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UAE economy to grow by 4% in 2024; Breitling announces partnership with Climate Impulse; Dior announces Charlize Theron as new face of Skincare and Jewelry
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Market News
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UAE economy to grow by 4% in 2024
The International Monetary Fund (IMF) said the UAE’s gross domestic product (GDP) will expand by 4 per cent in 2024, higher than earlier estimates, as the Gulf state is experiencing robust growth. “Economic growth in the UAE is broad-based, led by robust activity in the tourism, construction, manufacturing, and financial services sectors,” the IMF said in a statement. The IMF said the strong foreign demand for real estate, increased bilateral and multilateral ties and the country’s safe haven status continue to drive rapid growth in housing prices and an increase in rents while adding to ample domestic liquidity. Overall economic growth would likely be further supported by higher hydrocarbon GDP growth this year, in part driven by higher crude oil production from the UAE’s OPEC+ quota increase, while average inflation is expected to remain contained close to 2 per cent. |
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Company News
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Breitling announces partnership with Climate Impulse
Breitling, the Swiss luxury watchmaker known for its pioneering spirit in aviation, announces its partnership with Climate Impulse, the latest endeavor of Swiss explorer and climate advocate Bertrand Piccard. This collaboration marks Breitling’s continued support for Piccard, a long-time brand ambassador, as he undertakes the groundbreaking Climate Impulse project: the first nonstop around-the-world, zero-emission flight, with a green hydrogen-powered airplane, estimated to last nine days and conceived to inspire climate action at large. The Climate Impulse project aims to showcase the potential of hydrogen-powered flights as a sustainable alternative for future aviation and to revolutionize the heavy mobility sector. |
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Dior announces Charlize Theron as new face of Skincare and Jewelry
Iconic, stunning, radiant, and mesmerizing Charlize Theron is an artist whose talent and beauty bring every superlative to mind. Since 2004, she has lent her unique aura to Dior and today, the star enters her new role as the face of skincare as well as jewelry - two essential facets that are pinnacles of beauty and luxury at the House of Dior. As an artist and a committed activist/philanthropist, Charlize Theron will strengthen her collaboration with the House on matters of social responsibility including their combined attention on women empowerment.
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Product Launch
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Discover the GEOPOLIS OPAL by Louis Moinet
The GEOPOLIS OPAL radiates unique artistry thanks to the opal, with its captivating range of colours. As the light glides over the twelve jewels, it flashes an ever-changing range of hues, transforming this timepiece into a veritable work of animated visual art. The design of the GEOPOLIS OPAL has been rigorously thought out to celebrate the splendour of the opal. Ten opals delicately encrusted on small bases stand out against the intense black of the onyx dial to form a spellbinding rainbow. A larger opal disc takes pride of place in the centre. The twelfth gem nestles at the back of the tourbillon cage, under the beating heart of the regulating mechanism. |
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The BOVET Recital 26 Chapter Two Golden Dragon
With the Recital 26 Chapter Two Dragon, BOVET’s artisans have worked their hardest to realize this artistic sculpture within an established masterpiece of high horology. For BOVET, integrating the solid 18K gold dragon into the award-winning Recital 26 Chapter Two was a challenge –while the Writing Desk case provides plenty of volume, the placement of the dragon was limited to the available space between the complications -- the Hour and Minute domed Dial, the World Time Hemispheric Dial with indexable city indicator, the Mother-of-Pearl Moon Phase, and, of course, the patented BOVET flying tourbillon. The result is a work of timepiece art housing a true hand-engraved sculpture. |
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H. Moser & Cie.: The return of the Dragon
The Streamliner Centre Seconds Matrix Green, known as the "Green Dragon" by collectors, is making its much anticipated return, accompanied by a new reference with a striking "Purple Haze" coloured dial. Released in 2020, this model won plaudits far and wide, quickly becoming an iconic piece. Despite huge demand, H. Moser & Cie. decided to stop taking orders, using the break to further develop the aesthetic and technical features of the timepiece, which now include the transparent lacquer logo and the new self-winding calibre HMC 201. An update sure to transcend expectations and galvanize collectors.
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Franck Muller releases the new Vanguard Rainbow Baguette
Step into a world of unparalleled elegance with the new Vanguard™ Revolution 3 Skeleton Rainbow. A masterpiece that offers an exceptional technical spectacle but also captivates with its vibrant array of colors, reminiscent of a rainbow, as well as emotions only to be found at Franck Muller. Featuring a breathtaking skeleton movement, this timepiece stylishly reveals openworked bridges and multi-colored indicators that allow to observe one of the most beautiful mechanisms in the entire Horlogerie. Encased within the iconic Vanguard™ case, this timepiece boasts a striking three-axis tourbillon, magnified under a sapphire crystal dome. |
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BYRNE presents the GYRO DIAL MECA Watch
BYRNE Watch unveils the GYRO DIAL MECA, the inaugural model of a new permanent collection primarily destined for collectors and connoisseurs. With its sleek, sport-chic look, and the advanced engineering it packs in a smaller, slimmer 38mm diameter, the GYRO DIAL MECA watch targets a new segment of discerning customers eager to own an exceptional timepiece. As the third pillar of the BYRNE brand, it offers an innovative, gender-neutral take on its distinctive interpretation of timekeeping. The GYRO DIAL MECA's design epitomizes the brand’s independent spirit, taking it a step further in pursuit of sophistication and elegance, while maintaining its industrial vibe. |
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Montegrappa unveils Frankenstein L.E.
Over a three-year journey, filled with creativity and innovation that brings a piece of cinematic history to life, Montegrappa has captured the essence of the iconic Universal Monsters archive in a one-of-a-kind pen. Reimagined for writers, the Frankenstein L.E. is not just a pen; it's a masterpiece crafted in Italy with a nod to the mad scientist's laboratory. Frankenstein L.E. captures Gothic elegance, while detailed rivets and lightning charges evoke the essence of the Frankenstein tale. Inspired by the timeless allure of Universal Pictures' 1931 classic, Frankenstein, this limited-edition masterpiece marries the mystique of cinematic history with the artisanal perfection of Italian craftsmanship. From the spring-loaded capacitor clip to the captivating gyro fidget mechanism, every element is designed to thrill and inspire.
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Exhibitions & Events
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Haute Jewels announces brand new Hong Kong exhibition
Haute Jewels will be coming to Hong Kong this September. After the success of Haute Jewels Geneva, the team behind the luxury exhibition are taking the concept international. The first event in Hong Kong will take place from the 18th – 22nd September 2024 at the lavish Grand Hyatt Hotel. The brands participating will include some of the finest jewellers from all corners of the world, bringing their magnificent creations to an exclusive audience in Hong Kong. As with previous Haute Jewels events the emphasis will be on creating a high-end, intimate environment to conduct business. The event will be open to jewellery and watch buyers from the trade as well as VIP private clients. |
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Plain Gold Jewellery Exports Shine Bright, Grew 27.45% in April: GJEPC
The export of plain gold jewellery continues to soar, marking a significant 27.45% increase, reaching USD 342.27 million in April 2024, compared to USD 268.56 million in the same month the previous year. The overall exports of gems and jewellery declined 11.37% to USD 2074.85 million in April 2024, as compared to the same period the previous year. However, the total gross export of Gold Jewellery (both plain and studded) saw a promising 11.03% growth, reaching USD 718.34 million in April 2024 compared to USD 646.97 million in the same period the previous year. |
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