Sydney’s status as a global player confirmed
Thanks to the strength of its financial flow, ease of doing business and liveability, Sydney is the world’s 12th commerce centre, according to the 2008 MasterCard Worldwide Centres of Commerce Index.
This ranking puts Sydney ahead of major cities such as Zurich (#15), Los Angeles (#17) and Shanghai (#24) based on a methodology that incorporates a city’s legal and political framework, economic stability, ease of doing business, financial flow, business centre, knowledge creation and liveability.
In this year’s top five are London (#1), followed by New York, Tokyo, Singapore and Chicago.
Sydney moves up the scale to fifth place in terms of the Asia-Pacific region, on the back of Australia’s strong position a business partner, investor and resource producer.
Tokyo has maintained its leading position in Asia in this year’s index, which highlighted the city’s strength in knowledge creation and information flow.
Recommended for you
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
While efficiency remains a top priority for Australian advisers, State Street has revealed the profession is now juggling this desire with the need to maintain personalisation of its service offering.
A possible acquisition of data provider Iress is becoming a greater likelihood after the firm announced it is engaging with multiple interested parties.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
