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GCC economic growth is expected to bottom out this year, Dubai economy records faster output growth in June, Richemont sells Shanghai Tang to Italian entrepreneur Bastagli
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Market News
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GCC economic growth is expected to bottom out this year.
The GCC’s economic growth which faced strong headwinds following prolonged low oil prices and the slump in international trade, is likely to bottom out this year and a turnaround is expected from 2018, according to recent economic forecasts.
GCC budget deficits to recover in 2017 and 2018 but will remain in double digits. Although the economic recovery will vary across countries, economists and analysts see a broad trend of recovery starting early next year with budget deficits starting to narrow from this year.
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Richemont sells Shanghai Tang to Italian entrepreneur Bastagli.
Richemont has retailed Chinese fashion brand Shanghai Tang to a consortium of investors led by Italian businessman Alessandro Bastagli.
Founded in 1994 by Hong Kong businessman David Tang as a high-end tailor, Shanghai Tang has 32 boutiques worldwide, selling Asian-inspired clothes for men and women as well as accessories and homeware.
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Company News
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Japanese Corporation, Misuzu acquires Jaermann & Stübi AG.
Jaermann & Stübi, part of the Rapperswil-based Excellence Holding AG group, has been bought by Japanese corporation, Misuzu. Jaermann & Stübi’s timepieces are designed for golfers. |
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Damiani opens its boutique in the Dubai Mall.
Damiani inaugurates its new boutique at the Dubai Mall, the world's largest luxury mall and a favorite destination for anyone travelling to the United Arab Emirates. In this shopping mecca, the Maison showcases its most sophisticated jewelry collections, complemented by a selection of glass artworks by Venini. |
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VOD Dubai International Jewellery Show partners with Dubai Gold and Jewellery Group.
VOD Dubai International Jewellery Show, has emphasised its status as the flagship business and education platform for the MENA region’s jewellery community via a strategic partnership with Dubai Gold and Jewellery Group (DGJG). Dubai International Jewellery Week will be held in Dubai, UAE starting on 15th Nov, 2017 and will end on 18th November, 2017. |
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Cartier launches its 2018 Women’s Initiative Awards.
Cartier with the launch of the 2018 edition of the Cartier Awards, Cartier remains deeply committed to supporting women entrepreneurs and creative excellence from around the world. The call for applications for the 2018 edition of the Cartier Women’s Initiative Awards will close on August 31, 2017 at 2:00 PM (CET) and the 18 finalists will be announced early 2018.
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Graham Pin-up Girls hits the Streets of Hong Kong.
The Hong Kong public were strangely drawn to Sally, Nina, Lilly and Anna as they generated a very festive atmosphere. The pin-ups walked around the streets wearing the Chrono fighter Vintage Nose Art Ltd. on their wrists and posed for pictures. |
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Caroline Scheufele and Chinese fashion designer Guo Pei presents a unique High Jewellery collection.
Guo Pei presents her Couture collection for the fourth time in Paris at the prestigious hotel Salomon de Rothschild. Guo Pei has been working hand in hand with Caroline Scheufele, Co-President and Artistic Director of Chopard, in order to present their ideal vision of Couture and High Jewelry. |
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Longines and Kate Winslet come together to introduce a timepiece for a cause.
Longines and its celebrity ambassador Kate Winslet have partnered up once again to introduce an exclusive new watch collection. The Flagship Heritage by Kate Winslet is offered in gold as a nod to the Golden Hat Foundation. |
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Product Launch
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Audemars Piguet introduces the new Royal Oak Offshore Diver.
Following the success of the 2016 launch of the Royal Oak Offshore Diver Chronograph in a range of fizzing bright and vibrant dial colours, Audemars Piguet now introduces the non-chronograph model to the Middle East in similarly exciting hues, just in time for summer. Proposed in white, dark blue, acid yellow, lime green and bright orange, the new Royal Oak Offshore Diver models are fitted with rubber straps in matching colours and an additional blue rubber strap for each version. |
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Officine Panerai reveals Luminor Marina 1950 3 Days Automatic Titanio - 44 mm edition.
Officine Panerai pays tribute to the Middle East region with the launch of two new Luminor Marina timepieces, The first of the two new Special Edition watches is the Luminor Marina 1950 3 Days Automatic Titanio (PAM00734), created in a limited edition of 100 units and featuring a sand dial, a colour reminiscent of the golden Arabian Desert. The second Special Edition (PAM00733) is produced in a limited edition of 50 units and features a dial of a brilliant and intense blue, a colour reminiscent of Panerai’s passion for the sea. |
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Walteri introduces Oceaner 41 watch.
The Oceaner 41 watch comes with a high-quality case construction (no plastic here) and is rated water resistant to 30m (perfect for showing off at the beach.) Plus, it’s powered by a Japanese quartz movement. The Oceaner 41 has Nato strap. |
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TAG Heuer unveils TAG Heuer Connected Modular 45.
The special edition of the TAG Heuer Connected Modular 45 was unveiled at an exclusive preview of footage from the highly anticipated Kingsman: The Golden Circle, in London by Jean-Claude Biver, CEO of TAG Heuer and President of the LVMH Group Watch Division, alongside Kingsman: The Golden Circle Director, Writer and Producer Matthew Vaughn and Toby Bateman, Managing Director of MR PORTER. |
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F.P.Journe unveils the Chronographe Monopoussoir Rattrapante for Only Watch.
F.P.Journe has developed an entirely new watch exclusively for Only Watch. It is a unique watch that will never exist in the F.P.Journe collection. The watch is unique, the dial is unique, and the case is unique. |
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ARMIN STROM presents Manual Hunt Slonem Edition for Only Watch.
Armin Strom presented it’s timepiece for Only Watch Auction 2017, which blends together art and watchmaking thanks to the collaboration with Hunt Slonem, the American artist. The Armin Strom Manual “Hunt Slonem Edition” for Only Watch comes in a titanium case with a diameter of 43.4 mm. the straps are genuine black alligator horn-back and titanium ardillon buckle. |
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Celebrity News
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Bella Hadid shines in Messika diamond Jewellery to the Vogue Paris Foundation.
Bella Hadid wears the Messika Flappers necklace from the 2017 High Jewellery Collection, ‘Paris est une Fete’ to compliment her Giambattista Valli gown. |
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