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Moscow is world's most expensive city again · 2007-06-19 11:19
Moscow is the world's most expensive city for the second year in a row, thanks to an appreciating ruble and rising housing costs, a new survey reports.
The cost of living for expatriates in the Russian capital is nearly 35 percent higher than in New York, which served as the base city for the survey released Monday.
London, estimated at 26 percent more expensive than New York, climbed three spots to second place on a strengthening British pound and steep rental prices.
South Korea’s Seoul ranked third, followed closely by Tokyo at No. 4, China Daily informs.
The survey by Mercer Human Resource Consulting ranked 143 cities around the world, measuring the comparative cost of more than 200 areas such as housing, transportation and food. The findings are designed to help multinational employers determine compensation for their expatriate workers.
A strengthening euro boosted 30 European cities to top spots on the 2007 list ??“ Copenhagen, Geneva, Zurich and Oslo, respectively, placed among the top 10.
Eight Asian cities made the top 50, though Taipei, Taiwan, plunged 20 places to No. 48.
New York and Los Angeles were the only two North American cities to rank among the highest 50, though both fell in the rankings due to a depreciating U.S. dollar, Mercer reported.
Ranking as the least expensive city for the fifth year in a row was Paraguay's capital of Asuncion, where the cost of living is half that of New York.
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Russia’s ex-finance minister Alexei Kudrin criticized on Thursday Prime Minister Vladimir Putin’s remarks regarding the white ribbons worn by protesters at recent nationwide rallies against alleged electoral fraud.
American director Woody Allen began shooting his latest movie in Paris on Monday.
Russian President Dmitry Medvedev on Thursday said a European Parliament resolution calling for new State Duma elections “means nothing.”
After Wimbledon Russian tennis player Maria Sharapova came to Belarus.