Fifteen months (July 2007 to September 2008) after temporarily shutting down for extensive restoration and rehabilitation, the historic chateau Petit Trianon, Palace of Queen Marie-Antoinette located on the National Estate of Versailles, will be opened to the public on 2 October 2008. The Petit Trianon has undergone comprehensive and radical restitution thanks largely to the magnanimous grant of Euro 5.0 million made available for this very significant project by leading corporate donor Montres Breguet under the auspices of its CEO and Breguet aficionado, Nicolas G. Hayek.

A Press Conference was recently held to announce the grand re-opening of the restored Petit Trianon. Present at the top table were Nicolas G. Hayek, Jean-Jacques Aillagon, President of the State Corporation of the Versailles Museum & National Estate and Arlette-Elsa Emch, a Board Member of the Swatch Group and President, Swatch Group (Japan). The Press Conference was followed by a lively Q & A session and then the entire especially-invited press delegation, including Arabian Watches & Jewellery (AWJ) Magazine, was taken on an extensive tour of the multi-million Euro refurbished Petit Trianon.

Later that evening a grand gala dinner was hosted to commemorate the re-creation of a piece of important French history. The lavish dinner was held in the ramparts of the opulent Petit Trianon amid a stunning ambience and sumptuous food. (The full report can be read in the October—November 2008 Edition of AWJ Magazine, published by MPParabia.)

According to a recent report from McKinsey & Co., as along as the price of oil stands above USD $ 50.0 a barrel, the GCC countries will continue to see an inflow of up to USD $ 9.0 trillion of petrodollars over the next decade. McKinsey said that more than USD $ 1.1 trillion of GCC wealth had been reinvested in the region between 1993 and 2007. Cumulative investment between 2007 and 2020 is projected to exceed USD $ 3.0 trillion, almost three times what was invested in the last 14 years. According to McKinsey, the current value of all planned and ongoing real estate construction projects in the GCC is USD $ 1.3 trillion, equivalent to more than 150.0 % of the region’s 2007 GDP. The 23 major planned real estate development projects alone are worth USD $ 300.0 billion.

In the real estate sector, an estimated 16.35 million sq. m. of gross leasable area (GLA) is expected to be added in the region from 2000 to 2010. Given that the total GLA was 2.46 million sq. m. in 2000, the expected expansion represents an annual increase of more than 20.0 % annually over the same period.

The GCC is home to 40.0 % of proven global oil reserves and 23.0 % of proven global natural gas reserves and it is no surprise that hydrocarbons are the primary driver of economic growth in the region. In 2007, hydrocarbon exports totaled USD $ 380.0 billion up from USD $ 204.0 billion in 2005, equivalent to almost half of the GCC’s 2007 GDP.

The Girard-Perregaux ww.tc Chronograph crafted in DLC coated titanium, created exclusively for Sincere Fine Watches, was sold at the highest bid at Swiss Francs CHF 145,000 during a recent auction in Singapore during the Sincere-sponsored MILK (Mainly I Love Kids) Charity Gala Dinner.

Part of a 28-watches limited edition, this timepiece has been personalized for the event into a unique piece with a special coloured crystal case back bearing the caption ‘night racer’ and the signature of Gino Macaluso, President, Girard-Perregaux.

At a press conference held in Muscat, the capital of the Sultanate of Oman, Rebecca Irvin, Director, Rolex Awards for Enterprise (RAE), has encouraged Omani institutions, organizations and individuals involved in the environment, cultural, science, exploration and heritage sectors to participate in the 32-year philanthropic programme.

“Oman is home to many outstanding endeavours in culture and heritage preservation and environmental conservation and is certainly a model in the Gulf. I encourage more active participation from Oman in future editions of the Rolex Awards,” appealed Irvin. The Awards typically receive between 1,500 and 2,000 entries from more than 100 countries per series. Following a decision to hold the Rolex Awards global prize-giving ceremony in the Middle East for the first time in Dubai on 18 November 2008, the RAE campaign drew 138 applications from the Gulf, Levant and North Africa, a 294.0 % increase in the region over the previous years.

Also present in Oman as part of the RAE team was Rory Wilson, professor and zoologist and a previous Rolex Awards winner.

Dubai Ventures Group, the subsidiary of Dubai Group, an investment arm of Dubai Holdings, has recently revealed that it would pay USD $ 35.0 million to buy an 18.0 % stake in a major Australian gold producer to help it boost production at a mine in Queensland. The investment would help Citigold expand production at the Charters Towers gold mine in Northeastern Australia and increase the company’s yearly output to 250,000 ounces by 2011.

Citigold, Australia’s 13^th largest gold producer estimates the mine may contain up to 10.0 million ounces of gold. The agreement was reached between Abdul Hakeem Kamkar, CEO, Dubai Ventures Group and Mark Joseph Lynch, Managing Director, Citigold.

Diamonds are proving to be an attractive medium to convey greetings in the run-up to Eid Al Fitr to mark the close of the Islamic Holy Month of Ramadan. Using the laser inscription service from International Diamond Laboratories (IDL), it is now possible to inscribe Eid greetings on diamonds. “Greeting family and friends during Eid and giving them memorable gifts is a tradition that is very much cherished to this day. With our laser inscription services, it is now possible to give it a modern twist—Eid greetings said with diamonds,” said Peter Meeus, CEO, IDL, a Dubai Government initiative to provide diamond certification.

Swiss luxury watch manufacturer Jaeger-LeCoultre will maintain an even higher profile on the 4^th anniversary of its partnership with the ‘Mostra’ Film Festival in Venice. The brand’s involvement at the festivities is extensive and includes the famous Golden Lion prize-giving ceremony to the celebration of the film-making heritage as well as adorning the stars on hand for the screening of their films.

