Market News

GCC states agree on key issues for VAT

Gulf states have agreed on key issues for implementing value-added tax in the region, an official from the United Arab Emirates finance ministry said recently, moving the six nations closer to introducing direct taxation for the first time. The agreement was reached at a meeting of representatives from Gulf ministries a few days ago, Younis Haji Al Khouri, undersecretary at the UAE ministry of finance, told reporters on the sidelines of a media event. Introducing VAT would be a major economic reform in the Gulf Cooperation Council states, which have minimal tax systems and no tax on income, although some levy fees such as road tolls. The plunge of oil prices since last year has slashed government incomes, making it more urgent for them to find new revenue.

Company News

Cartier hosts International Dubai Polo Challenge

Under the patronage of HRH Princess Haya Bint Al Hussein, wife of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, The 11th edition of the prestigious Cartier International Dubai Polo Challenge 2015 concluded on 12th December 2015 with an 8-4 win for Desert Palm, featuring Tariq Albwardy and Rashid Al Habtoor. Their valiant opponents today were Habtoor Polo, headed up by Rashid’s brother Mohammed Al Habtoor and Stuart Wrigley. The event was once again held at Ali Albwardy’s Desert Palm Resort and Polo Club. This is the first time that Cartier has hosted its revered Dubai Polo Challenge tournament in December and four 8-goal teams took part, featuring players from UAE, Jordan, Saudi Arabia, England, Sweden, Argentina, and Spain.

Swatch opens its fourth Global flagship store in Dubai

Swatch has launched its newest global flagship store at The Dubai Mall. One of only four flagship stores, the latest addition presents an original interpretation of contemporary retail design. Walls are adorned with iconic regional landmarks including the Swiss Alps and Burj Khalifa in addition to playful billy goats, camels and alphorns. Located on the lower ground floor of The Dubai Mall and managed by The Rivoli Group.

HAUTLENCE introduces new CEO Sandro Reginelli

Georges-Henri Meylan, MELB Group Chairman announces the arrival of Sandro Reginelli as the new CEO of HAUTLENCE and Guillaume Tetu will be leaving the company to take up a new challenge. Sandro has all-round skills in global management and has held Executive responsibilities at Gucci Timepieces, Tag Heuer, Maurice Lacroix and Zino Davidoff.

Roberto Coin opens the new boutique in Rome

Roberto Coin celebrates the opening of its new boutique in Via del Babuino 73 in Rome. In addition to the new location, Roberto Coin is launching a charity initiative in partnership with the Bambino Gesù Pediatric Hospital. In fact, the collection Tiny Treasures will be displayed in one of the windows. The branding of the collection included an image of the hospital that will receive in donation a part of the profits from the sale of these pieces.

Baume & Mercier hosts a special Pop-up Exhibition in Kuwait

As part of the diverse celebrations taking place on the occasion of Baume & Mercier’s milestone 185th Anniversary, the elite watchmaker hosted a pop-up exhibition at Kuwait’s popular shopping destination, 360 Mall. Held in collaboration with Baume & Mercier’s, Morad Yussef Behbehani Group, the exhibition started on 15th of November and ends on 15th of December.

Versace unveils its new concept of its first flagship boutique in The Dubai Mall

Versace presents the new concept of its first worldwide flagship boutique in The Dubai Mall. The refreshed and revamped boutique is located in the Grand Atrium, ground floor of the largest Mall in the world. The new store concept has been designed by artistic director Donatella Versace, to capture the new spirit of Versace Jewellery.  The curved surface store is decorated with innovative architectural finishing.

Product Launch

Chopard opens its new boutique in Jordan

Chopard Co-Presidents Karl-Friedrich Scheufele and Caroline Scheufele announce the opening of the second Chopard boutique at the five-star Four Seasons Hotel in Amman Jordan last month November 2015 in collaboration with their partner Al Mahmoudia Jewelry & Luxury Company.

