Robert Besser
01 Oct 2023, 19:07 GMT+10
LONDON, UK: This week, the Global Financial Centers index showed that New York remains the world's leading financial center, with London still second but gaining some ground.
However, both are facing tougher competition from Singapore and Hong Kong.
After taking over from London in September 2018, New York remains well in the lead with 763 points based on surveys of 147 factors covering 121 centers provided by third parties, including the World Bank, OECD, and the United Nations.
But London has since closed the gap with 744 points, and Singapore is only 2 points behind at 742 and is itself only a point ahead of Hong Kong in fourth place, highlighting an intense battle for the second position.
The index is compiled every six months by London-based think tank Z/Yen and the China Development Institute.
"U.S. centers performed well, with five U.S. centers in the top 10, reflecting the strength of the U.S. economy," the survey said, adding that New York retained its lead in separate fintech rankings, followed by London, which overtook San Francisco.
Get a daily dose of BC Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to BC Post.
More InformationThe U.S. has supplied Israel with scores of BLU-109 bunker-buster bombs since October 7, the Wall Street Journal has reported, ...
WASHINGTON D.C.: This week, the Biden administration announced a proposal by the Environmental Protection Agency (EPA) that would require U.S. ...
TOKYO, Japan: Japan's space agency recently fell victim to a cyberattack, but reassuringly, the compromised information did not pertain to ...
MOUNT PLEASANT, Michigan: This week, a judge sentenced a Michigan man who kept his dead wife's body in a freezer ...
ATLANTA, Georgia: After two consecutive years of declines mainly caused by the COVID-19 pandemic, babies born in the U.S. in ...
The number of soldiers in the Israeli army killed in the current Israel-Hamas war has topped 400. Three hundred and ...
(Photo credit: Kamil Krzaczynski-USA TODAY Sports) The Chicago Bulls will try to extend their first winning streak of the 2023-24 ...
(Photo credit: Bruce Kluckhohn-USA TODAY Sports) The Minnesota Timberwolves will go for their fifth win in a row when they ...
(Photo credit: Jim Rassol-USA TODAY Sports) Two teams striving to improve on their early-season mediocrity clash Wednesday night when the ...
The ?crux of the issue? for Ukraine is that hundreds of thousands of its citizens are avoiding military service, a ...
(Photo credit: Bill Streicher-USA TODAY Sports) A five-day break came at just the right time for the Philadelphia 76ers. The ...
(Photo credit: David Reginek-USA TODAY Sports) The last time the Detroit Pistons tasted victory, trick-or-treaters hadn't even collected their candy. ...