August 27, 2008 / 1:02 AM / 9 years ago

PRESS DIGEST - Philippine newspapers - August 27

MANILA, Aug 27 (Reuters) - These are the leading stories in Manila newspapers on Wednesday. Reuters has not verified these stories.

- Sulpicio Lines Inc, is administratively liable for the sinking of Princess of the Stars on June 21 and should lose its licence, the Board of Marine Inquiry said. (MANILA STANDARD TODAY, PHILIPPINE DAILY INQUIRER, THE PHILIPPINE STAR)

- Security forces are now focusing on a possible alliance between the communist New People’s Army and the Moro Islamic Liberation Front to carry out diversionary attacks. (THE PHILIPPINE STAR)

- Presidential Commission on Good Government Chairman Camilo Sabio admitted he had asked his brother, a Court of Appeals justice, to help the Government Service Insurance System in its legal battle against Manila Electric Co MERB.PS after receiving a call from a lawyer of First Gentleman Jose Miguel Arroyo. (ALL PAPERS)



- The government will use proceeds from the value-added tax to complete a 6.3 billion peso ($137 million) railway project that will link two main railway systems in Metro Manila. (BUSINESSWORLD)

    - The Philippine central bank said it does not expect credit to tighten along with the slowing economy and rising interest rates as consumer spending remains buoyant. (THE PHILIPPINE STAR, MANILA STANDARD TODAY)

    - Jollibee Food Corp (JFC.PS), the Philippines’ largest fast food business, has sealed a deal to acquire 100 percent of Hongzhuangyuan, a chain of restaurants in China, for $55.5 million. (THE PHILIPPINE STAR, MANILA STANDARD TODAY, THE MANILA TIMES)

    ($1 = 45.99 pesos)

    Reporting by Karen Lema; Editing by Kim Coghill

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