Mouawad buys 51.38 carat ‘Dynasty’ Diamond; Abu Dhabi GDP up 9% in Q1 2018; Dubai airport posts 11.7% traffic growth

Market News

Mouawad buys 51.38 carat ‘Dynasty’ Diamond

Mouawad Group has acquired the 51.38-carat “Dynasty” diamond, the largest of the five stones Alrosa cut from a 179-carat rough diamond. The price paid for the diamond, a round brilliant the GIA graded as D color and VVS1 clarity with a triple excellent cut, was not disclosed, though Alrosa did say that the sale of all five diamonds totaled $10 million. It is the highest quality diamond of its size ever cut and polished by Alrosa and is also now the most expensive stone ever sold by the diamond mining company.

Abu Dhabi GDP up 9% in Q1 2018

The gross domestic product (GDP) of the emirate of Abu Dhabi grew to Dh223.6 billion in the first quarter of 2018, up 9 per cent to from Dh205.1 billion in the first quarter of 2017. In a statement released by Statistics Centre–Abu Dhabi (SCAD) on Saturday, Abu Dhabi’s oil GDP grew by 18 per cent to Dh86.6 billion during the first quarter of 2018, up from 73.4 in the first quarter of 2017, constituting 38.8 per cent of the emirate’s first quarter GDP. Non-oil GDP increased from Dh131.7 billion in the first quarter of 2017 to Dh136.9 billion in the first quarter of 2018, making up 61.2 per cent of the emirate’s GDP at current prices for the first quarter of 2018, compared with 64.2 per cent in the same period last year.

Dubai airport posts 11.7% traffic growth

Dubai International Airport, the world's busiest by international travel, saw passenger traffic surged 11.7 per cent in June following a consecutive two-month decline because of this year's Ramadan. The hub handled 6.8 million passengers in June versus 6.08 million in the same month a year ago, its operator Dubai Airports said in a statement. The steep recovery was largely to the impact of the Islamic holy month of Ramadan on traffic last year as regional traffic slows down. Flight movements in June totaled 32,805 up 6.4 per cent compared to 30,841 recorded during June 2017.

Company News

Ahmed Seddiqi & Sons welcomes Bell & Ross

Ahmed Seddiqi & Sons welcomed Bell & Ross to its portfolio of luxury timepieces. Available from 08 August, visitors to Ahmed Seddiqi & Sons boutiques in Mall of the Emirates and The Dubai Mall will be privy to viewing and purchasing Bell & Ross’s most desired watches, including the brand’s latest Baselworld novelties. Known for their precision, functionality, legibility and water-resistance, Bell & Ross has become a benchmark in the world of professional aviation watchmaking, often drawing on the history of aviation and the military specifications accompanying it.

IWC appoints Regional Brand Director

IWC Schaffhausen has announced the appointment of Mehdi Rajan as Regional Brand Director for the Middle East, India and Africa. Mehdi Rajan, who joined IWC Schaffhausen in 2013, has been with the Richemont Group for seven years and is an integral member of the team, having already helped take the brand to new heights.

Product Launch

Audemars Piguet introduces Royal Oak Offshore Selfwinding Chronograph Camouflage

The Royal Oak Selfwinding Chronograph Camouflage is a daring timepiece and a new contrasting colour interpretation of an iconic gents’ model. The 44mm stainless steel watch features a green ceramic bezel, a green ceramic screw-locked crown and pushpieces, as well as a camouflage strap. It has a beige dial with the “Mega Tapisserie” pattern, brown counters, a brown external zone, white gold applied hour-markers and Royal Oak hands, as well as a beige inner bezel. The watch comes with an additional khaki rubber strap.

Montblanc unveils ‘Writers Edition Homage to Homer’

On a separate note, Montblanc aim to inspire customers to pen their own epic poems with the introduction of its Writers Edition Homage to Homer series. Montblanc selected the classic Greek poet for this year’s entry in the Writers Editions pens line. It’s a big entry; the author of the “Odyssey” and the “Iliad” is considered the grandfather of Western literature. There are four pens in the Homer series. The first three pens in the collection are a rollerball ($885), fountain ($1,100), or ballpoint pen ($830). These beautiful writing instruments feature a sleek black body and a tapered silhouette reminiscent of the Trojan horse. The black caps are accented with Achilles’ iconic spear.

