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City losing credit as global financial centre

posted 21 Sep 2010, 04:56 by David Rintoul   [ updated 21 Sep 2010, 05:07 ]

Edinburgh is slipping down the league table of global financial centres, according to the latest rankings.

The Capital has dropped from 28th to 31st in the twice-yearly table of 75 world locations published by London-based think tank Z/Yen.

Its score fell from 615 out of 1000 to 600 in the Global Financial Centres Index.

Meanwhile, Glasgow bucked the trend of falling confidence in the global financial sector, climbing from 52nd to 46th place.

The ratings are based on an online survey of the views of financial industry professionals and a raft of other factors including availability of skilled personnel and property, rental costs, quality of life, operational costs, the tax system and the regulatory environment.