Arnold & Son presents HM Perpetual Moon

Arnold & Son unveils a new version the HM Perpetual Moon with a steel case and a blue guilloché dial. It houses the exclusive Arnold & Son mechanical hand-wound movement, the calibre A&S1512. the entire rhodium treated nickel-silver movement features hand finishing indicative of the finest Haute Horlogerie timepieces, including manually chamfered bridges with polished edges, Côtes de Genève rayonnantes and fine circular graining, circular grained wheels, and blued screws with polished and chamfered edges. The Strap is hand-stitched black or brown alligator leather. 

Audemars Piguet launches Royal Oak Perpetual Calendar in Yellow Gold

In 2016, Audemars Piguet brings the enduring lustre of yellow gold back to the forefront. Blue dial with “Grande Tapisserie” pattern, yellow gold applied hour-markers and Royal Oak hands with luminescent coating, blue inner bezel. Yellow gold case, glareproofed sapphire crystal and caseback. The bracelet is yellow gold with AP folding clasp.

Bremont introduces Jaguar MKIII

The MKIII has a slightly slimmer polished steel case; the black tachometer inspired dial design features the date window at the six o’clock position and carries the Jaguar heritage logo right above it.  The stainless steel case - which is fitted with a double-domed crystal to enhance the vintage appearance of the watch. The strap is calf skin leather with stainless steel pin buckle.

Chopard presents the L.U.C XP Urushi “Year of the monkey”

Chopard is dedicating a new exclusive series of its L.U.C XP to the Chinese zodiac and provides the theme for an exceptional Urushi lacquered dial. The case is in rose gold crown with L.U.C logo with Glareproofed sapphire crustal. The strap is hand-sewn alligator leather with Alsavel lining and rose gold pin buckle.

Richard Mille launches RM 07-02 Pink Lady Sapphire automatic watch

Richard Mille unveils the new RM 07-02 Pink Lady Sapphire: an automatic calibre protected by a pink sapphire case. The new in-house CRMA5 calibre is assembled around a skeletonized plate in microblasted gold set with diamonds. The same gold is used for the flange and the bridges, whose hand-chamfered and hand-drawn angles and edges capture even more light at the heart of the caliber. The central dial in onyx and diamonds, the crown in red gold and the strap in white alligator skin add the perfect finishing touches to this exceptional creation.

RJ-Romain Jerome reveals the Super Mario Bros.

RJ-Romain Jerome introduces the Super Mario Bros. collection, the Super Mario Bros. timepiece is presented in Moon Invader case, now in titanium grade 5 with a black PVD-coating. The lugs are fitted with safety screws and integrated ball-and-socket joints, in Teflon coating, for optimal wrist adjustment. And on the integrated case back, the Super Mario Bros. medallion cohabits with the grainy-textured stellar-patterned. The dial was built on a complex three layered plate with different finishes, which offers an overall 3D effect. The strap black rubber Grainy-textured interior of stellar-patterned with black PVD-coated steel folding clasp.

TUDOR launches a new version of the Fastrider Black Shield

TUDOR introduces a new version of the Fastrider Black Shield, its self-winding monobloc high-tech ceramic chronograph. In 2015, a new Ducati – the XDiavel has inspired TUDOR to create a new edition of its all-ceramic chronograph. With the impressively XDiavel motorbike calling for a relaxed, feet-forward riding position, Ducati enters the cruiser category. This generally comprises models with large displacement engines, often serving as the basis for customized versions in motorbike culture and exuding an unmistakable aura of great strength and inimitable style. The XDiavel is all that in a total black look.

Exhibitions & Events

Doha Jewellery and Watches exhibition to return for its 13th edition

Doha’s Jewellery and Watches Exhibition (DJWE) will return in 2016 between 23-27 February at the new Doha Exhibition and Convention Centre (DECC), organizers Qatar Tourism Authority have announced. For the first time since its inception, the DJWE will feature jewellery and watches workshops for enthusiasts and designers to learn from experts on creating their own pieces.

Celebrity News

Jessica Michibata wears Van Cleef & Arpels jewelry

Jessica Michibata attended the Tokyo Bond Girl Collection for '007: Spectre'. She wore Snowflake earrings in platinum and diamonds by Van Cleef & Arpels jewelry

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