PRESS DIGEST - Philippine newspapers - June 24
MANILA, June 24 (Reuters) - These are the leading stories in Manila newspapers on Tuesday. Reuters has not verified these stories.
- The kidnappers of a Philippine television crew and a university professor raked in a total of 20 million pesos ($448,000 in ransom), a lawyer for two of the accused said. (THE PHILIPPINE STAR, PHILIPPINE DAILY INQUIRER, MALAYA)
- The United States dispatched a navy ship and surveillance aircraft from its military command in Hawaii to assist Philippine authorities in scouring the waters off Romblon province in central Philippines for possible survivors from a capsized ferry. (PHILIPPINE DAILY INQUIRER, MANILA STANDARD TODAY)
- President Gloria Macapagal Arroyo wants Congress to approve a bill imposing a price ceiling on rice in times of calamities and another measure that defines rice hoarding and profiteering as acts of economic sabotage. (MALAYA)
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BUSINESS
- A yearend goal of reaching a global trade deal appears out of reach given the lack of consensus and the Philippines may be better off pursuing bilateral agreements, a Philippine trade envoy said. (BUSINESSWORLD)
- Malaysian conglomerate Genting Group and the Philippine-listed Alliance Global Group Inc (AGI.PS) are looking at investing more than $1 billion in a multi-billion dollar casino and tourism complex at the 40-hectare Manila Bay reclamation area. (PHILIPPINE DAILY INQUIRER, THE PHILIPPINE STAR, MANILA STANDARD TODAY)
- The Philippine National Bank (PNB.PS) has raised 6 billion pesos from the offering of subordinated notes boosting its capital base ahead of a merger with Allied Banking Corp (ABS.PS). (PHILIPPINE DAILY INQUIRER, THE MANILA TIMES, MALAYA, MANILA STANDARD TODAY)
($1 = 44.6 Philippine peso)
(Reporting by Karen Lema)
