PRESS DIGEST - Philippine newspapers - July 9

MANILA, July 9 (Reuters) - These are the leading stories in Manila newspapers on Wednesday. Reuters has not verified these stories.

- The government has approved increases in the fares of public buses, taxis and jeepneys that will take effect on Friday (ALL PAPERS)

- The government is open to a temporary cut in expanded value-added tax on oil but is firm against scrapping the measure as demanded by many sections of society (PHILIPPINE STAR)

- Over 12,000 members of the police and military will be deployed in the Autonomous Region in Muslim Mindanao (ARMM) to ensure peace and security during the August 11 elections in the region (ALL PAPERS)

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BUSINESS

- The government has lowered its economic growth forecasts for 2009 and 2010 to 6.1-7 percent and 6.4-7.2 percent respectively because of the spillover effect of the sharp rise in food and oil prices (PHILIPPINE DAILY INQUIRER)

- Auto sales in June were 1.2 percent lower than May but sales in the first six months were 13.6 percent higher than the same 2007 period, the Chamber of Automotive Manufacturers of the Philippines Inc said (ALL PAPERS)

- Jollibee Foods (JFC.PS) says inflation affects it more on the costs side rather than demand because it receives more higher-income customers as the number of low-wage clients drops (MANILA STANDARD TODAY)

($1 = 45.87 Philippine pesos)

(Reporting by Karen Lema)