Tag Archives: Singapore Business Environment

S’pore pips London as No 2 financial hub

Posted on 31 Oct 2009 | Comments Off on S’pore pips London as No 2 financial hub

New York stays clear favourite in global survey of investor choice

SINGAPORE has emerged as the second leading global financial centre after New York.

While New York has withstood the worst economic crisis in seven decades, London slipped behind Singapore as investors’ preferred place for doing business, according to a global survey.

Some 29 per cent of respondents in the quarterly Bloomberg Global Poll of investors, traders and analysts say that New York will be the best place for financial services two years from now. ‘Despite the carnage of 2008, I still expect the ‘new new’ thing in financial services to be developed and nurtured here (New York), and ultimately exported to the world,’ says Peter Rup, a fund manager at Artemis Wealth Advisors in New York.

Singapore is chosen by 17 per cent of the respondents and London is the pick of 16 per cent. Shanghai has 11 per cent. Tokyo, once considered a global hub, gets the nod from just one per cent.

On a separate question, respondents say that China, Brazil and India offer investors the best opportunities for making money. The US, Europe and Japan are seen to have less potential. Continue reading →

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Survey ranks S’pore as world’s No.2 best place to do business

Posted on 31 Oct 2009 | Comments Off on Survey ranks S’pore as world’s No.2 best place to do business

Singapore overtook London as the investors’ preferred place for doing business in a Bloomberg Global survey.

Singapore was chosen by 17 per cent of respondents who said it was the second best place for financial services two years from now.

New York, despite being battered by the financial crisis, remained the world’s leading financial centre with 29 per cent of the votes. London was in third place, garnering 16 per cent of the votes.

Analysts said Singapore is growing in popularity as companies look for ways to tap the wealth accumulated in China and the rest of Asia. Respondents also favoured Singapore because it is well organised and efficient.

Private wealth management, in particular, is growing in Singapore – which has no capital-gains tax.

Shanghai was also popular, with 11 per cent of the votes, largely due to China’s huge growth potential.

Meanwhile, Tokyo – which was once considered a global hub – received the nod from only one per cent of respondents.

The quarterly survey, which was conducted in early October, polled over 1,400 Bloomberg subscribers in six continents.

Source : Channel NewsAsia – 30 Oct 2009

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