London will continue to maintain status as global financial centre: Wootton - Nation - Thailand
London has been the world's largest financial centre for decades and it will remain so despite chaos in the euro zone, says Lord Mayor of London David Wootton.
Wootton, a lawyer by training with expertise in mergers and acquisitions, did not hide the pride that London feels for demonstrating over the centuries great ability to adapt itself to stay ahead of others, aside from openness and transparency that draws law and financial firms as well as numerous transactions to the city.
"It's open. Services are welcome to operate in the UK and a level-playing field is provided, with a single standard across the market," he said in a group interview.
The UK has been hit by the euro-zone crisis as Europe is its biggest export market. However, through the past few years, London has demonstrated its flexibility to maintain its status as a global financial centre amid two big threats - exposure of UK banks to other European banks following the euro crisis; and amendments to Europe's regulatory structure.
Despite the bleak backdrop, growth opportunities in London remain. Ahead of Olympics 2012, real estate investment is booming. In the past few years, London was also firm in basing bank executives' pay on real performance and tightening regulations to ensure the city's resilience. It is also the world's first centre outside China for yuan trading, besides being the biggest centre of Islamic finance in the Western Hemisphere.
London is ready to share its experiences with Thailand, which has long dreamed of becoming a regional financial centre.
"Britain is looking East as never before. In time, we'll be united by the forces," he said.
Wootton was in Bangkok last week, leading a delegation of British business leaders to meet Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong and Bank of Thailand Governor Prasarn Trairatvorakul as well as Thai business leaders. The mission is to present companies in London and across the United Kingdom as partners of choice to Thailand, boost bilateral trade and set the course for British companies' role in Thailand, particularly in services and construction, and Britain's part in the Public Private Partnership.
By the same token, he welcomed Thai banks, securities firms and funds to the UK as well as those in the manufacturing sector.
In the context of British investment in Thailand, he expressed concern over Thailand's foreign ownership limit, which should be lowered to allow foreign companies to become majority shareholders.
"If they are to be minorities, who's gonna put money? Over time, Thailand will see how this will be good for the country," he noted.
When the Asean Economic Community begins in 2015, he considers that the integration would make it easier to advance openness with a single set of rules, no matter where investment is poured. In this regard, Thailand has a competitive edge as it is one of the more active centres for finance. What the region first needs is central regulators. Then, they must acknowledge that rules require business openness and transparency in terms of information, security and disclosure, he said.
Despite chaos in the euro zone following its monetary integration, he did not see that as a cause of fear for Asean countries. He does not write off Europe, which "will remain the best part of the world". Moreover, he foresees more similar groupings in other parts of the world. There would be more groups of countries than indi-|viduals in the next 50 years, like what happened in the past 20 years.
"I suspect more permanent influence to groupings like those in the EU, Asean, Africa and Latin America. They are not necessarily unified, but they could be cooperating in specific partnership," he concluded.
"The EU is a lesson to be learnt. The crisis is not a structural fault. It hasn't happened because of the grouping. You have to learn from Europe's mistakes and identify what went wrong," he said, adding that much of the crisis is born out of the Hamburger crisis in 2008, which forced European countries to pump in liquidity and incur huge fiscal costs.
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London 2012 Olympics: Syrian human rights abusers will not attend Games, Clegg says - Daily Telegraph
General Mofwaq Joumaa, president of the Syrian National Olympic Committee, has already boasted he will be attending to lead the delegation at the opening ceremony. He has said he will complain to the International Olympic Committee if his visa is denied.
“The British people should not be worried about Syrians coming to the UK,” he said. “You have seen how much Syria enjoys security and safety. We are a peaceful country. The Syrian people have love in their hearts for the British people.”
Mr Clegg to the BBC’s Andrew Marr show he found the scenes of “savagery” from Syrian “revolting” and “stomach churning” and added new changes to government legislation would affect those visiting.
“As government we have recently changed the rules about who we allow into this country and who we refuse entry to,” he said.
“For the first time we are saying if there’s evidence you have abused human rights, and there’s independent evidence to show that is the case, you will not be allowed to come into this country.
“As far as the government is concerned – I can’t talk for the Olympic Organising Committee – we have recently said very clearly if you’ve abused human rights and that is shown to be the case you are not welcome in this country.”
Catalan Dragons survive London Broncos fightback - BBC News
Catalan fought off a spirited second-half comeback by London Broncos to move up to third in Super League.
First half scores from Lopini Paea, Leon Pryce (two) and Remi Casty, all converted by Scott Dureau, gave the French side a 24-0 half-time lead.
London came back after the interval and Antonio Kaufusi, Ben Bolger and Chad Randall crossed to give them hope.
But it was not to be for Broncos as Casty, Steve Menzies and Jamal Fakir all went over to secure victory.
London Broncos' Shane Rodney spills the ball
Broncos were looking for just their third Super League victory of the season and their first since hammering Wakefield 36-0 in March.
