Declining tourism, rising inflation, fluctuating exports, dropping property prices, unsure COE prices, and allegations of being a tax-haven. These dominated the business headlines in Singapore this year. Singapore Airlines, one of country's success stories, went for an business overhaul and entered into a joint venture with India's big business house Tata. Finally, when on October 22, Monetary Authority of Singapore (MAS) announced the Chinese decision to extend its prized offshore renminbi scheme to the city-state, it highlighted Singapore's success in balancing its economic relationships with China and Taiwan. Singapore-Taiwan free-trade agreement was signed two weeks later.   

In a irony of sorts, the same year government launched a five-year National Cyber Security Master-plan 2018 “to further secure Singapore's cyber environment”, the country faced it's biggest-ever hacker attack in November, where government, town council and media websites were compromised within days. Even school websites were not spared. Reports of sensitive financial data belonging to Standard Chartered bank being stolen also surfaced. The Edward Snowden saga reached Singapore's shores as well when leaked NSA maps published by few international media organisations in November alleged that Singapore is a key “third player” supporting the United States “Five Eyes” surveillance network; which the Singapore government denied. Also, the government's new licensing regime for online “news” websites announced in May remained controversial throughout the year. 

The year ended with a bang, quite literally, as Singapore witnessed its first riot in over 40 years, bringing the issue of foreign workers conditions in the city-state to the forefront again. Amid reports that not many in Singapore are giving a weekly rest day to their maids, the traditional sources to bring maids in the city-state such as the Philippines and Indonesia dried up, which lead to maid recruitment agencies turning to new sources including Myanmar and Cambodia. For construction workers too, new countries such as Sri Lanka were being explored. In a positive development, about 7,500 Marina Bay Sands employees were offered union membership in October after two-year-long lengthy negotiations.