Products

Digital Report - immediate delivery to your email.

Date of Publishing: 2023.
No. of Pages: 36.

The Digital Dollar Project is a non-profit organization devoted to catalyzing private sector research and exploration of the potential advantages and challenges of a U.S. central bank digital currency (CBDC), or “digital dollar.” It works to convene and incorporate the diverse perspectives and expertise of private sector, academic, and non-profit leaders to inform the national consideration of a digital dollar and to understand the implications of global CBDC developments for Americans

_____________________________________________________________________________________________

Contents:

1. Introduction.

2. Refresh: What is the Digital Dollar Project?

3. (Re)introduction to CBDC.

4. Status of global CBDC development.

5. Revisiting the DDP’s tenets for a digital dollar Tokenization.

6. Third format of currency.

7. Maintenance of the two-tiered banking system.

8. Privacy.

9. Monetary policy-neutral.

10. Continued private sector innovation.

11. More research is needed.

12. Global CBDC standards: Will the United States lead?

13. Conclusion: A call to action.

14. Appendix: Region-by-region breakdown of CBDC projects.

- United States

- Europe

- Asia - Pacific

- Africa

- Americas

15. References.

16. About the authors.

____________________________________________________________________________________

Digital Report - immediate delivery to your email.

Date of Publishing: 2024.
No. of Pages: 90.

_________________________________________________________________________________________________

Contents:

1. Human by design. How AI unleashes the next level of human potential.

2. A match made in AI. Reshaping our relationship with knowledge.

3. Meet my Agent. Ecosystems for AI. 

4. The space we need in realities. Creating value in new realities.

5. Our bodies electronic. A new human interface.

_________________________________________________________________________________________________

 

Digital Report - immediate delivery to your email.

Date of Publishing: 2023.
No. of Pages: 260.

_____________________________________________________________________________________________

Contents:

1. The Global Art Market in 2022. 

1.1. Overview of Global Sales.

1.2. Regional Market Performance.

1.3. Online Sales.

1.4. Art and NFTs in 2022.

Exhibit 1. Embracing Technical Innovation in the Artworld.

Exhibit 2. NFTs in a (Legal) Nutshell.

2. Dealers. 

2.1. The Dealer Sector in 2022.

2.2. Dealer Sales.

2.3. Artist Representation.

2.4. Dealer Costs and Margins.

2.5. Buyers.

2.6.  Sales Channels and Art Fairs.

2.7. Online Sales and Strategies.

2.8. Priorities for Dealers in 2022 and Beyond.

3. Auctions. 

3.1. Auction Sales in 2022.

3.2. Top-Tier Auction Houses.

3.3. Second-Tier Auction Houses.

3.4. Online Auction Sales.

3.5. Price Segmentation in Fine Art Auctions.

3.6. Fine Art Sectors.

3.7. Post-War and Contemporary Art.

3.8. Modern Art.

3.9. Impressionism and Post-Impressionism.

3.10. Old Masters and European Old Masters.

Exhibit 3. Unroll the Scroll: The Past and Present of Mainland China’s Auction Sector.

_____________________________________________________________________________________________

4. Outlook Key Findings.

4.1. Outlook for 2023.

Exhibit 4. Run Rabbit Run

Digital Report - immediate delivery to your email.

Date of Publishing: 2023.
No. of Pages: 148.

______________________________________________________________________________________________

Contents:

1. Introduction.

1.1. Introduction.

1.2. Art Collecting and Wealth.

1.3. Art Market Indicators in H1 2023.

1.4. The Cross-Border Trade in Art.

2. Global Collecting in 2023.

2.1. Global Collecting in 2023.

2.2. Description of the HNW Collector Sample.

2.3. The Content of Collections.

3. HNW Collector Spending.

3.1. Expenditure by HNW Collectors in 2023.

3.2. Expenditure by Medium.

3.3. Expenditure by Artist Characteristics.

3.4. Price Levels for HNW Collector Spending.

3.5. Buying Channels Used by HNW Collectors.

3.6. HNW Collector and Dealer Relationships in 2023.

4. Collector Motivations.

4.1. HNW Collector Motivations in 2023.

Exhibit 1. Why do People Collect?

4.2. Collecting as a Process.

4.3. Financial Motivations, Resales, and Credit Exhibit.

5. Events & Outlook.

5.1. HNW Collector Attendance at Events.

5.2. Buying and Selling Plans for 2023 and 2024.

5.3. HNW Collector Outlook in 2023 Rights and Disclaimer Section. 

______________________________________________________________________________________________

Digital Report - immediate delivery to your email.

Date of Publishing: 2024.
No. of Pages: 256.

______________________________________________________________________________________________

Contents:

1. The Global Art Market 2023
   1.1 Overview of Global Sales
   1.2 Regional Market Performance
   1.3 Online Sales
   1.4 Art and NFTs
   Exhibit 1. Navigating a Sea of Instability
   Exhibit 2. The Legal Framework of China's Art Market
2. Dealers
   2.1 The Dealer Sector in 2023
   2.2 Dealer Sales
   2.3 Artist Representation
   2.4 Dealer Costs and Margins
   2.5 Buyers
   2.6 Sales Channels and Art Fairs
   2.7 Exhibitions and Fairs
   2.8 Online Sales and Strategies
   2.9 Dealer Challenges and Priorities
3. Auction Sales
   3.1 Auction Sales in 2023
   3.2 Top-Tier Auction Houses
   3.3 Mid-Tier Auction Houses
   3.4 Price Segmentation in Fine Art Auctions
   3.5 Fine Art Sectors
   3.6 Post-War and Contemporary Art
   3.7 Modern Art
   3.8 Impressionism and Post-Impressionism
   3.9 Old Masters and European Old Masters
   Exhibit 3. The Outlook for the Chinese Auction Market in 2024
4. Conclusions and Outlook Key Findings
   4.1 A Note on Wealth and Luxury Spending
   4.2 Outlook of the Art Trade in 2024

______________________________________________________________________________________________

 -  New York Art Market Review;  

 -  Art Appraisal Service in New York;

 -  Orchestrating the Art Sale.

Digital Report - immediate delivery to your email.

Date of Publishing: 2021
No. of Pages: 352

The Art Market 2021 presents the results of research on the global art and antiques market in 2020. The report presents some of the key high-level trends in the global art trade, analyzing the performance of different regions, sectors, and value segments of the market, and assessing the impact of the COVID-19 pandemic on sales. The information presented in this study is based on data gathered and analyzed directly by Arts Economics from dealers, auction houses, collectors, art fairs, art and financial databases, industry experts, and others involved in the art trade. The Appendix offers an outline of some of the main data sources used in the report.

Chapter 1 provides an overview of the global market in 2020, reporting on the value, volume, and regional distribution of sales of art and antiques. It gives a brief overview of sales in the largest art markets over a 10-year period. The chapter also includes commentary on the effects of the change in the US administration on the market and the impact of the 5th Anti-Money Laundering Directive on auction houses and dealers in Europe.

Chapter 2 focuses on dealers and galleries, analyzing sales and other key indicators, assessing how the COVID-19 pandemic has impacted on different value segments and sectors of the market. This chapter looks at costs, margins, and debt in the sector as well as artist representation. It also addresses the changing priorities and outlook for dealers in 2021.

Chapter 3 looks at the auction sector, analyzing key trends in sales by region and value segment, and how they have been impacted by the pandemic in 2020. It presents a comprehensive analysis of some of the principal fine art auction sectors, describing their performance in terms of sales, regional market share, and price distribution.

Chapter 4 provides an overview of art fairs, reporting on the dramatic changes to the art fair calendar in 2020 and the impact this has on art fairs, galleries, and collectors. It assesses the outlook for 2021 given continuing uncertainties, presenting the results of surveys on high net worth (HNW) collectors, art fairs, and dealers.

___________________________________________________________________________________________

Contents:

1. The Art Market: Key Findings.
1.1. Overview of Global Sales. 
1.2. Global Market Share.
1.3. Regional Performance. 
2. Dealer Sales Key Findings.
2.1 Dealers Surveyed in 2020.
2.2 Dealer Sales.
2.3. Dealer Margins. 
2.4. Buyers.
2.5. Artist Representation.
2.6. Artist Representation by Career Stage.
2.7. Artists Gender and Representation.
2.8. Outlook for the Dealer Sector. 

3. Auction Sales: Key Findings 
3.1. Auction Sales in 2020.
3.2. Price Segmentation in Fine Art Auctions.
3.3. Fine Art Sectors.
3.4. Post-War and Contemporary Art.
3.5. Modern Art.
3.6. Impressionism and Post-Impressionism.
3.7. Old Masters and European Old Masters.
3.8. Conclusions.

