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GCC economies to rebound in 2021; UAE-Israel accord could bring new sparkle to Dubai diamond trade; Signs of recovery by UAE ports
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Market News
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GCC economies to rebound in 2021
According to a recent published report, despite the challenges presented by Covid-19, HSBC economists expect growth to begin bouncing back in 2021. HSBC economists forecast that Gulf Cooperation Council economies will shrink on average by 5.6 per cent year-on-year in 2020. The forecast is then for growth of 3.9 per cent year-on-year in 2021, which would be a level of growth not seen since 2015 and points to the strong underlying potential of the region. |
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UAE-Israel accord could bring new sparkle to Dubai diamond trade
The week that Israel and the United Arab Emirates normalised ties, Israeli diamond trader Zvi Shimshi headed to the United Arab Emirates to open a company in Dubai, a regional trade hub that is a major centre for the precious stones. Traders in Dubai say they have been inundated with enquiries from Israelis, who traditionally trade in Belgium's Antwerp - the world's biggest centre for traders of rough and polished diamonds. For Israel, in which there is a substantial market for polished stones, Dubai offers closer links to India and connects it to the Arab world, where most countries still do not have formal ties with the Jewish state. |
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Signs of recovery by UAE ports
Increasing consumer demand along with a gradual return to global trade are starting to show signs of a recovery for the UAE’s leading port operators, with officials from both DP World and Abu Dhabi Ports saying they are optimistic on a post pandemic turnaround. “We started seeing some signs of recovery, consumption is increasing, the region has been going through lockdown and [as a result a] huge demand is coming,” said Shahab Al Jassmi, commercial director, DP World – UAE Region. |
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Company News
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Chopard's Journey to Sustainable Luxury continues in Malaysia with a brand new boutique
In July 2020, Chopard opened its new boutique at Suria KLCC in the heart of Kuala Lumpur, Malaysia. Located within the Petronas Twin Towers, the famous city landmark which still holds the record for the tallest twin buildings in the world, Suria KLCC is Malaysia’s most iconic shopping destination. The highlight of this newly renovated boutique is the inclusion of a “green and sustainable” feature wall as part of its design. Conceptualized from an idea suggested by Caroline and Karl-Friedrich Scheufele and the first of its kind in the region, this unusual characteristic symbolises Chopard and its link with Nature. Chopard has been using 100% Ethical Gold in its jewellery and watch creations since 2018 as part of its pioneering Journey to Sustainable Luxury. |
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Mouawad unveils the spectacular Mouawad Miss Universe Thailand 2020 Crown
On October 7, 2020, at a dazzling event at Icon Siam, Bangkok, Thailand, Mouawad unveiled the Mouawad Miss Universe Thailand 2020 Crown. The unveiling came during the preliminary competition for Miss Universe Thailand 2020 before an audience of VIPs and select media. Crafted from 18k gold, the Mouawad Power of Authenticity Crown is set with precious gemstones that reflect the colors of the Thai national flag while also carrying a deeper symbolism: white to symbolize the purity that is inherent in authenticity, sincerity and inner wisdom, the boldness of red for the power that is unleashed when being true to ourselves, and blue to evoke the nobility associated with speaking the truth and living a life of purpose. |
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TUDOR presents LOOKBOOK for Festive Selection
For the festive season, TUDOR has decided to highlight two complementary worlds; fashion and watchmaking, in a single element/shooting. The idea is to bring the brand's classics and timeless men and women watches up to date while offering a slightly different story: nature, a flat, a denim jacket. |
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Product Launch
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Chopard unveils Alpine Eagle Chrono
