More than half of the Philippines' provinces are in drought as El Nino exacerbates hot and dry conditions typical for March, April and May
asia2 hours ago
Backed by its strong infrastructure, banking and financial services, Dubai has retained its top ranking in the region in the list of the world's top financial centres and improved its global ranking by four places.
According to the Global Financial Centre Index released on Wednesday, Dubai was ranked 15th worldwide, higher than Paris, Geneva, Los Angeles, Luxembourg and Vienna, among others.
The improvement in Dubai's rating was backed by its strong infrastructure where it was ranked eighth worldwide, ahead of San Francisco, Toronto, Frankfurt, Zurich and Paris. Similarly, the emirate was rated ninth in human capital and financial sector development, surpassing most of the global financial centres.
In sub-indices, Dubai was rated eighth in banking, ninth in professional services and 15th in investment management and professional services.
Dubai's improvement in the global rating can be attributed to the consistet influx of foreign companies into the Dubai International Financial Centre, the top financial centre in the region, which recently reported that the total number of active registered companies in the free zone reached 2,003 at the end of June 2018, up eight per cent from 1,853 as of December 31, 2017.
Abu Dhabi slipped one place to 26th worldwide but recorded improvement in its rating. The UAE capital was ranked first in global leaders.
According to the Global Financial Centre Index 2018 ranking, Dubai has been bracketed into 'stable centres', Abu Dhabi into 'dynamic centres' and Doha in 'unpredictable centres'.
- waheedabbas@khaleejtimes.com
More than half of the Philippines' provinces are in drought as El Nino exacerbates hot and dry conditions typical for March, April and May
asia2 hours ago
Court opened investigation into Sanchez's wife in response to a complaint by anti-corruption pressure group, whose leader is linked to the far right
europe2 hours ago
Chang'e-6 to return with soil samples from moon's far side; the mission expected to last 53 days
asia3 hours ago
The breed, prized for profitability and an ability to adapt to climate change, garners celebrity status in the Central Asian country
asia3 hours ago
Thousands of schools have suspended classes due to the heat, affecting more than 3.6 million students, education ministry data shows
asia3 hours ago
Despite the growing market share of domestic automakers, Teslas remain among the best-selling EVs in the Asian country
auto3 hours ago
The entire plan will see cow-breeding and poultry projects come up near the massive wheat farm and the dairy farm will form the third phase
uae3 hours ago
Modi, 73, remains resoundingly popular after a decade in office, and he is widely expected to win a third term
asia3 hours ago