Singapore easiest place to do business

Singapore is the world's easiest place to do business, ahead of New Zealand and the U.S., according to a World Bank report.

Hong Kong, Denmark, Britain, Ireland, Canada, Australia and Norway were also among the top 10 most business-friendly economies, according to the World Bank and the International Finance Corp.'s Doing Business 2009 report released Wednesday. It ranks 181 economies based on the ease of conducting business, including starting a company, hiring workers, taxes and investor protection. Azerbaijan, Albania and Kyrgyz Republic were the top three reformers as they eased business rules. China was the leader among large emerging markets in making it easier for businesses.

"Among the large emerging markets, China led the way -- reforms there made it easier to access credit, pay taxes and enforce contracts," the report said.

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