Sheikh Salem Bin Abdul Rahman Al Qasimi, Abdullah Bin Sultan Al Owais and other officials at the Watch and Jewellery Show on Tuesday. John Varughese/ Gulf Today
Business Bureau, Gulf Today
SHARJAH: Cementing the credentials of the UAE as a global jewellery hub, the who’s who of the industry from across the world have descended on Sharjah for a key consumer and trade event that got under way at Expo Centre Sharjah on Tuesday.
The 46th Watch & Jewellery Middle East Show was inaugurated by Sheikh Salem Bin Abdul Rahman Al Qasimi, Chairman of the office of His Highness the Ruler of Sharjah, in the presence of senior government officials, board members of Sharjah Chamber of Commerce and Industry (SCCI), diplomats, jewellery sector executives and industry representatives. Held under the patronage of His Highness Dr. Sheikh Sultan Bin Mohammed Al Qassimi, Supreme Council Member and Ruler of Sharjah, the event will continue until Saturday (April 6, 2019).
“In 2018, gold had lost some of its luster due to market headwinds. But that is changing now. The year 2019 has taken off well for the gold and diamond jewellery industry in the region, and with the precious metal forecast to regain its shine in the next few months, the Watch & Jewellery Middle East Show is set to trigger an upswing for the jewellery industry. The industry has high hopes on the show, and I am sure the Watch & Jewellery Middle East Show will once again deliver big,” said Abdullah Bin Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry (SCCI) and Expo Centre Sharjah, after the opening ceremony.
The opening ceremony was also attended Waleed Bukhatir, Second Vice-Chairman of Sharjah Chamber of Commerce & Industry, Saif Mohammed Al Midfa, CEO of Expo Centre Sharjah, and Mohamed Ahmed Amin, Acting Director-General of the SCCI. According to multiple international consultancies, gold, which traded near $1,300 an ounce in March, is set to climb higher to $1,400 an ounce by end of next year, offering shoppers a great opportunity to take advantage of the Market condition.
“Thanks to the continued growth of the Watch and Jewellery Middle East Show, the event has become the first and foremost choice for globally jewellery majors to cater to the region that has a strong penchant for luxury goods.
This time too we have strong participation local as well as international names, offering a great opportunity for both the trading community and general buyers,” said Al Midfa said.
For its 46th edition, the show is featuring more than 500 master jewellers from more than 20 countries at 30,000 sq m of premium exhibition area, showcasing latest trends in gold and diamond jewellery from across the world. Exhibitors from Canada are participating for the first time in the show. Right after the inauguration ceremony, hundreds of visitors thronged the stalls, including National Pavilions, which have become a hit with visitors. An integral part of the show, the National Pavilions from Japan, Hong Kong-China, India, Italy, Malaysia, Lebanon, Turkey, Thailand, Singapore and China literarily take visitors on a world tour, giving them a sneak peek into some of the finest collection of jewellery creations.
Etisalat Group on Tuesday announced that its consolidated revenues amounted to Dhs13 billion and consolidated net profit after Federal Royalty amounted to Dhs2.2 billion representing a year over year (y-o-y), increase of five percent and resulting in a net profit margin of 17 per cent.
The fourth Annual General Meeting (AGM) of Emaar Malls, approved the distribution of Dhs1.301 billion ($354 million) dividend, representing 10 per cent of the share capital being 10 fils per share, to the shareholders.
Investors on Tuesday traded with caution anticipating a further rise in the international oil prices, and conclusion of the third and largest phase of the general elections. Sensex ended 80 points lower after a range-bound movement throughout the day’s trade.