Google Cloud Speech-to-Text API (Chirp) + Gemini 2.5 Flash Non-Thinking. Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:00toward the southeast still causes some more clouds, occasional
00:00:03showers, mostly in central eastern areas and sporadically in the south, but
00:00:07as the day progresses, the clouds will gradually disperse, so
00:00:11in the afternoon there will be increasingly dry weather,
00:00:14sunny periods, so the day should actually end peacefully
00:00:18in Bosnia and Herzegovina. As
00:00:21next to it, and you see that in for temperatures, as I said, today we are somewhat lower with the numbers, in
00:00:24Bosnia it remained below 30°, in
00:00:27the south a few degrees above, that is everywhere. several degrees
00:00:31lower temperatures than yesterday, but due to higher humidity
00:00:34there is no significant feeling of freshness,
00:00:37tomorrow again hot, sunny,
00:00:40air temperatures rise above 30, on Thursday sometimes even
00:00:43above 35, it seems that some newer showers could
00:00:47be around Friday and Saturday, mostly in the north of
00:00:50Bosnia, we will still see their exact location, all in all, hot
00:00:54summer weather continues, but it will not be completely stable
00:00:57and that would be all from... the news overview, dear
00:01:01viewers, thank you for your attention, goodbye,
00:15:01move with a times or turn back the clock. I'm Anna
00:15:04Stewart, this month we're in Geneva, the home of
00:15:07watchmaking. As economics shocks loom and
00:15:11market shift, we find out how some of the oldest names in the
00:15:14industry and the rising stars are responding to the
00:15:17challenge. Time to seize the moment and innovate
00:15:21or return to their roots. All that coming up here on Mark. place Europe,
00:15:35it's time for watches and... wonders, where the world's top
00:15:39watchmakers unveil their latest creations. There's
00:15:43always so much to see at watches and wonders, and we never have enough
00:15:46time to see it all. Once in a while, you'll see something out of the
00:15:50corner of your eye, and you can't help but
00:15:52stop.
00:15:56With 41 separate mechanisms which not only tell
00:16:00the time, but track the sun's position, the moon's
00:16:03phase and the constellations in the sky. This is the world.
00:16:07most complex wrist
00:16:09watch.
00:16:17another record for a watch maker who's been in
00:16:20business ever since 1755.
00:16:24watchen constantin is uh is the the oldest watch
00:16:28brand with a non-stop activity since 270 years. that
00:16:31means that uh this is the fourth century actually in which we are doing watches. what
00:16:35does it take for a brand? exist for this long, the key
00:16:39word i think for us is really about consistency, we have been going
00:16:43through crisis, wars etc, but we
00:16:46never seized our activity, the maison
00:16:48is considered think as a
00:16:52benchmark of uh, we could say the classic watch
00:16:56making, we are very exclusive brand, we are doing our
00:16:59own movements in house with our watch makers and we
00:17:03are here with our master gush super chai who
00:17:06is doing what's we call guioche, this
00:17:10require a great care of
00:17:13scale, because the super chair is
00:17:16tracing lines, removing the the gold surface of
00:17:20sometimes the equivalent of one human air, i have look like this,
00:17:23mhm,
00:17:31it's all done by hand, all done by hand, how old is this
00:17:33machine,
00:17:371914 yes? wow gosh, then we are
00:17:39going to to move to gem
00:17:43setting, gem setting sound, something i could get
00:17:46on board with, this is where the diamonds are, have look at
00:17:49this,
00:17:53well look at these, and i think animaling is always super
00:17:56spectacular, that's extraordinary, what a
00:17:59skill, will this brand still be here in another
00:18:02270 years? we are making sure that our washes are
00:18:06able to cross the... counturies, without creativity, without
00:18:10innovation and without taking care about our crafts and your
00:18:13people, uh, you, I don't think we will be able
00:18:16to to celebrate this anniversary
00:18:19today,
00:18:23brands are increasingly focusing on what makes their
00:18:26watches stand the test of time, and rightly
00:18:30so, this year could be tough, a 10%
00:18:34tariff on swisswatch exports to the US, its biggest..."
