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7 UAE businessmen rank in Forbes’ ‘world’s richest people of 2018’; P&G cuts digital ad spend by US$ 200 million-Between April and June of 2017 the consumer goods conglomerate cut digital spending by
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Market News
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7 UAE businessmen rank in Forbes’ ‘world’s richest people of 2018’
Forbes’ annual list of wealthiest individuals and families showed that out of the more than 2,200 billionaires around the world, seven originated from the UAE who now hold a combined net worth of $24 billion (Dh88 billion) as of March 2018.
The number of Emirati billionaires increased from five last year, although their latest aggregate net worth dropped from $27.4 billion in 2017. Now at number one is Abdullah Ahmad Al Ghurair, the founder of Mashreq bank, with $5.9 billion worth of assets. Among others, Majid Al Futtaim and family, whose assets include malls, hotels and a franchise for hypermarket Carrefour, has wealth estimated at $4.6 billion. Hussain Sajwani, chairman of luxury developer Damac Properties, stands third with $4.1 billion worth of assets, followed by Abdulla Al Futtaim ($3.3 billion), Saeed bin Butti Al Qebaisi ($2.7 billion), Saif Al Ghurair and family ($1.9 billion) and Khalifa bin Butti Al Muhairi ($1.5 billion).
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P&G cuts digital ad spend by US$ 200 million -Between April and June of 2017 the consumer goods conglomerate cut digital spending by US$ 100 million.
Procter and Gamble, the world's biggest advertiser, last week revealed it had cut digital advertising spend by US$ 200 million because of concerns about viewership data. It has piled pressure on digital media companies to be more transparent with their viewership data to better understand how many people see their ads. "Transparency shone a spotlight on reality and we learned valuable lessons which are driving profound change" Marc Pritchard, P&G chief brand officer said at the Association of National Advertisers' media conference in Orlando, Florida last week, Reuters reported. "With transparent view ability data, we learned that the average view time for an ad on mobile newsfeed is 1.7 seconds only- little more than a glance- pushing us to innovate. Pritchard revealed that new advertising consumption data had convinced it to reduce digital spending to several big media companies by 20 – 50 percent last year.
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Company News
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TAG Heuer becomes an Official Partner of Aston Martin
TAG Heuer has been appointed Official Partner for Aston Martin Racing, marking the watch brand big comeback to the World Endurance Championship. The partnership was announced at Aston Martin's stand at the International Geneva Motor Show in the presence of Aston Martin’s senior team, Andy Palmer, President and CEO, Marek Reichman, Vice President and Chief Creative Officer and Simon Sproule – Vice President and Chief Marketing Officer and Jean-Claude Biver, CEO of TAG Heuer and President of the LVMH Group Watches Division. |
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Mouawad boutique re-opens at the Dubai Mall.
The new, ultra-sleek Mouawad boutique, which was officially reopened at The Dubai Mall on the 20th of February, 2018. In addition to the welcoming atmosphere of sophistication and elegance synonymous with Mouawad, invitees were also in for a special surprise, as they witnessed first-hand the unveiling of the House’s latest masterpiece ? the 2017 Champagne Nights Fantasy Bra. |
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Elina Svitolina takes New York by storm and captures the Tie Break Tens trophy
The “Tie Break Tens” held it’s first-ever tournament on US soil at Madison Square Garden. This time around, it was the women’s turn, with eight world-class female players battling it out three days before International Women’s Day. Among them was Ukrainian legend-in-the-making Elina Svitolina, who beat the Chinese champion Shuai Zhang. During the prize ceremony, Elina Svitolina was wearing her blue CLASSICO JADE 37 mm steel watch, with a mother-of-pearl dial, diamond-set bezel, and a blue Alligator strap. |
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Product Launch
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Louis Moinet presents its two latest creations - Acasta and Dhofar
These two exceptional timepieces, exclusive to Louis Moinet - Acasta and the Dhofar cages weigh a mere 0.4 grammes each share the same movement, but nonetheless generate enough energy to power a rotating disc – made from blue-tinted titanium and featuring openwork arabesque patterns – placed atop of each of the pieces. Both rotate in opposite directions. The dial, their blue-tinted titanium upper bridges gleam in mid-air. The two openwork side bridges are crafted from blocks of solid gold, while the 5N rose gold case is fully hand-engraved. |
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IWC introduces the Pilot’s Watch Mark XVIII Edition ‘Laureus Sport for Good’
IWC Schaffhausen presents the Pilot’s Watch Mark XVIII Edition “Laureus Sport for Good Foundation” at the occasion of the 2018 Laureus World Sports Awards in Monaco. The timepiece with a case made of black ceramic, a blue dial and a special engraving on the case back is the 12th special edition launched by IWC as part of its commitment to support Laureus Sport for Good. |
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Ulysse Nardin Freak Vision goes Coral.
