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The Week In Numbers: Bank In Crisis

The world’s oldest bank, Monte dei Paschi di Siena, could need an immediate injection of €6.5 billion to plug a capital shortfall. It is hoped that the rescue of Italy’s third-largest bank could help restore confidence in the country’s banking system. Mama Mia.

Some two-thirds of Singapore businesses expect the tough conditions of 2016 to continue in 2017. According to the Singapore Business Federation, some of the key challenges include operating costs and manpower issues such as labour costs, manpower laws and attracting and retaining younger workers.

The price of a barrel of oil climbed above $56 a barrel on hopes that OPEC will cut production in the 2017. Brent Crude was up 36 cents to $56.45 a barrel, while West Texas Intermediate rose 27 cents to $54.17 a barrel. Could be good news for Keppel Corporation (SGX: BN4) and Sembcorp Marine (SGX: S51).

There was a 3.2% rise in passenger numbers at Changi airport in November. The airport said it handled 4.78 million passengers last month. Visitors from China led the pack with a 13.7% growth, while Vietnam saw a 9.9% gain. Airport services company SATS (SGX: S58) could be delighted by the news.

And finally, the Japanese economy is finally showing signs of a pickup. Industrial production rose 1.5% in November, inventory levels are down and retail sales are up from a year ago. This could suggest a broad-based recovery of the Japanese economy. But it could also mean that the Bank of Japan could hold off monetary stimulus in the coming months.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo doesn’t own shares in any companies mentioned. Motley Fool Singapore has recommended SATS.