Market News

UAE trade surplus soars by 36 percent in 2011

According to Arab Monetary Fund (AMF), UAE’s trade surplus has increased by 36 percent to USD86.2 billion, from USD63.5 billion a year earlier. The Abu Dhabi-based AMF added that in the year, exports of goods grew to nearly USD265 billion, whereas imports were at USD179.3 billion. It also said that high oil prices, which reached around USD105 a barrel, managed to turn a federal budget deficit of 1.3 percent of gross domestic surplus (GDP) in 2010 into a surplus of around 6.5 percent in 2011. It is worth noting that the UAE's current account surplus is forecasted to have increased to around 10.4 percent of GDP.

Sotheby’s Geneva to pay tribute to Founding Fathers of Modern Horology

On 15 May 2012, Sotheby’s Geneva will inaugurate its new “Day sales” of Important Watches, with a morning and an afternoon session starting at 9am and 2pm respectively. Independent watchmakers, from Breguet to George Daniels, are at the core of Sotheby’s international watch sales this year and the May sale will pay tribute to the founding fathers of modern horology, while also celebrating inventions that revolutionized watchmaking, such as the tourbillion. Covering five centuries of watch history, the 388 lots, estimated in excess of CHF 10 million/$10.9 million comprise iconic pieces from each pivotal era, from a 1540 French table clock (lot 208) to an exceptional grande complication pocket watch Reference 959 by Patek Philippe.

Antiquorum’s May Auction to highlight Patek Philippe and Audemars Piguet Royal Oaks collection

Antiquorum Auctioneers is pleased to present its' May 13^th auction of "Important Modern & Vintage Timepieces, Featuring the 40^th Anniversary of the Audemars Piguet Royal Oak" to be held at the Grand Hotel Kempinski in Geneva.  Highlighting the sale is a unique Patek Philippe perpetual calendar tourbillon pocket watch, Ref. 953 as well as an extraordinary collection of Audemars Piguet Royal Oaks in honor of the 40^th anniversary of the Royal Oak. Worldwide previews will be held in New York, Beijing, Shanghai, Hong Kong and Geneva.

Dubai airport traffic climbs by 15.4 percent

Dubai International Airport, the world’s fourth busiest hub for international passengers and freight, has continued its double-digit traffic growth for the third consecutive month according to Dubai Airports. Passenger traffic in March 2012 reached 4,848,320, an increase of 15.4 percent compared to 4,201,708 during the corresponding month in 2011. March is the third consecutive month for Dubai International with passenger numbers exceeding the 4.5 million mark, propelling traffic in the first quarter to 14,261,606, a surge of 16.1 per cent over the same period last year. It added that the surge was driven by traffic growth in the region following the increased liberalization of the Saudi Arabian aviation sector.

Company News

The Emirates-Longines show jumping season for 2011-2012 comes to a grand finale

Under the supervision of the Emirates Equestrian Federation (EEF) and sponsored by esteemed Swiss watchmaker Longines, the Emirates-Longines show jumping season for 2011-2012 recently culminated in an exciting finale. A host of show jumping competitions took place during the seasonat the different, elite equestrian clubs in Dubai, Abu Dhabi, Sharjah and Al Ain, with the most notable among them being the Abu Dhabi CSI 2*& Al Ain CSI 3*. Longines Show Jumping last Final 2012 tour was held between the 19th and 21st of April, coinciding with the  1st Sharjah Ruler's International Show Jumping Championship. Divided into different echelons that catered to a wide variety of riders who displayed their prowess while jumping over different courses and fences of different heights, the overall Longines final tour championship included Big Tours, Medium Tours and Small Tours, the Grand Prix of Sharjah Ruler’s International Championship and rides for beginners and young horses.

The Qode to represent 1915 by Seddiqi

The new “1915” by Seddiqi is a flagship concept destination for fashion watches and accessories in the Middle East. Part of the Seddiqi portfolio, 1915 by Seddiqi was created specifically to offer diverse watch and accessory options, excellent retail experience, high-quality customer service, and affordable prices. Offering 12 leading fashion brands that are updated by season and reflect the dynamic and diverse tastes of its customers, the first retail outlet was launched in February 2012 at Deira City Centre, Dubai.

