AWJ Webletter Broadcast Issue No. 191

Market News

World Gold Council to further enhance gold trade market in Saudi Arabia

The visit of Aram Shishmanian, CEO of the World Gold Council (WGC), to the Kingdom of Saudi Arabia was highly successful. Meetings held with both government officials and some of the gold industry’s leading figures centered on the continuing prominence of gold within the Saudi economy and explored initiatives and partnerships to further enhance the Kingdom’s gold sector.

Duty Free revenue grew by 19 percent in Abu Dhabi Airport

First half retail turnover of Duty Free at Abu Dhabi International Airport grew by 19 percent to $75 million (Dh275.42 million), outperforming the airport's passenger growth of 11.7 per cent in the same period, a statement said. Furthermore, spend per passenger increased by 7.2% amounting to US $14.47.

Company News

Hublot as official timekeeper for the Copa del Rey in Palma de Majorca

Hublot is the official timekeeper for the 29th Copa del Rey (King's Cup) in Palma de Majorca. With the participation of yachts such as the TP52s Matador, Cristabella and Bribon, as well as Mini-Maxis Alegre, Container and Ran, along with Prince Felipe of Spain's own IRC 52 CAM, the Copa del Rey attracts many spectators each year to the event held on the stunning Balearic Island. The winners in each category were presented with a Hublot chronograph by King Juan Carlos of Spain.

A. Lange & Sohne presents Homage Collection to premiere in the Middle East

A. Lange & Sohne pays homage to Ferdinand A. Lange, the founder of the German watchmaking industry, by presenting the Trilogy of Timepieces. To showcase these limited edition masterpieces for the first time in the Middle East, A. Lange & Sohne is holding a unique Watchmaking Exhibition at the Dubai Mall Atrium from 8 - 18 September 2010.

Damiani posts consolidated net loss of EUR 4.5 million in Q1 FY 2010

Damiani Spa reported a consolidated net loss of EUR 4.5 million (USD 6M) for the first quarter of the fiscal 2010/2011 ending March 2011, compared with a net loss of EUR 3 million a year earlier. Revenue fell 21 percent to 26.4 million euros. The shares dropped 0.25 cent, or 0.3 percent, to 82.75 cents.

Product Launch

Montblanc introduces the limited edition of Patron of Art Elizabeth I

Montblanc has introduced the limited edition of Patron of Art Elizabeth I handwriting instrument. The brilliant lacquer of both writing instruments is modeled on the royal garments of Elizabeth I. With the Tudor rose and the cross of the British Crown, the royal insignia put their stamp on the cap, which is crowned with a green cabochon on the clip. This extraordinary edition is completed with the ivory-coloured Montblanc emblem on the cap head and the royal crown engraved on the 18 K gold nib.

Officine Panerai presents the Panerai application for iPhone

Officine Panerai has presented the Panerai application for iPhone. This application offers a wide range of images and information about the latest collection of Panerai watches and up-to-the-minute news and it will be regularly updated so customers and fans of the brand can keep up with what’s happening.

Ritmo Mundo launches Hercules Aluminum Timepiece

Ritmo Mundo has launched the newest model to compliment Ritmo’s existing Hercules family, the Hercules Aluminum timepiece. Combining all the best features of the classic Hercules timepiece with a Quartz movement, the 46mm Hercules Aluminum encompasses style and versatility. This timepiece is water resistant to 5 ATMs (165 feet).

Pomellato goes monochrome

Tabou, smoky quartz and scintillating white topaz embellish both the rings and the familiar egg-shaped pendant earrings. Tango, the thick chain linked choker, bracelet, band rings and hoop earrings now come fully set with white diamonds; a striking contrast to the original dark version with brown diamonds. Arabesque, black diamonds set on rose gold and brown diamonds on natural white gold.

Tiffany & Co. offers historic 1837 interlocking circles collection

Tiffany & Co. has offered the company’s well known ‘1837 Interlocking Circles’ collection. This collection presents chic 18k yellow gold, rose gold and sterling silver necklaces, pendants, cuff bracelets, bangles, earrings and rings. Also, this collection by the world renowned American style icon celebrates the famous year of its founding with jewels designed for boardroom elegance as well as evening glam.

Tabbah offers Copacabana Eye Nation bracelets

This collection embraces a worldview by weaving the bold flag colours of various countries into the leather straps of the Copacabana Eye bracelet’s signature style. As with Copacabana Eye, the Nation bracelets fasten with an eye clasp. Green, yellow, blue and red agate is set alongside onyx and sealed in a steel housing.

Exhibitions & Events

Christie’s to conduct series of Art Exhibitions & Events in the Middle East this Autumn

Christie's celebrates the ever-growing arts and cultural environment in the Middle East by staging a series of events in October and November 2010: Doha - A Journey Through Modern Art, Public Art Exhibition on 4 - 5 October; Dubai - Exhibition and Sale Series includes Important Collections on 24 - 27 October; Abu Dhabi - Off the Walls – Collecting Middle Eastern Art on 3 - 28 November; Jeddah - Education Event with Canvas on 20 and 21 October.

International Jewellery London 2010

International Jewellery London will be held on 5 to 8 September 2010 at Earls Court 2, London. This is the UK’s only dedicated trade jewellery event; showcasing hand selected leading British and international designers with inspiring contemporary and classic collections.

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