Latest news with #investmenthub
Yahoo
10-07-2025
- Business
- Yahoo
Reeves warned it's ‘now or never' to save the City
Rachel Reeves has been warned she must act 'now or never' to give Britain's financial services a Singapore-style revamp or risk the City sliding into irrelevance. The City of London Corporation, which represents the interests of the Square Mile, urged the Chancellor to create a financial services investment hub to make it easier for foreign investors to invest in the UK. Chris Hayward, the authority's policy chairman, said Singapore and other financial centres had introduced methods of fast-tracking investments to boost inbound spending from foreigners – a move the UK could copy. The timing is significant because Ms Reeves is scheduled to deliver her Mansion House speech next week. The set piece event, where the Chancellor will lay out her financial services policy objectives, is hosted by the Corporation each year. She is facing growing pressure from trade groups to come up with bolder solutions to lift the gloom engulfing the Square Mile. Mr Hayward said: 'This is a now-or-never moment for UK financial services. If we don't act decisively, we risk losing our global position and the economic prosperity, jobs and innovation that come with it. 'The UK must urgently first match, then exceed these standards to remain competitive. This is an opportunity to protect and grow our future prosperity by encouraging government departments and regulators to work more collaboratively.' It comes after the Confederation of British Industry (CBI) called on Ms Reeves to introduce significant reforms to ensure the London Stock Exchange remains competitive. Rupert Soames, the CBI chairman, warned that London 'has seen a far greater loss of domestic liquidity than other markets' as investors shun buying UK shares. Mr Soames, who is also chairman of the FTSE 100-listed Smith & Nephew, added that London had 'also seen a higher level of attrition of membership' caused by companies leaving the stock market and going private. In recent years, the London market has suffered a string of high-profile exits, with companies abandoning listing in London for higher valuations in New York. A number of FTSE 350 businesses have also been taken private as low valuations make them an attractive takeover target. In her Mansion House speech, the Chancellor is expected to lay out a shake-up of mortgage rules and announce a cut to the annual tax-free cash Isa allowance. Earlier this year, Jeremy Hunt, the former chancellor, said the UK should copy the model of Singapore in order to improve prosperity and drive economic growth. Mr Hunt also urged the Prime Minister to pursue reforms to make Britain a low-tax nation that welcomed free trade. The phrase 'Singapore-on-Thames' has become shorthand for the goal of turning the country into a low-tax economy with a flexible jobs market and educated workforce. 'Countries like Singapore demonstrate, openness can still deliver excellent results. Over the last half century, its living standards have grown five times faster than ours,' Mr Hunt wrote in The Telegraph. The Treasury was contacted for comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Telegraph
10-07-2025
- Business
- Telegraph
Reeves warned it's ‘now or never' to save the City
Rachel Reeves has been warned she must act 'now or never' to give Britain's financial services a Singapore-style revamp or risk the City sliding into irrelevance. The City of London Corporation, which represents the interests of the Square Mile, has urged the Chancellor to create a financial services investment hub to make it easier for foreign investors to invest in the UK. Chris Hayward, the authority's policy chairman, said Singapore and other financial centres had introduced methods of fast-tracking investments to boost inbound spending from foreigners – a move the UK could copy. The timing is significant because Ms Reeves is scheduled to deliver her Mansion House speech next week. The set-piece event, where the Chancellor will lay out her financial services policy objectives, is hosted by the Corporation each year. She is facing growing pressure from trade groups to come up with bolder solutions to lift the gloom engulfing the Square Mile. Mr Hayward said: 'This is a now-or-never moment for UK financial services. If we don't act decisively, we risk losing our global position and the economic prosperity, jobs and innovation that come with it. 