DUBAI // An Arabic-language timepiece has landed in UAE shops, the only one of its kind on sale worldwide without a special order, its manufacturer says. Fortis Watches launched the model yesterday, said Luke Suter, the Swiss watchmaker's sales manager for the Middle East and Asia.
"This is a watch for the local market," Mr Suter said. "We've experienced decent turnovers here and we wanted give something back. Offering them something and not neglecting their culture and their language." The pieces, which will cost Dh6,000 (US$1,633), went on sale in the UAE at Gems World stores. They will be available elsewhere in the GCC by mid-September and globally by the end of the year.
The model is called the B-42 Al Tayar, which means The Aviator in Arabic ,and reflects its technical specifications for the aviation industry. It is not the first Arabic watch but it is the only one available off the shelf for at least 10 years, Mr Suter said. "There is nothing else like this on the market and hasn't been for some time." The watch was designed by Mahesh Shahani, a watchmaker based in Dubai and the managing partner of Gems World, who came up with the idea after several requests from customers.
The debut comes after a particularly difficult year for the Swiss watch industry. Global exports of the timepieces last year fell to 13.2 billion Swiss francs (Dh44.64bn), down by 22.3 per cent from 2008, the Federation of the Swiss Watch Industry reported. Although the UAE remained in the top 10 markets for Swiss watches, the value of the country's imports fell to 438 million francs. Mr Suter said Fortis's sales were flat last year, globally and in the Middle East, compared with 2008. The company sells on average between 15,000 and 20,000 watches a year, and it sold between 2,000 and 3,000 in the Middle East last year, he said.
With the addition of Al Tayar, Fortis is aiming to sell 4,000 watches regionally this year, Mr Suter said. The federation is also optimistic for this year's exports. "Signals perceived on the markets indicate that 2010 should see a turnaround for Swiss watch exports," it said. "It will however be modest and will only really be felt in the second half of the year." Early indications support the optimism. Total swiss watch exports in the first quarter rose 16.6 per cent, federation figures show. In the UAE, imports of the timepieces were up 49.1 per cent to 144.1m francs. But this increase was from the first three months of last year, when the economic downturn just began to hit the Emirates.
During the boom year of 2008, imports totalled 157m francs. Hong Kong remained the biggest market for Swiss watches in the first quarter, with imports of 690.5m francs, a rise of 33.8 per cent, the federation said. The US came in second, with a 6.7 per cent rise in imports to 343.7m francs. China was the third biggest market, up 78.9 per cent from the year earlier, with imports of 234.6m francs. @Email:aligaya@thenational.ae
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
PAKISTAN SQUAD
Abid Ali, Fakhar Zaman, Imam-ul-Haq, Shan Masood, Azhar Ali (test captain), Babar Azam (T20 captain), Asad Shafiq, Fawad Alam, Haider Ali, Iftikhar Ahmad, Khushdil Shah, Mohammad Hafeez, Shoaib Malik, Mohammad Rizwan (wicketkeeper), Sarfaraz Ahmed (wicketkeeper), Faheem Ashraf, Haris Rauf, Imran Khan, Mohammad Abbas, Mohammad Hasnain, Naseem Shah, Shaheen Afridi, Sohail Khan, Usman Shinwari, Wahab Riaz, Imad Wasim, Kashif Bhatti, Shadab Khan and Yasir Shah.
The bio
Who inspires you?
I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist
How do you relax?
Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.
What is favourite book?
The Perks of Being a Wallflower - I think I've read it more than 7 times
What is your favourite Arabic film?
Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki
What is favourite English film?
Mamma Mia
Best piece of advice to someone looking for a career at Google?
If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.
UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
Juliet, Naked
Dir: Jesse Peretz
Starring: Chris O'Dowd, Rose Byrne, Ethan Hawke
Two stars
The specS: 2018 Toyota Camry
Price: base / as tested: Dh91,000 / Dh114,000
Engine: 3.5-litre V6
Gearbox: Eight-speed automatic
Power: 298hp @ 6,600rpm
Torque: 356Nm @ 4,700rpm
Fuel economy, combined: 7.0L / 100km
