PRESS DIGEST - Philippine newspapers - May 29

MANILA, May 29 (Reuters) - These are the leading stories in Manila newspapers on Friday. Reuters has not verified these stories.

- Four more individuals have tested positive for the H1N1 virus, bringing to 10 the number of people infected in the country, Health Secretary Francisco Duque said. (PHILIPPINE DAILY INQUIRER)

- President Gloria Macapagal Arroyo said the merger of the two biggest political parties in the Philippines was "tangible proof" that the 2010 elections will push through. (THE PHILIPPINE STAR, MANILA BULLETIN, THE MANILA TIMES)

- Manila Mayor Alfredo Lim signed a new directive allowing oil companies to keep their oil depots in Manila. (ALL PAPERS)

********

BUSINESS

- Banco De Oro Unibank (BDO.PS) is acquiring the local banking unit of American conglomerate General Electric Co, cementing its position as the country's biggest financial institution. (ALL PAPERS)

- Philippine conglomerate Metro Pacific Investments Corp MPIC.PS is planning to sell up to 2.5 billion shares in a primary and secondary stock offer to raise fresh capital and increase its public float. (MANILA BULLETIN, THE PHILIPPINE STAR, THE MANILA TIMES)

- The government collected 50.78 billion pesos in value added taxes in the first four months of the year, almost 7 billion pesos short of target, data from the Bureau of Internal Revenue showed. (BUSINESS MIRROR, THE MANILA TIMES)

($1 = 47.46 Philippine pesos)

(Reporting by Karen Lema)