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Today is the first day of Chinese New Year (or Lunar New Year, as it is also called, probably to be more inclusive). While this is not a whole week of public holidays (as it is in Mainland China), it does seem to be the most important holiday of the year here in Singapore, more so than Deepavali, Christmas and the other New Year. It certainly completely eclipses Valentine's Day, especially this year as they fall on the same date.
This year will be the Year of the Tiger.