oleh admin | Apr 3, 2025 | luxury goods and services, luxury watches, news, rolex, watches
Although the outlook for 2025 isn’t overly optimistic due to the subdued Chinese market and changing worldwide consumer preferences, leading luxury watch manufacturers are showing no signs of restraint in their presentations at Geneva.
Watches and Wonders, the annual event taking place in Geneva, Switzerland, offers a glimpse into the present state of the industry.
current condition of the high-end watch market
. Led by market frontrunners such as
Rolex, Patek Philippe, and Cartier
Creating buzz with their recent releases, along with independent labels presenting their fresh designs, the exhibition draws in reporters, store owners, enthusiasts, and aficionados who explore the stalls—many of which are remarkably lavish—at Palexpo, a conference center close to the city’s airport.
Despite remaining at the forefront of luxury watch production, Switzerland experienced a downturn in 2024 following several years of expansion during and post-pandemic, where affluent consumers who couldn’t travel lavished their money on watches and similar expensive goods. The Federal Watch Industry reported that Swiss watch exports fell by 2.8 percent last year to reach 25.9 billion Swiss francs ($29.59 billion). This decline was largely attributed to a significant drop of over 25 percent in sales within China.
Although the United States and Europe have experienced somewhat milder impacts, China—including significant markets like Hong Kong and Macau—has faced an economic downturn due to a property market crisis and high levels of youth unemployment on its mainland.
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Many new releases showcased during Watches and Wonders frequently lead to long waitlists for devoted enthusiasts, yet predictions for 2025 appear less optimistic based on data from the initial two months of this year. Although Swiss watch exports increased by 4.1 percent year-over-year in January 2025, they dropped by 8.2 percent year over year in February, particularly due to sluggish sales in China and Hong Kong.
Cyrille Vigneron, the president of the Watches and Wonders Geneva Foundation, acknowledges that forecasting trends for 2025 remains challenging due to recent uncertainties altering worldwide consumer behavior. For example, following the Russian invasion of Ukraine, Russian consumers have shown different purchasing habits.
moved to Dubai
In both Istanbul and China during the coronavirus pandemic, we saw a notable increase in luxury expenditures due to heightened domestic consumption as travel restrictions prevented people from purchasing goods overseas. According to Vigneron’s remarks made during an interview in Geneva, “China’s implemented stimulus measures should play a crucial role.” He expresses optimism about China continuing to lead economically: “It seems likely that China will remain at the forefront; however, timing remains uncertain. Predicting future trends is challenging, yet stimulating local consumer demand and addressing the property market could potentially usher in another phase of economic expansion.”
When discussing uncertainty, Vigneron concurs that although the U.S. has performed exceptionally well recently—surpassing China as the biggest watch market—the protectionist measures implemented under the Trump administration are now raising questions about the stability of its luxury consumer base.
One point that many would concur with is that the watchmaking sector has grown quite divided, featuring only a few independent producers alongside large conglomerates like
Cartier owner Richemont
And withOmega owned by the Swatch Group—dominatingthe industry. As statedina reportbyMorganStanley andconsultancyLuxeConsult, what’sknown asthe “BigFour”(whichincludes Rolex,PatekPhilippe,AudemarsPiguet,andRichardMille)—are collectively securinganimpressivecombinedmarketshare of47percent.
Although it’s still too soon to gauge the overall reaction to this year’s fair – which is set to welcome visitors over the coming weekend – the atmosphere remains optimistic. According to both Vigneron and Matthieu Humair, the CEO of the Watches and Wonders Geneva Foundation, registrations have surpassed those from prior years.
While wandering through the corridors of the fair, it was hard not to notice a much younger and more varied group of attendees. As Humair explains, “The youthful generation comes with the desire to explore innovations as well as enjoy experiences when visiting us. They seek out exceptional offerings from renowned watchmakers which prompted us to introduce fresh interactive zones within the exhibit for networking purposes. Additionally, we extended our reach into the heart of Geneva by opening up parts of the event throughout the city.”
