首页
登录
职称英语
If you want to see what it takes to set up an entirely new financial center
If you want to see what it takes to set up an entirely new financial center
游客
2024-12-27
31
管理
问题
If you want to see what it takes to set up an entirely new financial center (and what is best avoided), head for Dubai. This tiny, sun-baked patch of sand in the midst of a war-torn and isolated region started with few advantages other than a long tradition as a hub for Middle Eastern trade routes.
But over the past few years Dubal has built a new financial center from nothing. Dozens of the world’s leading financial institutions have opened offices in its new financial district, hoping to grab a portion of the $2 trillion-plus investment from the Gulf. Some say there is more hype than business, but few big firms are willing to risk missing out.
Dealmaking in Dubai centers around The Gate, a cube-shaped structure at the heart of the Dubai International Financial Centre (DIFC). A brainchild of the riding A1-Maktoum family, the DIFC is a tax-free zone for wholesale financial services. Finns licensed for it are not approved to serve the local financial market. The DIFC alms to become the leading wholesale financial centre in the Gulf, offering one-stop shopping for everything from stocks to sukuk (Islamic) bonds, investment banking and insurance. In August the Dubai bourse made a bid for a big stake in OMX, a Scandinavian exchange operator that also sells trading technology to many of the world’s exchanges.
Dubai may have generated the biggest splash thus far, but much of the Gulf region has seen a surge of activity in recent years. Record flows of petrodollars have enabled governments in the area to spend billions on infrastructure projects and development. Personal wealth too is growing rapidly. According to Capgemini and Merrill Lynch, the number of people in the Middle East with more than $1m in financial assets rose by nearly 12% last year, to 300,000.
Qatar, Bahrain and Abu Dhabi also have big aspirations for their financial hubs, though they keep a lower profile than Dubai. They, too, are trying to learn from more established financial centers what they must do to achieve the magic mix of transparent regulation, good infrastructure and low or no taxes. Some of the fiercest competition among them is for talent. Most English-speaking professionals have to be imported.
Each of the Gulf hubs, though, has its own distinct characteristics. Abu Dhabi is trying to present itself as a more cultured, less congested alternative to neighboring Dubai, and is building a huge Guggenheim museum. Energy-rich Qatar is an important hub for infrastructure finance, with ambitions to develop further business in wealth management, private equity, retail banking and insurance. Bahrain is well established in Islamic banking, but it is facing new competition from London, Kuala Lumpur and other hubs that have caught on to Islamic finance. "If you’ve got one string to your bow and suddenly someone takes it away, you’re in trouble," says Stuart Pearce of the Qatar Financial Centre about Bahrain.
Sandi Arabia, by far the biggest economy in the Gulf, is creating a cluster of its own economic zones, including King Abdullah City, which is aimed at foreign investors seeking a presence in the country. Trying to cut down on the number of "suitcase bankers" who fly in from nearby centers rather than live in the country, the Saudis now require firms working with them to have local business licenses. Yet the bulk of the region’s money is still flowing to established financial centers in Europe, America and other parts of Asia.
The financial hubs there offer lessons for aspiring centers in other parts of the developing world. Building the confidence of financial markets takes more than new skyscrapers, tax breaks and incentives. The DIFC, for instance, initially suffered from suspicions of government meddling and from a high turnover among senior executives. Trading on its stock market remains thin, and the government seems unwilling to float its most successful companies there. Making the desert bloom was never easy. [br] According to the passage, which of the following about Dubai is INCORRECT?
选项
A、It enjoys record flows of petrodollars.
B、Personal wealth too is growing rapidly.
C、It is the biggest economy in the Gulf.
D、Billions are spent on infrastructure.
答案
C
解析
倒数第2段第1句表明沙特阿拉伯是海湾地区最大的经济实体,C不符题干中的Dubai,故选C。
转载请注明原文地址:http://tihaiku.com/zcyy/3886560.html
相关试题推荐
Thishasbeenquiteaweekforliterarycoups.Inanalmostentirelyunexpec
Thishasbeenquiteaweekforliterarycoups.Inanalmostentirelyunexpec
Thishasbeenquiteaweekforliterarycoups.Inanalmostentirelyunexpec
OncefoundalmostentirelyinthewesternUnitedStatesandinAsia,dinosau
OncefoundalmostentirelyinthewesternUnitedStatesandinAsia,dinosau
OncefoundalmostentirelyinthewesternUnitedStatesandinAsia,dinosau
TheU.S.CentersforDiseaseControlsuggestedroutineHIVtestsfor[br][ori
Oncefound"almostentirelyinthewesternUnitedStatesandinAsia,dinosa
Oncefound"almostentirelyinthewesternUnitedStatesandinAsia,dinosa
Oncefound"almostentirelyinthewesternUnitedStatesandinAsia,dinosa
随机试题
Ifyousmokeandyoustilldon’tbelievethatthere’sadefinitebetweensmo
Toobtainasatisfactoryresult,onemustapplytwo______ofpaintonacleansur
Gentlemendonotjustpreferblondes,butlighter-skinnedwomeningeneral,a
[originaltext]M:Tellme,Sally,whydoyouthinkthatopportunitiesforindepe
Insciencethemeaningoftheword"explain"suffers【C1】______civilization’
据报道,今年中国快递服务(courierservices)将递送大约120亿件包裹。这将使中国有可能超越美国成为世界上最大的快递市场。大多数包裹里装着网上订购
审查计息负债入账完整性的有效方法有()。A:测试内部控制B:分析利息费用账户
E公司为有色金属企业,采用火法炼铜工艺,年产阳极铜10万吨。公司下设办公室、计财
建筑施工企业超过( )日不支付劳动者工资的,属于无故拖欠工资行为。A.7 B
图示电路端口电压Uab为( )。 A.3V B.-3V C.
最新回复
(
0
)