Daily Briefing: Singapore seen as best business hub after London; Singapore to use data-tracking

And here are 3 things about SGX dual-class share listing.

Singapore is next in line if London loses its status as leading business hub in the world. The Asian island nation ranks behind London as the best global city, PricewaterhouseCoopers LLP said in a new study, based on social and economic data published before the U.K. voted to leave the European Union. The Cities of Opportunity Index places Singapore ahead of Paris and Amsterdam, two European cities that are seeking to attract foreign businesses if they decide to shift jobs out of London. Read more here.

Singapore will step up the fight against money-laundering with a newly created surveillance unit and data tracking but private banks must take the lead, its chief financial regulator said Tuesday. Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) which also serves as the central bank, said financial institutions must set the right moral tone to help battle illicit fund flows. Find out more here.

The Singapore’s stock exchange (SGX) is likely to allow dual-class share structure after given the go-ahead by the Listings Advisory Committee (LAC). Having suffered a 17-year low of $430 million worth of deals in the year 2015, a dual-class shares structure might help lure international businesses to the exchange. With the ongoing debate about the pros and cons of a dual-class share structure, here are 3 interesting facts about dual-class shares structure Singaporeans should know. Read more here.