At the soiree held on San Giorgio Island, Jerome Lambert, CEO, Jaeger-LeCoultre welcomed Diane Kruger, Ambassador of the Brand and several other screen and other celebrities. At this year’s Venice Film Festival, Jaeger-LeCoultre presented another exceptional creation—the Parure Extraordinaire Le Lierre, a jewellery set composed of a cuff-watch, a necklace, a pair of earrings and a ring. The winners of this year’s Venice Film Festival were also presented with a Reverso, a unique watch personalized with an engraving of the famous Golden Lion.

Stars Ashley Jensen, Audra McDonald, Phylicia Rashad, Jennifer Love Hewitt, Emilie de Raven, Jamie Lynn Sigler, Amanda Righetti, Katrina Bowden, Jennifer Carpenter, Valerie Cruz and Mary Steenburgen sparkled in H. Stern at this year’s 60^th Primetime Emmy Awards in Los Angeles. They collectively wore an assortment of H. Stern bangles, bracelets, earrings, rings and other accessories.

The Sea Hawk Pro 1000 m from Girard-Perregaux is distinguished bi its performance, cutting-edge technology and expertise to attain a water resistance to a depth of 1000 metres as a genuine diving instrument. This model was subjected to a series of tests to demonstrate its capacity to withstand the pressures exerted at 1000 metres where the watch was subjected to a force in excess of 1,500 kilogrammes.

The technical sophistication for this 44 mm steel case watch is underlined by an ergonomic design combining aesthetics, comfort and efficiency. For instant readability, the dial indices and hands are luminescent. The watch is now available at exclusive outlets throughout the Middle East.

Longines has introduced the Admiral series evoking the prestigious dimension of sport in which aesthetics, precision and beauty of action predominate. This line has a 24-hour ‘Second Time Zone’ watches with tachymeters. They are fitted with an automatic movement, a 24-hour scale on the bezel and a hand for the supplementary hours. Beneath the anti-reflective coated sapphire glass appears a black, silver, meteor grey or chocolate-coloured dial with applied indices treated with superluminova. This series is water-resistant to 100 metres. The different models are available with steel bracelet or genuine alligator strap fitted with triple security folding clasp.

Salvatore Ferragamo, one of the top fashion brands in the world, will hold a huge auction for an elite gathering in Dubai, UAE on 6 October 2008. On the following day, 7 October 2008, the brand will announce the results of the auction at a brunch gathering for very select media (including Arabian Watches & Jewellery Magazine). Salvatore Ferragamo will also use this opportunity to launch their newest collection, ‘Time Pieces’ in the presence of Timex Group CEO, Paolo Marai; Michele Norsa, CEO, Ferragamo, Switzerland and other officials from the GCC region.

Pearl luxury brand Schoeffel has unveiled a marvelous one-of-a-kind necklace of the couture collection. The necklace comprises 18 shimmering South Sea cultured pearls, each of them with an excellent lustre and of the finest quality, are embedded with 640 sparkling diamonds and more than 4000 rose and pink sapphires. The design of this extraordinary 18-carat gold pearl necklace is delicate and precious at he same time, inspired by the beautiful corals of the sea.

The 42^nd Edition of the Bangkok Gems & Jewellery Fair (BGJF) saw the launch of the innovative Design Pavilion, a strategically located gallery at the entrance of the Exhibition venue, which provided fresh expression to the world of jewellery design. The Pavilion spotlighted BGJF as a platform for showcasing contemporary masterpieces, avant-garde designs, unique creations, award-winning collections and over 100 pieces of objets d’art from over 80 celebrated Thai and international jewellery designers. The launch of the Design Pavilion adds credence to BGJF’s important and significant role as Asia’s pivot and leading hub for the gems and jewellery trade.

The World Gem Show will debut in the South-Eastern Thai province of Chanthaburi (City of Moon), bordering Cambodia and the Gulf of Thailand, from 10 to 14 December 2008. The venue of the 5-day Fair will be the Chanthaburi Gem & Jewellery Exhibition Hall located at the KP Grand Hotel. This International Trade Show has generated tremendous interest in the global trade and is sponsored by the Chanthaburi Gem & Jewellery Traders Association (CGJTA) led by its President, Businessman & Entrepreneur Khun Adisak Thawornviriyanan.

“The City of Chanthaburi, famous as the City of Gems and the World Gem Show offers indispensable opportunities to traders, manufacturers and retailers to meet gem suppliers directly at this landmark show,” enthused Khun Adisak, in comments made to the visiting correspondent of Arabian Watches & Jewellery (AWJ) Magazine whilst in Bangkok recently. “We are working hard to ensure the success of this show and to make it a must-visit event in the trade exhibition calendar,” he added.

Blessed with a mild climate, Chanthaburi, the region known as the ‘Orchard of Thailand’, is important for the Thai jewellery trade as world source of gemstones for the global market. Chanthaburi’s surrounding region is dotted with mines yielding rubies, sapphires and other precious stones.

Following its rapid and sustained growth since its launch in 2003, Geneva-based luxury watchmaker Montres DeWitt SA is reinforcing its executive management, with founder Jerome DeWitt handing over the baton as CEO to Nathalie Veysset.

Madame Veysset, 34, is an expert in corporate management who previously worked in finance, with a senior managerial post at one of the world’s leading banks. After joining Montres DeWitt in April 2008, Nathalie Veysset has successfully redefined the firm’s priorities, stressing the need to meet the expectations of the brand’s exclusive clientele.

The reorganization sees Jerome DeWitt retire from the company’s executive management to become the brand’s Global Ambassador and concentrate on creating new, exclusive watch collections.