4. Art Fairs: Key Findings
4.1. Art Fairs in 2020.
4.2. Art Fair Calendar and Cancellations in 2020.
4.3. Art Fair Survey 2020.
4.4. Impact on Gallery Exhibitions in 2020.
4.5. Art Fairs and HNW Collectors. 
4.6. Conclusions.

5. Online Sales: Key Findings.
5.1. The Online Art Market.
5.2. The Online Retail Market.
5.3. Online Auctions.
5.4. HNW Collectors and Buying Online.
5.5. Website Traffic and Social Media.
5.6. Conclusions.

6. Global Wealth and 6 Collector Perspectives: Key Findings.
6.1. Global Wealth in 2020. 
6.2. Wealth Distribution and Millionaires.
6.3. Billionaires.
6.4. Art Collectors Survey. 
6.5. Description of the Collector Sample.
6.6. HNW Collections of Art.
6.7. HNW Collectors’ Expenditure on Art in 2020.
6.8. Buying Channels for HNW Collectors in 2020.
6.9. Collector Motivations.
6.10. Collectors’ Outlook. 

7. Economic Impact and Conclusions: Key Findings.
7.1. Employment in the Art Market in 2020.
7.2. Dealer Sector Employment.
7.3. Auction Sector Employment.
7.4. Ancillary Economic Impact.
7.5. Conclusions.

___________________________________________________________________________________________

Digital Report - immediate delivery to your email.

Date of Publishing: 2022
No. of Pages: 278

The Art Market 2022 presents the results of research on the global art and antiques market in 2021. The information presented in this study is based on data gathered and analyzed directly by Arts Economics (artseconomics.com) from dealers, auction houses, collectors, art fairs, art and financial databases, industry experts, and others involved in the art trade. 

___________________________________________________________________________________________

Contents:

1. The Global Art Market in 2021
1.1. Overview of Global Sales.
1.2. Regional Market Performance.
1.3. Online Sales.
1.4. Art and NFTs in 2021.
2. Key Findings.
2.1. Dealers Surveyed in 2021.
2.2. Dealer Sales.
2.3. Dealer Margins.
2.4. Buyers.
2.5. Art Fairs.
2.6. Online Sales and Strategies.
2.7. Outlook for the Dealer Sector.
2. Dealers. 
3. Auctions.
3.1. Auction Sales in 2021.
3.2. Online Auction Sales.
3.3. Price Segmentation in Fine Art Auctions.
3.4. Fine Art Sectors.

3.5. Post-War and Contemporary Art.
3.6. Modern Art.
3.7. Impressionism and Post-Impressionism.
3.8. Old Masters and European Old Masters. 
4. Collectors.
4.1. Global Wealth in 2021.
4.2. Wealth Distribution and Millionaires. 
4.3. Billionaires in 2021.
4.4. HNW Collector Survey. 
4.5. Description of the HNW Collector.
4.6. The Content of Collections. 
4.7. Expenditure on Art in 2021. 
4.8. Expenditure on Digital Art and NFTs. 
4.9. Buying Channels for HNW Collectors in 2021.
4.10. HNW Collector Perceptions and Motivations.
4.11. HNW Collectors’ Concerns in 2021.
5. Outlook.
5.1. Conclusions.
5.2. Outlook for 2022.

Tables and Figures:
Figure 1.1. Sales in the Global Art Market 2009–2021.
Figure 1.2. Growth in Sales by Value in the Global Art and Antiques Market 2009–2021.
Figure 1.3. Global Art Market Share by Value in 2021.
Figure 1.4. Global Art Market Share of the US, UK, and Greater China 2012–2021.
Figure 1.5. Sales in the Major Art Markets 2009–2021.
Figure 1.6. Online Sales of Art and Antiques 2013–2021.
Figure 1.7. Share of Online Sales in the Art Market versus General Retail 2016–2021.
Figure 1.8. Share of Value of Art and Collectibles in All NFT Sales 2019–2021.
Figure 1.9. Sales of Art and Collectibles NFTs 2019–2021.
Figure 1.10. Share of Primary Versus Secondary Sales of Art NFTs 2019–2021.
Figure 1.11. Share of Primary versus Secondary Sales of Collectibles NFTs 2019–2021.
Figure 1.12. Monthly Values Traded in Art and Collectibles NFTs 2019–2022.
Figure 2.1. Annual Sales Turnover of Survey Respondents in 2021.
Figure 2.2. Dealers’ Number of Years in Business in 2021.
Figure 2.3. Average Change in Sales Values by Dealer Turnover Segment 2020–2021. 
Figure 2.4. Average and Median Sales in the Primary versus Secondary Markets 2020–2021.
Figure 2.5. Average Change in Turnover by Dealer Sector 2020–2021.
Figure 2.6. Fine Art Dealers’ Share of Sales by Value and Medium in 2021.
Figure 2.7. Share of Dealers Selling NFTs in 2021.
Figure 2.8. Share of the Volume of Sales by Dealers 2019–2021. 
Figure 2.9. Share of the Volume of Sales by Price Bracket in 2021. 
Figure 2.10. Dealers’ Outlook for Sales in 2022. 
Figure 2.11. Share of Total Costs for Dealers 2020 versus 2021. 
Figure 2.12. Change in (Net) Profitability 2020 versus 2021. 
Figure 2.13. Number of Buyers in 2021.
Figure 2.14. Share of Dealer Sales to Buyer Groups by Purchase History in 2021. 
Figure 2.15. Share of Dealer Sales by Buyer Type in 2021. 
Figure 2.16. Share of the Value of Dealer Sales by Sales Channel.

