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Moscow Gains 11 positions in IFC Rating

11.04.2016 13:13 / RBC

Moscow has improved its standing in global financial center ratings by Z/Yen Group, gaining 11 positions vs last year. The Top 10 is domiated by North America and East Asia.

Moscow is at #67 from last year's #78, between Guernsey and the Isle of Man, a little behind Rome, Madrid and Oslo, in a list of 86 cities. The rating is compiled by Z/Yen Group based on data from World Bank, OECD and the Economist.

The other listed Russian city, St Petersburg, is at #82, down one position and behind Riga and Tallinn. The rating states that Moscow and St Petersburg have considerably lost their appeal and lost experts' trust. The same applies to several European cities (Madrid, Glasgow, Rome, Reykjavik, Athens), which suffered from the financial crisis.

London has beat New York to the top spot, Singapore is third, over Hong Kong. The top ten is dominated by North America and East Asia, except London and Zurich.

Eastern Europe's highest ranking city is Warsaw at #48.

The GFCI rating was first published by London-based Z/Yen Group in March 2007 and is based on 105 factors.

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