PRESS DIGEST - Philippine newspapers - Sept 5
MANILA, Sept 5 (Reuters) - These are the leading stories in Manila newspapers on Friday. Reuters has not verified these stories.
- The Supreme Court upheld its decision that the Senate could not force Romulo Neri, a former economic planning minister, to answer three questions about President Gloria Macapacal Arroyo's instructions to him in connection with a scrapped $329 million telecommunications deal with China's ZTE Corp. (PHILIPPINE DAILY INQUIRER, PHILIPPINE STAR, MANILA TIMES)
- The Moro Islamic Liberation Front is rebuilding its forces, taking advantage of the Muslim holy month of Ramadan to boost its recruitment efforts for a planned counter-offensive, said a military field commander. Fighting erupted again in Mindanao with MILF rebels raining heavy gun fire on military positions in Kabuntalan and Maguindanao.(PHILIPPINE STAR, MANILA STANDARD TODAY)
- Malaya newspaper publisher Amado Macasaet posted a 10,000 peso ($215) bail to avoid being detained after he was arrested by policemen for what he claimed was a resurrection of a nine-year old libel case. (PHILIPPINE DAILY INQUIRER, MALAYA)
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BUSINESS
- The Energy Regulatory Commission has ordered Manila Electric Co. (MER.PS) to open its books for scrutiny by the Commission on Audit to determine if the power distributor's past rate increases were justified. (PHILIPPINE DAILY INQUIRER, MALAYA, PHILIPPINE STAR)
- San Miguel Properties (SMP.PS) is forming a 600 million peso joint venture company with state pension fund Government Service Insurance System to build an upscale hotel in the Makati financial district. (BUSINESS MIRROR, PHILIPPINE DAILY INQUIRER)
- The public sector is expected to post a budget surplus of 25.5 billion pesos next year from a projected deficit of 28 billion pesos this year as state-owned firms boost revenue-raising measures. (PHILIPPINE DAILY INQUIRER)
($1 = 46.54 pesos)
(Reporting by Manolo Serapio Jr.)
