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UAE economy to grow by 3% in 2023; Vacheron Constantin unveils its new boutique in Salhiya Complex, Kuwait; Zenith opens flagship boutique in Dubai’s Mall of the Emirates
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Market News
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UAE economy to grow by 3% in 2023
According to S&P Global estimates, the UAE’s gross domestic product (GDP) is projected to grow by 3 per cent in 2023, rising to 4 per cent next year. Growth is driven by the non-oil sector, which is expected to benefit from strong growth in tourism, government initiatives, and technological advancements, analysts at the credit rating agency said in a statement to state news agency, WAM. Over the years, the UAE has implemented several comprehensive economic and social initiatives that are designed to set the stage for sustained and long-term growth, said S&P Global. Trevor Cullinan, sovereign ratings analyst at S&P Global said key contributors to the country’s economic growth, include oil and gas, wholesale trade, industry, real estate, construction, financial services, and tourism. |
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Company News
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Vacheron Constantin unveils its new boutique in Salhiya Complex, Kuwait
Vacheron Constantin has recently announced the opening of its new boutique in Salhiya Complex, one of the top luxury shopping destinations in Kuwait. The new boutique showcased the exceptional selection of novelties launched at Watches & Wonders 2023 from September 19th till September 28th, these exquisite creations were on display, provided a captivating journey into the realm of horological innovation and elegance. With a significant expansion, the new boutique will permanently house the complete Vacheron Constantin timepiece collections for men and women from simple to high complications such as the Traditionnelle, Overseas, Patrimony and Egerie. |
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Zenith opens flagship boutique in Dubai’s Mall of the Emirates, its third in the region
After inaugurating the Middle-East’s first ZENITH boutiques in the United Arab Emirates’ prime shopping destination – the Dubai Mall – as well as in the Saudi capital Riyadh, ZENITH is delighted to announce the opening of its second flagship boutique in Dubai’s Mall of the Emirates. Offering a personalized service immersed in the Manufacture’s unique world, the Mall of the Emirates boutique looks forward to welcoming passionate collectors and newcomers to the brand. The ZENITH boutique takes on a vertical design, with a blue sky streaked on the ceiling mirrored by the blue carpet leading the way from the entrance to the mural visual of the Pilot collection. Like all ZENITH boutiques, it features a “Story Bar” that allows visitors to sit back, relax and enjoy a refreshment while diving deeper into the ZENITH universe. |
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Jacob & Co. designs and co-signs the Billionaire Card
Jacob & Co. joined forces with longstanding partner Billionaire and Insignia to design and launch a rare breed of Visa credit card. The Billionaire Card is tailored to fit the needs of the UNHWI individuals both brands cater to. As a sign of actual rarity, membership is by invitation only and deliberately capped at a maximum of 150 clients to preserve the exclusivity and premium services offered. Designed by Jacob & Co., developped by Insigna, the physical card is a luxurious piece that belongs in the jewelry world. Meticulously crafted from metal and lavishly gold-plated for a touch of opulence, it offers a unique appearance: like many of Jacob & Co.'s movements, it is openworked, featuring a graphic, radiant pattern. The card presents a jewelry variant, adorned with a constellation of pavé diamonds. |
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Oris Watches joins forces with Coffee Communications
Coffee Communications, the Dubai-based strategic brand consultancy and communications agency, announced the addition of Swiss watchmaker, Oris to its portfolio of luxury clients. Coffee Communications will be leveraging its expertise in luxury brand strategies to further enhance Oris's presence and reach in the region. Since 1904 Oris has been one of a small handful of Swiss watch brands that makes only mechanical watches. As an independent company, Oris is constantly striving to make better watches that offer beautiful, innovative functions and advanced performance levels. The in-house developed Calibre 400 Series of Swiss Made automatics promises a five-day power reserve, anti-magnetism, and a 10-year warranty and 10-year recommended service intervals. |
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Breitling and Surf House Dubai Partner for World Cleanup Day
Breitling Middle East took part in a community beach clean-up with longstanding partner Surf House Dubai for the third time this year. The beach clean- up was organized in line with World Cleanup Day, a global program that brings people together to cleanup and combat waste problems. World Cleanup Day is celebrated annually on the third Saturday in September. In line with Breitling’s sustainability mission, the beach-cleanup was held to protect the last natural surfing beach in Dubai and is an ongoing part of the successful Save the Butts campaign led by environmental organization Goumbook. This year with Breitling’s support, the campaign has resulted in the participation of over 200 volunteers and the collection of 53,865 cigarette butts, amounting to 19.34kg of waste that has since then been recycled. |
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Eberhard & Co. Official Timekeeper of the 63rd Genoa Boat Show
