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The power of Taylor Swift and Eurovision: Liverpool shows culture and creativity are vital for regeneration and growth

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Liverpool showcase at regeneration festival UKREiiiF in Leeds

Loreen performs on stage after winning The Eurovision Song Contest 2023

Loreen performs on stage after winning The Eurovision Song Contest 2023 in Liverpool(Image: Getty Images)

Liverpool leaders at regeneration showcase UKREiiF say the city’s success shows that culture can drive regeneration – but only if cultural leaders are brought on board at the very start and not treated as afterthoughts.

The North West was represented in force at UKREiiF this year, with Manchester again taking on the landmark Canary building on Leeds Dock alongside Opportunity London, while Cumbria ran a prominent pavilion close to one of the event’s main entrances.

At the Liverpool pavilion meanwhile, guests and delegates including metro mayor Steve Rotheram talked investment and regeneration over americanos and lattes from Liverpool’s own bean coffee. Most delegations at UKREiiF had their own pin badges, including a Welsh dragon for Wales – Liverpool, of course, had mini golden Liver Bird badges.

Just before lunchtime, the pavilion hosted a discussion on “place-based” regeneration – how culture can help drive economic growth.

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Patrick Nolan became chair of the new Imagine Liverpool regeneration board last year ahead of UKREiiF 20205. Mr Nolan, former vice chairman, HSBC Global Banking & Markets, began the event talking about two great examples of regeneration and culture coming together in Liverpool..

One, he said, was Everton’s new stadium on the Liverpool waterfront. “I’m a Red,” he said, “but I have to admit the new Hill Dickinson Stadium is just a terrific development.” He added that “It needed someone to take that move and build something really impressive” on that stretch of waterfront, and said the development would have an uplifting effect on North Liverpool and the area around.

He also said he was excited about the plans for a film and television production hub at the former Littlewoods complex in Edge Lane. The project has been long delayed, but Mr Nolan said: “We are in advanced stages on getting the finances for that”.

A CGI of how the Littlewoods project could look when it is completed

How the planned transformation of the Littlewoods building in Liverpool could look when it is completed(Image: Capital&Centric)

Kate Honey, director of social impact at Liverpool ONE owner Landsec, said her business aimed to think about cultural offerings whenever it built or took on a development. She said Landsec was already thinking about how it could work with Tate Liverpool when it reopens “to create a destination around arts and culture” at Liverpool One for visitors coming to and from the Albert Dock gallery.

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Later the panel discussed the Taylor Town art installation, where an art trail was created across Liverpool ONE and the Albert Dock for the thousand of fans who came to the city for the pop superstar’s Eras concerts. That was led by social enterprise Make CIC, which was commissioned by Culture Liverpool and in turn worked with local artists and makers.

Taylor Swift performing on stage at Anfield

Taylor Swift performing on stage at Anfield in 2024(Image: Gareth Cattermole/TAS24/Getty Images for TAS Rights Management)

Laura Dyer, deputy chief executive for places, engagement and libraries at Arts Council England, said she would encourage developers to engage with their local cultural venues and organisations, adding: “I’d reflect on the way culture can also help regenerate communities and generate that sense of place and belonging.”

Mr Nolan later talked about the power of the Liverpool brand, and how the city region had to use it to encourage investment. The city region, he said, attracted many tourists and short-term visitors but “we need to make it a place where occupiers and investors want to come and build their careers and build their lives”.

Crowds at the Pier Head in Liverpool on Eurovision Song Contest Final day in 2023

Crowds at the Pier Head in Liverpool on Eurovision Song Contest Final day in 2023(Image: Colin Lane/Liverpool Echo)

He said Liverpool’s brand remained strong globally, saying that as he travelled around the world at HSBC “people never had a bad word to say about Liverpool”. But in the UK, there is still work to do.

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“Down south it’s not quite as rosy as that,” he said. “We still have quite a few people with prejudiced historical views of the city. We’re changing that.”

He said the Imagine Liverpool board had been working with international investors and said: “What’s been critical is getting the narrative of Liverpool right.”

That, he said, means talking about the wide range of Liverpool success stories, from traditional industries such as automotive right through to modern growing sectors such as gaming. He said: “We can’t be all things to all people… we have to focus on what we do best.”

Ms Dyer from the Arts Council later spoke about how best to embed culture in regeneration schemes. She said the key for developers was to get cultural organisations in early, and not just to bring them in as a token gesture late in the process.

