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ARTS INVESTMENT NEWS - January 2012

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Is Modern Finance Ruining Modern Art? Bloomberg, 31 Jan 2012

 

The Abu Dhabi Authority for Culture '&' Heritage (ADACH) has unveiled investment plans for the Al Ain National Museum (AANM) and Hili Archaeological Park (HAP) to celebrate the heritage and culture of the city. WAM – Emirates News Agency, 31 Jan 2012

 

The arts and culture investments in the Gulf region reaffirms its commitment to use culture as a tool of soft diplomacy and furthering of people-to-people ties. Times of India, 31 Jan 2012

 

Art Market: A Bubble in the Making? Barron’s (blog), 30 Jan 2012

 

Military Funding vs. Funding for the Arts: What Does the Difference Say About American Values? Huffington Post, 30 Jan 2012

 

Why We Shouldn't Worry About The (Alleged) Decline Of The Music Industry. Forbes, 30 Jan 2012

 

Hong Kong's "big nine" performing arts groups and some medium-sized groups will get a boost from the government in the next financial year. South China Morning Post, 28 Jan 2012

 

WIPO Report Presented at OAS Highlights the Growing Economic Benefits of the Creative IndustriesThe report highlighted the rapid growth of the sector -- 2.5 times faster than the average growth of economies in general. The Bahamas Weekly, 28 Jan 2012 

 

Fine Art and High Finance: Artful Investing. MoneyLife, 28 Jan 2012

 

Israeli film industry is a surprising powerhouse. CBC, 27 Jan 2012

 

China now home to almost half of the world's 100 top-earning contemporary artists. China Daily, 27 Jan 2012

 

One of Australia's leading investment bankers on arts philanthropy. The Australian, 27 Jan 2012

 

Pershing Square Foundation makes its the largest arts-related donation ever of $25 million to New York’s non-profit Signature TheatreBusiness Insider, 26 Jan 2012

 

Art spending forecast to increase in Singapore. ChannelNewsAsia, 25 Jan 2012

 

Tourism Development & Investment Company (TDIC) announced the opening dates of the Saadiyat Cultural DistrictLouvre Abu Dhabi in 2015, Zayed National Museum in 2016, and Guggenheim Abu Dhabi in 2017. Dubai Chronicle, 25 Jan 2012

 

Art Investors Lured by 12% Return Offer by Fund. Bloomberg, 24 Jan 2012

 

The world's first regulated art exchange that securitizes artworks and sells shares to investors: A good investment idea? Blouin ArtInfo, 24 Jan 2012

 

Vietnam strengthens cultural diplomacyThe country is set to participate in multilateral cultural mechanisms for national socio-economic development to elevate Vietnam’s role and position. VietNamNet, 24 Jan 2012

 

Arts: Culture will remain at the heart of work and play. It is ironic that spending on culture is under pressure worldwide, just at the time that culture is proving itself to be a vital part of business marketing, economic regeneration, diplomacy and image-building. In the meantime the art market continues to defy predictions of gloom (…). Financial Times, 24 Jan 2012

 

The Organization of American States (OAS) and the World Intellectual Property Organization (WIPO) to present the conclusions of a series of national studies on the Economic Contribution of Creative Industries and its impact on economic development and employment in the continent. OAS Press Release, 24 Jan 2012

 

UK games industry faces brain drain and lack of investment. The Guardian (blog), 23 Jan 2012  

 

Indian art market a rosy picture. The National, 23 Jan 2012

 

The International Federation of the Phonographic Industry, a global music industry lobbying group, blames piracy and government sluggishness for slow online music revenue growth. CTV Edmonton, Canada, 23 Jan 2012

 

The Muscat 2012 calendar of internationally significant arts, sports and cultural tourism events will build Muscat's profile as Arabia's tourism capital. The Times of Oman, 21 Jan 2012

 

 “Arts & Business” UK forms new link-up to keep operating. Birmingham Post, 21 Jan 2012

 

The company Artprice has set up an online “market place” where dealers, artists and members of the public can put their works of art up for sale, based on an auction system. Art Media Agency, 19 Jan 2012

 

As part of its support for emerging cultural industries, China’s Ministry of Finance and State Administration of Taxation recently announced their intentions to continue the favorable value-added tax (VAT) and business tax (BT) treatment to the animation industry. China Briefing, 19 Jan 2012

 

How South Asia's Cultural "Monsoon" Is Changing the Art World. Blouin ArtInfo, 19 Jan 2012

 

Arab artists flourishing as uprisings embolden a generation. Innovative and edgy work attracts attention around the world – and record prices at auction. The Guardian, 18 Jan 2012

 

Evidence of the Asian art market's resilience. Time World, 18 Jan 2012

 

