Singapore Best-Value City for Foreign Business: Chart of the Day
The CHART OF THE DAY shows the total costs to set up a business in 10 major cities, comprising home and office rentals, and related transaction costs, divided by per-capita gross domestic product of a city or country, which is an indicator of business potential. Singapore’s ratio of 16.1 was the lowest, while the 74.7 score for India’s business capital ranked it last on the “value for money” scale, the London-based property broker said.
Standard Chartered Plc has the global headquarters of its private bank and its biggest trading floor in Asia in Singapore, which was ranked as the easiest place to do business for seven straight years by the World Bank. The island-nation has also become a commodities hub as Asia’s biggest oil-trading market for BHP Billiton Ltd., Exxon Mobil Corp. and Chevron Corp. It overtook Japan as Asia’s biggest foreign-exchange center for the first time as of April, the city’s central bank said earlier this month.