The revived, rejuvenated Weekly AWJ B2B Newsletter from the only dedicated business portal bringing the latest developments and breaking news on the watch & jewellery industry in the Middle East to the world is back after a brief hiatus!

Whilst economies in recession and markets across the globe have been taking a relentless battering during the past several months, the Middle East has been bucking the international trend. The region’s economies, particularly the GCC, have been surging in recent times, falling over each other to announce spectacular surpluses, sustained growth and hitting record financial benchmarks, thanks to windfall incomes driven by escalating oil prices.

The international premium watch and elite jewellery industry has always had a very strong interest in the Middle East and our breaking news story about the acquisition of a financial stake by the Swatch Group in the GCC Retailer Rivoli (Backed by the Government of Dubai) is a pertinent case in point of the giant Group’s expansionist plans in the region.

The industry exhibition calendar will be active during upcoming crowded Q4-2008 season and our readers will benefit from our first-hand, on-the-ground reporting of several pivotal and heavyweight regional and international exhibitions including the iconic Jewellery Arabia 2008 to be staged in the Kingdom of Bahrain in November 2008.

We warmly welcome your input. Please feel free to share your thoughts, insights, comments, suggestions and opinions you may have on the Newsletter or the many business stories that we cover. Post your observations on info@mpp-me.com. We would be delighted to hear from you.

Meanwhile, stay put for our coverage of these and other news items!

MPParabia Group Editors

The Fondation De La Haute Horlogerie (FHH) has recently appointed Abdul Hamied Ahmed Seddiqi, Vice Chairman, Ahmed Seddiqi & Sons, as ‘Fine Watch-Making Ambassador’. The appointment certificate was handed over to Abdul Hamied Seddiqi by Patrick Normand, Managing Director, Cartier Middle East and President of the French Foreign Trade Advisors (UAE Chapter), during a private lunch held at the Emirates Towers Hotel in Dubai.

“Mr. Seddiqi’s professional reputation, vast knowledge of mechanical, technical and precious fine watch-making as well as his continued support of the ethics and values of the watch-making art makes him a recognized personality that can promote the Foundation’s culture & tradition,” remarked Patrick Normand who is also Head of the Mission Delegate, Middle East, India, Turkey, FHH. Abdul Hamied Seddiqi responded by thanking FHH for the accolade and confirming the commitment of the 58-year old company to furthering the interests of the industry in the region.

The Foundation has around 100 Fine Watch Ambassadors worldwide.

Richemont SA has bought a 60.0 % stake in Geneva-based watchmaker Roger Dubuis SA. In a mailed statement, Richemont said that the purchase from Dubuis shareholder Carlos Dias will have no material effect on net assets, nor will it have a significant impact on profitability for the financial year through March 2008. Richemont also confirmed that the purchased unit will continue to operate under the Dubuis name.

Following the takeover, Richemont has appointed Matthias Schuler, formerly COO of IWC, as the CEO of manufacture Roger Dubuis SA.

The growing interest from the major global markets and the international recognition achieved have spurred Officine Panerai to spread its wings in a number of countries.

Following the enthusiastic response to the Desiderio Dress, their latest project in Cannes this year, Caroline Gruosi-Scheufele of Chopard fame and designer Alberta Ferretti have decided to collaborate once again. Exploring the similitude, synergy and complementarities between the world of jewellery and fashion, the duo has created a Couture Watch to echo the jewelled dress. This unique watch entirely set with diamonds on white gold is enhanced by delicate briolette diamonds drops on a satin scarf tied around the wrist. “For me working with Alberta Ferretti was a pleasure as we share the same passion and energy in our work,” averred Caroline Gruosi-Scheufele.

This marvel will be unveiled jointly by at the next Mostra del Cinema di Venezia in September 2008. The Couture watch will be auctioned in January 2009 during the amfAR (American Foundation for AIDS Research) event at the Golden Globes to benefit the fight against AIDS.

The Dunhill Sentryman Swarovski Black Diamond Fountain Pen combines luxury, style and innovation. This limited-edition ‘after dark’ incarnation features a barrel wrapped in a unique black Swarovski crystal fabric and a cap topped with 116 black treated diamonds (0.36 carats). Limited to 250 pieces, each has its number delicately engraved on the ring barrel.