In an industry long perceived as somewhat exclusive, particularly during events like Watches and Wonders, these changes are highly promising. They’re making sophisticated knowledge, heritage, cutting-edge technology, and artistic designs accessible to a fresh generation of watch enthusiasts. This group tends to wear their timepieces with sneakers or kitten heels rather than opting for formal attire such as suits and ties.
Here are some key points from Watches and Wonders 2025.
Rolex
, the sector’s premier luxury label, grabbed attention with the reveal of the
Oyster Perpetual Land-Dweller
Tennis icon Roger Federer, who endorses Rolex, stopped by the brand’s exhibit at the fair when it opened on the first day.
Patek Philippe
Introduced 15 new models demonstrating advanced technology, featuring a fresh Calatrava model with instant day-and-date display along with an eight-day power reserve capability.
The leading global luxury conglomerate LVMH showcased its array of brands such as Tag Heuer and Hublot, along with its jewelry offerings at the event.
Bulgari
, which presented its latest creations as part of the official Watches and Wonders collection for the first time (recently, LVMH appointed Bulgari’s CEO Jean-Christophe Babin as the head of LVMH Watches). The Italian jewelry house set new benchmarks with the introduction of the Octo Finissimo Ultra Tourbillon, the slimmest automatic flying tourbillon wristwatch ever crafted.
Not surprisingly, the Swiss-based luxury conglomerate Richemont, which announced a 10 percent increase in quarterly sales in January thanks to the outstanding performance of jewelry brand Van Cleef & Arpels, led the event with its collection of labels, featuring one that dates back 270 years.
Vacheron Constantin
, where the world’s most intricate wristwatch was unveiled. The two-faced Les Cabinotiers Solaria Ultra Grand Complication La Première features an astounding 1,521 parts, 41 complications, and has been awarded 13 patents.
Powerhouse
Cartier
In the meantime, it honored its legendary designs through a fresh take on the Panthère watch, showcasing a design inspired by both zebras and tigers. Additionally, they presented the Tank A Guichets, a revamped edition of their classic Tank model, distinguished by its use of digital time indication.
Jaeger-LeCoultre
Additionally, the spotlight was on its iconic timepiece, the Reverso. This collection features two floral-themed editions—the Reverso One Precious Flowers Green Arums and the Reverso One Precious Flowers Purple Arums—which stand out as remarkable creations designed for the brand’s numerous female admirers (each model will have only ten pieces made).
Audemars Piguet and Richard Mille, along with Swatch Group brands like Omega and Longines, choose not to participate in the fair. Instead, they prefer unveiling their new pieces to clients and media beyond the conventional watch show circuits.
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The article initially appeared on the South China Morning Post (www.scmp.com), which serves as the premier source of news covering China and Asia.
Copyright © 2025. South China Morning Post Publishers Ltd. All rights reserved.
oleh admin | Apr 3, 2025 | entertainment, health, health & fitness, health and exercise, news
The daughter of Phillip Wain, who was a co-founder of the health and beauty chain in Hong Kong and Southeast Asia, announced that he passed away on March 14 at his residence in Australia.
Edwin “Eddie” Phillips, who was both a businessman and the co-founder of the health and beauty retail chain Philip Wain in Hong Kong and throughout Southeast Asia, passed away due to lung cancer at the age of 74.
Natasha, his daughter, disclosed the information on Wednesday, mentioning that Phillips passed away on March 14 at his residence in Byron Bay, Australia.
Phillips, renowned for introducing aerobics to Asia, launched the fitness chain alongside his business associate, Barry Wain, in the city during October 1977. The venture later extended its reach to Bangkok, Singapore, and Kuala Lumpur.
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Natasha mentioned, “He was a gifted entrepreneur even when he was young and had a strong passion for fitness and well-being as he led an energetic sports-oriented life. Competing vigorously in judo and participating in various athletic activities, he also had an intense love for surfing.”
