PRESS DIGEST - Philippine newspapers - April 8

MANILA, April 8 (Reuters) - These are the leading stories in Manila newspapers on Tuesday. Reuters has not verified these stories.

- The government has lifted the import restriction on rice and corn to attract more buyers but it has refused to cut import tariffs. It has also tapped the Catholic Church in the distribution of government-subsidised rice, assuring it a weekly allocation of at least 50,000 sacks for the poor in various parishes in Metro Manila. (PHILIPPINE DAILY INQUIRER, THE MANILA TINES, MANILA STANDARD TODAY, BUSINESSWORLD)

- Foreign business groups in the Philippines expressed concern over the slow pace of economic reform, warning that the country was being left behind in the race to attract investments. (THE PHILIPPINE STAR)

- The Senate wants three Supreme Court Justices appointed by President Gloria Macapagal Arroyo to inhibit themselves from acting on its motion asking the court to reconsider its decision on executive privilege. (MALAYA, PHILIPPINE DAILY INQUIRER, THE PHILIPPINE STAR)

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BUSINESS

- The United States has again criticised the Philippines for maintaining numerous trade barriers like import restrictions, a ban on foreigners in a number of industries, and rampant corruption in agencies such as the Bureau of Customs, the U.S National Trade Estimate report said. (BUSINESSWORLD)

- Ayala Corp (AC.PS: Quote, Profile, Research, Stock Buzz) has abandoned plans to enter the power generation and transmission business at present, saying that asset prices at this point no longer reflect their underlying values. (PHILIPPINE DAILY INQUIRER)

- Waterfront Philippines Inc (WPI.PS: Quote, Profile, Research, Stock Buzz) plans to put up a 2,500-room hotel and casino facility within the 40-hectare Bagong Nayong Pilipino-Manila Bay Intergrated Tourism City. (MANILA STANDARD TODAY)