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Asia
iSoftStone's Q1 Loss Balloons Despite Revenue Growth; Shares Down 7%
iSoftStone Information Technology (SHE:301236) posted first-quarter net loss attributable to shareholders of 349.9 million yuan, widening from a loss of 197.7 million yuan in the same period the previous year.Loss per share ballooned to 0.35 yuan from 0.21 yuan, according to a filing with the Shenzhen bourse on SaturdayThe IT service and consulting company's revenue, however, jumped 16% to 8.12 billion yuan from 7.01 billion yuan a year prior.iSoftStone's shares slumped 7% in late-afternoon trade on Monday.
$SHE:301236
Asia
ChinaLin Securities Q1 Profit Slides 9%, Revenue Rises 15%
ChinaLin Securities (SHE:002945) posted first-quarter attributable net profit of 93.8 million yuan, down 9.0% from 103.0 million yuan the previous year.Earnings per share declined to 0.0347 yuan from 0.0382 yuan, according to a weekend filing on the Shenzhen bourse.The securities broker's operating revenue climbed 15% year over year to 373.9 million yuan from 324.6 million yuan.
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International
Philippine Business Sentiment Drops Sharply in March Amid Middle East Tensions
Philippine business sentiment deteriorated sharply in March as concerns over higher fuel costs stemming from Middle East tensions dampened outlook, The Bangko Sentral ng Pilipinas survey showed Friday.The confidence index plunged to -24.3% from 8.2% in February, while the outlook for the next quarter fell to -17.3% from 37.4%.The 12-month outlook remained positive but weakened significantly to 11.7% from 51.1%, reflecting worries over geopolitical risks and ongoing inflation, the central bank said.Hiring plans also softened for both the coming quarter and year, indicating slower job growth ahead.Firms expect inflation to rise above the central bank's 3% target but stay within its allowed range, with the central bank ready to act if pressures increase., the report said.
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