Ghana’s Music Industry Loses GH¢5 Million a Year. Ghana web, 17 Jan 2012

 

Turkish Culture Ministry to discount film tickets to boost national film industry. National Turk, 17 Jan 2012

 

The international interior design festival to be held in Shanghai this April is toprovide a strong stimulus to the city's effort to develop its creative industry into a pillar industryChinaDaily.com, 17 Jan 2012

 

Juilliard School Announces $20 Million Gift for Early Music. New York Times/Arts Beat, 16 Jan 2012

 

Hawaii Tourism Authority Funds Cultural Programs. Hawaii Reporter, 16 Jan 2012

 

Indonesia Seeking Investment to Grow Its Creative Economy to over 11 percent of GDP. CNBC, 15 Jan 2012

 

Inside China's high-rolling art world. Picasso and Warhol are being outsold by Chinese painters as a new wave of wealthy buyers reshapes the global market. Wall Street Journal, 13 Jan 2012

  

Music industry sues Irish government for refusing to bring in a SOPA style law which blocks websites. Techeye.net, 12 Jan 2012

 

Creative trends 2012: An uncertain future for UK’s creative industries. Digital Arts, 12 Jan 2012.

 

Singapore aiming for healthy intellectual property environment to boost its creative industries. Singapore’s CIs contributed S$11.8 billion in value-add to the economy in 2010, up from S$3 billion about a decade ago. Channelnewsasia, 12 Jan 2012

 

Wales sets up fund to boost music industry. The Stage, 11 Jan 2012

 

Random House takes over at McClelland & Stewart. Deal saves imprint of Canadian publishing house established in 1906. CBC News, 10 Jan 2012  

 

Helsinki may soon be home to a new Guggenheim Museum focusing on architecture and designEstimated at a total cost of 140 million €, Helsinki anticipates funding the project through a combination of public, private, and corporate sources. YLI.fi, 10 Jan 2012

 

The New Asia Society Hong Kong Center, a premier provider of educational and cultural programs, is revitalized with funds generously donated by The Hong Kong Jockey Club Charities Trust and other donors. 10 Jan 2012

 

Sri Lanka's tourism boom expands to culture, arts, archaeological sectors.NewsLK, 10 Jan 2012

 

$1 million angel investment for online art fair, expansion includes three new fairs in 2012. Art Daily, 10 Jan 2012

 

NBC Announces Musical Theater Program for Schools Needing Arts Education. Huffington Post, 10 Jan 2012

 

EU countries ponder massive increase in arts spending. EU Observer, 10 Jan 2012

 

Arts cuts could cause economic ‘tailspin’ in Toronto. The Star, 09 Jan 2012

 

Can the Arts Survive Without Banks? Huffington post, 09 Jan 2012

 

The Gambia and Qatar Sign Agreement to Strengthen Cultural Ties. In the context of enhancing joint cooperation in culture, Gambia seeks funding for a multi-purpose cultural centre in Qatar as well as investors from the Middle East for its tourism sector. AllAfrica.com, 09 Jan 2012

 

Evolution Media Capital (EMC) and NALA Investments Form NALA EMC, a Latin America-Based Investment Banking Firm, a Joint Venture Offering Media-Focused Investment Banking And Strategic Advisory Services Throughout the Region. Market Watch, 09 Jan 2012

 

Iran, Tanzania Sign Cultural Cooperation Agreement. Iran Daily, 09 Jan 2012

 

Developing NE Asia’s cultural market as soft power. China Daily, 09 Jan 2012

 

How to bet on China’s Hollywood surge. New data says China’s box office hit 13 billion yuan ($2.1 billion) in 2011, up 30%, meaning it now only trails the U.S. and Japan in size. Market Watch, 08 Jan 2012

 

What are the aims of direct subsidies to artists? (blog), Arts Journal/Diane Ragsdale, 08 Jan 2012

 

Art market beats equities for second year. The art market defied the economic gloom to return 11 per cent to investors in 2011, outpacing stock market returns for a second consecutive year. Financial Times, 08 Jan 2012

 

What’s the value of an art school? Art Threat, 07 Jan 2012

 

Turkey: Istanbul - a hub for Islamic art theft as unwelcome by-product of an international boom in demand for Islamic art.  Eurasia Review, 07 Jan 2012

 

Financial crisis grips Bosnia heritage sites. Reading rooms in Bosnia-Hercegovina's National Library have opened without heating. BBC News, 06 Jan 2012

 

Digital downloads overtake physical music sales in the US for first time.Figures show digital album sales passed the 100m mark for the first time in 2011. The Guardian, 06 Jan 2012

 

Nigeria’s Federal Government has approved a Tourism Development Fund to enable the Ministry of Tourism to seek private sector funding for the country’s tourism development programmes. Vanguard, 06 Jan 2012