Figure 2.17. Share of the Value of Art Fair Sales by Dealers by Year and Level of Turnover 2019–2021.
Figure 2.18. Average Number of Gallery Exhibitions by Year and Level of Turnover
2019–2022. 
Figure 2.19. Art Fairs Held 2019, 2020, and 2021.
Figure 2.20. Number of Art Fairs Held by Region in 2020 and 2021. 
Figure 2.21. Change in Visitor Numbers 2019 versus 2021 – Selected Fairs.
Figure 2.22. Change in Exhibitor Numbers 2019 versus 2021 – Selected Fairs.
Figure 2.23. Average Number of Art Fairs by Year and Level of Turnover 2019–2022. 
Figure 2.24. Dealers’ Outlook for Art Fair Sales in 2022.
Figure 2.25. Dealers’ Share of Online Sales in 2019, 2020, and 2021.
Figure 2.26 | Average Share of the Value of Dealer Sales Made Online in 2019, 2020, and 2021 by Level of Turnover.
Figure 2.27. Share of the Value of Online Sales by Dealers by Buyer Category in 2021.
Figure 2.28. Share of Online Sales by Buyer Category and Level of Dealer Turnover in 2021. 
Figure 2.29. Online Strategies Used by Dealers in 2020, 2021, and Planned for 2022.
Figure 2.30. Most Helpful Online Strategies for Dealers in 2021.
Figure 2.31. Share of Dealers Engaged in Online and Offline Collaborations in 2020, 2021, and Planned for 2022.
Figure 2.32. Dealers’ Outlook for Online Sales in 2022.
Figure 2.33. Dealers’ Views on the Permanence of Pandemic-Led Changes.
Figure 2.34. Top Five Business Priorities for Dealers 2019–2023. 
Table 3.1. Website Metrics of Selected Auction Aggregators and Auction Houses in 2021.
Table 3.2. Annual Growth and Share of Auction Sales by Price Segment 2019–2021. 
Table 3.3. Global Market Share: Old Masters Auction Market in 2021.
Figure 3.1. Global Auction Sales 2019–2021.
Figure 3.2. Global Public Auction Market Share by Value in 2021.
Figure 3.3. Second-Tier Auction House Share of Sales by Sales Channel in 2021. 
Figure 3.4. Number of Buyers in 2021 by Second-Tier Auction House Turnover Level. 
Figure 3.5. Share of Second-Tier Auction House Sales to Buyers by Purchase History
in 2021. 
Figure 3.6. Change in Net Profits for Second-Tier Auction Houses 2021 versus 2020.
Figure 3.7. Increase in Share of Online-Only Sales: Sotheby’s, Christie’s, and Phillips 2009–2021.
Figure 3.8. Share of Online Sales by Second-Tier Auction House Annual Turnover in 2021.
Figure 3.9. Share of Sales via ATG’s Art and Antiques Platforms 2020–2021.
Figure 3.10. Share of Sales via LiveAuctioneers.com 2019–2021.
Figure 3.11. Change in Global Website Traffic Ranking 2017 versus 2021.
Figure 3.12. Share of Online Lots Sold at Fine Art Auctions in 2021. 
Figure 3.13. Share of Online Lots Sold at Fine Art Auctions in 2021 by Price Segment.
Figure 3.14. Share of Online Lots Sold in Total Sales at Fine Art Auctions in 2021 by
Price Segment. 
Figure 3.15. Share of Lots Sold and Total Values at Fine Art Auctions in 2021 by
Price Bracket. 
Figure 3.16. Growth of Sales by Value in Auction Price Segments 2005–2021.
Figure 3.17. Market Share in Auction Price Segments 2009–2021.
Figure 3.18. Market Share of the Fine Art Auction Market by Price Segment in 2021.
Figure 3.19. Market Share by Value of the Fine Art Auction Market: Selected Years
2000–2021. 
Figure 3.20. Market Share by Sector of the Fine Art Auction Market in 2021.
Figure 3.21. Post-War and Contemporary Art Auction Sales: 2009–2021.
Figure 3.22. Market Share of the Post-War and Contemporary Sector in 2021. 
Figure 3.23. Sales in the Post-War and Contemporary Sector Key Markets 2009–2021.
Figure 3.24. Sales by Price Bracket in the Post-War and Contemporary Sector in 2021.
Figure 3.25. Sales of Works by Living versus Deceased Post-War and Contemporary
Artists 2017–2021.
Figure 3.26. Share of Sales by Living versus Deceased Post-War and Contemporary Artists in 2021.
Figure 3.27. Share of Sales within the Post-War and Contemporary Sector in 2021:
Living and Deceased Artists’ Works.
Figure 3.28. Share of Sales of Living Artists’ Works by Price Bracket in 2021.
Figure 3.29. Modern Art Auction Sales 2009–2021.
Figure 3.30. Market Share of the Modern Art Sector in 2021.
Figure 3.31. Sales in the Modern Art Sector Key Markets 2009–2021.
Figure 3.32. Share of Sales in the Modern Art Sector by Price Bracket in 2021.
Figure 3.33. Impressionist and Post-Impressionist Auction Sales 2009–2021.
Figure 3.34. Market Share of the Impressionist and Post-Impressionist Sector in 2021.
Figure 3.35. Sales in the Impressionist and Post-Impressionist Sector Key Markets
2009–2021.
Figure 3.36. Sales by Price Bracket in the Impressionist and Post-Impressionist Sector
in 2021. 
Figure 3.37. Old Masters Auction Sales 2009–2021.
Figure 3.38. Sales in the Old Masters Sector Key Markets 2009–2021.
Figure 3.39. Sales in the Old Masters Sector by Price Bracket in 2021. 
Figure 4.1. Growth and Estimates in Regional and World GDP 2008–2022. 
Figure 4.2. Change in Consumer Prices (Inflation) and Sales in the Art Market
2000–2022. 
Figure 4.3. The Distribution of World Wealth in 2021.
Figure 4.4. Number and Wealth of Dollar Millionaires 2012–2021. 
Figure 4.5. Global Share of the Population of Dollar Millionaires in 2021.
Figure 4.6. Number and Wealth of Billionaires 2008–2021. 
Figure 4.7. Global Share of Billionaires in 2021.
Figure 4.8. Changes in Billionaire Wealth December 2020–December 2021.
Figure 4.9. HNW Collector Survey: Market Summaries.
Figure 4.10. HNW Collectors’ Allocation to Art in Overall Portfolio of Wealth in 2021.
Figure 4.11. Length of Time Collecting by HNW Collector Location.
Figure 4.12. Size of HNW Collector Collections (Number of Works) in 2021. 
Figure 4.13. Collection Content: Share of Works by Artist Status in 2021. 
Figure 4.14. Collection Content: Share of Male versus Female Artists’ Works in 2021.
Figure 4.15. Collection Content: Share of Works by Medium in 2021.
Figure 4.16. Share of HNW Collectors Having Purchased Art, Collectibles, and Luxury Assets in 2020 and 2021. 
Figure 4.17. Median Number of Purchases by HNW Collectors 2019–2021.
Figure 4.18. Median Value of Expenditure by HNW Collectors 2019–2021.
Figure 4.19. Share of HNW Collectors Spending over $1 million on Art and Antiques
by Wealth Level 2019–2021.

Figure 4.20. Median Expenditure by Male versus Female HNW Collectors 2019–2021.
Figure 4.21. Most Common Price Range for Purchasing Works of Art in 2021.
Figure 4.22. Share of HNW Collector Expenditure on Art by Medium in 2021.
Figure 4.23. HNW Collector Average Expenditure on Digital Art in 2021.
Figure 4.24. Share of Expenditure by HNW Collectors Who Bought NFTs in 2021.
Figure 4.25. HNW Collector Expenditure on NFTs by Generation in 2021.
Figure 4.26. Sales Channels used by HNW Collectors for Purchasing in 2021.
Figure 4.27. Use of Online Channels for Purchasing by Generation in 2021.
Figure 4.28. HNW Collectors’ Average Share of Expenditure by Channel in 2021 237
Figure 4.29. HNW Collectors’ First Preferences for Purchasing Art in 2021 238
Figure 4.30. Number of Galleries HNW Collectors Purchased from in 2021 239
Figure 4.31. Preferences of HNW Collectors for Local versus Overseas Galleries in 2022.
Figure 4.32. Share of Galleries that HNW Collectors Purchased From in 2021
by Gallery Focus.
Figure 4.33. HNW Collector Focus Regarding Galleries during 2021.
Figure 4.34. HNW Collector Focus Regarding Artists during 2021.
Figure 4.35. HNW Collector Profiles in 2021.
Figure 4.36. Share of HNW Collectors Having Resold Works from Their Collections in 2020 and 2021.
Figure 4.37. HNW Collector Motivations for Selling Works from their Collections.
Figure 4.38. Top 10 Concerns of HNW Collectors Regarding the Art Market in 2021.
Table 5.1. Outlook of HNW Art Collectors over the Short-, Medium-, and Long-Term.
Figure 5.1. HNW Collector Intentions for Purchases and Sales of Art by Generation
in 2022. 
Figure 5.2. HNW Collector Intentions for Purchases of Art by Medium in 2022.
Figure 5.3. Dealers’ Outlook for Sales in 2022.
Figure 5.4. Second-Tier Auction Houses’ Outlook for Sales in 2022.

Figure A1. Geographical Distribution of Respondents in 2021.
Figure A2. Share of Respondents by Reported Annual Turnover 2019–2021.
Figure A3. Age Profile of HNW Collectors Surveyed in 2021 (All Markets).
Figure A4. Wealth Level of HNW Collectors Surveyed in 2021 (All Markets).
___________________________________________________________________________________________

Digital Report - immediate delivery to your email.

Date of Publishing: 2021.
No. of Pages: 54.

Welcome to the tenth annual report on the global diamond industry, prepared by the Antwerp World Diamond Centre (AWDC) and Bain & Company. This year’s edition covers industry performance in 2019, effects of the Covid-19 pandemic in 2020 and an update on consumer preferences and attitudes. We also assess potential recovery scenarios in 2021 and beyond. 

The report begins with key developments along the value chain, including industry trends that were accentuated or accelerated by the global pandemic. We review factors that influenced rough diamond production and sales, midstream performance, and global diamond jewelry demand in major markets. We updated our long-term outlook for the diamond industry through 2030. The 2030 supply-demand forecast
considers announced production plans, recent changes in mining operations, potential additional sources of supply, expected changes in global and regional macroeconomic parameters, and potential impacts from labgrown diamonds.

___________________________________________________________________________________________

Contents:

1. Note to readers.
2.  Recent developments in the diamond industry.
3. Cutting and polishing.
4. Diamond jewelry retail.
5. Key industry trends and effects of Covid-19.
6. Updated supply and demand model.

