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UAE’s 2022 GDP grows 7.9%, driven by non-oil activities; Greubel Forsey announces major expansion and an investment in excellence
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Market News
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UAE’s 2022 GDP grows 7.9%, driven by non-oil activities
The UAE’s gross domestic product (GDP) expanded by 7.9 per cent in 2022, driven by innovative economic initiatives related to the non-oil sectors and activities. Abdullah bin Touq Al Marri, Minister of Economy, said that the preliminary estimates for 2022 GDP reaffirm the robustness of the country’s economic performance and its achievement of positive growth rates that exceeded estimates. The preliminary data from the Federal Competitiveness and Statistics Centre (FCSC) shows that the UAE’s GDP in 2022 hit the $441.1bn (Dhs1.62tn) mark at constant prices while at current prices it reached Dhs1.86tn, up 22.1 per cent from Dhs337bn in 2021. Al Marri said the UAE is working to build an innovative economic model that serves its future vision, by adopting flexible economic policies that rely on speed and accuracy in responding to global changes while adopting stimulating economic strategies and forward-looking economic plans based on economic diversification. |
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Company News
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Greubel Forsey announces major expansion and an investment in excellence
Greubel Forsey's Atelier Manufacture in La Chaux-de-Fonds (Switzerland) will almost triple in size. This investment of 20 million Swiss francs is in line with the brand's current dynamic growth, aimed above all at further strengthening R&D and innovation, craftsmanship and meeting the growing demand for timepieces. The expansion will be completed and operational by 2026. With this expansion plan, Greubel Forsey's Atelier Manufacture will be extended from 2,000 to 5,460m2. |
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TIME TO RACE clinches Louis Moinet’s seventh Red Dot Design Award
At the award ceremony, Louis Moinet's creations were once again recognized for their design excellence. This seventh Red Dot Design Award distinction highlights TIME TO RACE Green Racing, a collection of unique pieces. The illustrious jury was made up of fifty experts including such celebrated icons of industrial design as Ken Nah, Hideshi Hamaguchi, and Gordon Bruce. Their verdict gave Les Ateliers Louis Moinet its seventh Red Dot Design Award and reaffirmed the brand’s eminent position in a distinguished international pantheon alongside notable stars of design like Apple, Ferrari, Kartell, and Bang & Olufsen. It also confirmed the effusive creative powers of CEO and Creative Director Jean-Marie Schaller, who, over the past twenty-plus years, has built and shaped a brand with a reputation for unique and innovative timepieces.
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Chopard X aespa
Having caught the eye of Chopard Co-President and Artistic Director, Caroline Scheufele, with its youth, creativity and abundant energy, highly popular South Korean girl group aespa will be the face of an exciting new campaign to be launched by Chopard this summer. Extremely successful both at home and abroad, the super cool, all-girl K-pop group will thus personify Chopard’s Happy Sport, Happy Diamonds, Ice Cube, Alpine Eagle, and Precious Lace collections, along with the Maison’s latest stunning My Happy Hearts collection. Just like Chopard itself, innovation is embedded in the DNA of aespa, whose name was in fact derived from a combination of ‘Avatar X Experience’ & ‘aspect’. The concept is designed to represent innovative activities driven by the theme of “Experiencing a new world via the encounter of the ‘avatar’, your other self”. |
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Cartier announces Ahmed Malek as an Ambassador
Cartier has recently announced Egyptian actor Ahmed Malek as the Maison’s newest Ambassador. With a presence both in the Middle East and in international scene, Ahmed embodies a new generation of actors from the region. Most recently featured in Netflix’s “The Swimmers”, he will next be starring in the new BBC project “Boiling Point”.
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Product Launch
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Introducing the Bulgari Resort collection 2023
The Bulgari Resort collection. Including an exclusive selection of vibrant jewelry, precious watches, limited Edition handbags, luminous fragrances and vivacious High Jewelry creations. Since its origins, Bulgari has drawn inspiration from the energy, radiance and effervescent vitality of Italy’s evocative nuances, expressing this natural exuberance and uplifting spirit through the language of colored gemstones, original designs and surprising craftsmanship. |
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Introducing the new Top Time Deus and Top Time Triumph by Breitling
Breitling’s latest collaborations with Deus Ex Machina and Triumph Motorcycles get a mighty upgrade with the addition of the Breitling Manufacture Caliber 01. Breitling used the backdrop of the Wheels & Waves surf-and-motorcycle festival in Biarritz, France, to launch the two latest editions to its Top Time range. The brand’s “unconventional chronograph”, first released in the 1960s, started as a boldly designed tribute to the freewheeling spirit of its era. Today, the racing chronograph maintains its strong identity while being all about motorbikes, classic cars, and adventure on the open road. The two new pieces build on the success of Breitling’s past collaborations with Deus Ex Machina and Triumph Motorcycles, and take them into high gear with the introduction of the exceptional Breitling Manufacture Caliber 01. |
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Bell & Ross launches BR 05 GMT Sky Blue
The sky is one of the most beautiful places on Earth. These two complementary spaces have been part of Bell & Ross’ DNA right from the start, a source of inspiration and creativity for the house. The new BR 05 GMT Sky Blue with its exclusive blue-tinted dial celebrates a coming-together of the azure sky and the blue planet. A celestial and inspiring colour, natural as much as symbolic, contemporary with millennial roots, blue has a special significance because it is everywhere. Both aerial and urban, for the traveller and the city dweller, sporty and chic: the BR 05 GMT Sky Blue is all about duality. The BR 05 GMT fully assumes its international vocation. Designed for travelling, it offers contemporary globetrotters a clear and simple display of a second time zone thanks to a fourth hand. |
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Presenting the new watch collection from Singer Reimagined
Singer Reimagined timepieces are by definition a love letter to the vintage design of iconic 60’s and 70’s timepieces. Singer 1969 is the new watch collection designed to pay tribute to the style of that era even further. A new 40mm stainless-steel watch case, revised displays and a brand-new metal band. The quintessential elements for an icon to be, able to fit every kind of wrist. The movements, AGH 6365 and AGH 6363, are a re-engineered version of the award-winning Agengraphe and the versatile Flytrack, designed to fit their new 40mm housing. New displays to enhance functionality, both movements are engineered and produced to unique Singer specifications by Agenhor. |
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Backes & Strauss presents the Regent Theo Fennell Rainbow
Backes & Strauss announces the release of its latest masterpiece - The Regent Theo Fennell Rainbow, a captivating wristwatch that effortlessly combines artistry, innovation, and British heritage. This extraordinary timepiece, created with the collaboration with the esteemed British jeweller Theo Fennell, embodies the spirit of elegance and sophistication, showcasing a unique design that pays homage to the iconic Regent Street in London. Inspired by the allure of Regent Street, the watch features an elegant oval-shaped case, measuring 40x47 cm, perfectly blending classical aesthetics with contemporary sensibilities. The piece unique is in Rose gold set with two rows of Ideal-cut round brilliant diamonds. And in addition there are nine pieces in a stainless steel case coated in black PVD. |
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