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Abu Dhabi's GDP increases by 4.5% in Q3 2024, driven by the non-oil sector; Patrick Chalhoub steps down as CEO of Chalhoub Group
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Market News
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Abu Dhabi's GDP increases by 4.5% in Q3 2024, driven by the non-oil sector
Abu Dhabi’s economy expanded by 4.5 per cent in Q3 2024 compared to the same period last year, reaching a record high of Dhs301.8bn, according to the latest report from the Statistics Centre – Abu Dhabi (SCAD). The growth was propelled by a strong performance in the non-oil economy, which grew by 6.6 per cent year-on-year. Despite global economic challenges, Abu Dhabi has demonstrated resilience, outpacing many global forecasts.
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Patrick Chalhoub steps down as CEO of Chalhoub Group
Chalhoub Group, a major luxury player in the Middle East, sees the transition to the third generation. From January 1, 2025, Patrick Chalhoub steps down as CEO and pass the leadership to his son, Michael Chalhoub, 37. Patrick will continue in an executive chairman capacity, maintaining a strategic presence in the company, as reported by WWD. Michael, who has built significant experience in strategy, innovation, and joint ventures, will now focus on fostering key partnerships and pushing forward sustainability objectives in the business. As a leading distributor of luxury brands in the region, Chalhoub Group excels in the marketing of fashion, beauty, jewellery, and watches.
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Product Launch
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Perrelet introduces new versions of its iconic Turbine Lady
The Turbine is undoubtedly Perrelet's most famous collection, appreciated for its countless lower-dial variations, which give the watches ever new visual effects and demonstrate the extraordinary creativity of the Perrelet designers. Today, Turbine Lady offers three brand new models, developed in eight references characterised by dominant colours and refined finishes. |
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Charmaleena unveils New Design Studio in Riyadh and launches New Collection at Riyadh Fashion Week
Charmaleena, the renowned Saudi fine jewellery brand, proudly announces the opening of its new design studio and showroom located in the heart of Riyadh. This intimate space offers personalized, one-on-one experiences, where clients can explore, customize, and create unique jewellery pieces that reflect their stories and style. The milestone opening coincides with the launch of new pieces from the Tales & Treasures collection, celebrated as part of Riyadh Fashion Week at the prestigious Roka Restaurant. Guests at the event will experience the unveiling of new drops from the Tales & Treasures collection, including charms that tell personal stories and pieces designed to be passed down for generations. |
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Christofle unveils the Dubai MOOD Skyline Collection
Christofle, the legendary French Maison renowned for its exceptional silversmithing, proudly introduces the MOOD Skyline Collection - a celebration of global architectural heritage. This latest innovation reimagines the iconic MOOD line, combining ergonomic design with the Maison’s unparalleled craftsmanship. Each cutlery set in the MOOD Skyline Collection is meticulously crafted by Christofle's Master Silversmiths, embodying rounded and generous forms for effortless handling. With pure, modern lines, these versatile designs adapt seamlessly to any table setting, from elegant formal dinners to convivial everyday gatherings. Enhanced by Christofle’s signature brightening process, the pieces radiate a unique mirror-like shine, elevating the art of dining. |
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Exhibitions & Events
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Vicenzaoro January: Premier Italian and Global Jewelry Brands at the IEG Exhibition
Made-in-Italy and international high jewellery will be meeting the Vicenzaoro business community from 17th to 21st January. Iconic brands, prestigious comebacks and several new entries will offer the most complete overview of luxury jewellery. Italian Exhibition Group's boutique show opens the international gold and jewellery exhibition calendar with yet another all sold-out: 1,300 exhibiting brands, 170 of which attending the T.Gold technology show. Of the seven product districts into which Vicenzaoro January is divided, from the gems of “Essence” to the jewellery of “Creation”, through to the contemporary jewellery of “Look” and the packaging of “Expression”, “Icon” is where high-end is presented to the market. |
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Hon’ble Minister Mangal Prabhat Lodha Inaugurates IIJS Signature 2025
Shri Mangal Prabhat Lodha, Hon’ble Minister of Skill Development, Employment, Entrepreneurship & Innovation, Govt. of Maharashtra, inaugurated the 17th edition India International Jewellery Show (IIJS) Signature organised by India’s apex trade body, Gem & Jewellery Export Promotion Council (GJEPC). The inauguration ceremony was also graced by the presence of several esteemed dignitaries, including Guest of Honour Shri Saurabh Gadgil, Managing Director and CEO, PNG Jewellers Ltd.; Shri Umesh Pandey, Thai Trade Representative; Shri Vipul Shah, Chairman, GJEPC; Shri Kirit Bhansali, Vice Chairman, GJEPC; Shri Nirav Bhansali, Convener, National Exhibitions, GJEPC; and Shri Sabyasachi Ray, Executive Director, GJEPC. Organized by the Gem & Jewellery Export Promotion Council (GJEPC), IIJS Signature 2025 has grown exponentially, featuring over 1,500 exhibitors across 3,000 stalls, covering 1.25 lakh square meters of exhibition space across two venues - JWCC and Bombay Exhibition Centre (BEC). |
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