Figure 1. Revenues across the value chain trended downward in 2019 and 2020.
Figure 2. Covid-19 had major implications across the value chain, but repositioned the industry.
Figure 3. Profit margins were devastated across the value chain, except in the C&P segment.
Figure 4. Impacts of Covid-19 caused rough diamond sales to decline –33%.
Figure 5. In 2020, upstream inventories increased by ~17%, mostly driven by supply chain.
Figure 6: A slower decline of polished diamond prices vs. rough diamond prices supported stronger margins for the midstream.
Figure 7. Prices for higher-quality polished diamonds have outperformed lower-quality diamonds over the past two years.
Figure 8. Diamond production has been decreasing by ~5% since it peaked in 2017, with a drop of ~20% in 2020.
Figure 9. Production value decreased by ~30% in 2020, driven by declines in rough prices and production.
Figure 10. South Africa was the only country with increased diamond production in 2020.
Figure 11. Russia, Canada and Botswana had the biggest production decreases in 2020
Figure 12: Medium and large diamonds accounted for ~25% of production in carats but nearly 70%–80% in value in US dollars. 
Figure 13: Reduced sales activity in the first half of 2020 put significant pressure on profitability, which is expected to improve by year end.
Figure 14. Covid-19-related restrictions resulted in ~26% reduction of C&P activities globally, with India recovering the fastest.
Figure 15. In India, net imports of rough diamonds decreased by 27% in 2019 and 23% in 2020; recovery began in Q3 2020.
Figure 16. Due to a significant decrease in rough diamond sales, midstream inventories returned to some of the lowest levels in a decade.
Figure 17. Diamond financing continued to decrease, aligning with reduced activity levels in 2020.
Figure 18: Consumers delayed discretionary spending during the pandemic, but diamond jewelry retail was less affected than the personal luxury market.
Figure 19. After single-digit growth in recent years, the global diamond market was materially impacted by the pandemic and economic downturn in 2020.
Figure 20. Despite challenges in 2019 and the first half of 2020, key markets are showing signs of recovery.
Figure 21. After a significant drop at the start of 2020, key diamond jewelry markets demonstrated recovery trends in the second half of the year.
Figure 22. In 2020, diamond jewelry outpaced other jewelry segments due to the relatively strong performance of luxury jewelry in Asia.
Figure 23. Luxury bridal and luxury non-bridal diamond jewelry were the top-performing categories in the diamond jewelry market.
Figure 24. Covid-19 shaped and accelerated key diamond industry trends.
Figure 25. Covid-19 impacted diamond jewelry purchasing via lockdowns and an economic recession and stimulated changes in consumer behavior.
Figure 26. The current economic crisis is expected to be deeper than the one in 2009.
Figure 27. Interest in diamond jewelry dropped for three months, then reverted to 2019 levels in July.
Figure 28. Most consumers plan to spend the same amount or more on diamond jewelry when the pandemic ends.Figure 29: Diamond jewelry recovery is expected in the next two to four years, with the market returning to its pre-pandemic level in 2022 or 2023.Figure 30. Diamond jewelry recovery depends on the epidemiology of Covid-19, government actions and consumer behavior.Figure 31. E-commerce experienced a major boost in 2020.
Figure 32. Consumer shopping preferences are slowly shifting to online, however, specialized brand stores remain the most popular channels.
Figure 33. Consumers would buy diamond jewelry online from trustworthy brands that offer additional discounts.
Figure 34. Digital is part of the purchasing experience for more than half of buyers; only 25%–35% of younger consumers make in-store purchases without it.
Figure 35. Covid-19 accelerated the convergence of online and offline channels, forcing retailers to retool the customer engagement experience for the new normal.
Figure 36. The diamond industry’s sustainability agenda is set by multiple stakeholders: consumers, international organizations, investors and local communities.
Figure 37. Between 60% and 70% of younger generations consider sustainability when making a purchase decision.
Figure 38. When purchasing diamond jewelry, sustainability concerns could be a deal-breaker for consumers.
Figure 39. Fair working conditions, conflict-free products, the environment and carbon footprint are the most important sustainability factors for consumers.
Figure 40. Across the value chain, industry players focused on green energy, sustainable water consumption and biodiversity.
Figure 41. Social efforts are focused on traceability, human rights and local community support.
Figure 42. Lab-grown diamond capacity is increasing across the globe; current production is around 6 to 7 million carats. 
Figure 43. Retail price discounts for lab-grown diamonds vs. natural diamonds have slightly increased in the past year.
Figure 44. However, lab-grown diamonds still evoke mixed associations; most consumers deem them artificial and affordable.
Figure 45. Consumers across key markets do not see substantial differences in sustainability between lab-grown and natural diamonds.
Figure 46. The lab-grown segment is developing rapidly due to technological advancements and rising acceptance across the value chain.
Figure 47. “Diamond engagement ring” searches show stability despite downward-trending marriage rates; however, overall interest in “diamond jewelry” is declining.
Figure 48. In India and China, jewelry remains one of the most desirable presents.
Figure 49.  Self-purchase emerged as a top reason to buy diamond jewelry in the US and China.
Figure 50. Diamond marketing is becoming more sophisticated as retailers and other players address both traditional and emerging pressures.
Figure 51.  New marketing strategies should focus on intangible values and personalized communications.
Figure 52. Marketing spending in the diamond industry is around 1%–2% of retail sales and lags marketing efforts in other industries.
Figure 53.The Natural Diamond Council re-launched generic marketing efforts with new focused campaigns.
Figure 54. Marketing messages about exclusivity and rarity disproportionally resonate with consumers, while origin and sustainability trends are quite new.
Figure 55. A number of important recent trends will influence the whole value chain’s future.
Figure 56. Covid-19 impacted key markets in the short term, but the industry’s long-term macroeconomic and consumption outlooks remain positive.
Figure 57. Long-term scenarios for natural rough diamond demand and supply rely on key assumptions.
Figure 58. The long-term outlook for real global GDP and PDI is positive; both are expected to grow at 3% per year despite the Covid-19 recession.
Figure 59. Middle class and high-net-worth household growth in China and India will reinforce positive long-term demand.
Figure 60. Supply is expected to be almost flat over the next 10 years, with very few new projects coming online.
Figure 61. The supply-demand outlook is moderately optimistic.

___________________________________________________________________________________________

 

 

 

 

 

 

 

 

 

 

 

 

Digital Report - immediate delivery to your email.

Date of Publishing: February, 2022.
No. of Pages: 29.

Following rocky conditions in 2020, the diamond industry proved to be brilliant and resilient, and delivered a spectacular showing in 2021. Every sector of the diamond industry performed very well in 2021 and emerged from the Covid-19-induced crisis well-positioned for future growth. In 2020–21, the diamond industry invested heavily in technology to gain operational efficiency, create marketing and consumer experiences that attracted buyers, and accelerate e-commerce schemes. Even smaller mom-and-pop retailers added online sales platforms to reach consumers who couldn’t shop in person or travel due to government-instituted health measures.

And consumers were ready to spend. They were flush with cash from buoyant capital markets and economic stimulus programs, and eager to spend it on meaningful gifts for their loved ones (or rewards for themselves). Diamonds hit an emotional chord, which had been carefully cultivated by years of targeted marketing campaigns and storytelling. Diamond jewelry was also easier to access than other luxury and experience-based spending options.

Strong retail demand for diamond jewelry drove up prices and profit margins along the value chain. As rough diamond sales increased, miners increased production volumes and pulled from inventories to keep cutters and polishers busy. Healthy demand and price recovery for polished diamonds helped the midstream achieve decade-high margins.

In 2021, the industry had a renewed sense of value, which it answered through partnerships, consolidation, and technology. Now, every player along the value chain must add value—or remove hardship—on the path from mine to market.

___________________________________________________________________________________________

Contents:

1. Foreword.
2. Recent developments in the diamond industry.
3. Rough diamond production.
4. Cutting and polishing. 
5. Diamond jewelry retail. 
6. Midterm forecast.

Figure 1: Across the value chain, revenues recovered in 2021 and exceeded pre-pandemic levels.

Figure 2: Profit margins recovered in every segment. Combined, the mining and retail segments generated $7 billion more in profit compared to 2020.

Figure 3: Rough diamond sales rebounded more than 60% in 2021, surpassing pre-pandemic levels.

Figure 4: Rough and polished prices reached the historic average in 2021 but lagged behind industry peaks.

Figure 5: Prices for higher-quality polished diamonds continue to outperform lower-quality diamonds.

Figure 6: Production increased 5% in 2021 but is below pre-pandemic levels, limiting rough diamond supply.

Figure 7: Australia was the only major diamond-producing country with a production decline in 2021, driven by the permanent closure of its only mine.

Figure 8: Russia, Canada, and Botswana had the biggest production growth in 2021.

Figure 9: Upstream inventories declined ~40%, driven by high demand and slow production recovery, and are near the minimal technical level.

Figure 10: Major players almost fully recovered profitability in 2021.

Figure 11: As Covid-19 restrictions eased, cutting and polishing activities surged 84% globally; India grew fastest at 94%.

Figure 12: In India, net imports of rough diamonds increased 49% and net exports of polished diamonds rose 15% compared to 2019 pre-pandemic levels.

Figure 13: In 2021, consumer discretionary spending increased, boosting personal luxury and diamond jewelry sales.