Whenever my brother and I participated in our extra-curricular activities at school, my dad was always eager to be there.
Natasha mentioned that she actively participated in drama productions, noting that she had extended an invitation to her dad for the special showing of the play.
South Pacific
which she was part of.
“I wasn’t aware of what a gala entailed, so I didn’t inform my dad that it required formal attire. As a result, he showed up to watch me perform wearing his usual clothes but still managed to pull it off with style,” she remembered.
Phillips has been married two times. His first marriage produced two offspring: Natasha and Bogart, who currently reside in Australia. The kids were born from his union with Deborah Sims.
Following his separation from Sims, Phillips tied the knot with Kellie Bright in Australia. They became parents to a boy named Jesse, yet their union ultimately concluded in divorce.
Phillips was born and raised in Entrance, a quaint seaside locale on the Central Coast of New South Wales. He began his professional journey at a gym in Sydney before obtaining certification from the prestigious Academy of Natural Healing.
In the 1970s, Phillips departed from Australia for Asia, journeying through Thailand prior to achieving success in Hong Kong.
Natasha mentioned that he was dubbed the “Fitness King of Hong Kong” and the “Spa King” in Australia.
His former spouse, Sims, who was referred to as “the Fitness and Aerobics Queen of Hong Kong,” contributed significantly to building the Phillip Wain brand over several years. Additionally, she represented the city as an Olympic swimmer.
In Australia, he established a vast business enterprise featuring Camp Eden Health Retreat in Queensland and Temple of the Body and Soul in Sydney. His investment holdings also encompassed establishments such as Kirra Beach Hotel in Queensland and the Pearl South Pacific Resort in Fiji.
He died in Byron Bay, an area he once described as “natural, undeveloped and has fabulous surfing”.
He stated in a 1998 interview with the Post that he could connect with nature both physically and spiritually.
He revealed to the Post in 1994 that besides surfing, he was an avid swimmer too. Each morning before breakfast, he would swim 70 lengths in his 17-meter pool located at his residence on Bowen Road.
Allan Zeman, chairman of the Hong Kong Lan Kwai Fong Group, said Phillips was “very popular” in the city’s social scene, and was often seen at the nightlife district Zeman founded.
Zeman mentioned that he was consistently well-dressed and maintained an excellent physique since he managed a gym.
He would often serve many affluent individuals. Back then, being a member there was the thing to do in Hong Kong.
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Hong Kong’s MPF saw an increase of $4.5 billion in the first quarter, equating to $936 per member.
The article initially appeared on the South China Morning Post (www.scmp.com), which serves as the premier source for news coverage of China and Asia.
Copyright © 2025. South China Morning Post Publishers Ltd. All rights reserved.
oleh admin | Apr 3, 2025 | health, indian national news, infrastructure, news, politics
Panipat
(
Haryana
[India], April 3 (ANI):
Haryana
Chief Minister
Nayab Singh Saini
On Wednesday, the Prime Minister was notified about the matter.
Narendra Modi
‘s visit to
Haryana
to inaugurate various
development projects
.
Speaking to mediapersons,
Haryana
Chief Minister Saini stated, “In honor of Dr BR Ambedkar Jayanti, PM Modi will be present.”
Haryana
to inaugurate various
development projects
…In Hisar, Prime Minister Modi will launch air service operations at the Hisar airport. In Yamunanagar, he will also participate in laying the cornerstone for an additional 800-MW unit thermal power plant within the Yamunanagar district….
On April 14, coinciding with Dr BR Ambedkar Jayanti, Prime Minister Modi will be visiting to inaugurating several initiatives.
development projects
and launch air travel services from Hisar Airport.
In Yamunanagar, Prime Minister Modi will also participate in laying the foundation stone for an 800 MW thermal power plant within the same district during his visit.
Haryana
visit.
The
Haryana
Yesterday, the Chief Minister had an audience with Asian Wrestling Championship gold medalist Manisha Bhanwala, silver medal recipient Reetika Hooda, and bronze laureate Muskan Nandal, along with their coach Mandeep. Also in attendance was Olympic medallist and Bharatiya Janata Party figurehead Yogeshwar Dutt.
