PRESS DIGEST - Philippine newspapers - April 10

MANILA, April 10 (Reuters) - These are the leading stories in Manila newspapers on Thursday. Reuters has not verified these stories.

- The National Food Authority has said it is considering an increase in the price of rice that it subsidises from its current level of 18.25 pesos a kilo ($0.44). (ALL PAPERS)

- The head of the armed forces is open to the idea of recommending a pardon for nine officers who were sentenced to long jail terms for mutiny. (THE MANILA TIMES, PHILIPPINE DAILY INQUIRER)

- The Philippine Airforce reported that one of its planes had sighted a new structure on a Vietnam-claimed island in the disputed Spratly chain. (PHILIPPINE DAILY INQUIRER)

********

BUSINESS

- South Korea's Hanjin Heavy Industries (003480.KS) has denied that it had threatened to pull out of multi-billion-dollar shipbuilding projects after claims it had violated environmental provisions. (PHILIPPINE DAILY INQUIRER)

- The International Monetary Fund has lowered its 2008 economic growth forecast for the Philippines to 5.8 percent from 6.0 percent due to the global economic slowdown. (ALL PAPERS)

- The Bureau of Internal Revenue plans to harmonise and consolidate the rules on taxing share sales. (MANILA STANDARD TODAY)

($1=41.725 pesos)

(Reporting by Carmel Crimmins)