'The UK must urgently first match, then exceed these standards to remain competitive. This is an opportunity to protect and grow our future prosperity by encouraging government departments and regulators to work more collaboratively.' It comes after the Confederation of British Industry (CBI) called on Ms Reeves to introduce significant reforms to ensure the London Stock Exchange remains competitive. Rupert Soames, the CBI chairman, warned that London had 'seen a far greater loss of domestic liquidity than other markets' as investors shun buying UK shares. Mr Soames, who is also chairman of the FTSE 100-listed Smith & Nephew, added that London had 'also seen a higher level of attrition of membership' caused by companies leaving the stock market and going private. In recent years, the London market has suffered a string of high-profile exits, with companies abandoning listing in London for higher valuations in New York. A number of FTSE 350 businesses have also been taken private as low valuations make them an attractive takeover target. In her Mansion House speech, the Chancellor is expected to lay out a shake-up of mortgage rules and announce a cut to the annual tax-free cash Isa allowance. Earlier this year, Jeremy Hunt, the former chancellor, said the UK should copy the model of Singapore in order to improve prosperity and drive economic growth. Mr Hunt urged the Prime Minister to pursue reforms to make Britain a low-tax nation that welcomed free trade. The phrase ' Singapore-on-Thames ' has become shorthand for the goal of turning the country into a low-tax economy with a flexible jobs market and educated workforce. 'Countries like Singapore demonstrate [that] openness can still deliver excellent results. Over the last half century, its living standards have grown five times faster than ours,' Mr Hunt wrote in The Telegraph.
Yahoo
09-07-2025
- Business
- Yahoo
City Corporation says UK urgently needs 'one stop' investment hub for financial services
Britain urgently needs a 'one stop shop' advice and support hub for foreign investors or risk losing its status as a world-leading centre for financial services. A new report from the City of London Corporation said a Singapore-style financial services investment hub could unlock as much as £10 billion in investment by 2030. The report was written in close collaboration with HM Treasury, the Office for Investment and regulators, after consultation with more than 200 stakeholders across the UK. It warns that the country is at a 'now or never' moment to defend and grow its global leadership in financial services. The proposed hub would offer 'joined-up, tailored support from market entry to expansion'. The report, titled The Future of Financial and Professional Services Investment in the UK: A Strategic Blueprint for a Financial Services Investment Hub and Concierge Service, adds the hub 'will opportunities and seamless regulatory guidance'. It points out the UK has seen a 4% fall in its market share of financial and professional services foreign direct investment (FDI) projects since 2017 'while other financial centres have recorded accelerated growth over the same period'. The report argues that while the UK's strengths, such as its time zone, legal system, global financial infrastructure, and political stability, remain unmatched, 'these foundations must now be paired with modernised, frictionless investment services to remain competitive'. Chris Hayward, Policy Chairman at the City of London Corporation, the governing body for the Square Mile, said: 'This is a now or never moment for UK financial services. If we don't act decisively, we risk losing our global position and the economic prosperity, jobs and innovation that come with it. 'Other markets have introduced services that fast-track market entry, including investor concierge services and fully coordinated government and regulatory support. The UK must urgently first match, then exceed these standards to remain competitive. 'We need a nationally joined-up service that makes the UK the easiest and most attractive place in the world to invest in financial services. This is an opportunity to protect and grow our future prosperity by encouraging government departments and regulators to work more collaboratively.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
01-07-2025
- Business
- Zawya
Ras Al Khaimah continues to attract more investors powered by RAK Central's vibrant ecosystem
The new development enhances RAK Central's reputation as a global and regional investment hub Ras Al Khaimah, UAE: Marjan, the master developer of freehold properties in Ras Al Khaimah, has announced a strategic land acquisition deal by Major Developers at RAK Central, its upcoming mixed-use commercial development in the northern emirate. The official signing of the project took place at the Mövenpick Resort Al Marjan Island, marking Major Developers' second venture in Ras Al Khaimah and reinforcing their commitment to the emirate's high-growth commercial and investment ecosystem. Scheduled to be completed by Q4 2028, the high-performance, mixed-use development will span a built-up area of 265000 sq ft further enhancing RAK Central's status as a progressive integrated destination for living and business. Following the successful launch of their flagship project, Manta Bay at Al Marjan Island, this latest