYSEK Kilada 01 Power Reserve, HYSEK 02 Kilada Annual Calendar, HYSEK 03 Quartz Chronograph and the HYSEK 04 Kilada Automatic Chronograph.

Christophe Claret launches the new Baccara and X-TTEM-1

Christophe Claret has launched the exciting, new Baccara and X-TREM-1 which were presented at Baselworld. With the continuing success and demand for timepieces, the brand recently added two new CNC lathes to augment its manufacturing capability.

The Watch summer of TF Est. 1968

The global brand TF Est.1968 has launched its T-Fun, a colorful, bang-on-trend collection of watches, available in 2 versions: a three-hand automatic (high-quality decorated Swiss movement) and a chronograph. Signature identity codes include dials and bezels sporting a genuine carbon finish and highly luminescent hands and logo.

One man’s dream that became Tiffany & Co.

On the occasion of Tiffany’s 175th anniversary and the 200th anniversary of Mr. Charles Lewis Tiffany’s birth, the company salutes its legendary founder. Mr. Tiffany was known as the “King of Diamonds,” a worthy title for the man who introduced major gemstones to the U.S., acquired the French Crown Jewels and the priceless diamond the world reveres as the 128.54-carat Tiffany Diamond, as well as introduced the Tiffany® Setting, the ultimate symbol of true love. With these and other milestones Mr. Tiffany secured a lasting legacy as the founder of an American institution and a world-renowned jeweler.

N.oor to show its latest pieces in Mykonos

This summer Noor Fares will be collaborating with her great friends Dana Alikhani and Tatiana Santo Domingo of the sought after brand Muzungu Sisters, in a pop shop at The Belvedere Hotel in Mykonos. The shop will run from July 20 to 27 2012, and will show the latest pieces from both brands.

Selim Mouzannar introduces its Moscou collection

Selim Mouzannar fuses art, culture and exquisite craftsmanship with his latest ‘Moscou’ collection at Harvey Nichols – Dubai. The collection takes its roots and inspiration from the architectural domes of the city of Moscow featuring dazzling yet soothing colors. The designer creates full jewellery collections encompassing of beautiful rings, necklaces and bracelets crafted from premium yellow gold and rose gold featuring distinctively cut gemstones and diamonds.

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