S'pore is No 1 in e-readiness in Asia

The results are part of a survey by the Economist Intelligence Unit (EIU), which rated the business environments of 60 countries worldwide for their ability to use the Internet to tap into the global market.

The US, Australia and Britain took the global top three places, with Nordic countries coming in fifth, sixth, eighth and ninth, "thanks to their sophisticated telecom systems and gadget-savvy populations", EUI said.

Surprisingly, gadget-loving Japan, which is also in the process of exporting its popular i-mode mobile Internet service to other countries, weighed in at eighteenth in the world listings, behind Taiwan, which tied for sixteenth place with Austria.

Obviously, Japan, the world's second largest economy, is not embracing the EIU's idea that "for many, e-business represents a chance not only to connect with the rest of the world but also to improve their competitive position".

Italy is another laggard in the cyber-business rat race, trailing broadband-crazy South Korea, The Straits Times reported.