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MANILA, Aug 1 Asia Pulse - Highlights of today's newspapers:
THE MANILA TIMES:
- The government expects the biggest rate of increase in its revenues for next year to come from income sources other than the Bureaus of Internal Revenue and of Customs.
- The amount of money circulating in the local financial system continued to rise as domestic liquidity, which is the broadest measure of money in the local financial system, grew by 6.23 per cent in June from a year ago, based on data from the Bangko Sentral ng Pilipinas.
- At the heart of the housing problem in the country is the poor economic condition of around 40 per cent of the population, the target beneficiaries of governments housing program.
- Local manufacturers on Thursday raised the alarm that the Philippines could end up as mere importer of tires soon unless the government takes action against the reported dumping of tires by other countries.
- The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) on Thursday decided on putting off any further cut in key policy rates until it sees stronger signs of a recovery in the economy of the United States, which is the Philippines biggest export market.
Source: HighBeam Research, PHILIPPINE NEWSPAPER HIGHLIGHTS - AUG 1, 2003.