‘Ring out the old, Ring in the new,’ runs the first line of one of Sir Alfred Tennyson’s most popular poems. We certainly had that opportunity only a short time ago and the ousting of 2008 was perhaps what many readers would characteristically be only too happy to do.

Bleak news related to ‘economic meltdown’, ‘recession’, ‘stocks plummeting’, ‘credit crisis / squeeze’, ‘bankruptcy’ and the liberal use of pessimistic terminology dominated media headlines in particularly the last quarter of 2008. So, what does 2009 then have in store for us?

The Middle East, thankfully yet, appears to have been less affected by the ongoing financial woes and whilst brands may be losing steam elsewhere, they are certainly more bullish in this region.

Top international luxury and lifestyle brands are still gravitating to the region. The economies, particularly of the GCC states and according to many economists and observers, still good, creditworthy, resilient and capable of withstanding the onslaught. This is evident from the success of the recently concluded Jewellery Arabia 2008 and the extraordinary interest in the upcoming 6^th Edition of the Doha International Jewellery & Watches Exhibition to be staged in the capital of Qatar from 17 to 22 February 2009.

Will the Middle East be able to hold its own during 2009? Time alone will tell.

Nevertheless, we hope 2009 will be a year for renewed optimism for the Middle East and for the remainder of the world.

MPParabia Editorial Team

Swatch Group, the world’s largest watchmaker, is expecting slower growth in 2009, the company’s Chairman told the Swiss weekly newspaper ‘Handelszeitung’. “2009 would be a year without huge growth,” Nicolas Hayek was quoted as saying in an interview with the newspaper. “Growth will be smaller but still reasonable compared with other industries,” Hayek added.

The Thai Gem & Jewellery Traders association (TGJTA) has reported that during the period January—October 2008, the Kingdom’s total gem and jewellery exports reached USD $ 6.7 billion, an increase of 58 % compared to the same period in 2007.

During the January—October 2008 period, Thailand exported USD $ 971.3 billion worth of diamonds; USD $ 480.4 million worth of coloured gemstones; and USD $ 5.25 billion worth of jewellery. According to Khun Vichai Assarasakorn, President, TGJTA, Thailand remains the world’s leading commercial and manufacturing centre of coloured gemstones.

More than USD $ 5.0 million worth of premium watches have been recently stolen from a Singapore store, in a rare crime of such magnitude in one of Asia’s safest cities, according to a AFP report. Cortina Holdings Ltd., which has outlets in South East Asia, Taiwan and Hong Kong, said it discovered the theft which occurred at the retailer’s outlet in the posh central Raffles City Shopping Mall after close of business on Christmas Day.

Omega has announced the renewal partnership with the Emirates Golf Club as the Official Timekeeper and co-sponsor of the Dubai Ladies Masters, the only Ladies European Tour tournament in the Middle East held in November 2008. “Omega has long been associated with the royal and ancient game of golf and we are proud to contribute to and associate ourselves with this development,” remarked Raynald Aeschlimann, Vice President, Omega.

Omega had the honour of presenting its stunning new diamond-studded Constellation 160 Years to Germany’s Anja Monke, winner of the Dubai Ladies Masters 2008, by Ms. Nayla Hayek, member of the Swatch Group’s Board of Directors.

In an unprecedented challenge, Jaeger LeCoultre has made in enamel on one the most exclusive pieces of art on the case of its celebrated Reverso watch, which can be worn on the owner’s wrist as part of the watch. A private British art collector who owns an incredibly valuable Lord Leighton original oil painting called ‘Pavonia’ wanted to personalize his Jaeger LeCoultre Reverso watch.

This incredibly challenging task, with only a handful of artisans in the world being able to create such a feat, took 120 hours for the brand’s enamellers to complete.

Luxury Swiss watch manufacturer has announced the Middle East launch of the iconic Big Ingenieur with a seven-day automatic movement in a platinum case and in a rose gold case. Its 45 mm diameter case accommodates IWC’s largest automatic movement in the form of the 51113 calibre.

The watch is also now available in a case made of platinum, in a limited edition of 500and in a rose gold case in unlimited numbers. A sapphire glass and the screw-in crown ensure that this Ingenieur has a water-resistance tested to 12 bar. The crocodile leather straps in black or brown provide high wearing comfort.

Drawing inspiration from the very sources of 18^th century Romanticism, Jaquet Droz bring together their watch-making talent and aesthetic excellence by celebrating Saint Valentine’s day with a special version of the Grande Seconde medium. Within the dial in the shape of a figure of 8, symbolizing eternal joy, born of the infinite union of two interlocking circles, just like the yin and yang.

Produced in a ‘numerus clausus’ of 8, the Grande Seconde medium Saint-Valentin illustrates the perfect harmony of this romantic date by offering an exquisitely feminine version, 39 mm in diameter.

The 1764-established, Paris headquartered House of Baccarat has introduced its newest InsomNight jewellery collection. Feminine, yet full of character, the InsomNight collection has many facets, like facets of the night, its pleasures and its muse. The gold range is rich and sensuous, glowing with two warm shades—clear crystal pink and clear crystal brown. It comprises a small pendant, a medium-sized sautoir necklace and large, exceptional, limited-edition sautoir necklace.

The silver range is available in two colours—crystal clear blue and clear crystal green and offers many combinations. It includes rings, generously proportioned, medium-sized model and a ‘mini’ ring, elongated and delicate.

Eleven clock and watchmakers of the AHCI (Academie Horlogerie des Creatures Independants, Horological Academy of Independent Creators) presented their works at a joint exhibition at Viennatime, Austria’s largest and most important watch exhibition that took place in November 2008.

The AHCI consists of 32 idealists from 11 countries. The exhibition displayed the works of Peter Wibmer (AHCI President), Marco Lang, Frank Jutzi and Thomas Prescher among others.