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Daily Debrief: What Happened Today
Global economic risks may have risen but there's no need to overreact just yet, said Singapore's central bank chief Ravi Menon. Mr Menon struck a relatively upbeat outlook for the world economy, cutting through the gloom that's followed escalating trade tensions between the US and China, among Singapore's largest trading partners, and a global emerging-market rout.
An accelerator programme for medical device, digital health and diagnostic startups was launched on Wednesday at the Asia Pacific MedTech Forum. The MedTech Innovator Asia non-profit programme is the Asia edition of the US-based MedTech Innovator.
MindChamps PreSchool has signed Malaysian education group Victoria Education as a master franchisee, marking the Singapore early-education group's first expansion across the Causeway. With the deal in place, MindChamps plans to launch 20 international preschools in Malaysia by 2024, the company announced on Wednesday. MindChamps also has franchise deals in the United Arab Emirates, Vietnam, the Philippines and Myanmar, and owns and operates 10 centres in Australia.
Hong Kong will add artificial islands to counter a runaway property market that's made the city the world's least affordable for housing. The government will aim to reclaim 688 hectares off Lantau Island, the city's Chief Executive Carrie Lam said Wednesday in a policy address. That compares with the 676 hectares of extra land that a previous government report estimated the city needed through 2046.
The STI today
Share prices on the Singapore bourse closed lower on Wednesday, with the key Straits Times Index down 35.12 points, or 1.11 per cent, to 3,131.48.