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By Kamyar Shah
New York is officially named the City of New York and is the most populous city in the United States of America. Its business, finance, trading, law and media organizations are influential around globe. The city is one of the world's most important cultural centers with hundreds of world-class museums, galleries and performance venues. New York is also home of the United Nations and is one of the world's major venues for international diplomacy

New York City is a global hub of international business and commerce and is one of three command centers for the world economy, alongside London and Tokyo. The city is a major center for finance, insurance, real estate, media and the arts in the U.S. Additional sectors include the television and film industry, second largest in the country after Hollywood; medical research and technology; non-profit institutions and universities; and fashion. Real estate is a major force in the city's economy. The total value of all New York City property was $802.4 billion. The highest-listed market value in the city is the Time Warner Center, valued at $1.1 billion.

The city's stock exchanges are among the most important in the world. The New York Stock Exchange and the NASDAQ are the world's first and third largest stock exchanges, respectively. Many major corporations have headquarters in New York and the city is unique among other American cities for its large number of foreign corporations. One out of ten private sector jobs in the city is with a foreign company.

Industries such as new media, advertising, design and architecture account for a growing share of employment. High-tech industries like bioscience, software development, game design, and Internet services are also growing.

Manufacturing accounts for a large, although declining, share of employment. Garments, chemicals, metal products, processed foods and furniture are some of the principal products.

New York is a global center for the television, advertising, newspaper and book publishing industries and is also the largest media market in the U.S. Some of the conglomerates include Time Warner, the News Corporation, the Hearst Corporation and Viacom. Six of the world's top ten global advertising agencies are headquartered in New York.

Two nationally daily newspapers in the U.S. are New York papers, The Wall Street Journal and The New York Times. Other newspapers in the city are The New York Daily and The New York Post. The city also has a major ethnic press with 270 newspapers and magazines published in more than 40 languages. El Diario La Prensa is a Spanish newspaper and The New York Amsterdam News is a prominent African-American newspaper. Four major broadcast networks are also headquartered in New York: ABC, CBS, FOX, and NBC. Cable channels including MTV, Fox News, HBO, and Comedy Central are also based in the city.

Culture just seems to be in the air, like part of the weather- Tom Wolfe. The city has more than 2,000 arts and cultural organizations and more than 500 art galleries of all sizes. In the 19th century built a network of major cultural institutions such as the famed Carnegie Hall and Metropolitan Museum of Art. Broadway productions are a mainstay of the New York theatre scene. The city's 39 largest theatres are collectively known as Broadway. The Lincoln Center for the Performing Arts includes Jazz at Lincoln Center, the Metropolitan Opera, the New York City Opera, the New York Philharmonics and the New York City Ballet and is the largest performing arts center in the U.S.

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