Eberhard & Co. is renewing its participation as Official Timekeeper of the Genoa Boat Show, one of the most important events in the sector on an international level: a reference point for the presentation of novelties that brings together the industry and nautical enthusiasts. With its 200,000 square metres between land and water, the show is an exceptional context that Eberhard & Co. has chosen to tell the public about its deep bond with the world of the sea and the ventures and people that are part of it. In this occasion, Eberhard & Co. presented its first project into the sportswear sector: Scafojacket, a capsule collection of technical jackets created in partnership with the historic brand Murphy & Nye. |
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Product Launch
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Presenting the Wings Rising by Garrard
Garrard has announced the launch of Wings Rising, a fresh chapter in the Wings story that celebrates 20 years of this iconic collection. Ushering in a new era for Wings, Wings Rising is a major evolution for this signature motif, which made its debut in 2003. Different from any Wings designs that have come before, Wings Rising creates a brand new identity for Garrard’s dynamic Wings motif that is bold and free. Other statement Wings Rising jewels are set with angular calibré cut diamonds. The slider pendant and earrings are crafted to deliver subtle articulation, while the ring swoops across two fingers, echoing the original Wings Classic design. The diamond-set slider mechanism on the chain of the pendants allows the wearer to adjust the length. |
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Introducing the Space Timer Black Hole by Chronoswiss
Handcrafted in Luzern, this masterpiece features a mesmerizing 44mm DLC-coated case that serves as a portal to another universe. The dial captures the ethereal beauty of a cosmic black hole, achieved through a unique combination of hand-guilloché and nano-printing techniques. But that's not all. The titanium moon phase adds a touch of celestial elegance, making this watch a true cosmic spectacle. Limited to just 50 units, the Space Timer Black Hole is a one-of-a-kind journey into the depths of the cosmos. Get ready to venture into the enigmatic realms of time and space, and don't miss out on this cosmic marvel. |
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Introducing the new EBEL 1911 in Beige
The new EBEL 1911 in Beige mother-of-pearl is vibrant, free-spirited and timeless. A synergy that releases your “joie de vivre”. The iconic stainless steel and 18K yellow gold case of the EBEL 1911 is enhanced with the rich luster of the champagne-beige mother of pearl dial and ten diamond indexes. The 18K yellow gold bezel is set with 60 brilliant cut diamonds elevating its magnetic appeal. The round date window is discretely located at 6 o’clock, and the crystal glass is treated with an anti-reflective coating and secured with EBEL’s iconic five screws. The EBEL 1911 Beige is available in two case sizes, 30 and 34mm Fresh and vivacious, life is a celebration with this sparkling timepiece. |
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Exhibitions & Events
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Indian High Fashion & Jewellery Shine at GJEPC's 'Jewels UnBounded' in Hong Kong
The Gem and Jewellery Export Promotion Council of India (GJEPC), the apex trade organization dedicated to promoting Indian gem and jewellery exports worldwide, hosted a historic event - "Jewels UnBounded - a one-of-a-kind showcase in Hong Kong on the evening of September 21, 2023. The event showcased India's rich and diverse range of gemstones, jewellery, and textiles to the discerning buyers from across Asia, highlighting the unique strengths in product engineering, design innovation, and manufacturing expertise within both the gems and jewellery and textiles sectors. Supported by Consulate General of India, Hong Kong, and Department of Commerce, Government of India, this scintillating event, Jewels Unbounded, was timed concurrently with the September Hong Kong Jewellery & Gem Fair, a significant industry gathering that attracts buyers from the entire spectrum of Asia, all seeking to acquire the finest gems and jewellery offerings. |
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G7 Delegation Concludes India Diamond Industry Visit
The Gem & Jewellery Export Promotion Council (GJEPC) welcomed a high-level G7 delegation that came to India from 27th to 29th September 2023. The delegation comprised members from the U.S. State Department, U.S. Department of Treasury, European Commission, Prime Minister’s office of Belgium, Foreign Trade Department of Belgium, and the Japan Embassy in India. The delegation visited Mumbai and Surat to learn more about the Indian gem and jewellery industry to explore ways of helping it meet G7 sanctions requirements with minimal or no disruption to the sector. The G7 delegation met and Indian trade members, represented by GJEPC and the Bharat Diamond Bourse (BDB). The G7 delegation expressed their intent to gain insights into the industry’s ground realities and identify potential approaches to sanctions compliance and implementation.
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Celebrity News
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Julia Roberts attends the Milan Fashion Week wearing jewelry by Chopard
On September 22, 2023, Julia Roberts attended the Gucci Show during Milan Fashion Week wearing jewelry by Chopard. Julia Roberts sparkled in earrings featuring 17.74 carats of fancy-cut diamonds and 5.53 carats of diamonds set in 18-karat white gold. from the Haute Joaillerie collection and a ring featuring 4.51 carats of round-shaped diamonds set in 18-karat white gold from the L’Heure Du Diamant collection.
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