London tops list of global financial centers
|
|
|
| Posted
:
Tue, 10 Jun 2008 02:53:02 GMT |
| By
:
Reuters |
| Category
:
US (Business) |
| News Alerts by
Email ( click
here ) |
|
US Business News |
Home
|
|
|
|
LOS ANGELES (Reuters) - London is the most influential financial centre in the world for the second year running, according to MasterCard's second annual survey.European and Asian cities dominated the list as U.S. cities hit by the weak dollar tumbled in the rankings released on Sunday.Shanghai, the world's most populous and fastest-growing urban centre, shot up eight spots to No. 24, given its growing importance in China's booming economy, while Los Angeles fell out of the top 10, to 17, as financial-services companies left."With a strong and secure economy, vibrant financial markets and a legal and political framework that supports high levels of International trade, London again secures the top spot in the Centers of Commerce Index in 2008," the report says."London towers over other cities not only in narrow financial terms but in a broader sense as well," said Michael Goldberg, Program Director, MasterCard Worldwide Centers of Commerce Program.The index covers 75 cities, ranking them according to their legal and political frameworks, economic stability, ease of doing business, volume of financial activities, presence of financial institutions, reputations as business Centers, contributions toward knowledge creation, and livability."The European and Asian cities came out very strong," Goldberg said. "They became strong against the weak dollar."New York, No. 2, and Chicago, No. 5, were the only two North American cities to make the top 10 global commercial Centers.Tokyo was third and Singapore fourth. Hong Kong was sixth followed by Paris, Frankfurt, Seoul and Amsterdam.Moscow improved its financial clout the most, placing 51st due to its key role for commodities in Eastern Europe.Regionally, Western Europe dominated with 10 of the top 25 cities, while Asia strengthened its reputation as an economic hub with seven of its cities in the top 25.The highest-ranked Indian city was Mumbai at No. 48.(Reporting by Syantani Chatterjee; Editing Peter Henderson) (c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
|
|
|
|
|
|
Related News
Five more US bank failures bring total for 2009 to 120
New York - Bank failures in the United States have risen to 120 this year as five more regional institutions were added to the list, the US agency that guarantees the safety of bank deposits said. United Commercial Bank in San Francisco with assets o...
US stocks climb slightly despite double-digit jobless rate
New York - US stocks posted mild gains Friday to end the week as investors shrugged off government figures that put the unemployment rate above 10 per cent. The Labour Department said the jobless rate hit 10.2 per cent in the month of October, the hi...
US joblessness hits 10.2 per cent, highest in 26 years - Summary
Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years as another 190,000 people lost their jobs, the Labour Department reported Friday. The figure comes after a 9.8-per-cent jobless rate in September and wa...
US joblessness jumps to 10.2 per cent, highest since 1983 - Update
Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years, as another 190,000 people lost their jobs during the month, the US reported Friday. The figure reported by US Labour Department came after the 9.8 per ...
US jobless rate jumps to 10.2 per cent
Washington - The US unemployment rate surged to 10.2 per cent in October as another 190,000 people lost their jobs, according to US Labour Department figures released Friday. The jobless rate stood at 9.8 per cent in September. Unemployment had been ...
Bulls stop James, edge Cavs - Summary
Los Angeles - The King couldn't deliver in the clutch. Luol Deng and Joakim Noah combined to deny LeBron James a potential game-winning drive in the final seconds as and the visiting Chicago Bulls snapped the Cleveland Cavaliers' three-game winning...
Mortgage lender Fannie Mae posts nearly 19-billion-dollar loss
Washington - US mortgage lender Fannie Mae said Thursday that it would seek 15 billion dollars in federal aid, after posting its ninth consecutive quarterly loss. Fannie Mae reported a net loss of 18.9 billion dollars in the third quarter of 2009, co...
|
|
|
|
|
|
|
|