Also on the new collections list is the ‘Tribal African Masks Limited Edition’, part of Caran D’Ache’s iconic Artiste Collection. These sumptuous, limited-edition pieces (comprising 128 fountain pens and 64 roller pens) are decorated with precious materials and made entirely by hand are made in 800 solid silver illuminated with gilded details. The nib is in rhodium-plated solid gold.

Sanjay Kothari, GJEPC Chairman, says growth momentum to be enhanced

The much-vaunted Silver Jubilee Edition of the largely export-oriented, long-running, best attended and most prestigious B2B India International Jewellery Show (IIJS 2008), the glittering fixture in the country’s Gem & Jewellery trade exhibition calendar, shone brightly in the country’s Western commercial city of Mumbai from 7 to 11 August. Hosted and organized by the 6,500-member, 1966-established Gems & Jewellery Export Promotion Council of India (GJEPC), the IIJS (2008) is Asia’s second biggest industry show and a magnet for the international trade community who gravitate to the sprawling Mumbai Exhibition Centre exhibition grounds in India’s business metropolis on the occasion. Industry exports in the last fiscal year totaled over USD $ 20.0 billion.

The crowning moment came when the electrifying, glittering and glitzy Show was officially inaugurated at a lavish ceremony on 7 August 2008 by Sanjay Kothari, the ebullient, energetic and vibrant Chairman of the GJEPC in the distinguished presence of his able deputy, Vasant Mehta, Vice Chairman GJEPC and other senior GJEPC office bearers. Also in attendance was a slew of high-powered international industry officials that included Bill Champion, Managing Director, Rio Tinto; Philip Olden, Managing Director & Chief Marketing Officer, World Gold Council; James Courage, CEO, Platinum Guild International; Rajiv Bhandari, President De Beers / DTC India; the Belgian Consul General in Mumbai and a large posse of local press / trade correspondents and a big delegation of especially-invited industry media personnel from around the globe including a staff correspondent of Arabian Watches & Jewellery (AWJ), published by MPParabia.

IIJS 2008 personified superlatives on an unprecedented scale. This year IIJS has 19,000 registered visitors including 2,000 international visitors and at the conclusion of the show clocked in over 30,000 trade attendees. Important statistical data included 800 exhibitors, 1600 stands including 250 international booths and country pavilions from Italy, Thailand, Japan, Belgium, UAE and Turkey. Official delegations representing Governments of Hungary, Uzbekistan, Pakistan, Bangladesh, Myanmar, Thailand, Iran and the Independent Autonomous Region of Kurdistan in Northern Iraq were also present at this landmark event. Interest was very high at this year’s event as GJEPC endeavours to source new supply centres in Africa and identify new and emerging retail markets in the Middle East, Eastern Europe, Russia and the former countries of the Commonwealth of Independent States (CIS) including Ukraine, Armenia and the Trans-Caucasian Republic of Georgia.

The five-day extravaganza was punctuated by an educative and enlightening series of the over 17 technical and retail Spectrum Seminars involving 50 regional and global industry experts and numerous other participants, the razzmatazz of scintillating fashion shows and the Annual Solitaire Design Awards to honour the finest in the business.

The dates of IIJS 2009 have also been announced. The 26^th Edition will be held in Mumbai from 6 to 10 August 2009.

Innovation, ingenuity, creative flair, trendy ideas and intriguing thoughts in the world of jewellery designs will be brought to the fore at the upcoming 42^nd edition of Bangkok Gems & Jewellery Fair (BGJF) to be held in the Thai capital from 11 to 15 September 2008. The principal organizer, the Thai Gems & Jewellery Traders Association (TGJTA), is targeting BGJF as a platform for showcasing contemporary masterpieces, avant-garde designs, unique creations, award-winning collections and spirited objet d’arts.

At the 42^nd Bangkok Gems & Jewellery Fair, visitors will witness a new addition, the Design Pavilion, a newly-introduced gallery where talented Thai and international designers will unveil their talents and skills including Gems Visions 2009. Over 1,500 exhibitors in 16 key product categories will be present at the Fair, which is expected to attract over 30,000 visitors from more than 80 countries.