venture underscores Major Developers' continued confidence in the emirate's economic vision and its infrastructure-driven approach to sustainable growth. Abdulla Al Abdouli, Chief Executive Officer, Marjan, said: 'With RAK Central, we've created a mega development that is structurally aligned with regional growth, global investment patterns, and national diversification goals. Major Developers' decision to invest in this multi-use destination is testament to Ras Al Khaimah's growing clout as a durable economic engine driving further progress. We welcome their participation in the evolution of RAK Central and look forward to a landmark addition to its evolving identity.' Andrei Charapenak, CEO, Major Developers, added; 'RAK Central represents a uniquely calibrated convergence of foresight, infrastructure, and regional alignment. As such Major Developers is excited to drive Ras Al Khaimah's growth narrative through this multi-dimensional new project that is set to shape one of the UAE's most profitable and forward-thinking economic hubs. We look forward to further driving this visionary project through our landmark architecture, experience, and performance.' RAK Central is a meticulously planned business district designed to be the commercial nucleus of Ras Al Khaimah, offering rare investment fundamentals: 100% foreign ownership, low taxation, and high yield potential. RAK Central's strategic location and smart design make it one of the most compelling investment zones in the region. Grounded in a 'Work–Live–Play' philosophy, the district combines institutional infrastructure with human-centric planning to create a cohesive urban ecosystem. Marjan's strategic partnerships to develop RAK Central, located on Sheikh Mohammed bin Salem Al Qasimi Street, with spectacular views of Al Hamra Golf Club and the Arabian Gulf, is attracting investment from multinational companies in diverse business sectors, including hospitality, leisure, retail, finance, logistics and construction. RAK Central masterplan offers three million square feet of rentable office space, more than 4,000 residential apartments, four hotels with a capacity surpassing 1,000 keys, multiple parks and green spaces, various retail and entertainment facilities, and several interconnected buildings with over 1,000 parking spaces for visitors. Work on RAK Central HQ, which will serve as the main business complex, is currently underway and expected to be completed in the first quarter of 2027. About Marjan Marjan is the master-developer of freehold property in Ras Al Khaimah, responsible for path-breaking developments such as Al Marjan Island aimed at positioning Ras Al Khaimah as one of the region's leading tourism and investment destinations. Mandated with developing waterfront, urban and mountain destinations that will add to the competitiveness of the Emirate, Marjan's strategic master-planning approach is to leverage Ras Al Khaimah's natural assets and lay the foundations of the Emirate's future expansions. Through its world-class master-planned communities in Ras Al Khaimah, Marjan attracts foreign investment as well as international visitors and positions the Emirate as a strong investment and tourism hub.
Zawya
26-05-2025
- Business
- Zawya
A 15% growth in new memberships at Ajman Chamber during Q1 2025
The Ajman Chamber has recorded notable membership growth during Q1 2025. The total number of new and renewed memberships reached 10,430, marking a growth rate exceeding 5% compared to the same period in 2024, which saw 9,901 memberships. This growth reflects the increasing confidence in Ajman's business and investment climate. It also underscores the Chamber's continuous efforts, in collaboration with its government partners, to foster a supportive and stimulating environment for business owners and investors. This is achieved through innovative services and initiatives that enhance the sustainability and growth of businesses across various economic sectors. New memberships saw a 15% increase, totaling 1,873 compared to 1,630 in Q1 2024. Additionally, renewed memberships grew by over 3%, reaching 8,557 compared to 8,271. The surge in membership is an outcome of Ajman Chamber's comprehensive strategy to boost the emirate's competitiveness as a leading investment hub. This strategy involves intensified participation in specialized exhibitions and events, both domestically and internationally, across vital sectors such as industry, trade, health, education, tourism, real estate, and construction, among others. Furthermore, the Chamber actively hosts trade and economic delegations and organizes specialized forums and workshops which facilitate knowledge exchange and explore collaboration opportunities, directly contributing to the Chamber's increased membership and attracting more companies and investors, thereby supporting the growth of diverse economic activities in the emirate of Ajman."
