Manila drops further in financial centers list

The Philippine capital fell five places to 108th out of 120 global financial centers in the 33rd iteration of the biannual Global Financial Centers Index (GFCI). The Index provides evaluations of future competitiveness of financial centers around the world. Manila’s GFCI rating also inched down by a point to 583. In a separate assessment of financial technology (fintech), Manila retained its 77th rank (out of 114 financial centers) and improved its rating by four points to 613.