News in Brief

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Peso rate at P42.879

The peso reference rate remains at P42.879 to the U.S. dollar, the weighted average rate pegged at the Philippine Dealing System of the Bankers Association of the Philippines last Friday.

Canberra fruit offer studied

Agriculture Secretary Edgardo Angara said the government was studying a proposal by Canberra to hasten testing of Philippine fruit imports, a move which could open the way for pineapple and banana shipments to Australia. He told Reuters that Australian Trade Minister Mark Vaile proposed to speed up testing procedures to pave the way for the entry of Philippine pineapples and bananas into Australia. "He (Vaile) sent me …