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  Bloomberg Nokia Oyj reported first-quarter sales that topped analysts’ estimates as a slump in wireless-network demand began to ease and the company reaped more revenue for its patents. Revenue fell 4 percent to 5.39 billion euros ($5.9 billion), the Finnish network-equipment maker said on Thursday. Analysts predicted 5.28 billion euros, the average of estimates compiled by Bloomberg. Earnings of ...

  Bloomberg South Korea’s economic growth accelerated in Q1 as a recovery in exports supported investment. Construction investment expanded, while consumption growth remained subdued. Gross domestic product expanded 0.9 percent in first quarter from previous 3 months, when it rose 0.5%, Bank of Korea said. The median estimate of economists surveyed by economists was for 0.8% growth. From a year ...

  Bloomberg China’s plan to build a new city about two hours drive from Beijing has raised hopes it may catalyze better urban design across the nation, enhancing economic efficiency and cutting air pollution. The potential for gains is huge in a country where tens of millions of rural residents will move into urban areas by the end of the ...

  Bloomberg Singapore is creating a S$1 billion ($718 million) fund to help innovative companies develop their businesses and expand overseas, part of the city state’s drive to boost economic growth. The Makara Innovation Fund — a collaboration between the Intellectual Property Office of Singapore and local private equity firm Makara Capital — will invest S$30 to S$150 million each ...

  Bloomberg PayPal Holdings Inc. CEO Dan Schulman is getting investors to embrace his strategy of converting the online payments platform into a digital wallet, even if it requires deal-making that may diminish profit margins. The company reported first-quarter results that showed Schulman’s strategy is working and raised its annual forecast. Sales and profit topped analysts’ projections as PayPal added ...

  Bloomberg US coal has become entangled in a trade war between the US and Canada over lumber. British Columbia Premier Christy Clark urged Canadian Prime Minister Justin Trudeau in an open letter to ban US coal shipments from the country’s westernmost province in retaliation for the Trump administration’s new tariffs on softwood lumber. The move sent Canadian export terminal ...

  Dubai / WAM Emirates NBD, a leading banking group in the region, has signed a Premier Partnership agreement with Expo 2020 Dubai to become its Official Banking Partner. The partnership marks Emirates NBD’s long-term commitment to supporting the growth and development of the UAE, in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, ...

  Dubai / WAM Dubai is poised as the first Arab city to lead the region at par with top global players and ranked fifth on the list of the world’s most competitive and attractive maritime clusters, according to an international survey conducted by Menon Business Economics Group, the globally renowned organisation for benchmarking leading maritime capitals of the world. The ...

  ABU DHABI / WAM Abu Dhabi Ports, the master developer, operator and manager of the Emirate’s commercial and community ports as well as Khalifa Industrial Zone (KIZAD, has announced the launch of the Khalifa Port Free Trade Zone (KPFTZ) the largest free zone area in the Middle East, to the European market at the Hannover Messe exhibition in Germany. ...

  DUBAI / WAM The country’s first solar-powered gas station has been opened by the Emirates National Oil Company (ENOC), in yet a new sign reflecting the country’s increased focus on maintaining the highest standards of sustainability and clean energy. The service station lies on the city’s main Sheikh Zayed Road thoroughfare and is covered with solar panels that can generate ...