Haryana
Chief Minister
Nayab Singh Saini
On his official X account, he celebrated the players’ win and expressed wishes for a successful future for each of them.
“Today, senior wrestlers who won medals at the Asian Championships visited us. Gold went to Manisha, silver to Reetika Hooda, and bronze to Muskan Nandal; their coach, Mandeep, accompanied them. They came as a gesture of respect. During this welcome ceremony, they were greeted warmly and congratulated on their achievements. Best wishes for continued success were extended. We hope the blessings of Mata Rani will be ever-present among you. Wishing each one of you a promising future,” said the Chief Minister.
Nayab Singh Saini
Posted on his official X account.
Manisha Bhanwala (62 kg), an Indian wrestler, clinched the gold medal, while Antim Panghal (53 kg) secured the bronze medal in their respective weight classes at the Asian Wrestling Championships held in Amman, Jordan, on Friday. This achievement brought honor to India, according to information from Olympics.com. (ANI)
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oleh admin | Apr 2, 2025 | asia, economy of china, international relations, news, politics
From the ‘two sessions’ to the Boao Forum, Beijing is advancing technological self-reliance, eco-innovation, and assistance for less developed countries.
China’s annual
“two sessions”
Last month’s parliamentary sessions highlighted key national focuses such as promoting indigenous technological advancements, speeding up the shift towards renewable energy sources, and tackling the issue of debt.
Boao Forum for Asia
expanded on these themes.
Beijing’s leaders are emphasizing China’s position as a stabilizing element in Asia and an advocate for multinational cooperation amidst escalating U.S. tariffs, increasing environmental pressures, and fractured worldwide trade patterns. They aim to navigate these geopolitical and economic challenges through a mix of diplomatic agility and strategic legislation.
China’s Two Sessions reiterated its commitment to promoting Chinese-style modernization, an approach viewed as being underpinned by three key elements:
strong technological foundation
, a
highly skilled workforce
with extensive worldwide reach.
Innovations in
artificial intelligence
(AI) — a sector that reportedly generated $402.6 million in revenue last year, with projections indicating potential growth to $3.98 billion by 2030 — highlights China’s adaptability through advancements in quantum computing and renewable energy. Addressing substantial debts within the real estate industry along with supporting urban economies remains crucial.
reforms
To guarantee sustainable development, addressing these concerns is among China’s highest priorities.
In the meantime, U.S. protectionist actions such as tariffs have accelerated China’s shift toward regions like Southeast Asia, Africa, and Latin America. These tariff policies pose risks to worldwide trade stability but have simultaneously encouraged Beijing to strengthen international partnerships.
For instance, China’s merchandise trade with member countries of the
Regional Comprehensive Economic Partnership
During the initial eleven months of last year, trade under the RCEP amounted to $1.65 trillion, marking a 4.4 percent rise compared to the previous year. Technologies focused on sustainability, such as those found in electric vehicles (EVs), advanced nuclear reactors, and wind energy systems, serve as key drivers for boosting national economies domestically while also advancing global environmental initiatives.
During the Boao Forum, China highlighted collaboration rather than individualistic approaches. The RCEP, encompassing the biggest trade zone globally, has opened substantial opportunities for lesser economies: Vietnam’s manufacturing industry benefits from zero-tariff access to Chinese parts, whereas Cambodia’s rice and textile exports have seen growth due to this agreement.
Alongside this, the
Belt and Road Initiative
stays crucial for worldwide integration,
reaching
US$70.7 billion worth of contracts and US$51 billion in investments were recorded last year.
Since its inception in 2013, the program has gathered a total of $1.175 trillion, supporting initiatives like the
China-Laos railway
– having carried 48.6 million passengers and 54 million tons of cargo since 2021 – as well as Indonesia’s
“Whoosh” high-speed railway
, reducing the travel time between Jakarta and Bandung from more than three hours to just 46 minutes, thereby rejuvenating tourism and fostering small business development.
