Here is the article written by indian newsagency Times of India
Mumbai in list of world's top-ten commercial hubs (Please look at this title carefully , more surprise will come)
PTI[ MONDAY, JUNE 18, 2007 02:00:56 PM]
MUMBAI: Mumbai is ranked tenth among the world's biggest centres of commerce in terms of the financial flow volumes by a survey compiled by Mastercard Worldwide, which takes into consideration size of financial services network besides equity, bond, derivatives and commodity contract transactions.
The list, lead by London and New York on the first two slots, include two other Asian cities - Tokyo at fifth and Seoul at sixth positions, but does not have any representation from China - another emerging Asian economy.
The other cities include Chicago, Frankfurt, Paris, Madrid and Milan.
"The Asia/Pacific, Middle East and Africa (APMEA) region boasts of three cities which got included in the premier league -- Tokyo, Seoul and Mumbai due to their high trading volumes in bonds and equities," Mastercard Worldwide said in its first Worldwide Centres of Commerce Index study.
The list is, dominated by European cities with as many as five of the top ten positions on financial flow metrics.
According to Mastercard Worldwide, the financial flow dimension is an integration of five indicators - financial services network, equity transactions, bond transactions, derivatives contracts traded and commodities contracts traded - all carrying equal weightage.
The financial services network includes the presence and intensity of global banking institutions, insurance companies and global securities companies.
"These top-ranking centres of commerce conform to the network of global financial transactions and flow; although more detailed analysis would show specialisation between the centres in areas such as bonds, derivatives and equity trading," Mastercard said.
The MasterCard study also ranked the world's top cities in terms of their performance as overall centres of commerce in the global economy, where Mumbai was at 45th position, while London, New York and Tokyo stood at the top three positions.
China got represented by three cities in the top-50 list, with Hong Kong grabbing the fifth position, Shanghai at 32nd and Beijing at 46th position. However, Mumbai was the only Indian city on the list.
This index consisted of six dimensions -- legal and political framework, economic stability, ease of doing business, financial flow, business centre and knowledge creation and information flow.
Mumbai, however, did not figure in the individual top-ten list on the five metrics other than financial flow.
Earlier last year, a committee was set up to draw an outline to turn Mumbai into a global finance centre. The committee submitted its report in April this year and suggested fixing a 2007-2020 timeframe for the city's evolution from India's financial hub to an International Financial Centre.
MUMBAI: Mumbai has grabbed a place in the world's top ten financial flow hubs list, beating Hong Kong and Beijing in China.
The city has been ranked tenth among the world's biggest centres of commerce in terms of the financial flow volumes by a survey compiled by Mastercard Worldwide, which takes into consideration size of financial services network besides equity, bond, derivatives and commodity contract transactions.
The list, lead by London and New York on the first two slots, include two other Asian cities - Tokyo at fifth and Seoul at sixth positions, but does not have any representation from China - another emerging Asian economy.
The other cities include Chicago, Frankfurt, Paris, Madrid and Milan.
"The Asia/Pacific, Middle East and Africa (APMEA) region boasts of three cities which got included in the premier league -- Tokyo, Seoul and Mumbai due to their high trading volumes in bonds and equities," Mastercard Worldwide said in its first Worldwide Centres of Commerce Index study.
The list is, dominated by European cities with as many as five of the top ten positions on financial flow metrics.
According to Mastercard Worldwide, the financial flow dimension is an integration of five indicators - financial services network, equity transactions, bond transactions, derivatives contracts traded and commodities contracts traded - all carrying equal weightage.
The financial services network includes the presence and intensity of global banking institutions, insurance companies and global securities companies.
"These top-ranking centres of commerce conform to the network of global financial transactions and flow; although more detailed analysis would show specialisation between the centres in areas such as bonds, derivatives and equity trading," Mastercard said.
The MasterCard study also ranked the world's top cities in terms of their performance as overall centres of commerce in the global economy, where Mumbai was at 45th position, while London, New York and Tokyo stood at the top three positions.
China got represented by three cities in the top-50 list, with Hong Kong grabbing the fifth position, Shanghai at 32nd and Beijing at 46th position. However, Mumbai was the only Indian city on the list.
This index consisted of six dimensions -- legal and political framework, economic stability, ease of doing business, financial flow, business centre and knowledge creation and information flow.
Mumbai, however, did not figure in the individual top-ten list on the five metrics other than financial flow.
