S Korean economy

SEOUL: South Korea’s economy grew by four per cent year-on-year in the first quarter as strong exports and corporate spending offset a manufacturing slowdown. GDP expanded by 0.9 per cent from the fourth quarter of 2006. The quarterly annualised growth rate was the same as for the previous quarter. — AFP

First green skyscraper

DUBAI: Dubai is planning to build the world’s first ‘green’ skyscraper that will produce more electricity than it actually uses as part of the emirate’s efforts to remain an international trendsetter in building technology. The 312-metre high skyscraper will feature revolving floors with the entire building equipped with wind turbines and solar energy panels that will make it independent of outside energy sources. — DPA

V’nam trade deficit up

HANOI: Vietnam’s trade deficit has widened to $2.26 billion so far this year as construction material and machinery imports for new factories and power plants have surged. While exports for the four-months to April 30 grew by 22 per cent year-on-year to $14.51 billion, imports rose by 32.8 per cent to $16.77 billion. — AFP

P’pine imports rise

MANILA: Philippine imports rose by 9.9 per cent from a year earlier to $3.69 billion in February. Imports outpaced the 7.8 per cent growth in exports in the same month to $3.72 billion, leading to a surplus of $27 million in February. Imports of mineral fuels, lubricants and related materials rose by 3.5 per cent. — AFP

Japan’s trade surplus

TOKYO: Japan’s trade surplus with the rest of the world grew by 73.9 per cent in March, a faster-than-expected increase largely led by strong auto and semiconductor exports. The unadjusted surplus rose to $13.77 billion from a year earlier. — AP