Markets

Singapore

Singapore’s economy grew at a record pace in the first half of the year, in the latest sign that Asia is leading the global economic recovery. The city state posted growth of 18.1 per cent in the first half of the year compared with the same period last year, according to government data released on Wednesday. The economy grew on the back of strong exports and tourism generated by the opening of two casino resorts in the second quarter. Ben McLannahan analyses the amazing performance of the tiny city-state.