Figure 14: The global diamond market was materially impacted by the pandemic and economic downturn in 2020 but recovered at double-digit rates in 2021.

Figure 15: Online searches of diamond jewelry were higher than pre-pandemic levels throughout the first nine months of the year.

Figure 16: Despite the downturn in 2020, key markets grew dramatically in 2021 and exceeded 2019 results.

Figure 18: In 2021, diamond jewelry outpaced most other jewelry segments, thanks to strong performances in Asia and the US.

Figure 19: In 2021, the share of e-commerce sales continued to grow in the US and China.

Figure 20: Large retailers experienced multiyear-high EBIT margins in H1 2021.

Figure 21: Several new drivers will influence the diamond market in the short- to midterm.

Figure 22: H1 2022 is expected to be strong; then two recovery scenarios are possible.

Figure 24: Players across the value chain should be prepared for short- and midterm market readjustments.

Figure 25: To sustain demand, diamond jewelry marketing must capture more Elements of Value.

___________________________________________________________________________________________

Digital Report - immediate delivery to your email.

Date of Publishing: October 2020.
No. of Pages: 45.
Language: English.

What is the concept of a digital ruble? What are its role and place in today’s monetary system? How can it help individuals, businesses, and society in general? What aspects are to be taken into consideration in the course of its implementation? A digital ruble will remain the Russian ruble which will be issued by the Bank of Russia in digital form in addition to the existing forms of money. Individuals will be able to transfer digital rubles to their electronic wallets and use them through their mobile and other devices both online and offline (that is without access to the Internet and mobile communication). A digital ruble will be an additional form of money and will be used alongside individuals’ and businesses’ cash rubles and funds in their commercial bank accounts. Depending on their needs, individuals and companies will be able to exchange their money from one form to another, i.e. from the digital form to cash or noncash funds in their bank accounts, and back. This requires special-purpose technologies that would enable the offline usage of a digital ruble. A digital ruble will combine the advantages of both cash and non-cash money.

___________________________________________________________________________________________

Contents:

1. THE ROLE OF A DIGITAL RUBLE IN MONEY CIRCULATION
1.1. A digital ruble as a form of money.
1.2. The Bank of Russia’s approach to developing a digital ruble.
2. APPLICABILITY OF A DIGITAL RUBLE.
2.1. Pre-requisites, consumer qualities and conditions of use of a digital ruble.
2.2. A digital ruble for households.
2.3. A digital ruble for businesses.
2.4. A digital ruble for government payments.
2.5. A digital ruble for capital markets and financial innovations.
2.6. Certain AML/CFT/CFPWMD issues.
2.7. Protection of digital ruble owners.
3. THE IMPORTANCE OF A DIGITAL RUBLE FOR THE CENTRAL BANK’S
POLICY TO MAINTAIN PRICE AND FINANCIAL STABILITY.
3.1. A digital ruble and monetary policy.
3.2. A digital ruble and financial stability.
4. MODELS AND MECHANISMS FOR IMPLEMENTING A CENTRAL BANK
DIGITAL CURRENCY.
4.1. Models of a central bank digital currency.
4.2. Mechanisms for the technical implementation of a CBDC.
4.3. Confidentiality.
5. INFORMATION SECURITY.
6. LEGISLATIVE AND REGULATORY CHANGES REQUIRED TO IMPLEMENT
A DIGITAL RUBLE.
7. APPENDIX. INTERNATIONAL DISCUSSION ON CENTRAL BANK
DIGITAL CURRENCIES.
TOPICS FOR PUBLIC DISCUSSION.
GLOSSARY.
ABBREVIATIONS.
REFERENCES.

___________________________________________________________________________________________

Digital Report - immediate delivery to your email.

PDF-friendly

Date of Publishing:  November, 2023
No. of Pages: 51

На сегодняшний день ИИ уже широко используется участниками российского финансового рынка в различных бизнес-процессах: для взаимодействия с клиентами, управления рисками, аналитики, мониторинга и совершения операций и так далее. При этом потенциал дальнейшего расширения использования ИИ финансовыми организациями представляется значительным. ИИ может повышать эффективность финансовых организаций и качество оказываемых ими услуг.

______________________________________________________________________________________________

Оглавление:

1. Ключевые тезисы.

2. Определение и основные технологии искусственного интеллекта.

3. Глобальные тренды развития искусственного интеллекта.

4. Применение технологий искусственного интеллекта на финансовом рынке.

5. Условия развития искусственного интеллекта на российском финансовом рынке.

6. Риски искусственного интеллекта на финансовом рынке.

7. Подходы к регулированию искусственного интеллекта. 

8. Зарубежный опыт регулирования искусственного интеллекта.

9. Подходы к регулированию искусственного интеллекта на российском финансовом рынке. 

10. Вопросы для общественного обсуждения. 

______________________________________________________________________________________________

REPORT IN RUSSIAN, PDF FRIENDLY

Digital Report - immediate delivery to your email.

Date of Publishing: 2025.
No. of Pages: 24

The digital ruble, going beyond a simple payment instrument, opens up opportunities for transforming key processes in the economy. Its use can increase the speed, transparency and security of financial transactions. The potential of the digital ruble can be considered in the context of several key aspects: innovations in financial technologies, increased efficiency of financial management at the state level, financial accessibility, and as a new generation payment instrument for cross-border settlements.

TABLE OF CONTENTS
Introduction
1. The digital ruble as the next stage in the evolution of money.
1.1. Goals and objectives of introducing the digital ruble.
1.2. Potential of the digital ruble.
1.3. The Bank of Russia digital ruble model.
1.4. Legal regulation.
1.5. The impact of the digital ruble on monetary policy and financial stability.
2. Pilot project of the digital ruble.
2.1. Project milestones.
2.2. Pilot objectives and tasks.
2.3. Current status of the pilot. Achieved results.
2.4. Issues identified during the piloting process.
2.5. Development of the digital ruble platform functionality.
3.   Technological platform and infrastructure.
3.1. Digital ruble platform architecture.
3.2. Security and data protection mechanisms.
4.    Prospects and next steps.

 

Цифровой рубль, выходя за рамки простого платежного инструмента, открывает возможности для трансформации ключевых процессов в экономике. Его использование способно повысить скорость, прозрачность и безопасность финансовых операций. Потенциал цифрового рубля можно рассматривать в разрезе нескольких ключевых аспектов: инноваций в финансовых технологиях, повышения эффективности управления финансами на государственном уровне, финансовой доступности, а также в качестве платежного инструмента нового поколения для трансграничных расчетов.

ОГЛАВЛЕНИЕ
Введение
1.     Цифровой рубль как следующий этап эволюции денег.
1.1. Цели и задачи внедрения цифрового рубля.
1.2. Потенциал цифрового рубля.
1.3. Модель цифрового рубля Банка России.
1.4. Правовое регулирование.
1.5. Влияние цифрового рубля на денежно-кредитную политику
и финансовую стабильность.
2.     Пилотный проект цифрового рубля.
2.1. Вехи проекта.
2.2. Цели и задачи пилота.
2.3. Текущий статус пилота. Достигнутые результаты.
2.4. Вопросы, выявленные в процессе пилотирования.
2.5. Развитие функциональных возможностей платформы цифрового рубля.
3.     Технологическая платформа и инфраструктура.
3.1. Архитектура платформы цифрового рубля.
3.2. Механизмы безопасности и защиты данных.
4.     Перспективы и дальнейшие шаги.

Digital Report - immediate delivery to your email.

REPORT IN RUSSIAN LANGUAGE.

Date of Publishing: 2023.
No. of Pages: 44.

Оглавление:

1. Международная повестка.

2. Текущее состояние и проблемы рынка ESG-рейтингов.

3. Предполагаемый подход Банка России к гармонизации ESG-рейтингов.

Приложение: Рекомендации по разработке методологии и присвоению ESG-рейтингов.

Digital Report - immediate delivery to your email.

RUSSIAN LANGUAGE

Date of Publishing: December 2021
No. of Pages: 38

В фокусе Основных направлений 2022 – 2024 годов – дальнейшее развитие конкуренции на финансовом рынке, повышение доступности, качества и ассортимента финансовых услуг, снижение рисков и издержек в финансовой сфере, повышение уровня конкурентоспособности российских технологий при одновременном обеспечении кибербезопасности и поддержании финансовой стабильности. Реализация Основных направлений 2022 – 2024 годов будет осуществляться Банком России во взаимодействии с государственными органами, участниками финансового рынка и иными организациями.

