Tuesday, January 13, 2009


Hong Kong tops ranking for 15th straight year
Michelle Tay

SINGAPORE has again been ranked the world's second freest economy, after long-time rival Hong Kong, which retains the top position for the 15th straight year.

The Republic scored 87.1 on the Index of Economic Freedom, which is published annually by The Wall Street Journal and American conservative think-tank The Heritage Foundation.

Forfeiture action sought against Koko's accounts in Singapore

The US Department of Justice has moved to confiscate nearly $3 million from bank accounts in Singapore, which are allegedly linked to a bribery scandal in Bangladesh, involving Arafat Rahman Koko, younger son of former prime minister Khaleda Zia.