Despite being the first game on in the second day of the Magic Weekend programme, the match was attended by an encouragingly-sized crowd in the Etihad, as many fans arrived early to enjoy the excellent conditions.
The Perpignan side had run in seven tries in a comprehensive 36-18 victory in London last month but had to weather early pressure from the strugglers before taking the lead when Paea crashed over from close in following Dureau's neat hand off.
Before Broncos had a chance to recover they were further behind, Pryce waltzing past a static defence after Catalans had regained possession from a London error.
The two sides were separated by 16 points at kick off and it was becoming increasingly apparent why, prop Casty barging in after poor defence from an up and under by Pryce.
Pryce effectively put the game beyond Rob Powell's side after he finished between the posts following Steve Menzies' quick hands on Dureau's kick into space.
With the first attack of the second period, Kaufusi got London on the scoreboard, going over from close in from Chad Randall's pass.
Ian Henderson tackles London's Chris Melling
The arrears were further reduced soon after thanks to Bolger's score from Mark Bryant's good hands under pressure.
Improbably, Randall then dived over from dummy half, after Catalans had forward Jason Baitieri sin-binned for a late challenge on Craig Gower, and Shane Rodney kicked his third conversion to reduce the deficit to 24-18.
Powell's side, winless since the Challenge Cup victory over Batley on 29 April, were in the ascendency but, before they could mount a further attack to level the match, Casty powerfully forced his way across from the 10 to give Trent Robinson's side much needed breathing space once more.
That score changed the complexion of the game and veteran Menzies finished off despite being under heavy pressure from two Broncos players as the French side ran in their sixth try.
With the Broncos looking deflated it was Fakir who grabbed perhaps the best try of the day to round off the win, diving over after an incisive attack cut through the London backline.
Catalans' victory means they close the gap on current leaders Warrington to just one point, having played one game less.
VIEWS FROM THE DRESSING ROOM
Catalan Dragons coach Trent Robinson said:
"We defended well in the first half but we lost a bit of that in the second and that was disappointing.
"I thought that Jason Baitieri hit Gower late but I think it's a poor rule that it's an automatic sin bin. It was silly but not dangerous.
"Jamal Fakir has been in good form all season and it looks like a groin injury. How bad it is, I don't know.
"Our front row group were outstanding. I thought Scott Dureau and Leon Pryce played well but I always judge them slightly harder because of their ability."
London Broncos coach Rob Powell said:
"At 24-18 I really thought we had the chance to go on and win the game.
"It was disappointing to get caught out the way we did when we'd come back so well.
"At half-time we talked about pride and fighting back. We know Catalans are capable of putting 60 or 70 points up.
"We just need to keep working hard and keep believing in what we're trying to achieve here."
SUNDAY'S LINE-UPS
Catalan Dragons: Greenshields, Bosc, Duport, Pala, Stacul, Pryce, Dureau, Paea, Fisher, Casty, Menzies, Anderson, Baitieri.
Replacements: Raguin, Henderson, Simon, Fakir.
London Broncos: Robertson, Dixon, Caro, O'Callaghan, Channing, Sarginson, Gower, Kaufusi, Witt, Wheeldon, Rodney, Melling, Clubb.
Replacements: Randall, Lovell, Bryant, B. Bolger.
Referee: James Child (Dewsbury)
London 2012 Olympics: Jessica Ennis admits to psychological advantage over rival Nataliya Dobrynska - Daily Telegraph
The key now was to maintain her physical condition without risking the kind of devastating injury that wrecked her Olympic dreams four years ago when she suffered multiple stress fractures in her right foot at the same Gotzis meeting.
“I am going to train sensibly,” she said. “I have done a big block of my work now, so it is freshening up, sharpening up and getting race sharp. It’s about raining sensibly and trying to push things a bit as well. It’s nice to be here in Olympic year and not be injured and have a great result as well.”
She said her recent defeats had been an impetus to work harder in training, and the weekend had reassured her that everything was going in the right direction.
“Everything happens for a reason,” she said. “Last year didn’t go to plan but it gave me a reason to work hard, so now I am just going to keep doing what I have been doing and believing in what I have been doing. Hopefully, I’ll get it right in London
“I did worry a bit, but I had to believe that I have all the components to make it work and make a big score.
“I have worked so hard over the past few weeks since the indoor season, so to actually come here and see all that come together was brilliant.”
Ennis said her next competition would be the Bislett Games in Oslo on June 7, where she would be taking part in the 100 metres, before she gets ready for the UK Olympic trials in Birmingham.
Although she predicted that her rivals would come back stronger in London, she believes there is still room for improvement in her own performance.
“There is definitely more to come,” she said. “Not hundreds and hundreds of points, but little improvements. I am 26 now, and I have always said that is a good age, but maybe there’s a little bit more.”
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