 

How Art History Majors Power the U.S. Economy. Bloomberg, 06 Jan 2012

 

A Dubai non-profit organization seeks to help revive Baghdad’s art scene. Al Arabiya News, 05 Jan 2012

 

Shanghai and Hong Kong have signed an Agreement on Cultural Exchange and Co-operation with the aim of fostering more arts and cultural exchanges and jointly promoting Chinese culture. 7th Space Interactive, 05 Jan 2012

 

China's art market booms, but bubbles loom. Xinhuanet.com, 05 Jan 2012

 

Of art and soul: Can culture offer higher values to a society still obsessed with money? Scotsman.com, 05 Jan 2012

 

Spanish Ministry supports Portal for the Promotion of Cultural and Creative Industries (FOMECC). The portal is part of a Program carried out in Colombia, Honduras, Niger, Peru and Senegal in collaboration with local counterparts and financial support of the Spanish Agency of International Cooperation for Development – AECID. African Colors, 05 Jan 2012

 

The Philippine Chamber of Commerce and Industry (PCCI) seeks flexible investment policies. “PCCI Invest 2012" aims to mainstream reform programs on significant and critical investment drivers that need public-private collaboration such as the creative industries.  Malaya Business Insight, 05 Jan 2012

 

Art finance pawning service gets positive response in China. China Economic Net, 05 Jan 2012

 

Why should we fund the artsPublicly funded arts institutions are under more pressure than ever to quantify the social benefits they bring, as would be done for schools and hospitals. The Guardian, 05 Jan 2012

 

US music sales up for first time since 2004. BBC News, 05 Jan 2012

 

Investment in heritage key to luring the cultural tourist. Irish Times, 04 Jan 2012

 

Artprice Launches Online Auctions and Eyes China Art MarketArtprice is setting up white labels for auction houses that will use Artprice and its Standardised Marketplace as their technical host for online auctions, thereby providing Artprice - which is not an auctioneer - with another source of income. Auctionbytes.com, 04 Jan 2012

 

Chile’s Museum of Pre-Columbian Art receives important donationA donation of 3000 pieces from the Yaconi-Santa Cruz collection, previously housed in the Archaeological Museum, makes this the largest collection of Chilean artefacts in the world.  The Santiago Times, 04 Jan 2012


The UK’s Art Fund Steps in to Mitigate Arts Council CutsLast year, Art Fund gained 18,000 new members, helping them in their work to compensate for drastic government cuts to arts spending. Art Lyst, 04 Jan 2012

 

New study shows architecture, arts degrees yield highest unemployment.The Washington Post, 04 Jan 2012

 

Sales of DVDs in the UK slipped by 7.2% in 2011, according to new figures from the British Video Association. BBC News, 04 Jan 2012

 

Taiwanese venture capitalist seeks to build a globally competitive film industry in Taiwan. The fund for movies and TV projects is bolstered not just by Tw$270 million ($9 million) of risk-loving cash, but also by a comprehensive vision for where Taiwan's economy should be heading in the coming years. AFP, 04 Jan 2012

 

Chinese officials call for support of the cultural industry. From 2001 to 2010, the value of China's exports of cultural products increased 2.8 times and its exports of cultural services increased 8.7 times, according to the Chinese Ministry of Commerce. Xinhuanet.com, 04 Jan 2012

 

Supported by the European Union’s Cultural Industries Program for the ACP Group of States, Haiti will host the next Music Festivals Network Africa-Caribbean-Pacific. Defend.ht, 04 Jan 2012

 

Movie theater stocks slide amid Wall Street rally. Los Angeles Times, 03 Jan 2012

 

The Dominican Republic’s Cuseco Artisan Arts Center was inaugurated last week thanks to collaboration of government agencies and private entities. Dominican Today, 03 Jan 2012

 

Why is some art a better investment than stocks? Value of big name artworks has soared while market barely nudged. Ottawa Citizen, 03 Jan 2012

 

UK music sales decline for 7th successive year despite downloads.Combined digital and physical album sales fall by 5.6% but British acts account for half of 2011's top 10 selling records. The Guardian, 02 Jan 2012

 

Japanese Animation industry is looking toward India. India Express, 02 Jan 2012

 

Need to enhance finance for classical music says former Governor of the Reserve Bank of India. The Hindu, 02 Jan 2012

 

As of 2012 the EU Droit de Suite Artist's Resale rights have come into effect in Britain. London Art Network, 01 Jan 2012

 

Market of contemporary Indian art is estimated to be around 5% of the total market now. Times of India, 01 Jan 2012

 

Indian art market's new-found interest in folk painting will benefit crafts. The Times of India, 01 Jan 2012