-
Report says Singapore becomes Asia’s top financial center

Singapore became Asia’s top financial center, overtaking Hong Kong in the world financial centers ranking, according to a report by the Global Financial Centres Index (GFCI 32), the Anadolu Agency reported.
The index, prepared by the Z/Yen Partners and the China Development Institute think tanks, ranks 119 financial centers and employs data obtained from thousands of financial services professionals answering an online questionnaire.
"New York leads the index, with London second, ahead of Singapore in third place, which has overtaken Hong Kong in fourth position," according to the report.
"Paris returned to the top ten in the index, replacing Tokyo which fell to 16th place, perhaps reflecting a comparatively slow consumer recovery following the Covid-19 pandemic," it said.
In Asia, Singapore left Hong Kong behind by one rating point to take the lead in the region and third place in the overall index.

"Continuing travel restrictions in places like Hong Kong and Tokyo affect their ability to conduct normal levels of business," said the report.
Shanghai, Beijing and Shenzhen also maintained spots in the top 10.
Singapore announces to end ban on gay sex
Meanwhile, amid the Russia-Ukraine war, Russian financial centers fell, with Moscow down 22 places to 73, and St. Petersburg falling 17 spots to 114.
In the Middle East, Dubai and Abu Dhabi took first and second place, respectively, with Dubai stable in the rankings at 17th place and Abu Dhabi sitting in 32nd place.
Here are the top 10 ranked financial centers:
New York, US - London, UK - Singapore - Hong Kong - San Francisco, US - Shanghai, China - Los Angeles, US - Beijing, China - Shenzhen, China - Paris, France.
Source: aa
You May Also Like
Popular Posts
Caricature
BENEFIT Sponsors BuildHer...
- April 23, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”
opinion
Report
ads
Newsletter
Subscribe to our mailing list to get the new updates!