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Patrick Nolan, chair of the Imagine Liverpool board, speaking, with Isabel Hunt – Executive Director, The National Lottery Heritage Fund, pictured at the  UK Real Estate Investment & Infrastructure Forum (UKREiiF) in Leeds.

Patrick Nolan, chair of the Imagine Liverpool board, speaking, with Isabel Hunt – Executive Director, The National Lottery Heritage Fund, pictured at the UK Real Estate Investment & Infrastructure Forum (UKREiiF) in Leeds(Image: Reach plc)

She said: “The best impact we see is when culture is at the table in those conversations from the very beginning.”

She said Liverpool had seen some very effective examples of co-operation between the public, private and cultural sectors, saying “ You see culture baked in.” The huge success of the city’s Eurovision hosting in 2023 was a prime example of that.

Ms Honey from Landsec later said community and cultural engagement was vital for all regeneration schemes. She said: “If you get it right you’re creating a place that ultimately drives economic value.”

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Investors looking for shelter from AI storm are turning to India

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After losing out big on the global AI rally, Indian equities are regaining the attention of investors seeking to weather the latest market turbulence.

With the artificial intelligence frenzy roiling benchmark gauges from Asia to the US, the NSE Nifty 50 Index is becoming a safe haven of sorts for global investors. In the first half of the year, it moved 1% or more on just about one-third of the days — less than the MSCI Emerging Markets Index and barely more than the S&P 500 Index.

India’s lack of AI plays has been a hurdle most of the year as investors turned to markets like South Korea and Taiwan that delivered stellar returns. But with concerns mounting over the sustainability of that trade, interest in India is slowly coming back. In June, the Nifty 50 outperformed the MSCI Emerging Markets Index by the most since November, while foreign outflows were the smallest in four months.

“India’s calm comes down to one thing: It sits outside the AI trade,” said Maxence Visseau, chief investment officer of Arkevium Capital in Dubai. His firm is neutral on the market and uses it as a diversifier, he said. “India works as an AI hedge inside the EM complex.”

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Image 1ETMarkets.com

Indian equities remain some of the world’s worst performers this year, but the tide is starting to turn as the rupee stabilizes after hitting a record low and oil gains that tanked shares of refiners and airlines recede on easing tensions in the Middle East. That’s reduced inflation concerns and brightened prospects for India’s economic growth, according to a government report at the end of June.


At the same time, market players are getting more upbeat about the upcoming earnings season, which Tata Consultancy Services Ltd. kicks off on Thursday.
“The fall in commodity prices has altered the macro outlook for India almost overnight,” said Sandip Sabharwal, founder of research house Asksandipsabharwal.com in Mumbai. “Lower commodity prices, improving capital flows and stable interest rates create an environment where earnings upgrades are likely to exceed downgrades over the coming quarters.”In a note to clients, Morgan Stanley analysts including Ridham Desai wrote last month that India has become a “much larger macro asset class.” The less volatile inflation data in recent years support equity valuations and turn the market into one of defensive growth that can withstand global shocks better than it used to, they said. Over the past decade, the Nifty 50 almost tripled, delivering annual gains of more than 10% on six separate years.

The benchmark index logged 38 sessions with moves of 1% or more in either direction in the first six months of 2026, compared with 59 for MSCI’s emerging-market and Asian gauges and 32 for the S&P 500. South Korea’s Kospi index was off the charts, with 79 days of fluctuations of at least 1% — or two-thirds of the days in 2026.

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Meanwhile, the India NSE Volatility Index dropped for a third straight month in June, falling below its one-year average and reaching its lowest level since February on Friday. That’s a far cry from April, when the gauge of option prices was at a one-year high relative to the Cboe Volatility Index, shortly after the Nifty 50 tanked to a low.

Kruti Shah, a quantitative analyst at Equirus Securities, sees a “bullish undertone” in the Nifty 50 and favors call spreads to bet on more gains, adding that the upcoming earnings season may offer some positive surprises.

“India was held back earlier this year by higher energy prices, elevated valuations and limited exposure to the AI trade,” said Ben Powell, chief investment strategist for the Middle East and Asia Pacific at BlackRock Investment Institute. “As those pressures have eased, investors may look beyond AI-heavy markets. That could put India back on investors’ radar as a differentiated opportunity within emerging markets.”

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