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PHILIPPINE NEWSPAPER HIGHLIGHTS - SEPT 1, 2006.
MANILA, Sept 1 Asia Pulse - Highlights of today's newspapers:
MANILA TIMES:
- The wreck of the tanker Solar 1, which has been leaking oil since it sank off Guimaras Island on August 11, has been found, the Department of Environment and Natural Resources said on Thursday.
- Despite high oil prices and slowing industry and services sectors, the Philippine economy expanded slightly in the second quarter of the year from a year ago on the back of a resurgence in agriculture, significant growth in overseas Filipino workers (OFWs) dollar inflows and strong performance from exports. Socioeconomic Planning Secretary Romulo Neri has announced that gross domestic product (GDP) grew by 5.5 per cent in the second quarter of 2006 from 5.4 per cent in the same period last year.
- The peso continues to strengthen at the Philippine dealing system, staying within the four-year-high level at P50.77 against the US dollar.
- The Philippine government announced on Thursday that about P54 billion (US$1.1 billion) in eligible bonds were exchanged for new 10-year benchmark bonds.
- The Bangko Sentral ng Pilipinas (Central Bank of the Philippines) Depository Corporations Survey reported on Thursday that domestic liquidity (M3) rose by 13.2 per cent in July compared with the figures in the same period last year.
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