Earlier last year, a committee was set up to draw an outline to turn Mumbai into a global finance centre. The committee submitted its report in April this year and suggested fixing a 2007-2020 timeframe for the city's evolution from India's financial hub to an International Financial Centre.
http://economictimes.indiatimes.com/Mumbai...how/2130924.cms
Now let's look at other international newsagency's articles
London named world's top business centre
REUTERS
Posted online: Wednesday, June 13, 2007 at 1031 hours IST
Updated: Thursday, June 14, 2007 at 1022 hours IST
HONG KONG, JUNE 13: London is the world's top centre of commerce, according to a study by MasterCard rating leading cities by how they influence the global economy.
The British capital eclipsed second-place New York, which was held back by bond market regulations that affect the volume of listed sales, a more volatile US currency, and by a US economy that was considered to be less stable economy than Britain's economy, MasterCard said.
Tokyo came third in the inaugural MasterCard Worldwide Centres of Commerce index, ahead of Chicago. Hong Kong, ranked fifth, pipped arch-rival Singapore in sixth place because it had a better business climate and a greater volume of equity transactions.
The index, which MasterCard plans to release annually and which covers 63 cities, was compiled from research by a panel of top independent economic, urban development and social science academics from around the world.
It rated cities according to their legal and political framework, economic stability, ease of doing business there, financial flows, standing as a business centre and as a centre of knowledge and information.
Sydney was ranked 14 while Dubai, as a regional air and cargo traffic hub and with a flexible business climate, was named the leading centre in the Middle East and ranked 37th in the index.
China's financial centre, Shanghai, was ranked 32nd while Beijing was in 46th place, one notch below India's business capital Mumbai.
MasterCard Worldwide Centres of Commerce Index: Top 10 Rankings
(scores out of a possible 100 points):
London 77.79
New York 73.80
Tokyo 68.09
Chicago 67.19
Hong Kong 62.32
Singapore 61.95
Frankfurt 61.34
Paris 61.19
Seoul 60.70
Los Angeles 59.05
Amsterdam 57.30
http://www.canada.com/nationalpost/financi...30cbec5&k=0
Now where is India Mumbai on top ten ??
More here. Read carefully
Flexibility and transparency make
London world’s best financial city
A survey by Mastercard
14 June 2007: London has been named as the world’s top financial centre in a survey by Mastercard. The authors praise the British capital’s stable legal and economic framework and transparent business regulations. New York City was placed second ahead of Tokyo and Chicago.
The Mastercard index of 50 cities combines six measures of commercial power including flows of finance, volumes of business and the creation and dissemination of knowledge. It was developed by a team of academics specialising in economics, business, urban studies and finance.
Key findings
• London: The world’s leading Center of Commerce. With a flexible operating environment for business, strong global financial connections and exceptionally high levels of international trade, travel and conferences, London secures the top spot in the Centers of Commerce Index. The city outperforms New York in four of the six measurement dimensions, and scores significantly higher than other European cities.
• National economic factors, market regulations place New York behind London. Once considered the unchallenged financial capital of the world, New York cedes the Financial Flow category to London primarily because bond market regulations in New York affect the volume of listed sales. New York’s score is also impacted by the less stable US economy and the more volatile US dollar.
• Finance and innovation make Chicago number two in US. The fourth-ranked center of commerce globally, topping cities such as Hong Kong and Los Angeles, Chicago’s commodities and financial markets help it rank high in financial flow, while its world-class institutions of higher education lead to high marks on innovation and knowledge creation.
• The easiest places in the world for doing business: Montreal, Toronto and Vancouver. A strong national health care system, excellent infrastructure, low traffic and easy access to public transportation helped make Montreal, Toronto and Vancouver the three cities most attractive for doing business.
• Europe’s entry point for South American business, Madrid, emerges as a financial leader. Madrid ranks number 16 globally and sixth in Europe, driven largely by an exceptionally strong bond market, low inflation and low level of GDP and exchange rate variance.
• Economic divide between Eastern and Western Europe remains. The lowest ranking Western European city on the list, Rome, scores nearly equal to Budapest, the highest ranking Eastern European city, a gap that persists within all six dimensions.
• Tokyo’s powerhouse economy leads to top ranking in Asia Pacific. Tokyo, the leader in its region and number three overall, boasts the Nikkei 225, the world’s leading rate of patent creation , and an air traffic hub second only to Hong Kong.