00:18:37market and it could rise to 31% later this
00:18:41year, and the industry is already coming off the back of a difficult
00:18:452024. Swiss watch Exports drop by almost
00:18:483% worldwide and by 25%
00:18:52when it came to its second biggest market, China. It's
00:18:56been a tricky year this last year for the watch sector.
00:19:00Walk us through why. I think when you have any kind
00:19:03of all these geopolitical tensions and you have um...
00:19:07fertility and so much uncertainty, it's obviously going to
00:19:10affect your purchases, your confidence, and I think all that is
00:19:14being translated into lower watch sales and volumes. there are some brands
00:19:18who were really long on China, they were really um sort
00:19:22of that that was their key customer, so as
00:19:25that's gone down that those brands have obviously felt the
00:19:28pinch. while many in the industry are
00:19:32feeling the lag in luxury, big players like
00:19:35Rolex are thriving, actually, increasing their market
00:19:38share and annual turnover by almost $600
00:19:42million in 2024.
00:19:45Rolex has by far the biggest market share of all of the watch brands
00:19:49and even when luxury is not doing very well, Rolex
00:19:53generally
00:19:54is.
00:19:58There is this flight to quality, you know, tried and true
00:20:01brands, uh, Rolex, quartier, protect
00:20:04Felipe, and there is a sort of reassurance that these... brands have
00:20:08been been around for so long and will continue to be there
00:20:11and during especially now that's a great thing to kind of grab
00:20:15to. is 2025 going to be a good year for watch making?
00:20:19i think the contraction will continue. um volume is
00:20:23down, but the big brands, the classics will continue to do
00:20:26well.
00:20:342025 saw Italian luxury icon. gari's
00:20:37debut at Watches and Wonders with its
00:20:40CEO elevated to head up parent company
00:20:43LVMH's entirewatch division,
00:20:47testament perhaps to Bulgary's growing strength.
00:20:50even as some of their watches slim
00:20:53down, is this the thinnest watch in the world? this is the
00:20:56sinness ever Tobion watch ever created,
00:21:00uh, the thickness is 1.85
00:21:04mm, which is difficult to understand until you
00:21:08put a one swiss fron
00:21:11a one swiss fron, you have 246 components put
00:21:15together, including a turboyon, which is a pinackle of complications, it
00:21:19was a... difficult year for luxury 2024, but bulgari did
00:21:23extremely well. why is that? how did you buck the trend? you
00:21:27are defined by your expertise and the pinackle of
00:21:30your expertise is a irory watch or
00:21:33higher necklace. if you have a stronger high end, you can somehow
00:21:37compensate uh some
00:21:41stagnation or even decline. this is exactly what
00:21:44has happened in china. china has been the engine of luxury grows
00:21:48for more than decade. and then with
00:21:50uncertainty
00:21:53uh young Chinese are a bit more cautious
00:21:55conversely uh Chinese in their early
00:21:5840s uh quite well see don't hesitate at all
00:22:02to buy e and watches so it's important
00:22:06to also have a high end not only
00:22:09because uh it's a buffer uh which
00:22:12can all you to be more resilient in some
00:22:15circumstances but primarily because the high end is defining
00:22:19the brand.
00:22:26in the crowded halls of watches and wonders whether it's the big names or
00:22:29the new faces, this is an opportunity to show
00:22:32consumers how they stand out from the
00:22:35crowd. oof, look at
00:22:38this, i don't even know what it
00:22:41is.
00:22:43it's a real beautiful classics at the tech,
00:22:47self-winding and obviously some diamonds.
