Updated: 10/24/2012 07:07

Singapore tops again

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Singapore has topped a global ranking as the easiest place to do business for the 7th straight year.

A report from the International Finance Corporation and the World Bank finds Singapore remains the top economy with the most business-friendly regulatory environment for local entrepreneurs.

Singapore scored well in areas such as cross-border trading regulations, dealing with construction permits and protecting investors.

But, it received lower scoring in areas like registering property, getting credit and enforcing contracts.

According to the "Doing Business 2013" report, Hong Kong was placed second, followed by New Zealand and the US.