IWC opens its first flagship boutique New York City

IWC Schaffhausen opened its first US Flagship Boutique in New York City at 535 Madison Avenue, the largest of its kind worldwide. The more than 3'ooo square-foot, bi-level boutique presents the most complicated Swiss timepieces, and welcomes visitors to an inspirational voyage into the multifaceted world of IWC. In fact, this opening marks a return to American roots. Florentine Ariosto Jones, an American, is the legendary figure who launched IWC Schaffhausen in 1868. Since then, the luxury Swiss watch brand has made great strides in complicated technological developments and innovative design - now housed in classic timepieces.

Jaeger-LeCoultre at Place Vendome

Jaeger-LeCoultre presents one of its legendary watches in the unique setting of the celebrated Place Vendome in the heart of Paris. Installed for 5 months, the lavish set was designed as a preview of the expansion of the watchmaker's flagship store. The legendary Place Vendome, the beating heart of the French luxury world, with its glittering palaces and magnificent jewellery boutiques, remains the international epitome for quality and outstanding craftsmanship. This representation of the Reverso swivelling case, which last year celebrated its 80th anniversary, the Reverso Gyrotourbillon 2 model is presented in 3D and reaches a height of over 6 metres. Each element of the mechanism has been painstakingly reinterpreted by the artist and the director in order to lend maximum authenticity to this feat of technical and artistic prowess.

Damiani at the "Tradizione e Innovazione" exhibition in Shanghai

On 28 April 2012 in Shanghai, Damiani will open "Tradizione e innovazione", the first of the three exhibitions organized by the Milano Triennale and the Shanghai Expo Group, which will run until January 31, 2013. The exhibition will last three years altogether to present Italian art, crafts, fashion, design and technology. The set up will change every year. Damiani will contribute to the exhibition with two iconic collections of the brand, Gomitolo and San Lorenzo. Gomitolo is the Damiani collection that sealed the triumph of the pave manufacture and has ennobled the use of small diamonds as a mantle of light. The Notte di San Lorenzo collection is dedicated to the night of August 10 when, in Italy, people make a wish looking at shooting stars, the San Lorenzo collection will present a parure, ring and earrings in white gold and diamonds.

Ulysse Nardin announces its partnership with Ochs und Junior

Ulysse Nardin and Ochs und Junior are pleased to announce the decision to mutually intensify their commitment and make their partnership official. This financial investment by Ulysse Nardin follows the premiere of the new Ochs und Junior business location at Zurcherstrasse in Lucerne. Ulysse Nardin’s participation in Ochs und Junior is part of a long-term strategy and aims, firstly, to establish a stronger synergy between the two companies. Secondly, it serves to consolidate and sustain the relationship between Ludwig Oechslin and Ulysse Nardin after his planned resignation as curator and director of the Musee International d'Horlogerie in 2014.

Tissot Pole Position Awards

Former World Champion Jorge Lorenzo prevented current World Champion Casey Stoner from securing his fourth consecutive pole position at the Grand Prix of Qatar when he grabbed pole position for the opening round of the MotoGP™ World Championship at the Losail International circuit. Under the floodlights at the 5.380 circuit situated ten kilometers outside Doha, Lorenzo riding the factory Yamaha led the way after the three practices to head the one hour qualifying session. He received his pole setting Tissot T-Touch Expert watch from Mr Ziad Nehme, the Regional Brand Manager for Tissot, after leading Stoner by just over two tenths of a second.

Rafael Nadal won his 8th consecutive title wearing the Richard Mille RM 027

Richard Mille congratulates the fabulous victory of his partner and friend Rafael Nadal during the ATP Masters 1000 in Monte Carlo. For the first major clay event of the season Rafael Nadal strikes a blow and won masterfully in 1 hour and 18 minutes against his opponent, the Serbian Novak Djokovic. Winning the final in two straight sets, (6-3, 6-1) against the World Number 1, Rafael Nadal won his 8th consecutive title during the ATP Masters 1000 in Monte Carlo and his 42nd consecutive match in Monte Carlo. With his 8 successive titles, Rafael Nadal has achieved a unique record and a first in the history of tennis. The Majorcan won this 8th consecutive title wearing his Richard Mille tourbillon wristwatch. Since 2010, the RM 027, the lightest mechanical watch ever produced accompanies Rafael Nadal in all major international tournaments and resists his powerful game.

