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CEO of Baselworld watch fair organizer resigns; Thieves steal Swedish royal jewels from church; Private wealth in the UAE is expected to grow 8% in next five years
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Market News
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CEO of Baselworld watch fair organizer resigns
Baselworld watch fair, one of the most important events in the luxury goods calendar, has announced its chief executive has resigned following the surprise withdrawal from next year’s show of Swatch Group, its largest exhibitor. The departure of René Kamm, boss of the listed MCH Group, follows severe criticism of Baselworld this week by Nick Hayek, Swatch’s chief executive, who warned traditional trade fairs were rapidly losing relevance.
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Thieves steal Swedish royal jewels from church
According to the police, thieves in Sweden walked into a small town's medieval cathedral in broad daylight and made off with priceless crown jewels dating to the early 1600s before escaping by speedboat. Two men vanished after the heist into a vast patchwork of lakes around Strangnas, 37 miles west of the capital, Stockholm. The thieves snatched two gold crowns and an orb made for King Karl IX and Queen Kristina in the daring robbery. One of the crowns is encrusted with precious stones. The stolen items were on display at an exhibition in the cathedral, and visitors were inside at the time.
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Private wealth in the UAE is expected to grow 8% in next five years
According to a report by Boston Consulting Group (BCG), personal wealth in the UAE has grown at 8 per cent between 2016 and 2017 and is expected to grow at a compounded annual growth rate of 8 per cent over the next five years to reach $590 billion (Dh2.16 trillion) in investable assets by 2022. Data from BCG showed global personal financial wealth grew by 12 per cent in 2017 to $201.9 trillion in US dollar terms. The main drivers included the bull market environment in all major economies with wealth in equities and investment funds showing by far the strongest growth. The Middle East accounted for the highest share of wealth held in investable assets. Personal wealth in the Middle East rose by 11 per cent to $3.8 trillion in 2017, a significant increase compared with the compounded annual growth rate (CAGR) for the previous five years.
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Dubai attracts 8.1m tourists in first half
According to figures from the emirate’s tourism body, the number of international tourists visiting Dubai reached 8.1 million in the first half of 2018, nearly flat year on year. The figure is in comparison to the 8.06 million that visited Dubai in the first half of 2017, with the year-on-year growth rate at the time at 10.6 per cent compared to 0.49 per cent in the first half of this year.
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Company News
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Longines new tracking system to the King George Day
Longines was proud to provide its timekeeping and tracking expertise to all races of the King George Day through its newest Longines Tracking System. This game-changing technology provides instant data on the exact position of horses during a race, race rankings, the distance between horses as well as their acceleration and deceleration. In addition, it measures the horses’ covered and remaining distance in the race. During this prestigious event, the brand celebrated Cliffs of Capri’s victory in the Longines Handicap Stakes for Lady Riders by rewarding Gina Andrews, jockey, Melbourne 10 Racing, owner, Jamie Osborne, trainer and the groom with elegant timepieces.
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Alpina renew its collaboration with FIS World Cup Alpine skiing athlete Irene Curtoni
Alpina watches is honored to renew its collaboration with FIS World Cup Alpine skiing athlete Irene Curtoni as Brand Ambassador for the upcoming 2018-2019 Winter season. Her adventurous competitive nature brings Alpina’s DNA to life and highlights her commitment to training hard daily in order to reach the 1st place in major competitions. Next to her strong athletic performance, the charming skier is also well known for her outgoing personality. She embodies the brand’s emblematic Alpine spirit.
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Product Launch
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OMEGA launches a denim-inspired Railmaster
Thanks to its reliable design and superb anti-magnetic properties, the original OMEGA Railmaster of 1957 was perfectly suited to a role in working-class life. Today, the updated collection is proudly paying tribute to that industrial past with a new denim-inspired model. To link the iconic material with this new Railmaster, OMEGA has created a vertically-brushed “blue jeans” dial that features indexes and hands with light-grey Super-LumiNova. There is also a beige lollipop central seconds hand and transferred Railmaster indication that are both reminiscent of the coloured stitching found in denim jeans.
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Two new models of Officine Panerai Radiomir
In the two new models of the Radiomir, the cushion case of polished steel, with its slender wire loop strap attachments, reflects that of the first watches supplied by Panerai to the commandos of the Royal Italian Navy, and it has a steel back. The perfectly circular black dial harmonises perfectly with the rounded design of the characteristic Panerai font of the figures, lightly engraved on the dial the better to hold the luminous material which makes them perfectly visible even in the dark. The OP logo is at six o’clock, with its twin arrows pointing up to the sky and down to the depths of the sea, while – in the Radiomir Black Seal Logo only – the small seconds counter is at 9 o’clock.
