Morning business news round-up for May 15, 2014

SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.

1. Olam posts jump in Q3 net profit on fair value gain; revenue up 2.5%. But excluding exceptional items like the fair value gain, operational net profit would have fallen 7.9 per cent to $276.9 million, driven by higher depreciation and amortisation and tax expenses.

2. Swiber's Q1 net profit doubles to $66m on sale of subsidiaries. The Singapore-listed offshore construction and services support provider said on Thursday that earnings jumped 106.4 per cent in the first three months of the year over the previous year.

3. Japan's economy grows 1.5% in January-March. The rise marked the sixth consecutive quarter of growth, and was also the fastest growth since the July-September quarter of 2011.