Singapore passes bill to vet company buyouts for national security

SINGAPORE -- Singapore lawmakers on Tuesday passed a bill that gives its Trade and Industry Minister what some call "sweeping powers" to check or block buyouts of companies if the acquisitions are deemed to be a risk to "national security."

The move marks a tightening of regulations as scrutiny rises over foreign ownership of local companies which could play a significant role in the city-state's economy, at a time when economic security is becoming more critical for countries amid geopolitical tensions and other uncertainties.