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Article: NEWS IN BRIEF; P/$ rate closed at P56.315 to $1.(Business)
- Article from:
- Manila Bulletin
- Article date:
- October 24, 2004
CopyrightCOPYRIGHT 2004 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The peso closed at P56.315 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P56.322.
Nenaco rehab needs P250 million
To get its rehabilitation program rolling, Negros Navigation Company (Nenaco) needs R250 million in cash by mid-2005 to pay for its tax liabilities as well as for the repair and maintenance work on three vessels. Nenaco corporate information officer Willard Mosquito said they had already obtained a R123 million loan from parent company Metro Pacific Corporation and while it hopes to get the balance in the form of another loan or equity infusion. ...