The Belt and Road Initiative serves as a counterweight to historical imbalances through its fair collaborations. For example, last year’s China-ASEAN Expo featured participation from 740 companies belonging to the Association of Southeast Asian Nations.
Challenges persist, however.
Panama’s exit
Following geopolitical pressures from the Belt and Road Initiative, it underscores the impact of Western interference. Nonetheless, South-South collaboration remains robust. African leaders are progressively viewing China as a genuine partner in upgrading infrastructure, highlighting the attractiveness of this initiative.
China’s push towards technological independence is transforming international industries. The collaboration between Huawei Technologies and Thailand has created Southeast Asia’s first major tech hub.
first fully 5G-integrated factory
, leveraging real-time analytics to transform manufacturing efficiency.
At the same time, the Asian Infrastructure Investment Bank (AIIB) has directed 60 percent of its total approved funding toward sustainable initiatives, backing projects like Bangladesh’s $200 million renewable energy grid.
China
is ahead in 37 out of 44
key and rapidly evolving technology sectors, reinforcing its role as a leader in scientific advancement. Developments in
helium-3 extraction
and
fusion energy
in line with its 2060 carbon neutrality commitment, while the AIIB aims for a climate finance target of
US$50 billion
By 2030, this emphasizes their dedication to environmental responsibility.
In addition,
reforestation initiatives
and
EV subsidies
emphasize this commitment, positioning China as a leader in climate action even as the United States pulls back from the Paris Agreement.
again
.
The financial resilience was bolstered even more last year as
cross-border yuan usage
rose by 21.1 percent, decreasing reliance on the US dollar. This change corresponds to
shift focus from the US dollar
By other members of the BRICS bloc, which account for 45 percent of the world’s population. The U.S. trade gap with China has decreased from $375 billion in 2018 to $295 billion last year—but the recent tariffs imposed by President Trump threaten over $7 trillion worth of yearly trade passing through the South China Sea.
US
sanctions on semiconductors
And green technologies have had unintended negative consequences, bolstering China’s self-sufficiency while increasing expenses for Western economies, evident in Germany’s industrial downturn and the European Union’s faltering “de-risking” initiative.
China is also taking a prominent position globally, striving to resolve conflicts around the world.
Ukraine
to
Myanmar
while advocating for United Nations reforms to provide greater influence to countries from the Southern Hemisphere.
At the same time, it promotes a more inclusive worldwide financial system, encouraging the
World Trade Organization
and
International Monetary Fund
To advocate for a multipolar system, balancing Western reform efforts to more accurately represent the needs of rising economies. This involves opting for collaboration rather than fragmentation.
China’s progress in technologies such as
renewable energy
,
5G
AI isn’t solely for its own sake; these technologies are essential tools for the world. The long-term collaborations facilitated by initiatives like the Belt and Road, which provides funding over multiple decades, along with the RCEP, which decreases trade barriers such as tariffs, support this perspective. Additionally, the AIIB backs projects aimed at harmonizing economic expansion with environmental conservation.
Despite obstacles such as U.S. tariffs and climate-related issues, China persists in advancing technological self-reliance, promoting green innovations, and supporting less developed countries. The Boao Forum aptly encapsulates these challenges and possibilities: our decisions will shape humankind’s destiny.
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The article initially appeared on the South ChinaMorning Post (www.scmp.com), which is the premier source for news coverage of China andAsia.
Copyright © 2025. South China Morning Post Publishers Ltd. All rights reserved.
oleh admin | Apr 2, 2025 | government of pakistan, news, outages, pakistan, security
On April 2, mobile internet services were halted in Quetta, leading to widespread annoyance among residents. The administration has yet to provide an explanation for this recent disruption.
This suspension follows shortly after an earlier interruption. It has caused issues, particularly during the hectic Eid period when staying connected is crucial.
