Best of the Week
Most Popular
1. Five Charts That Show We Are on the Brink of an Unthinkable Financial Crisis- John_Mauldin
2.Bitcoin Parabolic Mania - Zeal_LLC
3.Bitcoin Doesn’t Exist – 2 - Raul_I_Meijer
4.Best Time / Month of Year to BUY a USED Car is DECEMBER, UK Analysis - Nadeem_Walayat
5.Labour Sheffield City Council Election Panic Could Prompt Suspension of Tree Felling's Private Security - N_Walayat
6.War on Gold Intensifies: It Betrays the Elitists’ Panic and Augurs Their Coming Defeat Part2 - Stewart_Dougherty
7.How High Will Gold Go? - Harry_Dent
8.Bitcoin Doesn’t Exist – Forks and Mad Max - Raul_I_Meijer
9.UK Stagflation Risk As Inflation Hits 3.1% and House Prices Fall - GoldCore
10.New EU Rules For Cross-Border Cash, Gold Bullion Movements - GoldCore
Last 7 days
Crude Oil is Starting 2018 Strong but there's Undeniable Risk to the Downside - 16th Jan 18
SPX, NDX, INDU and RUT Stock Indices all at Resistance Levels - 16th Jan 18
Silver Prices To Surge – JP Morgan Has Acquired A “Massive Quantity of Physical Silver” - 16th Jan 18
Carillion Bankruptcy and the PFI Sector Spiraling Costs Crisis, Amey, G4S, Balfour Beatty, Serco.... - 16th Jan 18
Artificial Intelligence - Extermination of Humanity - 16th Jan 18
Carillion Goes Bust, as Government Refuses to Bailout PFI Contractors Debt and Pensions Liabilities - 15th Jan 18
What Really Happens in Iran?  - 15th Jan 18
Stock Market Near an Intermediate Top? - 15th Jan 18
The Key Economic Indicator You Should Watch in 2018 - 15th Jan 18
London Property Market Crash Looms As Prices Drop To 2 1/2 Year Low - 15th Jan 18
Some Fascinating Stock Market Fibonacci Relationships... - 15th Jan 18
How to Know If This Stock Market Rally Will Continue for Two More Months? - 14th Jan 18
Everything SMIGGLE from Pencil Cases to Water Bottles, Pens and Springs! - 14th Jan 18
Land Rover Discovery Sport Very Bad MPG Fuel Economy! Real Owner's Review - 14th Jan 18
Gold Miners’ Status Updated - 13th Jan 18
Gold And Silver – Review of Annual, Qrtly, Monthly, Weekly Charts. Reality v Sentiment - 13th Jan 18
Gold GLD ETF Update.. Bear Market Reversal Watch - 13th Jan 18
Stock Market Leadership In 2018 To Come From Oil & Gas - 13th Jan 18
Stock Market Primed for a Reversal - 13th Jan 18
Live Trading Webinar: Discover 3 High-Confidence Trade Set-Ups - 13th Jan 18
Optimum Entry Point for Gold and Silver Stocks - 12th Jan 18
Stock Selloffs Great for Gold - 12th Jan 18
These 3 Facts Show Gold Is Set to Surge in 2018 - 12th Jan 18
How China is Locking Up Critical Resources in the US’s Own Backyard - 12th Jan 18
Stock futures are struggling. May reverse Today - 12th Jan 18
Three Surprising Places You See Cryptocurrency - 12th Jan 18
Semi Seconductor Stocks Canary Still Chirping, But He’s Gonna Croak in 2018 - 12th Jan 18
Land Rover Discovery Sport Panoramic Sunroof Questions Answered - 12th Jan 18
Information About Trading With Alpari And Its Advantages - 12th Jan 18
Stock Market Investing 2018 - “I Hope I’m Making a Bad Buy” - 11th Jan 18
S&P 500 Fluctuates As Stock Market May Be Topping, Or Not? - 11th Jan 18
SPECTRE Microprocessor Security Flaw - Big Brother = You - 11th Jan 18
7 Market Forecasts 2018 from the Brightest Financial Minds I Know - 11th Jan 18
It’s Not Enough to Be Contrarian - 11th Jan 18
Stocks That Take One for A Roller Coaster Ride Through the Thick And Thin Of Every Single Investment Made - 11th Jan 18
Police Arrest Tree Protester on Meersbrook Park Road, Sheffield - 10th Jan 18
Stock Market Aggressive Sell Signals - 10th Jan 18
The 2018 Decline in Precious Metals - 10th Jan 18
Gold Hits All-Time Highs Priced In Emerging Market Currencies - 10th Jan 18
TMV : 3X Leveraged Short on US Treasury Bonds - 10th Jan 18
Here are the Key Levels in Gold & Gold Miners - 10th Jan 18

Market Oracle FREE Newsletter

6 Critical Money Making Rules

London and New York Tie as Top Global Financial Centres, Asia Catching Up Fast

Politics / Global Financial System Mar 20, 2010 - 03:33 PM GMT

By: Pravda

Politics

In the rating of global financial centers created by Z/Yen Group Ltd., Moscow dropped from 67th to 68th place out of 75 available. There were some changes on the top of the list as well. London, despite being a leader, has to share the top place with New York as both cities received 775 points out of 1,000 available.


Compared to the last rating, London turned out to be a leader in lost points. The British capital has lost 15 points, the second negative result. New York, on the contrary, has gained one point.

Z/Yen Group Ltd. was first commissioned to compile Global Financial Centers report in March of 2007. The current rating was created in the second half of the last year, i.e., after the global financial crisis began subsiding. As a result, nearly all companies with minor exceptions have strengthened their positions. On average, the growth amounted to 23 points.

According to the rating creators, the positions of the top two leaders are still strong. Yet, the gap between them and Hong Kong that follows the leaders is getting smaller. A year ago the difference was 81 points, six months later it was 45 points, and now it is only 36 points. “Semi-Chinese metropolis” was awarded 739 points this year, with a gain of 10 points compared to last year.

Another former British colony, Singapore, follows Hong Kong. The city state still preserves its 4th position with 733 балла . The top five includes Tokyo with 692 points (up two positions).

The gap between London and other large European financial centers has shrunk significantly. For example, the gap between London and Zurich was 114 points, and London and Frankfurt - 141 points. Now the difference has decreased to 98 and 114 points, respectively.

Moscow was awarded 516 points, 54 points more than last year. Yet, even this significant gain did not help Moscow to keep its previous position. Warsaw outran the Russian capital with 520 points, showing the maximum gain of 64 points.

Lisbon and Budapest placed at the bottom of the rating also managed to gain over 50 points. Moscow is followed by Riyadh (Saudi Arabia) with 507 points. Another Russian city, Saint Petersburg, also made it to the list with 501 points, which is 48 points gain compared to last year.

The creators of the rating divided all cities into 12 categories depending on the level of diversification of financial services as well as the level of globalization. The top category represents “Global Leaders.” The category includes the top four cities of the rating as well as Chicago (678 points, 6th place), Zurich (677 points, 7th place), Toronto (667 points, 12th place) and Frankfurt (660 points, 13th place).

According to the rating authors, Moscow falls into the category “global contenders.” The category also includes Shanghai (11th place, 668 points), Peking (15th place, 651 points), Dubai (24th place, 618 points). The authors think that these cities are well known in the financial world but not developed enough to be included into the category of “specialists” or “diversified centers.”

Anatoly Miranovsky

Pravda.ru

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Pravda Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules