Business

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Alsons Consolidated Resources Inc. (ACR), the publicly listed company of the Alcantara Group, increased its first-quarter profit significantly on the back of larger revenues due to enlarged power assets. In a disclosure to the Philippine Stock Exchange, ACR reported a 59-percent rise in net income attributable to the parent company…

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Listed food and beverage company RFM Corp. on Monday said it posted net income of P167 million in the first three months of the year, up 8.4 percent from last year’s P154 million, thanks to better margins in its core businesses. The company said it expects profits to pick up…

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The Department of Trade and Industry (DTI) recently sent a Philippine delegation to India to learn from that country’s best practices in rubber production that could be applicable to the Philippine rubber industry. Natural rubber is one of the industries being assiduously promoted for development by the Philippine government to…

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SINGAPORE: Oil prices rose in Asia on Monday after pro-Russian rebels in eastern Ukraine claimed a majority of voters in a disputed referendum chose independence, raising fears of a civil war that could disrupt supply. New York’s main contract, West Texas Intermediate (WTI) was up six cents to $100.05 for…

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TOKYO: Japan’s annual current account surplus is the lowest on record, government figures showed Monday, as fossil fuel bills and a sliding yen overshadow rising exports. For fiscal 2013, the value of the goods, services and investments that left Japan exceeded those coming in by 789.9 billion yen, ($7.75 billion),…

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SYDNEY: Dozens of Australian agencies and hundreds of public service jobs face the axe on Tuesday’s budget, with Finance Minister Mathias Cormann saying government was too big, wasteful, and needed streamlining. Cormann refused to confirm specifics of the conservative administration’s first budget since taking office in September, which comes as…

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TOKYO: Nissan said on Monday its full-year net profit jumped 14.0 percent, driven by a recovery in major markets, cost-cutting efforts and the weaker yen, and forecast further marginal improvement this year. Japan’s second-biggest automaker said it earned 389.0 billion yen ($3.8 billion) for the fiscal year to March, after…

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HONG KONG: Asian stocks closed mixed to higher on Monday, despite fears the Ukraine crisis could intensify, as Chinese markets ended sharply up on hopes for market reforms. Despite a positive lead from Wall Street’s Friday close, trading started on a downbeat note after pro-Russian rebels late on Sunday claimed…

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SHANGHAI: Chinese bank lending shrank in April from the previous month, the central bank said Monday, as the government tolerates weaker credit expansion despite the potential impact on economic growth. New yuan loans extended by domestic banks reached 774.7 billion yuan ($124.2 billion) in April, down 17.6 billion yuan from…