Jennifer Lopez has recently neglected to return USD $ 50,000 worth of international jeweller-billionaire Robert Mouawad diamonds after wearing them to a fashion launch in Beverly Hills. J-Lo, along with Leah Remini, Gwen Stefani and Ellen Pompeo, all wore items by the famed jewellery designer to the swank event. After the other three ladies gave back their expensive accessories to Mouawad, Lopez made an executive decision and figured that her wearing of the jewels in public was enough of a payment. The diva’s manager Benny Medina, told the New York Post that J-Lo intends to keep the jewellery.

According to a Mouawad representative in New York—as far as Sheikh Robert Mouawad is concerned, Jennifer can have what she wants but a premature demand on her part seemed presumptuous.

NASDAQ Dubai has recently launched the region’s first Sharia-compliant tradable security backed by gold to satisfy a growing demand for the precious metal as a safe haven in the global recession. The product, which trades in the same way as an equity share and tracks the price of gold, is aimed at the region’s high net-worth individuals (HNWIs) who are looking to diversify their portfolio.

“We see a huge potential in the GCC because of its affinity for gold,” said Aram Shishmanian, the CEO of the World Gold Council (WGC), which launched the product with the Dubai Multi Commodities Centre (DMCC).

The Dubai Pearl Exchange, a subsidiary of the Dubai Multi Commodities Centre (DMCC), has announced that the Emirate’s pearl trade more than quadrupled during 2008, underlying Dubai’s active role in the global pearl market.

Reports from the Statistics Department of Dubai World indicate that the value of loose pearl trade in Dubai grew from USD $ 6.0 million in 2007 to over USD $ 26 million during 2008, representing a growth of an impressive 324 %. The trade of natural pearls has been driven by imports through Hong Kong and Switzerland and other countries including Japan, Spain, Australia, Thailand, Turkey & the United Kingdom.

UAE Customs officials are being taught how to identify rough diamonds and ensure that consignments of gems are properly certified, as authorities attempt to clamp down on smuggling. 30 officials from Dubai International Airport, Dubai Cargo Village & Dubai Multi Commodities Centre (DMCC) recently attended a seminar where they were taught how to differentiate between rough diamonds and other precious stones and minerals.

For the first time in the history of the brand, leading Brazilian global jeweller H. Stern presented the global launch of its Giverny Red Carpet Collection at a leading sea face hotel venue in the UAE. On his first visit to the UAE, New York city based Ronaldo Stern, CEO, H. Stern was joined by Shireen El Khatib, CEO, Azal Al Tayer, regional brand distributor, to welcome VIPs from across the Gulf region for the world premiere of Giverny, a new line of jewels inspired by the leaves and textures of Monet’s garden in the namesake city in France.

A celebrated cast of talented Oscar awardees wore Milus watches at the recent presentation ceremonies. These included Dustin Lance Black, screenwriter wearing a classic Milus Agenios; leading international actor Michael Sheen wearing his Milus Zetios Automatic; Jennifer Coolidge, actress and comedian; Paula Idol of American Idol, top Bollywood actor Anil Kapoor, wearing a Herios Automatic and Harvey Lowry and Todd Tucker from the cast of ‘The curious case of Benjamin Button’.

Leading Middle East jewellery retailer Damas was appointed to create the world’s largest 1 metre diameter, 185.88 kg, coin-like medallion crafted from fine silver and gold-plated with 22-carat gold, commemorating the 10^th anniversary of the founding of the Sheikh Hamdan Bin Rashid Al Maktoum Award for Medical Sciences in Dubai, UAE.

Italian watch brand Tonino Lamborghini will present its latest additions to its Spyder collection to the international market at Baselworld 2009. Worth noting is the Spyder model’s strap in black rubber which recalls a real tyre tread, a detail which underlines passion for speed and mechanics, two elements which have set this historic Bolognese brand apart.

Vacheron Constantin, the world’s oldest watch manufacturer with more than 250 years of watchmaking experience, offers unique watches for the Arab bride and groom on their wedding day. Available in 18 carat white or pink gold, the 1972 Cambree for the bride is sumptuously adorned with 232 diamonds (1.7 carats) with a gold bracelet featuring a thin profile, asymmetrical links and an invisible clasp that helps it slide lithely on the wrist.

The Malte Chronograph in a new 18-carat white and pink gold versions features three counters.

Richemont associate luxury brand Montblanc, has announced the launch of the Dubai limited edition COSC-certified TimeWalker Chronograph Automatic watch, whose production is limited to only ten pieces in the world. According to Joe Nahhas, Regional Brand Director, Montblanc Middle East, this model is a one of a kind chronometer-tested watch that reveals avant-garde design and embodies the brand’s classic values.

This 43 mm chronometer is produced from a range of high quality materials including 18-carat red gold and black ceramic and is a tribute to the city of Dubai that has long been known as the city of merchants.

The Arceau Pocket moon phases retrograde date from the House of Hermes, available in rose or white gold model, is empowered by the brand’s Vaucher Manufacture Fleurier movement with a moon-phase complication requiring no correction for 122 years and 46 days.

The sapphire crystal case-back enables one to admire the precision and the perfect craftsmanship involved in the execution of the 306 parts of its calibre, featuring bridges and oscillating weight sprinkled with the brand’s trademark ‘H’ signature. The Arceau Pocket watch is issued in two limited, numbered series of 24 in rose gold and 24 in white gold.

Abu Dhabi, UAE-headquartered Khalil Al Sayegh Jewellers, a pioneer in the fine jewellery sector, has unfurled ‘The Imperial Collection’, a new collection of fine gemstones and bridal jewellery. These inimitable and exclusive pieces have been especially created by Italian designer Marco Baroso.

These personalized and bespoke jewellery pieces not only adorn the bride but are also intended to be an item for investment.

2002-established independent Swiss watchmaker Thomas Prescher, inventor of the flying Triple Axis Tourbillon, will preview the Perpetual Calendar QP1 designed by Oliver Scharer. The model has central indication of all calendar data, including leap year indication. The watch has a power reserve of 36 hours and its case is made from 18-carat gold or platinum.

Around 30,000 buyers attended this year’s 26^th Hong Kong International Jewellery Show held at the Hong Kong Convention & Exhibition Centre from 5 to 8 March 2009. Local buyers were up by 11 percent this year and buyers were also up from emerging markets including the Middle East from countries such as Argentina, Chile, China, the Czech Republic, the Philippines, Poland, Saudi Arabia, Tanzania, Tunisia and Vietnam.

More than 2,300 exhibitors from 46 countries and regions, a new exhibitor record, attended the show. Exhibitor response was also good, according to Raymond Yip, Assistant Executive Director, Hong Kong Trade Development Council, organizers of the exhibition. “We will continue to bring new buyers to our trade shows and promote Hong Kong as a regional trading hub,” added Mr. Yip.