MercoPress. South Atlantic News Agency

London world's leading financial centre; Santiago in Latam

Santiago the main financial citiy in Latam

London has been named the most influential financial centre in the world for the second consecutive year in spite of competition from fast rising hubs in Asia, according to MasterCard's second annual survey.

In Latinamerica the main financial cities are Santiago de Chile, Mexico, Sao Paulo, Brazil; Bogotá, Colombia and Buenos Aires, Argentina. However they are ranked in the half bottom of the list, from positions 53 to 63. Worldwide behind London figures New York, followed by Tokyo and Singapore in third and fourth place respectively. The report said: "With a strong and secure economy, vibrant financial markets and a legal and political framework that supports high levels of International trade, London again secures the top spot in the Centres of Commerce Index in 2008". The chart of 75 cities was notable this year for the rise of cities in the so-called "tiger economies" of Asia. Shanghai recorded the most marked climb in places, rising eight places to number 24. MasterCard rated cities using a range of criteria, including regulatory framework, volume of financial activity and the presence of leading financial institutions. Behind Singapore follow Chicago, Hong Kong, Paris, Frankfurt, Seoul, Amsterdam and Madrid.