Manila lags in financial centers list

The Philippine capital fell nine places to 110^th out of 121 global financial centers in the of the biannual (GFCI) by London-based think tank . The GFCI evaluates the future competitiveness of financial centers and is used as a reference for policy and investment decision-makers. Manila’s GFCI rating went down by 15 points to 616, the lowest rating among its peers in the East and Southeast Asian region. In a separate assessment of financial technology (fintech), Manila fell four places to 101st out of 116 financial centers.