PRESS DIGEST - Philippine newspapers - Feb 26

MANILA, Feb 26 (Reuters) - These are the leading stories in Manila newspapers on Thursday. Reuters has not verified these stories.

- Commission on Elections Chairman Jose Melo warned that a "hybrid" exercise of combined manual and automated counting of votes in the next poll's would only allow for cheating to continue. (THE PHILIPPINE STAR)

- Former President Fidel Ramos criticised President Gloria Macapagal Arroyo for skipping the 23rd anniversary celebration of the Edsa 1 people power uprising. (THE MANILA TIMES, THE PHILIPPINE DAILY INQUIRER, MALAYA)

- Government lawyers said that a U.S. Marine convicted of raping a Filipino woman should remain detained at the U.S. embassy pursuant to a 1998 military pact while waiting for the court's final ruling on his appeal. (BUSINESSWORLD)

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BUSINESS

- The government said it expects to raise 10 billion pesos to 11 billion pesos ($208-228 million) from the sale of its 40 percent stake in oil and gas explorer PNOC-Exploration Corp (PEC.PS) this year. (BUSINESSWORLD, PHILIPPINE DAILY INQUIRER)

- Banco de Oro Unibank (BDO.PS) and the Bank of the Philippine Islands (BPI), together with their foreign partners, have submitted their formal bids for the Philippine American Life and General Insurance Co, sources said. (THE PHILIPPINE STAR, MALAYA, THE MANILA TIMES)

- San Miguel Corp (SMC.PS) has confirmed it is expanding its presence in the telecommunications business which industry observers will be made via a possible investment in an existing mobile phone service company. (THE PHILIPPINE STAR)

($1 = 48.13 pesos)

(Reporting by Karen Lema; Editing by Kim Coghill)