00:22:50"but what if the crowd is
00:22:53changing? the threat of trade wars and
00:22:56tariffs, a lag and luxury and cautious
00:22:59consumers may sound alarm bells for all but the very
00:23:03biggest brands, yet for some emerging watch
00:23:07makers, it may also be their time to
00:23:10shine. we talked about the watch industry
00:23:13crashing right, or the watch market crashing. if you flip this around, if you
00:23:16look at the independent watch brands, we've seen a massive increase. My name
00:23:20is Ellie Berneim, I'm the CEO of our
00:23:23family uh brand which is Raymond Vale. You are
00:23:27third generation, third generation, my grandfather, Raymond Vale
00:23:30himself created and founded his company in
00:23:331976. 2024 was very difficult year for luxury,
00:23:36particularly with inflation, consumers not spending much. How's
00:23:42difficult year for you, every single brand. We grew last
00:23:46year at some point, it's the the reality of our business, we need to talk to a...
00:23:59but mean look at that piece for less than 1,500 swiss frank i mean
00:24:02this is the most successful watch think i've ever seen at watches
00:24:05and appreciate that is like
00:24:09it's nothing here that's also the reason why i think that we we have role to
00:24:12play in that watch industry to offer
00:24:16accessible not to say affordable but
00:24:24people assume watches are investments, watches aren't
00:24:27investments, watches are pieces of art,
00:24:30people are looking for different things in watches, right? you can't tell the
00:24:34time faster, can you? well, how about
00:24:37slower? so with just pressing the button,
00:24:41you suspend time, meaning that the two hands goes
00:24:44at noon, and the the hands of the dates
00:24:48disappear. and then you enjoy your evening
00:24:52or whatever, your party, you stop time, you stop
00:24:55time, you have very playful designs to your watching, we
00:24:58have, we want to be very serious about quality of course
00:25:02and technique, but very widely open
00:25:05to fantasy and to design and to color, try to
00:25:09be always surprising, if you press the
00:25:13button on the left, then the tongue comes out, are you allowed
00:25:16to press it, you want, yeah, nobody sees.
00:25:23and there it is, congratulations, looking with the most strange complications
00:25:27i've ever seen in watches,
00:25:30so as us tariffs now begin to bite, what does
00:25:332025 hold for watch making? the big browns
00:25:37will always be strong, the cool bit is and the challenging part is small
00:25:41browns like Norcane, like really standing up, raymond wheel
00:25:44really standing up, i think the contraction will continue, but maybe it's a bit of
00:25:48a reality check. for all of us and still probably a survival of the big
00:25:52classics, yeah, definitely the the big brands, the classics will continue
00:25:56to do well, we will always remain a very exclusive brand in the high end
00:26:00segments, it's a matter of being able to to carry... on on on this pass
00:26:03of doing uh, i would say traditional
00:26:06watchmaking, however also combining innovation,
00:26:09creativity and definitely relevant in for
00:26:132025. time is up for this edition of
00:26:17marketplace europe, thank you for joining us, you can find more from us online at
00:26:20the link below, but for now goodbye from
00:26:23geneva!
00:26:52Forbes has arrived in Bosnia and Herzegovina, every
00:26:55business, every success, starts with
00:26:58an idea, with information, stay updated, follow
00:27:03events on the business scene with the most famous global
00:27:06business magazine Forbes BiH business
00:27:10success Forbes.
00:30:18Good afternoon, dear viewers, you are following an info event of
00:30:21the day.
00:30:25Miners from Breza refused to go to the pit due to unpaid wages and
00:30:28announced a protest in front of the headquarters of Elektroprivreda Bosnia and Herzegovina.
00:30:35The fight against fires continues in our country, all available
00:30:38forces are on the ground in Bihać, in Bosansko Grahovo they are waiting
00:30:42for the action of the armed forces'
00:30:44helicopters.
00:30:47At least 17 people killed in Russian attacks across Ukraine,
00:30:51Kyiv carried out the largest drone attack on Moscow in the last two
00:30:55years.
00:30:58Fifth day of the Sarajevo Film Festival.