Product Launch

Montblanc unveils the “Collection Princesse Grace de Monaco” in Dubai

As part of an historic global tour to select cities around the world, Montblanc’sexquisite Princesse Grace de Monaco collection has arrived in Dubai. Paying tribute to the beautiful and revered Princess Grace of Monaco, the collection of precious, handcrafted jewellery, timepieces and writing instruments is both feminine and timelessly elegant.   Dubai is one of just 22 cities around the world to receive the dazzling travelling collection which forms the centrepiece for a stunning commemorative exhibition of the late Princess taking place in the Dubai Mall from 25^th April to 7^th May. Inspired by Princess Grace’s sophistication and her love of  roses, Montblanc’s Creative Director Carlo Giordanetti worked closely with Albert II, Sovereign Prince of Monaco, to design each piece of the tribute collection. Every detail of the collection reflects Princess Grace’s alluring spirit, poise and glowing charm.

Cartier celebrates the launch of Tank Watch Collection

Cartier UK celebrated the launch of the Tank Anglaise, part of the iconic Cartier Tank collection on 19^th April at the Orangery, Kensington Palace Gardens. It was unveiled in true Cartier style alongside the Tank Folle and the Tank Louis Cartier XL Extra Flat.  Cartier bell boys greeted guests at the entrance of the Orangery, where they were then escorted through the West Apse, decorated by bay trees interlaced with candle lights. Within the Orangery guests were invited to view the iconic vitrine’s displaying the historic Tank watches. At 8.30pm, flanked by trumpeters the Master of Ceremonies brought the guests to attention. With some welcoming words, Arnaud M. Bamberger, Executive Chairman of Cartier UK, proceeded to unveil the Tank Anglaise to great applause and celebration. Cartier UK was pleased to welcome both friends of the Maison, as well as ambassadors of the Tank Anglaise.

Ultimate Adornment by Harry Winston

Through its latest collection of incredible jewels, the House of Harry Winston arrives one step closer to achieving Mr. Winston’s ultimate dream to one day dress a woman purely in diamonds, while exploring the art behind our most time-honored traditions of craftsmanship and design. Entitled Ultimate Adornments by Harry Winston, this incredible array of spectacular designs envisions the international art of dressing a woman in the unique style that only Harry Winston can. In creating this exceptional collection, the Harry Winston Design Team returned to the archives for inspiration, including the works Ambaji V. Shinde, Mr. Winston’s chief jewelry designer for more than 40 years (1962-2001). Hand crafted entirely in diamonds and platinum, the 40-piece collection is presented through seven distinctly different themes, each recalling unique adornments from around the world.

Swarovski announces the Face of Swarovski’s Fall Winter Fall 12/13 Campaign

Swarovski has for the first time chosen an actress to be the face of its advertising campaign. Berenice Marlohe, the French actress starring in the upcoming James Bond, SKYFALL, will embody the Swarovski woman for Fall Winter 2012/13 worldwide. Swarovski sees Berenice as the perfect complement for its collection which celebrates a sophisticated rock attitude and a baroque sense of style. By choosing Berenice Marlohe for its campaign, Swarovski proves its flair for a charismatic actress soon to be in the spotlight. Besides, Swarovski will unveil wider activities linked with the release of SKYFALL & the 50^th anniversary of Bond films.

Carrera y Carrera presents the new Musica Collection

Melody, harmony, and rhythm are fused together in the new collection from Carrera y Carrera. Inspired by music, so inherent to Spanish culture, Musica is a collection where emotions are expressed and reinterpreted in each of the exceptional pieces. An innovative collection designed to waken your senses, it is full of volume and reveals an outstanding combination of the company’s characteristic matte-shine effect on gold. Musica collection features Danza collection, Alegrias collection, Melodia collection and Concierto collection.

Hamilton launches the Men in Black 3

MIB Agents add the Hamilton Ventura to their iconic uniforms in "Men in Black 3". In the highly anticipated action adventure comedy Men in Black™ 3, the Men in Black will once again add the distinctive Hamilton Ventura watch to their iconic uniforms. As Agent J goes back in time, different versions of the Hamilton Ventura help evoke different eras as all MIB agents wear the unique timepiece. The Men in Black 3 creative campaign 2012 showcases the watch's versatility and features two contrasting Ventura models: the Hamilton Ventura XXL, appropriately styled with a black rubber strap and sleek black dial, and the elegant Hamilton Ventura Medium, favored by the Men in Black supporting agents, which complements a black dial with a classically elegant stainless steel case.

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