PRESS DIGEST - Philippine newspapers - July 4

MANILA, July 4 (Reuters) - These are the leading stories in Manila newspapers on Friday. Reuters has not verified these stories.

- The Philippine ferry MV Princess of the Stars may have been unstable when it sailed, thus dooming it to sink and capsize after being battered by big waves during a typhoon, a member of the Board of Marine Inquiry said. (PHILIPPINE DAILY INQUIRER)

- The Court of Appeals has ordered the freezing of bank accounts of former Agriculture Undersecretary Jocelyn "Jocjoc" Bolante and several others in connection with the alleged misuse of a multi-million peso fertiliser fund. (THE PHILIPPINE STAR, MALAYA)

- The Diosdado Macapagal Airport in Clark, Pampanga, has become the favorite exit point of a big sex syndicate specialising in trafficking of women for prostitution in other countries, Vice President Noli de Castro said. (THE MANILA TIMES)

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BUSINESS

- Alliance Global Group Inc (AGI.PS) said it would invest 3.8 billion pesos ($83.5 million) in an all-suites hotel at its township project in Pasay City. (PHILIPPINE DAILY INQUIRER, THE PHILIPPINE STAR, MALAYA)

- Approved investments in the first five months of the year rose 140 percent to 204.7 billion pesos from the same period a year earlier, with the bulk going into the manufacturing sector, government data showed. (PHILIPPINE DAILY INQUIRER, THE MANILA TIMES, MALAYA)

- Ayala-led Manila Water Co (MWC.PS) has bagged a $15 million leak reduction and management service project in Vietnam's Ho Chi Minh City, the company said. (MANILA STANDARD TODAY, BUSINESSMIRROR)

($1 = 45.5 Philippine pesos)

(Reporting by Karen Lema)