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TAG Heuer unveils Manchester United Special Editions
To mark Manchester United's tour of the United States this summer, during which the Red Devils will prepare for the forthcoming English Premier League season, TAG Heuer is unveiling two new special editions honouring this iconic football team. The first model released by TAG Heuer will be the TAG Heuer Carrera Heuer 01. This illustrious special edition features the club’s colours. With a large yet streamlined diameter of 43 mm, this sporty piece has a distinctly modern, contemporary design. The second model is a TAG Heuer Formula 1 chronograph. Made entirely from steel, this football-inspired quartz chronograph features a notched steel bezel with a tachymeter scale. The Arabic numeral 12, in red lacquer and located at 12 o’clock, contrasts with the opaline anthracite dial, echoing the colours of Manchester United.
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Jaeger-LeCoultre adds new models to Rendez-Vous collection
Three original new models are joining the elegant and timeless Rendez-Vous collection to present another communion between fine watchmaking and high jewellery. These iconic pieces exhibit Jaeger-LeCoultre’s watchmaking expertise and showcase its characteristic Rare Handcrafts “Métiers Rares®” such as guillochage, gem-setting and decorative arts. Although seemingly classical in appearance, in the hearts of these three new Rendez-Vous pieces hides a bold brand of watchmaking that poetically reinterprets a number of feminine functions that have embodied the character of this collection since the beginning.
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IWC presents Portugieser Yacht Club Chronograph
The Portugieser Yacht Club Chronograph has a blue dial with white counters, rhodium-plated hands and the red secondhand of the chronograph produce an overall look that's deliberately casual. The transparent case-back in sapphire crystal offers an unimpeded view of the mechanical inner workings of this sporty chronograph.
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Galet Square Re´gulateur Black by Laurent Ferrier
Laurent Ferrier launches the Régulateur in a 5N red gold square case with an opaline black nickel dial. The combination of red and black is cherished by Laurent Ferrier and became a signature for its elegance, balance and legibility. Its visage is always classical, with the most important of the three indicators – the large, centrally-positioned hand – displaying the minutes. Above the centre, at 12 o’clock is the hours display, while below it, at 6 o’clock is the seconds subdial. The idea with a regulator is to separate the hours and minutes for increased legibility and precision. Regulator clocks were traditionally used by watchmakers to set their watches and by scientists for taking important measurements.
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Movado launches Museum Classic
The very definition of simplicity, the original Museum Watch was created in 1947 by industrial designer Nathan George Horwitt, who wanted to create a timepiece that suggested the idea of man’s first ever timekeeper – the sundial. In Horwitt’s words, “We do not know time as a number sequence, but by the position of the sun as the earth rotates.” He therefore dispensed with numbers and markers for the dial of the Museum Watch, which featured nothing but two hands and a solitary dot at 12 o’clock. The iconic dot symbolized the sun at high noon, while the movement of the hands represented the movement of the earth as it orbits the sun.
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Introducing the New Perlee Collection by Van Cleef & Arpels
True to its style of refined curves, the Perlée collection introduces new bracelet aesthetics to accentuate both hard stones and diamonds. A revival of the tradition of golden beads, these joyful creations shine in varied tones, suggesting infinite associations.
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Isotope introduces Palloncino di Perle
The concept and design respects the Isotope DNA with the central balloon shape in Mother of Pearl. The inspiration comes from the Streamline Moderne era and from our original design and 1st model, the Limited `Edition Rider Jumping Hour. All Isotope leather straps are "Quick Release" to allow easy exchange. This design allows a quick and easy change of strap. A new look in a few seconds... Our straps are all made of genuine leather and available in black, brown and white with a signed butter?y clasp. A special Italian mesh bracelet is also available as an option.
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Celebrity News
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Laura Harrier shines in Bulgari at the New York premiere of “Blakkklansman”
Bulgari Brand Ambassador Laura Harrier stuns in Bulgari High Jewelry Emerald, Pink Tourmaline and Diamond Earrings, paired with an Emerald and Diamond cocktail ring to the premiere of her new film 'BlacKkKlansman' in Brooklyn, New York.
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Henry Cavill wore his Jaeger-Lecoultre Polaris at World Premiere of Mission: Impossible – Fallout
At the world premiere of the 6th Mission: Impossible, a movie whose death-defying action includes gripping scenes set in Paris, British-born global movie star Henry Cavill wore his Jaeger-LeCoultre Polaris Chronograph in rose gold. In a series of recent photographs for Jaeger-LeCoultre, shot by Damian Foxe, Henry Cavill also chose to wear the Jaeger-LeCoultre Polaris in its Chronograph iteration. The Jaeger-LeCoultre Polaris Collection celebrates the 50th anniversary of the iconic Memovox Polaris watch from 1968.
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