PRESS DIGEST - Philippine newspapers - Nov 11
MANILA, Nov 11 (Reuters) - These are the leading stories in Manila newspapers on Tuesday. Reuters has not verified these stories.
- Former agriculture secretary Jocelyn Bolante, suspected of diverting fertiliser money to finance the candidacy of President Gloria Macapagal Arroyo in 2004, promised to attend the Senate inquiry on the multi-million pesos fertiliser fund scam. (PHILIPPINE DAILY INQUIRER, THE PHILIPPINE STAR)
- Environment Secretary Lito Atienza assured investors on the Philippine island of Boracay the government will not seize their properties despite a Supreme Court ruling that the government owned the land. (PHILIPPINE DAILY INQUIRER)
- Government forces clashed anew with more than 200 Moro Islamic Liberation Front (MILF) rebels in the outskirts of Lanao del Sur province on the island of Mindanao, a military spokesman said. (THE PHILIPPINE STAR, MALAYA, BUSINESSWORLD)
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BUSINESS
- Globe Telecom (GLO.PS), the Philippines' second-largest phone firm, plans to spend less on projects next year, as it anticipates slower demand because of the U.S.-led global economic slowdown, company officials said. (BUSINESSWORLD)
- The Energy Regulatory Commission denied Manila Electric Co's (MER.PS) request to defer the implementation of a 3.9 billion peso ($80 million) refund for customers from overpayments in June 2003 to December 2006 related to foreign exchange adjustments. (ALL PAPERS)
- President Gloria Macapagal Arroyo backed the proposal of the Philippine Stock Exchange to lower taxes on stock trading transactions to lure more investors into the country amid the current market slump. (PHILIPPINE DAILY INQUIRER, MANILA STANDARD TODAY)
($1 = 48.46 pesos)
(Reporting by Karen Lema; Editing by Ben Tan)
