Mighty Britain shows that, despite its slowing of economic growth in 2005 (but should speed up again in 2006) and slight increase in unemployment, our economy it is still performing magnificently in other areas.
The Times January 24, 2006
Britain tops world in foreign investment
By Gabriel Rozenberg, Economics Reporter
BRITAIN has come top of the international league table of recipients of foreign direct investment (FDI) after an exceptional year in which it benefited from nearly A QUARTER of all cross-border business, the United Nations said yesterday.
The UK received $219 bill-ion (£124 billion) of FDI in 2005, according to preliminary figures from the United Nations Conference on Trade and Development (UNCTAD). That was up by 182 per cent from the $77 billion recorded in 2004 and was eight times the $27 billion in 2003. It was also the highest figure EVER RECORDED for a European country.
It was the first time since 1977 that Britain has been the top recipient of foreign investment, UNCTAD said. However, the rise in flows was accounted for largely by the merger of the oil giant Shell with Royal Dutch Petroleum, for about $100 billion.
But even excluding that deal, Britain was still ahead of its nearest rival in FDI, the United States, which benefited from flows of $106 billion, slightly up from the previous year. FDI worldwide rose by 29 per cent to £897 billion as a four-year slump in flows to developed nations was sharply reversed. A spate of crossborder mergers and acquisitions helped to fuel growth in FDI in the developed world.
FDI in developed countries was also influenced by the virtual end of large loan repayments from affiliated firms to their parent firms abroad.
Mergers and acquisitions, including cross-border deals, jumped 40 per cent to $2.9 trillion, partly driven by high stock market prices. Inflows to the ten new European Union members rose by 36 per cent to a record $38 billion.
FDI inflows to emerging economies rose 13 per cent to $274 billion and hit a record high of $28.9 billion in Africa, with the lion’s share going to South Africa, Egypt and Sudan.
*A renewed surge in trading activity on London’s foreign exchanges last year extended the City’s lead as the world’s pre-eminent centre for currency dealing, Bank of England figures suggested. Average daily turnover during October was 31 per cent up on a year earlier, at $862 billion.
*UK ranks 4th in the world in R&D, behind the US, China and India.
timesonline.co.uk
The Times January 24, 2006
Britain tops world in foreign investment
By Gabriel Rozenberg, Economics Reporter
BRITAIN has come top of the international league table of recipients of foreign direct investment (FDI) after an exceptional year in which it benefited from nearly A QUARTER of all cross-border business, the United Nations said yesterday.
The UK received $219 bill-ion (£124 billion) of FDI in 2005, according to preliminary figures from the United Nations Conference on Trade and Development (UNCTAD). That was up by 182 per cent from the $77 billion recorded in 2004 and was eight times the $27 billion in 2003. It was also the highest figure EVER RECORDED for a European country.
It was the first time since 1977 that Britain has been the top recipient of foreign investment, UNCTAD said. However, the rise in flows was accounted for largely by the merger of the oil giant Shell with Royal Dutch Petroleum, for about $100 billion.
But even excluding that deal, Britain was still ahead of its nearest rival in FDI, the United States, which benefited from flows of $106 billion, slightly up from the previous year. FDI worldwide rose by 29 per cent to £897 billion as a four-year slump in flows to developed nations was sharply reversed. A spate of crossborder mergers and acquisitions helped to fuel growth in FDI in the developed world.
FDI in developed countries was also influenced by the virtual end of large loan repayments from affiliated firms to their parent firms abroad.
Mergers and acquisitions, including cross-border deals, jumped 40 per cent to $2.9 trillion, partly driven by high stock market prices. Inflows to the ten new European Union members rose by 36 per cent to a record $38 billion.
FDI inflows to emerging economies rose 13 per cent to $274 billion and hit a record high of $28.9 billion in Africa, with the lion’s share going to South Africa, Egypt and Sudan.
*A renewed surge in trading activity on London’s foreign exchanges last year extended the City’s lead as the world’s pre-eminent centre for currency dealing, Bank of England figures suggested. Average daily turnover during October was 31 per cent up on a year earlier, at $862 billion.
*UK ranks 4th in the world in R&D, behind the US, China and India.
timesonline.co.uk
