14 Dec '11, 5am

Singapore places 4th in global financial system health survey

Singapore places 4th in global financial system health survey

Singapore ranked fourth in an annual survey measuring financial system health, while Hong Kong took top honours. -- ST PHOTO: ALPHONSUS CHERN HONG KONG (AP) - Singapore ranked fourth in an annual survey measuring finanicial system health, while Hong Kong took top honours. The survey found that Hong Kong has the world's best developed financial system, the first time an Asian financial centre has taken the top spot. The World Economic Forum said on Tuesday that Hong Kong jumped up from fourth place last year, overtaking the United States and the UK, thanks to strong scores on non-banking financial services such as initial public offerings and insurance. Singapore slipped one spot to fourth but other major Asian economies moved up in the rankings of 60 markets.

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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