Word: sectoral
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...optimum time," he says, as he prepares to sign up some of the legions of investment bankers, corporate lawyers and fund managers that make the City their home. The reason he's bullish? Demand for office space is tied to the health of London's financial-services sector and, by many measures, the City has never been fitter. The U.K. financial sector contributed 3.5% of Britain's gdp in 2005, a leap from 2.4% in 2000. "You can sense growth taking place," Burgess says. The project, he says, represents, in glass and steel, "confidence in London's financial services...
...London's surging financial-sector fortunes go beyond just its booming stock markets. For evidence of that, take a look down the plush streets of Mayfair. Across town from the city's traditional financial quarter, and nestling between the art dealers and high-end jewelers, London's hedge-fund industry is quietly putting down roots. The city's share of the $1.23 trillion global industry had climbed to around 26% by June last year, up from 21% a year earlier. (In France, Europe's next largest market, assets came in at just 1.7% of the world total.) By clustering close...
...advantages. Not only does London have a "deep pool of talent," says William J. Mills, ceo of Citigroup's Corporate and Investment Banking division for Europe, the Middle East and Africa. But compared with its Continental rivals, it offers "the most flexible labor laws." While the number of financial-sector staff in London rose 4.3% to 318,000 between 2002 and 2005, tough U.S. immigration rules applying to foreign talent helped New York's head count slide by 0.7% over the same period, according to a report published late last month by McKinsey. London's geographic position also allows...
...Congress authorized $8.5 million to build a new amputee center there for the intervening years, but Intrepid's sponsors proved the superiority of the private sector. They outspent the federal facility, made it more high-tech and finished faster - the Walter Reed project began planning well before Intrepid but is still far from finished...
...Sheikh, he's cautiously optimistic. Business is brisk. And he takes heart from Gedi's background as a promoter of the private sector. But he's also decided to limit his time in Mogadishu to two or three years. His experiences, he says, have given him a brand new plan: "Law school...