___________________________________________________________________________________________

1. Введение
2. Итоги реализации Основных направлений развития финансовых технологий на период 2018 – 2020 годов.
3. Международные тренды.
4. Трансформация потребностей и поведения клиентов.
5. Формирование экосистем финансовых и нефинансовых сервисов.
6. Применение открытых API в финансовых и нефинансовых секторах экономики.
7. Повсеместное применение технологий.
8. Ужесточение регулирования криптовалют и развитие цифровых валют центральных банков.
9. Усиление операционных рисков и рисков в области информационной безопасности.
10. Уровень цифровизации финансового рынка в России.
11. Приоритеты развития рынка финансовых технологий для участников рынка.
12. Цели и основные направления цифровизации финансового рынка на 2022 – 2024 годы.
13. Развитие регулирования.
13.1. Развитие правового обеспечения Цифрового профиля.
13.2. Развитие правового обеспечения национальной платежной системы.
13.3. Развитие регулирования системы «Маркетплейс».
13.4. Регулирование открытых API.
13.5. Развитие регулирования в области оборота данных.
13.6. Правовое обеспечение создания Единой информационной системы проверки сведений об абоненте.
13.7. Развитие правового обеспечения экспериментальных правовых режимов.
13.8. Создание правовых условий для электронного хранения документов.
13.9. Регулирование экосистем.
13.10. Развитие регулирования цифровых финансовых активов и краудфандинга.
13.11. Правовое обеспечение цифрового рубля.
13.12. Правовое обеспечение создания сервиса Знай своего клиента.
13.13. Совершенствование законодательства в целях цифровизации исполнительного производства.
13.14. Совершенствование законодательства в целях цифровизации страховой медицины.
14. Реализация инфраструктурных проектов.
14.1. Развитие Единой биометрической системы.
14.2. Развитие инфраструктуры Цифрового профиля.
14.3. Развитие Системы быстрых платежей.
14.4. Развитие Национальной системы платежных карт.
14.5. Развитие системы «Маркетплейс».
14.6. Развитие открытых API.
14.7. Создание платформы коммерческих согласий.
14.8. Цифровизация ипотеки.
14.9. Разработка и пилотирование платформы цифрового рубля.
14.10. Создание сервиса «Знай своего клиента».
14.11. Цифровизация платежей и начислений ЖКХ.
14.12. Цифровизация исполнительного производства.
14.13. Цифровизация страховой медицины.
15. RegTech, SupTech.
16. Экспериментальные правовые режимы.
17. Информационная безопасность.
17.1. Обеспечение возможности использования сервиса облачной УКЭП участниками финансового рынка.
17.2. Обеспечение всех поднадзорных организаций УКП
17.3. Формирование среды доверия при удаленном предоставлении финансовых услуг и сервисов.
17.4. Снижение уровня потерь по операциям, совершаемым с использованием дистанционных каналов обслуживания, включая социальную инженерию.
17.5. Внедрение института киберучений как основного механизма стресс-тестирования при осуществлении надзора в части оценки киберрисков.
17.6. Развитие информационного обмена ФинЦЕРТ с участниками кредитно-финансовой сферы в части противодействия компьютерным атакам.

___________________________________________________________________________________________

Digital Report - immediate delivery to your email.

Date of Publishing: 2025.
No. of Pages: 225.

The Art Market 2025 presents the findings of research on the global art and antiques market in 2024. The information presented in the report is based on data gathered and analyzed by Arts Economics from dealers, auction houses, collectors, art fairs, art and financial databases, industry experts, and others involved in the art trade. (The Appendix offers an outline of the main data sources used in the report.)

______________________________________________________________________________________________

Contents:

1. The Global Art Market 2024
1.1 Overview of Global Sales
1.2 Regional Market Performance
1.3 Online Sales
Exhibit 1. The Art Trade in a ‘Zero Sum’ World
Exhibit 2. The NFT Market and Preserving Digital Art

2. Dealers
2.1 The Dealer Sector in 2024
2.2 Dealer Sales
2.3 Artist Representation
2.4 Dealer Costs and Margins
2.5 Buyers
2.6 Sales Channels and Art Fairs
2.7 Exhibitions and Fairs
2.8 Online Sales
2.9 Dealers’ Challenges and Priorities
Exhibit 3. The Art of Timing: Strategic Shifts in Fair Acquisitions

3. Auction Houses
3.1 The Auction Sector in 2024
3.2 Top-Tier Auction Houses
3.3 Mid-Tier Auction Houses
3.4 Price Segmentation in Fine Art at Auction
3.5 Fine Art Sectors
3.6 Post-War and Contemporary Art
3.7 Modern Art
3.8 Impressionism and Post-Impressionism
3.9 Old Masters and European Old Masters
Exhibit 4. The Art of Indexing: Quantifying Creativity in the Financial World

4. Outlook
4.1 Outlook for 2025
4.2 A Note on Wealth
4.3 Outlook of the Art Trade for 2025
Exhibit 5. Economic Perspective from UBS
______________________________________________________________________________________________

DURATION:  ONLINE

VIRTUAL DELIVERY: ZOOM / TEAMS.

You are able to access virtual courses from any location. 

INDIVIDUALLY / GROUPS.

Fundamentals of Corporate Credit Analysis provides a solid foundation of best practice tools and techniques for fundamental credit analysis.

The course concentrates on single obligor analysis, both qualitative and quantitative. The topics covered enable credit practitioners to review real market situations and assess cash flow and credit implications.

The course begins by introducing credit risk, its components and its drivers. The course then dives into business risk assessment and group structure risks. After examining financial statements, including accounting concepts and principles, the course concludes with a review of financial analysis and its four main risk areas.

WHO SHOULD ATTEND? – Business owners, relationship managers, credit risk analysts, lending officers, investment bankers, students.

BY THE END OF THIS COURSE, YOU WILL BE ABLE TO: 

• Apply a structured approach to corporate credit risk assessment.
• Calculate and interpret key financial ratios used in the credit rating process.
• Interpret financial statements for their effectiveness, relevance and vulnerability.
• Define key business risks (country, industry, market, consumer).
• Use data bases and public resources related to credit risk.
• Preparation of Credit Memorandum.

Contact us at info@redline-analytics.com to get more details.

Digital Report - immediate delivery to your email.

Date of Publishing: August, 2020.
No. of Pages: 13.

Several private companies are developing plans to take paying customers to space on a regular basis.

Before boarding a rocket to space, or even just to the edge of space, passengers are required to sign a waiver acknowledging known risks of spaceflight. However, aerospace medical experts recognize many health risks associated with spaceflight are still not well understood, and very little research has been done on medical consequences of such flights on the health of untrained participants.

___________________________________________________________________________________________

Contents

1. Introduction.
2. History and Development of a Space Tourism Sector.
 - New Entrants
- Accommodations in Orbit .
3. Regulating Space Tourism.
- Federal Aviation Administration Oversight Responsibilities.
- Interagency Medical Standard Recommendations.
- Medical Concerns for Spaceflight Participants.
- 7 “G” Forces.
- Oxygen Deprivation and Effects of Fluid Redistribution. 
- Vestibular Complications.
- Training Guidelines.
- Insurance and Liability Issues. 
4. Accident Investigation. 
5. Considerations for Congress.
6. Contacts Author Information.

___________________________________________________________________________________________

Digital Report - immediate delivery to your email.

Date of Publishing: 2025.
No. of Pages: 175.

Space today is a transformed domain. Cutting-edge technologies and emerging commercial capabilities are creating new opportunities for space operations and exploration. At the same time, our nation faces serious challenges that must be addressed, from rapidly evolving adversary capabilities that threaten our security to complex issues involving things like space sustainability and the industrial base. 

______________________________________________________________________________________________

Contents:
Introduction. Framing Space Agenda Through Strategic Foresight.
1. Strengthening Leadership and Competitiveness.
1.1. Strengthening the Industrial Base to Deliver Proliferated Defense Space Systems.
1.2. ‘Our Most Vital Assets’: Space Ground Infrastructure and U.S. Foreign Relations.
1.3. Space-Enabled Capabilities for Connecting and Collaborating in the Arctic.
The Next Space Security Norm.
1.4. Strengthening a Solid Foundation: U.S. Advantages from Commercial Space.
1.5. Why Transforming the Budget Structure Would Benefit Defense Space.
2. Catalyzing Commercial Space
2.1. Anticipating the New European Union Space Law.
2.2. Leverage and Preserve: Need for DOD to Strengthen Support for U.S. Commercial Space.

2.3. Russia's War in Ukraine.

2.4. Space Regulatory Reform.

2.5. Understanding Value and Performance in Space Economy.

3. Charting Future Value.

3.1. Key Spectrum Issue for Space.

3.2. Space Sustainability in the context of  Contested Space.

3.3. Commercial Space Stations and the ISS.

3.4. International Aspirations in Cislunar Space.

______________________________________________________________________________________________

 

Digital Report - immediate delivery to your email.

