January 16, 2008 / 12:42 AM / 10 years ago

PRESS DIGEST - Philippine newspapers - Jan 16

MANILA, Jan 16 (Reuters) - These are the leading stories in Manila newspapers on Wednesday. Reuters has not verified these stories.

- The Armed Forces of the Philippines maintained the threat against the government is real, denying a statement by Senator Rodolfo Biazon that destabilisation plots are being floated to justify an extension of the term of military chief General Hermogenes Esperon. (MALAYA)

- Philippine Airlines Inc (PAL.PS) said the decision of a United States aviation watchdog to downgrade the Philippines’ rating would adversely affect its operations in the United States. (THE PHILIPPINE STAR, THE MANILA TIMES, BUSINESSWORLD)

- Philippine National Police officials said they are ready to use “reasonable force” against members of the media who refuse to leave an emergency situation. (THE PHILIPPINE STAR)

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BUSINESS

- The White House has asked the Philippines to line up in support of a global trade deal, with Filipino negotiators being urged to revisit the country’s hardline stance in talks covering farm products, industrial goods, and services. (BUSINESSWORLD)

    - Foreign and local investment approvals last year rose 29 percent to 349 billion pesos ($8.6 billion) from 271 billion in 2006, government data showed. (MANILA STANDARD TODAY, BUSINESSWORLD)

    - Cebu Air Inc is aiming to raise as much as 6.6 billion pesos from its proposed initial public offering next month at the maximum price of 95 pesos per share. (PHILIPPINE DAILY INQUIRER)

    ($1=40.6)

    Reporting by Karen Lema

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