PRESS DIGEST-Philippine newspapers - April 1

MANILA, April 1 (Reuters) - These are the leading stories in Manila newspapers on Tuesday. Reuters has not verified these stories.

- The Philippines may receive as much as $700 million in grants from the Millennium Challenge Corp if the U.S. government corporation approves a list of anti-corruption and socio-economic projects to be proposed by the administration in the coming weeks, Finance Secretary Margarito Teves said.

- Two out of every three Filipinos believe the economy has worsened in the last three years while seven out of every 10 consider themselves to be poor, a survey by independent pollster Pulse Asia showed. (THE PHILIPPINE STAR, MALAYA, PHILIPPINE DAILY INQUIRER, THE MANILA TIMES)

- The presidential palace wants to stop prime farmland being used for anything other than agriculture to avert a possible rice shortage, Economic Planning Secretary Augusto Santos said. (THE MANILA TIMES)

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BUSINESS

- The Manila Economic and Cultural Office said Taiwan companies poured $782.3 million into the country in 2007, with manufacturing and mining investments accounting for the bulk of that. (THE PHILIPPINE STAR, BUSINESSWORLD, MALAYA)

- Basic Energy Corp (BSC.PS) is studying the possibility of supplying Chevron Philippines with 25 million to 50 million litres of bioethanol annually. (THE MANILA TIMES, MALAYA, MANILA STANDARD TODAY, PHILIPPINE DAILY INQUIRER)

- Philippine telecom operator Bayan Telecommunications reported that its 2007 net profit grew 319 percent from 526 million pesos ($12.6 million) in 2006. (PHILIPPINE DAILY INQUIRER, THE PHILIPPINE STAR) ($1=41.76 pesos) (Reporting by Karen Lema)