Date of Publishing: 2023.
No. of Pages: 438.

______________________________________________________________________________________________

Contents:

1. Wealth and the global art market.

2. Art & Wealth Management Survey.

3. Art wealth protection, estate planning and philanthropy.

4. Culture & social impact investment and sustainability.

5. Art secured lending.

6. Art and investment.

7. Art and technology.

8. Risk Management and regulation.

9. Conclusion.

______________________________________________________________________________________________

Digital Report - immediate delivery to your email.

Date of Publishing: 2021
No. of Pages: 313

The recent trends and developments covered in this report indicate that art and finance industry will thrive from new innovations and technological advancement and adoption in the next 5 years, as well as a growing interest in art and collectibles. On a more macro level, there are strong signs that art and culture could become a key driver for socio-economic growth and help address many of our societal issues and challenges. This could open the art and cultural sector to a far broader spectrum of financial services, such as the growing market for impact investments, cultural bonds and new philanthropy models, which are underpinned by technology.

___________________________________________________________________________________________

Contents:
1. Introduction.
1.1. Key Report Findings 2021.
1.2. Priorities.
1.3. The Big Picture.
2. Wealth and The Global Art Market.
2.1. Highlights.
2.2. Introduction.
2.2.1. Art and Collectible Walt Review.
2.2.2. Global Art Market Review.
3. Art Wealth Protection, Estate Planning and Philanthropy.
3.1. Highlights.
3.2. Introduction.
3.2. Art and Wealth Protection.
3.3. Art and Estate Planning and Philanthropy.
4. Culture and Social Impact Investment and Sustainability.
4.1. Highlights.
4.2. Introduction.
4.2.1. Global Shifts in Sustainability.
4.2.2. CCS and Sustainable Impact Investment.
4.2.3. Reinventing Smart Cities Through Culture.
5. Art-Secured Lending.
5.1. Highlights.
5.2. Introduction
5.3. Size and Structure of the Art Lending Market.
5.4. Survey Findings 2021.
6. Art and Investment.
6.1. Highlights.
6.2. Introduction.
6.2.1. A Post-pandemic Look at the Performance of Art as an Asset Class.
6.2.2. Survey Findings 2021.
6.2.3. New Developments: Art Investment Products and Services.
7. Art and Technology.
7.1. Highlights.
7.2. Introduction.
7.2.1. Survey Findings 2021 - Technology.
7.2.2. Blockchain and Tokenization.
7.2.3. Data and Technology Ecosystem.
8. Risk Management and Regulation.
8.1. Highlights.
8.2. Introduction.
8.2.1. Survey Findings 2021.
8.2.2. Regulation - A Focus on AML Efforts.
8.2.3. Risk Management Legal and Regulatory Developments.

___________________________________________________________________________________________

 

Digital Report - immediate delivery to your email.

Date of Publishing: 2023.
No. of Pages: 26.

The banking system was subjected to significant forces in 2022, including inflation, rising interest rates, equity and bond market declines, plunging cryptocurrency prices, consequences (political, trade, economic) of the Russia-Ukraine conflict, lingering effects of the COVID pandemic, and—to at least some extent—the reemergence of consumers from pandemic isolation.

_____________________________________________________________________________________________

Contents:

1. ‘Still work to do’ to meet core and emerging supervisory expectations.

2. Responding to forces of innovation.

3. Fortifying governance and controls as part of core safety and soundness.

3.1. Data governance and reporting.

3.2. Cyber and information technology (IT) risk.

3.3. Bank Secrecy Act (BSA)/anti-money laundering (AML) and sanctions.

3.4. Consumer protection and financial inclusion.

4. Expanding the scope of financial risk management.

4.1. Capital.

4.2. Liquidity.

4.3. Climate-related financial risk.

5. Looking forward to an active 2023.

6. Endnotes.

_____________________________________________________________________________________________

Digital Report - immediate delivery to your email.

Date of Publishing: September, 2020.

Appendix A - Industry-Specific Insights
Appendix B - Entities Reporting Under IRS Standards.
Appendix C - Deloitte Contacts and Acknowledgements.
Appendix D - Questions in DG Topic 9 and 9A.
Appendix E - Summary of Changes.

___________________________________________________________________________________________

 

Digital Report - immediate delivery to your email.

Date of Publishing: March, 2021.
No. of Pages: 179.

This guide has been prepared by EY Russia to give the potential investor an insight into Russia and its economy and tax system, provide an overview of forms of business and accounting rules and answer questions that frequently arise for foreign businesses. Russia is a fast-developing country and is committed to improving the investment climate and developing a better legal environment for doing business. On the one hand, this makes doing business in Russia an attractive prospect; on the other, it can make for difficult decisions both when starting a business and further down the line.

___________________________________________________________________________________________

Contents:

1. Welcome to Russia.
2. General Business Information.
- Public holidays.
* The Russian legal system.
- The court system.
- Registration, certification and disclosure.
- Registration of rights in real estate.
- Corporate law LLCs vs JSCs.
- Contract law.
* The financial system.
- Banking system.
- FATCA implementing legislation.
- Automatic exchange of tax information (CRS).
- Basic principles of Russian securities regulation.
* Currency control.
- General principles.
- Currency control restrictions for Russian residents.
- Liability for violation of currency law.
* Competition law.
- Merger control.
- Abuse of dominance.
- Anti-competitive agreements, concerted actions and illegal coordination.
- Unfair competition.
- State aid.
- Trade law.
- The Eurasian Economic Union.
* Licensing.
- Permits for certain activities. 
- Licenses for subsurface access.
- Environmental permits.
- Recycling requirements.
* Data protection and privacy.
- Regulation of the digital sphere.
- Investment platforms (crowdfunding).
- Financial platforms (marketplaces).
- Digital financial assets (tokens) and related information systems.
- Cryptocurrency.
* Sanctions and restrictive measures.
3. Tax System.
- Tax rates.
- Penalties for late payment and tax filing violations.
- Corporate Profits Tax.
- Taxpayers.
- Tax year.
- Russian legal entities.
- Rates.
- Tax base.
- Taxable income.
- Exempt income.
- Tax-deductible expenses.
- Unjustified tax benefit.
- Interest.
- Depreciation.
- Investment tax credit.
-Expenses subject to special rules.
- Loss carry-forward.
- Dividend income.
- Capital gains and losses.
- Tax reporting and payment.
- Tax accounting.
- Foreign companies operating through a branch or representative office (FLEs).
- Tax compliance requirements.
- PE risk for profits of an FLE attributable to its Russian business.
4.  Real Estate Transaction Costs and Taxes Sale of real estate via an asset deal.
- Sale of real estate via a share deal. 
5.  Tax Control Tax audits.
- Administration of major taxpayers.
- Digital tax control.
- Tax Monitoring.
- Hot trends.
6. Value Added Tax (VAT) Taxpayers.
- Registration.
- Taxable operations.
- Place of supply of goods and services.
- Rates.
- Non-taxable supplies.
- Time of supply.
- Calculation of VAT.
- Recovery of VAT by taxpayers.
- Tax reporting and payment.
- Imported goods.
- Withholding of VAT on purchases from foreign legal entities.
- VAT on e-services.
- VAT and the EAEU.
7.  Corporate Property Tax Taxpayers.
- Tax base.
- Tax rate.
- Tax reliefs.
- Tax reporting.
8. Other Taxes Excise duty.
- Transport tax.
- Mineral extraction tax.
- Additional income tax on hydrocarbon production.
- Other taxes and duties.
9. International Taxation Matters Taxation of Russian-source income of FLEs without a PE in Russia.
- Treaty relief.
- Foreign tax relief.
- MLI.
10. “Deoffshorization” Measures CFC rules.
- The concept of Russian tax residence for foreign companies.
 - The beneficial ownership concept.
- Special administrative districts.
11. Tax Treatment of Company Reorganizations.
12. Customs Overview.
- Eurasian Economic Union of Russia, Belarus, Kazakhstan, Armenia and Kirgizia. 
- Import duties.
- Export duties.
- Customs value.
- Customs coding.
- Customs procedures.
- CIS free trade regime.
- Free trade with other countries.
- Tariff preferences for goods originating from developing and/or least developed countries.
- Import permissions. 
13. Transfer Pricing Overview. 
- Scope of TP control.
- TP methods.
- Documentation requirements.
- TP audits.
- Penalties. 
- Penalty relief.
- Advance pricing agreements. 
- Mutual Agreement Procedure.
14. Investment Promotion Measures Special economic zones (SEZs) 125 Special investment contracts (SPICs).
- Regional investment projects (RIPs).
- Investment protection and promotion agreement (IPPA). 
15. Offshore Oil and Gas Developments.
16. Financial Reporting and Auditing Sources of accounting principles.
- Applicability of IFRS for consolidated financial statements of public companies in Russia.
- Significant accounting concepts for investors.
- Disclosure, reporting and filing requirements.
17. Individuals Personal income tax.
- General 143 Who is liable?
- Definition of resident.
- Object of taxation
- Tax rates.
- Tax collection procedure.
- Capital gains and losses. 
- Tax deductions. 
* Immigration. 
- Highly Qualified Specialists (HQS).
- Submission of forecasts of foreign labor needs (quota applications).
- Work permits. 
- Work visas.
- Notifications. 
- Registration and deregistration.
- Sanctions for non-compliance with immigration legislation.
- Mandatory notification of second citizenship. 
- Liability. 
* Social security.
- Exemptions.
- Social contribution rates.
- Workplace accident insurance.
- Russian labor law.
- Sanctions for non-compliance.
18. Appendices
Appendix 1: Useful addresses and telephone number.
Appendix 2: Exchange rates (as of year’s end).
Appendix 3: Treaty withholding tax rates.
Appendix 4: Blacklist of jurisdictions approved by the Ministry of Finance.
Appendix 5: Blacklist of jurisdictions approved by the Federal Tax Service.
Appendix 6: Compliance calendar 172 EY in the CIS 179.

