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IoM in bottom half of finance centres

Moves down one place to 57th

The Isle of Man has fallen slightly in the latest league table of world business centres.

City think tank Z/Yen has released its 23rd edition of the Global Financial Centres Index, which compares the institutional might of 96 cities and jurisdictions.

Researchers have been refreshing the list since 2007, and this year sees the inclusion of several new global financial powers including New Delhi, Baku and Tianjin.

In a year which saw confidence in low-tax islands rattled by the Paradise Papers, there has been something of a sea change - with Guernsey and the British Virgin Islands slipping down the rankings substantially.

But the Isle of Man has come off more mildly, moving down one place to 57th.

Jersey moves up the table to 39th.

The list is compiled using open data from the World Bank, the Economist Intelligence Unit, and the European Union - which last year placed the Isle of Man on its 'grey list'.

Despite an overall volatile outlook for Europe, London continues to top the table.

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