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Weekly Round Up – 4 Things In Finance That Happened This Week

More woes in the oil and gas sector while unemployment rate remains unchanged, a reduction in public transport price in 2017 and a surprise visit from a pair of former Manchester United stars.

 

# 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.

Read Also: 3 Singapore Stocks That Are Badly Affected This Year

# 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.

Read also: 3 Skills For Singaporeans To Stay Employed Anywhere In The World

What are some important finance related news that happened in Singapore this week? Share them with us by leaving a comment on Facebook.

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