A leader has been toppled after an 11-year stint at the top.
New Zealand is the aggressor that managed to unseat Singapore from the No. 1 position in the ranking of countries allowing businesses to go about their business with ease.
The news of a new leader, first reported by Benzinga, is based on an index called the "Ease of Doing Business Index" compiled by the World Bank and released annually. The bank takes into consideration parameters such as simpler regulations for businesses and strong protection of property rights among other parameters to arrive at the index.
The Doing Business Report was first released in 2003, and has since then become an annual affair. The findings from the report help to highlight the red tape prevalent in countries and promote reforms when there is an inadequacy.
The Doing Business 2017 report looked at 190 economies of the world.
European countries fared better, with Denmark, Norway, UK, Sweden and Macedonia all finding their place among the top 10 nations. New Zealand, Singapore (which has been relegated to the second spot), Hong Kong, the Korea Republic and the US made up the rest of the slot in the top 10.
At last check, iShares MSCI New Zealand Invest ETF (NASDAQ: ENZL) was up 1.12 percent at $43.35.
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