# 1 More woes in the shipping and oil and gas sector
The increasing difficulty to meet debt obligations for the maritime and oil and gas sector is casting a shadow over the possibility of a short-term recovery in the market. Container throughput shrank 8.7% last year, coupled with unstable oil price resulted in massive damage to the financial statement of firms within the industries.
With companies such Swissco and Rickmers struggling to repay their investors, the worrying situation does not seem to have an end at least in the new future.
# 2 More reasons to take the public transport to work
Looks like that our constant feedback on public transport fares were being heard. With prices for oil and gas falling since last year, public transport companies will be passing the cost savings down to Singapore starting next year. Singaporeans will enjoy a 4.2 per cent reduction with a possibility of more reduction in the coming years.
# 3 Ryan Giggs and Gary Neville visits Singapore
If you had friends working in Bloomberg Singapore’s office, they may have took the opportunity for a selfie with former Manchester United stars, Ryan Giggs and Gary Neville. The duo are looking to set up their football-themed hotels and cafe in Asia, and Singapore is on their checklist.
# 4 Unemployment rate remains unchanged
Unemployment rate remains unchanged at 2.1 per cent in the third quarter. The manufacturing sector sees the highest reduction in employment rate, with little sign of it turning for the better.
With Singapore’s economy to remain sluggish till year 2017, Singaporeans are in for a long haul and holding on to your job for now will probably be the best advice we can give.
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