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Riyadh ranks among the top 15 fastest-developing cities; UAE travellers warned against non-disclosure of excess cash, valuables
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Market News
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Riyadh ranks among the top 15 fastest-developing cities
Riyadh has been named one of the top 15 fastest-growing cities by 2033, according to the Savills Growth Hubs Index, part of Savills’ global thought leadership programme, Impacts. The Saudi capital’s inclusion highlights the city’s significant potential for development and business expansion, driven by Saudi Vision 2030. Riyadh, is projected to see a 26 per cent population growth, rising from 5.9 million to 9.2 million in the next decade. This population boom is expected to spur continued government investment in mega infrastructure projects and improvements in amenities and services. Supporting this growth, Saudi Arabia has seen a notable increase in foreign direct investment (FDI). Government data showed a 5.6 per cent rise in net FDI inflows to SAR9.5bn ($2.53bn) in the first quarter of 2024 compared to the previous year. |
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UAE travellers warned against non-disclosure of excess cash, valuables
The Abu Dhabi Judicial Department (ADJD) has issued a warning to travellers passing through the country against the non-disclosure of “currencies, precious metals and precious stones” of sizeable value through any point of entry in the UAE. The department said in its warning bulletins on its website that failure of travellers arriving in or departing from the Emirates through airports or ports to disclose money, precious metals and precious stones whose value exceeds Dh60,000 is a punishable crime. A traveller, if found guilty, may be subject to imprisonment and a fine depending on the value of the undisclosed possessions. |
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Company News
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Breitling opens 400 M2 pop-up store on Avenue des Champs-Élysées in July
Breitling has recently announced the opening of its brand-new pop-up store on Paris’ Champs-Élysées. The pop-up store heralds a key milestone in the brand’s history. Indeed, it will be the largest watch boutique on the Champs-Élysées and one of the biggest in the world, equal in size to the Breitling boutique on New York’s Madison Avenue. This opening reinforces Breitling’s presence in the heart of the French capital, coming right on time to celebrate the brand’s 140 Years of Firsts. These 400 m2 of lifestyle space, located at number 76 on the Champs-Élysées, promises visitors a total immersion in the brand’s emblematic universe. Watch collectors and enthusiasts alike will be able to check out an impressive selection of Breitling watches come July, bringing together cutting-edge technology and unrivaled design to represent the brand’s different universes. |
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A. Lange & Söhne as presenting partner of the first Concours of Elegance Germany at Lake Tegernsee
On the 26th and 27th of July 2024, the first Concours of Elegance Germany brought together numerous automobile enthusiasts at the historic Gut Kaltenbrunn estate on Lake Tegernsee. 50 of the world's rarest and most valuable classic cars, complemented by displays of another 150 exhibits from specialist Concours and car clubs, were presented by their proud owners against a picturesque Alpine backdrop. The technical excellence and the elegant mechanics displayed in the historic vehicles on the exclusive starting field provided A. Lange & Söhne a worthy platform for the presentation of its timepieces, which are manufactured to the same standards of perfection. Like the pioneering masterpieces on wheels, they stand for the art of engineering and the pursuit of innovative technical solutions. |
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Schwarz Etienne & La Division du Temps welcomes Mr. Florian Brossard
Schwarz Etienne & La Division du Temps announced Mr. Florian Brossard as their new Managing Director. Mr. Florian Brossard took up his position on 1st July 2024 and replaces the previous co-management team. His solid experience and broad skills acquired over more than 20 years in the world of Haute Horlogerie have enabled him to acquire knowledge and a structured and diversified vision of the creation, development, production and promotion of high added value watchmaking products. Since summer of 2023, Schwarz Etienne and La Division du Temps have moved at the Villa Sonnenheim, one of La Chaux-de-Fonds' most emblematic residences and the perfect gift-box to host their high-end timepieces. |
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Product Launch
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Czapek & Cie introduces the Place Vendome Complicité Stardust Cobalt
The Place Vendome Complicité Stardust Cobalt continues the legacy of the Complicité Stardust and Harmony Blue editions, launched in August 2023, featuring a double escapement that epitomises precision and reliability. This sophisticated mechanism is elegantly showcased beneath a butterfly-shaped sapphire glass bridge positioned prominently at 12 o'clock, a signature element that enhances the watch's allure and technical intrigue. The double escapement with a central differential creates a stunning kinetic sculpture. The watch features the manually wound Calibre 8, providing a 72-hour power reserve visible on the dial through sapphire bridges. |
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Ulysse Nardin introduces the Diver [Atoll]
Through the 100-piece limited-edition of Diver Atoll, Ulysse Nardin charts a brand-new course to sun-drenched, undiscovered climes, enriching the Diver 39mm with an astonishing stone-cut dial of chrysocolla. This mesmerising gemstone, a kaleidoscope of striking blues and turquoises accented with swirls of earthy browns and blacks, conjures visions of tranquil lagoons, vibrant coral reefs and limitless ocean horizons. Following previous gem-set models with mother-of-pearl and aventurine dials respectively, the new Diver Atoll is a prime example of the brand’s expertise and ability to overcome technical challenges to create exceptional timepieces. |
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Bell & Ross presents BR 05 Artline Steel & Gold
Launched in 2022, the Artline range offers, through the BR 05 urban collection, a strong design inspired by the Art Deco movement of the 1930s interwar period. The Streamline movement, initiated in the United States in the 1930s, perfectly exemplifies a harmonious blend of form, materials, and technical know-how. Blending industrial design with aerodynamic elements, Streamline embodies the ascent of functionalist aesthetics. This movement also marks the birth of a new profession: that of the designer. The pioneers of this movement, notably Raymond Loewy, introduced everyday objects that embraced the avant-garde lines of contemporary trains, aircraft and automobiles. |
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Introducing Joker ‘Fiat Lux’, a new character in the Wristmons collection by Konstantin Chaykin
The Joker watch and other Wristmons became a unique art project that developed from the outset according to an almost unpredictable scenario. To date, there are around forty Wristmons that Konstantin Chaykin has invented over the years – from the original Joker to the fantastic Martian Tourbillon, which works to the rhythm of the rotation of Mars, and the super-complex Stargazer watch with 17 complications. Chaykin’s Wristmons collection is a very extensive project, for which it is difficult to find an equivalent in the annals of watchmaking. |
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Montegrappa launches Marconi Model 150
Italian inventiveness salutes a legendary Italian inventor as we celebrate the life of Guglielmo Marconi. Marking 150 years since his birth, editions of 150 fountain pens and rollerballs combine vintage materials and design with modern Italian ingenuity on Marconi Model 150. As the inventor of wireless telegraphy, Guglielmo Marconi (1874-1937) is a technological vanguardist: a Nobel Prize-winner whose curiosity led to one of history’s most consequential discoveries. Early-century materials used in the creation of Marconi Model 150 are palisander rosewood and brass, with each hardware component precisely milled in-house using state-of-the-art machining. Copper elements are mimicked with rose-gold electroplating, while steel wire and braided cable also feature in the design. |
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