Financial TimesFinancial Times

Takeover contest puts spotlight on Singapore

By Mercedes Ruehl

09 Nov 2021 · 3 min read

Singapore might be reluctant to say it openly, but the city-state sees a huge opportunity to try to seize the crown of leading international financial centre in Asia with rival Hong Kong suffering from political tensions and pandemic restrictions.

Much is going to plan. It has opened its borders to tourists and business travellers from countries including the UK, US, Canada and many European nations. Its regulators have created structures aimed at luring bankers and asset managers from Hong Kong and set rules that could allow the city to become a global cryptocurrency centre.

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