Manila Water cuts rates in 3rd qtr
MORE than three million customers in Metro Manila’s east zone will enjoy a slight reduction in their water bills by the third quarter of this year.
Manila Water Co Inc. (MWC) said rates from the recently approved Foreign Currency Differential Adjustment (FCDA) will be lowered to P0.21 from P0.22 per cubic meter, starting on July 2 until the end of September.
Meralco eyes to refinance up to P8.5B worth of loans
Power distributor Manila Electric Co. (Meralco) is looking to raise funds to refinance loans due in 2009 and 2013.
Meralco treasurer Rafael Andrada said the company may raise funds for about P2.5 billion worth of syndicated loans that will have to be paid by the end of the year, and another P5 to P6 billion that will fall due by 2013.
National Reinsurance to offer cash dividend
THE board of National Reinsurance Corp. of the Philippines (PhilNaRe) on Wednesday approved a cash dividend of P86.3 million or P0.04 per share.
In a disclosure to the Philippine Stock Exchange, the listed reinsurer said dividends will be paid to shareholders on record as of July 3.
Reinsurance is the practice of spreading risks by businesses in the insurance business. PhilNaRe provides life and nonlife reinsurance to the Philippine and neighboring insurance markets.
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