PRESS DIGEST - Philippine newspapers - June 30

MANILA, June 30 (Reuters) - These are the leading stories in Manila newspapers on Monday. Reuters has not verified these stories.

- Divers were poised to cut through the hull of the sunken Princess of the Stars today to remove 10 tonnes of toxic pesticide from the vessel and allow the retrieval of hundreds of bodies feared trapped on the capsized ferry. (PHILIPPINE DAILY INQUIRER, THE PHILIPPINE STAR, THE MANILA TIMES, BUSINESSWORLD)

- There are no nuclear armaments on board the aircraft carrier USS Ronald Reagan that is currently helping relief efforts in the central Philippines, U.S. Ambassador to the Philippines Kristie Kenney said. (PHILIPPINE DAILY INQUIRER, THE PHILIPPINE STAR)

- Jeepney groups said they will ask regulators to allow them to increase fare by 3 pesos ($ 0.02) to help them cope with rising fuel prices. (THE PHILIPPINE STAR)

* * * * * * * *

BUSINESS

- The National Food Authority expects to incure some 18 billion pesos in losses this year from its subsidising activities alone, a senior agency official said. (PHILIPPINE DAILY INQUIRER)

- Food and beverage giant San Miguel Corp (SMC.PS) is implementing a corporate restructuring plan that may require a partial divestment in major subsidiaries such as beer, food and packaging units, documents filed with Securities and Exchange Commission showed. (MANILA STANDARD TODAY)

- The government is expecting to reduce the country's debt-to-GDP ratio to 50 percent this year, which it considers manageable based on international standards, the Department of Finance said. (PHILIPPINE DAILY INQUIRER, THE PHILIPPINE STAR, MANILA STANDARD TODAY)

($1 = 44.79 Philippine peso)

(Reporting by Karen Lema)