Officine Panerai presents the new Luminor California 8 Days DLC – 44mm

A new Luminor with a remarkable personality takes several of the most characteristic Panerai ingredients – the California dial, the titanium case coated in DLC and the hand-wound mechanical movement with a power reserve of eight days – and combines them in an original way with a completely new cuff strap of supple natural leather. The watch’s Luminor case (44 mm in diameter) is made of titanium coated with DLC (Diamond-Like Carbon), an even carbon-based layer which gives the metal a uniform appearance, with a matt anthracite finish and greater hardness, resistant to scratches and corrosion. The bridge lever device which protects the winding crown is also coated in DLC and it contributes to the watch’s high degree of water-resistance: 30 bar (a depth of about 300 metres).

EBEL launches Discovery 4 Seasons

The EBEL Discovery FOUR SEASONS edition delivers an array of splendid and dazzling tones to grace every season of the year. To everything there is a season, and every season has its own distinct mood and colours – filled with beauty, charm, and emotion. In 2018, women for all seasons will be offered a unique opportunity to celebrate these vibrant colours through the 33 mm EBEL DISCOVERY LADY 4 SEASONS EDITION. In these delightfully feminine models, EBEL subtly interprets new beginnings with spring cherry blossom, summer breezes in fresh green, hazy autumn days through a glowing brown shade and the chill of winter in a pale pink sky.

Scuderia Ferrari presents Aspire Collection

Scuderia Ferrari proving simple design is never boring is the ASPIRE collection from Ferrari. The 42mm case is crafted from all stainless steel construction, and features a black sunray dial topped with a mineral crystal. Ferrari branding give these watches a speedometer inspired design that transitions well from day to night looks.

Montfort launches the Julius

As with the other members of Montfort’s stable, the Julius features a 3D printed dial. Like the Montfort Strata models, it offers hours, minutes, seconds and date. But you will note that the date function is not a traditional date window. The date ring itself is completely exposed, and there is no date hand. The Julius is limited to 33 pieces and is available as a pre-order item with a shipping date anticipated in September. The case measures 44 mm in diameter and is made with hardened SUPER STAINLESS STEEL. The movement is the Sellita SW200 Automatic. Water resistant to 100 meters / 330 feet.

Exhibitions & Events

Second World Emerald Symposium Announces High-Stakes Participants

Devoted entirely to the world of emeralds, this Second World Emerald Symposium (2WES) will be held 12-14 October 2018, at the new Grand Hyatt Hotel in Bogotá. The organizers have confirmed the attendance of delegates from 25 nations and the participation of eight emerald-producing countries: Afghanistan, Brazil, Colombia, Ethiopia, Madagascar, Pakistan, Russia and Zambia. Among the world-renowned international speakers are representatives from the Organisation for Economic Co-operation and Development (OECD), Responsible Jewellery Council (RJC), Dubai Multi-Commodities Center (DMCC) as well as those from such global luxury brands as Van Cleef & Arpels and more.

GJEPC kick starts its 35th edition of India International Jewellery Show (IIJS)

The prestigious 35th edition of the India International Jewellery Show, organised by the Gems & Jewellery Export Promotion Council, was held between 9th August – 13th August, 2018. Shri Suresh Prabhu, Union Minister for Commerce & Industry & Civil Aviation through a tele-video address, along with Mr Gaetano Cavalieri, CIBJO, Mr. Pramod Agrawal (Chairman, GJEPC), Mr. Colin Shah Vice Chairman, GJEPC), Shri Shailesh Sangani, (Convener, National Exhibitions GJEPC) Mr. Sabyasachi Ray (ED, GJEPC), inaugurated the IIJS 2018. It was set to showcase India’s leadership role in the gem and jewellery sector ensuring around 35000 domestic and international footfalls at Bombay Exhibition Centre, Goregaon.

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