The two Freak Vision Coral Bay timepieces showcase an exciting new decorative bonding technique and the meticulous micropainting. The Freak Vision contains a host of horological game-changers: a super-light silicium balance wheel with nickel mass elements and stabilizing micro-blades and a super-thin new case design made even thinner by a box-domed crystal. Now, the aesthetic techniques showcased in the Coral Bay incarnations provide a perfect foil for this technological masterwork. |
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Van Cleef & Arpels launches "Frivole"
On March 20, Van Cleef & Arpels will celebrate the coming of spring with a bloom of graphic flowers. Nine brand new creations in yellow gold seem to quiver in the breeze, enriching the Frivole™ collection with their combination of miniature motifs and generous flowers, mirror polishing and dazzling paved surfaces. |
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Exhibitions & Events
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The 4th edition of Dubai Watch Week in 2019.
Dubai Watch Week confirms the 4th edition in November 2019. The 4th edition is expected to attract a growing number of visitors from the global watch community as it continues to gain international momentum and reinforce its position on the world’s horological map. Dubai Watch Week 2019 will host a number of engaging open access programmes, exhibitions and forums that are scheduled to take place throughout the four-day event. |
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Celebrity News
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Stars shine wearing BVLGARI to the Vanity Fair Oscar Party.
Actress Zendaya wore Heritage Nuvole earrings in platinum with pave diamonds, two platinum and diamond rings and three white gold and diamond rings. Model Lily Aldridge, wore Serpenti white and yellow gold earrings and bracelet with emeralds and pave diamonds and a gold Serpenti clutch. Actor Sebastian Stan sported a BVLGARI Octo watch with a rose gold case and diamonds surrounding the dial. Model Naomi Campbell wore a Heritage Sautoir necklace in gold with emeralds, rubies and diamonds, gold and diamond earrings. Actress Abbie Cornish wore a gold and diamond Heritage necklace and gold earrings with emeralds, rubies, sapphires and diamonds. Actress Maya Hawke lit up the red carpet in Divas' Dream High Jewelry earrings in white gold with round and pave diamonds. |
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Emily Blunt, Jane Fonda and Sally Hawkins sparkle in Chopard at the 2018 Academy Awards
British Actress Emily Blunt wears earrings from the “High Jewelry Collection” of pear-shaped aquamarines and diamonds set in titanium. American Actress Jane Fonda wears earrings from the "High Jewelry Collection" a pear-shaped diamond, diamond beads, and rose-cut diamonds set in 18k white gold. British Actress Sally Hawkins wears earrings a pear-shaped pink quartz, rubellites, pink rubellites, and diamonds set in 18k white gold from the “Temptations Collection”.
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Mary J. Blige wears Mouawad at 2018 Academy Awards
Singer, songwriter, and actress Mary J. Blige stole the limelight at the 90th Academy Awards, on March 4th, 2018, wearing the Mouawad Pears of Splendor diamond earrings, coupled with the Oriana diamond and sapphire bracelet and ring. |
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