• Three one-time “Asian Tigers” make the top ten. Hong Kong, Singapore and Seoul all rank among the top 10 Centers of Commerce, with Seoul scoring high marks for its higher education system and patent output, while Hong Kong and Singapore boast top rankings for the strength of their business climate and their prominence in the global financial network. Singapore also rates high for government policies that favor international business and trade.
• Strong business climate makes Dubai the Middle East leader. The region’s air and cargo traffic hub, Dubai, also claims a flexible business climate that makes it optimal for growing companies.
• Latin America is increasingly becoming more global and competitive. Three cities from Latin America placing among the world’s top 50 Worldwide Centers of Commerce is a strong statement of how the region continues to elevate its role in the global economy.
The world's best financial cities Rank City Score
1 London 77.79
2 New York 73.80
3 Tokyo 68.09
4 Chicago 67.19
5 Hong Kong 62.32
6 Singapore 61.95
7 Frankfurt 61.34
8 Paris 61.19
9 Seoul 60.70
10 Los Angeles 59.05
11 Amsterdam 57.30
12 Toronto 57.11
13 Boston 56.47
14 Sydney 56.26
15 Copenhagen 56.14
16 Madrid 56.06
17 Stockholm 54.51
18 San Francisco 54.36
19 Zurich 54.33
20 Atlanta 54.19
21 Miami 53.76
22 Houston 52.96
23 Washington D.C. 52.68
24 Berlin 52.24
25 Milan 52.23
26 Munich 51.85
27 Montreal 51.35
28 Vancouver 51.10
29 Brussels 51.05
30 Vienna 50.94
31 Dublin 50.72
32 Shanghai 50.33
33 Barcelona 50.15
34 Melbourne 48.89
35 Geneva 48.05
36 Bangkok 47.96
37 Dubai 46.61
38 Kuala Lumpur 45.82
39 Santiago 44.56
40 Budapest 43.75
41 Prague 43.55
42 Mexico City 43.35
43 Rome 43.18
44 Tel Aviv 43.00
45 Mumbai 42.70
46 Beijing 41.94
47 Johannesburg 41.37
48 Sao Paulo 41.14
49 Warsaw 40.56
50 Moscow 39.80
http://citymayors.com/economics/financial-cities.html
Again , where is India on top ten ?? Please help me look, I am short sighted
MasterCard names London world's top business centre
Wed Jun 13, 2007 10:57AM BST
Email This Article |Print This Article | Reprints
[-] Text [+] HONG KONG (Reuters) - London is the world's top centre of commerce, according to a study by MasterCard rating leading cities by how they influence the global economy.
The capital eclipsed second-place New York, which was held back by bond market regulations that affect the volume of listed sales, a more volatile U.S. currency, and by a U.S. economy that was considered to be less stable economy than Britain's economy, MasterCard said.
Tokyo came third in the inaugural MasterCard Worldwide Centres of Commerce index, ahead of Chicago. Hong Kong, ranked fifth, pipped arch-rival Singapore in sixth place because it had a better business climate and a greater volume of equity transactions.
The index, which MasterCard plans to release annually and which covers 63 cities, was compiled from research by a panel of top independent economic, urban development and social science academics from around the world.
It rated cities according to their legal and political framework, economic stability, ease of doing business there, financial flows, standing as a business centre and as a centre of knowledge and information.
Sydney was ranked 14 while Dubai, as a regional air and cargo traffic hub and with a flexible business climate, was named the leading centre in the Middle East and ranked 37th in the index.
China's financial centre, Shanghai, was ranked 32nd while Beijing was in 46th place, one notch below India's business capital Mumbai.
MasterCard Worldwide Centres of Commerce Index: Top 10 Rankings (scores out of a possible 100 points):
http://uk.reuters.com/article/businessNews...KG8089220070613
http://uk.reuters.com/article/businessNews...13?pageNumber=2
Ok so far as you can see , I am being very fair 3 articles from international newsagency , one from australia, one from UK, one from Canada. And one from Indian one.
And the results of all these articles as you can see are all from Mastercard, So I believe there is no confusion here.
This is just unbelievable, blatant lie.
Now you can see it . So Am I wrong or Is it the Indian agency is lying ?? Please point out any mistakes I make if I am wrong.
I am not a troll here but I just wanna point out something. Are they doing this to flatter the people of India and the government ??
