PRESS DIGEST - Philippine newspapers - April 17

MANILA, April 17 (Reuters) - These are the leading stories in Manila newspapers on Friday. Reuters has not verified these stories.

- The Senate minority will seek sanctions against four senators who signed an antedated order, which ruled as sufficient in form the complaint filed against Senator Manuel Villar in connection with the double funding of a road project from which his companies benefited. (PHILIPPINE DAILY INQUIRER)

- The provincial crisis committee negotiating the release of nine people taken hostage by the Abu Sayyaf on the island of Basilan has authorised the military and police to proceed with rescue operations. (THE PHILIPPINE STAR)

- The government is looking for an effective way to impose a ban on the deployment of Filipino sailors in vessels passing through pirate infested waters near Somalia, the presidential palace said. (THE PHILIPPINE STAR)

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BUSINESS

- Business sentiment in the Philippines is inching towards the pessimistic as more investors are choosing to hold on to their cash rather than spend it, a survey by financial services group ING showed. (BUSINESSWORLD)

- Philippine conglomerate JG Summit Holdings Inc (JGS.PS) incurred a net loss of 694 million pesos ($14.5 million) last year due to mark-to-market losses, reversing the 11.37 billion pesos net income recorded in 2007. (BUSINESSWORLD, MALAYA, MANILA STANDARD TODAY, THE PHILIPPINE STAR)

- Top Philippine refiner Petron Corp (PCOR.PS) aims to raise as much as 15 billion pesos this year to finance expansion plans, company president Eric Recto said. (PHILIPPINE DAILY INQUIRER)

($1 = 47.73 Philippine peso)

(Reporting by Karen Lema)