For the first time the Alpine Eagle collection is welcoming a flyback chronograph in a new 44 mm diameter case. Available in three versions – Lucent Steel A223 with an Aletsch Blue or Pitch Black dial and a bi-material version combining Lucent Steel A223 and ethical rose gold with a Pitch Black dial – the Alpine Eagle XL Chrono timepiece with integrated bracelet is, like the entire collection, very much inspired by the power of the eagle and the beauty of the Alps. Chopard is also unveiling two new models in a Large format made of 18-carat rose gold. As a token of the Maison’s commitment to responsible luxury, and like all the watch and jewellery creations emerging from its workshops since July 2018, these new timepieces are crafted from ethical 18-carat rose gold. The first version features a textured brass Aletsch Blue dial while the second, fitted with a Bernina Grey dial, is framed by a diamond-set bezel. |
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A new face for the Twenty~4 by Patek Philippe
On October 9th, Patek Philippe revealed its Twenty~4 collection exclusively for women with a fresh interpretation of the original “manchette” or cuff-style quartz model in steel of 1999. Two new references of this new ladies collection were adorned with white-gold applied Arabic numerals and white-gold applied trapeze-shaped hour markers. Designed as stylish companions to every facet of an active lifestyle, these Twenty~4 references 4910/1200A-001 with a blue sunburst dial and 4910/1200A-010 with a grey sunburst dial stand out more than ever as paragons of timeless feminine elegance. |
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Jaeger-LeCoultre presents landmark timepieces from its Heritage collection”
For Jaeger-LeCoultre, chiming watches hold a special significance and over the past 150 years, they have had a major presence in the Maison’s portfolio of complicated timepieces. Since producing its first minute repeater in 1870, the Manufacture has developed more than 200 chiming watch calibres. It has mastered all forms of chiming mechanism, from relatively simple alarm calibres to the most complex of all – the grande sonnerie and Westminster chimes. The Manufacture’s constant quest to improve both timekeeping accuracy and sound quality has resulted in multiple patents and countless innovations and, until the mid-20th century, it supplied chiming movements to many of the most exalted names in Swiss watchmaking. |
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Parmigiani Fleurier launches Tonda Métropolitaine rose gold rainbow Opal
To reflect the fact that every woman is unique, Parmigiani Fleurier presents a sumptuous new Tonda line, available in different versions to fulfil every desire. The manufacture's watchmakers have struck a delicate balance between technical accomplishment and the finest jeweller's art. Refined yet understated, the new Tonda Métropolitaine rose gold rainbow Opal embodies every aspiration of the modern woman, making each moment of the day unique. Reflecting today's multicultural and multifaceted society, this new line of timepieces, with its variety of dials, functions and diameters, is an ode to diversity and features luxury codes which are undeniably feminine and utterly universal.
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The new Missoni watch Fall Winter 2020 collection
A unique mix of the House’s iconic themes - like the unmistakable zigzag motif, the use of textures, lettering and prints - breathes life into watches that embody a casually sophisticated sense of elegance. Combining modern case bodies with signature patterns on dials and straps, the Missoni watches express the multicolor aesthetics and contemporary luxury vision of the brand, using the finest materials: original Missoni knit fabric, Italian leather and sapphire crystal. Rigorously Swiss Made, with an inimitable Italian flair, the collection features both ladies and gents models debuting on the market in Fall 2020. |
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Montegrappa releases the Extra Verses Pen
The wisdom of Ancient Rome’s greatest minds flows through the organic, burgundy veins of the legendary Extra. A special, small-batch iteration has been crafted from Montegrappite artisanal resin, with verses coined by Horace, Seneca and Cicero captured in sterling-silver detailing. Paired with connoisseur craftsmanship, their wise words fuel the formulation of your own sage thoughts. Made in strictly limited editions of 100 rollerballs and 250 high-calibre fountain pens, its unique optics innovate upon the legendary Extra silhouette with a body crafted from Montegrappite artisanal resin. |
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Celebrity News
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Zendaya wears BVLGARI for Green Carpet Fashion Awards
Actress and BVLGARI global brand ambassador Zendaya wore BVLGARI Serpenti High Jewelry while accepting the Visionary Award during the Green Carpet Fashion Awards. The Euphoria star chose a Serpenti high jewelry bracelet paired with Serpenti high jewelry earrings and finished with B.zero1 Rock and Serpenti Viper rings. |
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