18 Oct '16, 9pm

via @markets

via @markets

Customers have dwindled by the week at Indian Masala Hut, a curry stall in Singapore’s shipyard heartland. Manager K. Muralidoss blames the slump in oil rig-building that led to the elimination of thousands of jobs, many held by workers from India and Bangladesh. “The lunchtime crowd has more than halved,” Muralidoss says, surveying the almost-empty Benoi Road food court, where only four of 12 hawker stalls were open one afternoon last week. As recently as September, he was busy filling orders from companies trying to sate hungry laborers working overtime. “That has come down quite a bit because there are fewer projects being worked on.” More than $400 billion of proposed energy projects worldwide have been delayed since mid-2014 and pushed into 2017 and beyond, according to consulting firm Wood Mackenzie Ltd. In Singapore, the global center for oil-rig construction for de...

Full article: http://www.bloomberg.com/news/articles/2016-10-18/singapo...

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