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DIRIYAH SQUARE DETAILS TO BE UNVEILED AT WORLD RETAIL CONGRESS
(ICE) – ROMA, 14 APR – Plans for a lifestyle hub in Diriyah boasting more than 400 shops and over 100 restaurants and cafes will be unveiled at the World Retail Congress in Paris.
Details around the development will be on show at the event, set to be held from April 16 to 18, Diriyah Co. have announced.
The destination – known as Diriyah Square – is part of a $62.2 billion refurbishment and renovation of the area, which has been designated as one of Saudi Arabia’s giga-projects.
In a statement announcing the presence at the World Retail Congress, Group CEO of Diriyah Co. Jerry Inzerillo said: “Diriyah Square is more than just a shopping destination—it is a symbol of Saudi Arabia’s commitment to driving economic growth and fostering creativity and innovation.”
He added: “That is why we are so excited to invite investors and stakeholders from around the world to join us in this exciting journey, and to be a part of shaping the future of retail.
“With its pedestrian-centric design, direct access to Wadi Hanifah, and close vicinity to the breathtaking At-Turaif UNESCO World Heritage Site, the district will be a world-leading lifestyle destination.”
Diriyah is a key component of Saudi Arabia’s Vision 2030 initiative to diversify the Kingdom’s economy away from oil.
Upon completion, it will host 100,000 residents, workers, students, and visitors.
In February, Inzerillo told Arab News that Diriyah Co. is aiming to break ground on 11 new assets by the end of 2024.
Speaking on the sidelines of the Public Investment Fund’s Private Sector Forum held in Riyadh, the CEO said that among the upcoming initiatives is the King Salman Boulevard, which he deemed Saudi Arabia’s version of Paris’ Champs-Elysees.
It will be revealed in December, when the company holds its “Bashayer” event to announce its upcoming initiatives.
The last meeting saw the unveiling of the Diriyah Art Futures museum.
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ISETAN SHINJUKU PROPONE NUOVO REPARTO DEDICATO AGLI OROLOGI DI LUSSO
(ICE) – ROMA, 11 APR – Il 27 marzo è stato inaugurato, al 5° piano del negozio del GG.MM. Isetan Shinjuku a Tokyo, un piano interamente dedicato agli orologi.
La popolarità globale di questo accessorio di lusso è esplosa dopo il 2021, in seguito allo scoppio della pandemia. In quel periodo, diversi grandi magazzini giapponesi hanno aperto o rinnovato i loro reparti di orologeria. Nel 2020, Hankyu Umeda di Osaka ha rinnovato il reparto degli orologi incrementando la superficie di vendita di 2,5 volte ca.. A Nagoya, nel luglio 2021 è stata inaugurata la “Takashimaya Watch Maison” seguita, nel luglio 2022, dalla riapertura del reparto di orologi di Matsuzakaya, il primo rinnovo in 14 anni. I due negozi di Nagoya, tra i più grandi del Giappone, hanno una superficie di vendita di circa 1.200 mq.
Il nuovo reparto orologi di Isetan Shinjuku ha raddoppiato la superficie originale arrivando a trattare circa 70 marchi. Il piano è suddiviso in tre aree: la “Fine Watchmakers” per i clienti alla ricerca di orologi più tradizionali, la “Creative Watchmakers” per quelli interessati ad articoli più innovativi, e la “Japan Zone”. Quest’ultima, che si concentra sui marchi SEIKO e Casio G-Shock, non include i modelli venduti dalla grande distribuzione, ma piuttosto una selezione di articoli speciali disponibili solo per il pre-ordine sullo shop online. Un altro esperimento innovativo è costituito dalla vendita di prodotti realizzati da “micro-maison”, che attirano l’attenzione degli appassionati. (ICE TOKYO)
PROPOSALS TO REMOVE DOMESTIC GOLD MARKET MONOPOLY
(ICE) – ROMA, 9 APR – Việt Nam Gold Traders Association has put forward a pilot proposal allowing three companies to carry out gold import of around 1.5 tonnes per year, in an effort to gradually remove the monopoly in the domestic gold market.
Accordingly, Phú Nhuận Jewelry (PNJ), Saigon Jewelry Company and Doji Gold and Gems Group (DOJI) each will be allowed to import 500kg gold per year, worth around US$30 million, to process gold jewellery.
The proposal was raised after the recent meeting of the National Financial Monetary Policy Advisory Council which agreed that the State monopoly on gold bar production should be abolished, and production licences should be granted to qualified enterprises.
At the Government’s monthly meeting on Wednesday, Prime Minister Phạm Minh Chính asked for efforts to stabilise the foreign exchange market and gold market, and to gradually narrow the gap between domestic and international gold prices.
With regard to Government Decree 24/2012 on managing gold business, which has been proved to be outdated, the State Bank of Vietnam proposed the State monopoly on gold bar manufacturing be abolished while licences to be granted to qualified companies rather than only one.
The existing State monopoly on gold bar production, with SJC the sole maker of Sjc-branded bullion and the Vietnamese general preference of stocking gold, cause imbalance of supply and demand in the domestic market, resulting in the huge price gap with world prices.
PNJ, SJC and DOJI are the three largest out of more than 5,900 gold businesses in Việt Nam.
In 2023, PNJ reported a profit worth more than VNĐ33 trillion and an after-tax profit of VNĐ1.97 trillion, up by 8.9 per cent.
SJC reported a revenue of more than VNĐ27 trillion in 2022, up 53 per cent and also the highest revenue in 2013-22 period. However, its after-tax profit was modest at VNĐ48 billion.
DOJI reported a profit of more than VNĐ1 trillion in 2022, 4.3 times higher than 2021. The company also earned a profit of nearly VNĐ154 billion in the first half of 2023. (ICE HO CHI MINH CITY)
GOVERNMENT OF INDIA HAS TAKEN UP ISSUE OF BAN ON IMPORTS of Russian diamonds by EU, G7: S Jaishankar
(ICE) – ROMA, 8 APR – The Indian government has taken up on priority the issue of ban on imports of Russian-origin unpolished diamonds by the European Union (EU) and G7 nations as the measure will end up hurting the domestic diamond polishing industry mainly centred in Gujarat’s Surat city, said External Affairs Minister S Jaishankar on 01 April. The initial stage of an EU and G7 ban on imports of Russia-origin diamonds via third countries came into effect in early March, a step taken as part of sanctions on Moscow in response to its invasion of Ukraine. “Our effort is to delay (the initial stage of ban), soften it, and best of all, not let this happen at all. For us, this has become a priority issue, and we will try to find out a solution in coming days,” Jaishankar said here. He was responding to a question on how the ban is going to hurt the Surat diamond industry, which polishes 90 per cent of the world’s rough diamond. (ICE NEW DELHI)
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