New York stays leading financial hub, London secures second spot

29 Sep 2023 CW Team

The Global Financial Centres index indicated that New York has consistently maintained its position as the world's premier financial centre. London, although still in the second position, has been slowly catching up, despite facing increased competition from Singapore and Hong Kong. New York has retained its top spot since dethroning London in September 2018. The city currently leads with 763 points, as determined by surveys conducted on 147 factors across 121 centres, provided by third-party organisations such as the World Bank, OECD, and the United Nations. London has narrowed the gap with New York, securing 744 points. This development likely brought relief to London, which had been concerned about its post-Brexit competitiveness. This concern escalated after prominent UK companies, including chip designer Arm Holdings, chose to list in New York. Singapore, however, is now merely 2 points behind London, with 742 points, and is closely trailed by Hong Kong in fourth place. This indicates a fierce competition for the second position among these financial centres. The index, compiled every six months by the London-based think tank Z/Yen and the China Development Institute, reflects the growing intensity of this battle.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..