In recent months, Balochistan has experienced heightened militant activities. Armed attackers struck the Jaffar Express last month, intensifying security worries.
Consequently, security protocols in the region continue to be stringent. There are still limitations on nighttime travel for passenger vehicles aimed at ensuring safety.
oleh admin | Apr 2, 2025 | controversies, government, news, politics, politics and government
The All Progressives Congress (APC) has rejected Peter Obi’s criticism of President Bola Ahmed Tinubu’s government, describing it as a rant from someone experiencing “an extended period of post-election defeat frustration.”
In a statement released on Wednesday, Barrister Felix Morka, who serves as the National Publicity Secretary for the governing party, commented on remarks allegedly made during a Prime Time show on Arise Television on Tuesday by the previous Labour Party contender.
The APC alleged that Obi delivered a comprehensive criticism of the Tinubu administration while intentionally overlooking its accomplishments in nearly every sector.
To tell you the truth, watching Mr. Obi struggle fruitlessly to construct any coherent critique of the economy despite the clear and indisputable evidence of progress from the administration’s reform efforts was quite distressing. Even his usual tactic of exaggerating temporary challenges faced by Nigerians who have backed the President’s ambitious and innovative economic strategy failed to provide him with an escape route. As he stumbled through his presentation on national TV, he ended up looking like a symbol of exasperation and political hopelessness.
Mr. Obi often says, ‘I could have done better as president,’ indicating a prolonged state of disillusionment following electoral defeats. He seems unable to accept that he does not hold the office of presidency. Similar to an unqualified passenger who believes they are a professional racer, Mr. Obi ought to rein in his inflated and misguided sense of self.
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Opposition politics isn’t focused on dismissing the numerous achievements of the administration. Instead, it involves pointing out potential issues while also recognizing the positive aspects. This approach doesn’t aim at overall criticism meant to deceive or gain easy political points. The consistent advancement made by the Tinubu administration in various fields is clear and visible to every Nigerian.
In listing the government’s achievements in reviving the economy, increasing foreign reserves, restoring idle refineries, and reducing inflation, the APC asserted that Tinubu would remain focused despite criticism from figures like Obi. As the former Governor of Anambra State, Obi left behind an unfortunate heritage marked by economic decline, deteriorated infrastructure, environmental crises, and heightened religious tensions.
The declaration went on to say: “As both the previous governor of Lagos State and currently serving as president, Tinubu has proven himself to be an unyielding achiever who fearlessly tackles daunting tasks head-on, converting them into chances for progress. Just like his accomplishments in Lagos, President Tinubu is now driving similar advancements across Nigeria. The country’s economy shows steady recovery, consistently recording enhanced trade surpluses leading to projected economic growth of 3.6% this financial year. Foreign reserves are rapidly increasing, domestic refineries have been restored and put back into operation, food price increases are slowing down, various currency rates have successfully converged which encourages more foreign investment and remittance inflows, and the foreign exchange market remains relatively stable.”
The administration highlights its achievements through the resolved $7 billion foreign currency backlog and Ways and Means debt exceeding $30 billion. They have decreased their debt servicing ratio from 98 percent down to around 64 percent. Oil production has surged past 1.8 million barrels per day (mbpd), breaking OPEC’s long-standing quota of 1.5 mbpd after numerous years. The country’s stock exchange market, which has become among the most lucrative globally, reflects this progress. Additionally, significant growth across various sectors including agriculture, mining, steel, manufacturing, creativity, and others aims at boosting non-oil contributions to Gross Domestic Product (GDP). Recently, Chatham House recognized the national economy as being more competitive than ever before within the last quarter-century.
While global organizations and specialists are praising the quiet economic transformation underway under President Tinubu’s leadership, Obi and his fellow opposition supporters persist in dismissing President Tinubu’s remarkable and unparalleled accomplishments nearing the midpoint of his term.
President Tinubu continues to remain unwaveringly concentrated on achieving effective governance and enhanced economic circumstances for Nigeria’s entire population.
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