Digital Report - immediate delivery to your email.

Date of Publishing: February, 2022.
No. of Pages: 40.

This paper is the first step in a public discussion between the Federal Reserve and stakeholders about central bank digital currencies (CBDCs). For the purpose of this paper, a CBDC is defined as a digital liability of a central bank that is widely available to the general public. In this respect, it is analogous to a digital form of paper money.  

_____________________________________________________________________________________________

Contents

1. Key Topics.

2. Public Outreach.

3. Introduction.

4. The Existing Forms of Money.

5. The Payment System. 

6. Recent Improvements to the Payment System.

7. Remaining Challenges for the Payment System.

8. Digital Assets.

9. Central Bank Digital Currency. 

10. Uses and Functions of a CBDC.

11. Potential Benefits of a CBDC. 

12. Potential Risks and Policy Considerations for a CBDC. 

13. Seeking Comment and Next Steps. 

14. CBDC Benefits, Risks, and Policy Considerations.

15. CBDC Design. 

16. Appendix A: Federal Reserve Research on Digital Currencies. 

17. Technological Experimentation.

18. Economic and Policy Research. 

19. Stakeholder Engagement and Outreach. 

20. International Collaboration. 

21. Central Bank Money.

22. Commercial Bank Money. 

23. Nonbank Money.

_____________________________________________________________________________________________

Digital Report - immediate delivery to your email.

Date of Publishing: 2023.
No. of Pages: 16.

For colored diamonds, the aspect of color far outweighs the other “C’s” (clarity, cut, and carat weight) in the determination of value. Therefore, it is critical to understand the relationship of color appearances that affect color grades and descriptions. For most people, color is an intuitive response rather than a true knowledge of the systematic ordering of color appearances. Both, however, are crucial when the romance of color also becomes the business of color. GIA has developed this booklet of color reference charts to help the diamantaire, retailer, and consumer understand the ways in which diamond color appearances transition and relate. Color is described using three attributes: hue (the appearance of red, blue, green, or anything in between), tone (the relative lightness or darkness of a color), and saturation (the relative strength or weakness of a color). The color appearance of a gem is the result of a combination of these three attributes. By standardizing the organization of these three attributes, a color’s appearance can be located in color space. The manner in which GIA organizes color is reflected in the tone/saturation charts in this booklet. Understanding this organization will help the reader grasp the relationship of GIA’s color grades and descriptions.

___________________________________________________________________________________________

Contents:

1. Introduction.

2. Hue Circles.

2.1. Continuous.

2.2. Lighter Tone.

2.3. Darker Tone.

3. Diamond Color Reference Charts.

3.1. Yellow (Cooler). 

3.2. Yellow (Warmer).

3.3. Orange-Yellow.

3.4. Yellow-Orange.

3.5. Orangy Pink.

3.6. Pink.

3.7. Purplish Pink.

3.8. Blue.

3.9. Yellow-Green.

_____________________________________________________________________________________________ 

 

 

 

Digital Report - immediate delivery to your email.

Date of Publishing: 2023.
No. of Pages: 18.

Natural Fancy white and Fancy black diamonds are not routinely submitted to GIA for grading (fewer than 2,000 since 2008). These fancy-color diamonds are distinctive since the causes of color generally are not atomic-scale defects, but nanometer- to micrometer-sized inclusions that reduce the diamond’s transparency by scattering or absorbing light (some exceptions exist among Fancy black diamonds). To clarify, Fancy white diamonds are those rare stones colored by inclusions that give a “whitish” appearance, and are distinct from “colorless” diamonds on the D-to-Z scale. These two colors, often thought of as opposites in the color world, are grouped here as outliers within the colored diamond world. Both can be colored by inclusions so numerous the stone would fall below the I3 grade on the clarity scale, demonstrating that inclusions, often perceived as a negative quality factor, can create a distinctive appearance. Among the Fancy white diamonds examined for this study, the vast majority (82%) were type IaB, making them a rare subset of a rare diamond type. Based on prior geological research, these are surmised to be mostly sublithospheric in origin (i.e., forming more than 250 km below the earth’s surface). The Fancy white diamonds generally have a different chemistry from D-to-Z type IaB diamonds, with greater quantities of several hydrogen- and nickel-related defects. Among Fancy black diamonds, the major causes of color are either micrometer-sized dark crystal inclusions, nanometer-sized inclusions clustered into clouds, or a combination of the two. For these two colors of diamond, we summarize their gemological properties along with the absorption and luminescence spectra of a representative subset of diamonds from each color, examining how they deviate from the standard grading methodology. Because of their rarity, there has been very little systematic study of either of these color categories, and never a sample set of this quantity, which includes data for ~500 Fancy white and ~1,200 Fancy black diamonds.

_____________________________________________________________________________________________

Contents:

1. Causes of Color.

2. Spectroscopy.

3. Gemological Observations.

_____________________________________________________________________________________________

Digital Report - immediate delivery to your email.

Date of Publishing: December 2022.
No. of Pages: 22.

Air transport makes an important contribution to global economic development. The wider economic benefits of the industry reflect a combination of the rise in connectivity between countries and cities – enabling the flow of goods, people, capital, technology, and ideas – as well as the long-term trend decline in real air transport costs which underpins these flows. The impact of Covid-19 saw an abrupt and massive decline in connectivity in 2020, with the number of unique city pairs falling by 30% or more than 6,500 routes. The recovery since that time has been more subdued, as travel restrictions have gradually been removed and routes re-opened around the world. To date, domestic air connectivity has recovered to around 89% of its pre-COVID level and international connectivity is currently at around 68% of the level of 2019. The gap between the two is closing, reflecting the broader re-opening of international routes over the course of this year. Despite the observed recovery in the number of city pair routes, it is important to note that at least initially, the frequency on those routes is unlikely to be immediately restored to pre-pandemic levels. In other words, the return of capacity will lag the recovery in the absolute number of city-pair connections. 

_____________________________________________________________________________________________ 

Contents:

1. The Big Picture.

2. Significant headwinds.

3. Oil.

4. Inflation.

5. Central banks.

6. The strength of the US dollar.

7. Recent Trends in Air Transport.

8. The Outlook for Air Transport.

9. Industry Financial Performance.

10. Underlying assumptions.

11. Consumers.

12. The wider economy.

13. Capital providers.

14. Labor.

15. Fuel.

_____________________________________________________________________________________________

16. Regions.

17. Risks.

DURATION:  SATURDAYS, 10AM – 11AM EST Timezone (NY)

VIRTUAL DELIVERY: ZOOM / TEAMS. You are able to access virtual courses from any location.

Doing your taxes online is a breeze with TurboTax easy-to-use filing software. We will guide you through each step of the process to get you the refund you deserve.

The one-hour class will concentrate on the preparation Federal and State Income Tax for individuals.

WHO SHOULD ATTEND? – individuals, accountants, students.

BY THE END OF THIS COURSE, YOU WILL BE ABLE TO: 

• Prepare Federal and State Income Tax Return for individuals.
• Perform a thorough interview with a taxpayer.
• Use TurboTax software.

Please contact us at info@redline-analytics.com to get more details.