Dubai drops away in world finance index
Big News Network.com Tuesday 21st September, 2010
Dubai has dropped back four places on the world finance index.
Falling behind cities such as Munich, Guernsey, Sydney and Seoul, Dubai is now 28th on the list which is ranked by the Global Financial Centres Index, put together by a London-based finance research agency.
Dubai’s recent debt crisis has caused the slide with the emirate taking the booby prize as the Gulf’s biggest business loser.
With real estate and banking jobs still at risk in UAE, Dubai is likely to retain its low ranking for awhile.
Dubai is no longer seen as the rising star in the financial community, being eclipsed by some of Asia’s up-and-coming financial hubs.