PRESS DIGEST - Philippine newspapers - July 15

MANILA, July 15 (Reuters) - These are the leading stories in Manila newspapers on Wednesday. Reuters has not verified these stories.

- President Gloria Macapagal Arroyo signed into law the Rent Control Act of 2009 that imposes a year-long moratorium on rent increases, a move seen to provide relief to 1.6 million renting families. (PHILIPPINE DAILY INQUIRER, MANILA BULLETIN, THE MANILA TIMES)

- The presidential palace is reviewing a proposal to grant amnesty to the commanders of the Abu Sayyaf group who want to return to the fold of the law. (THE PHILIPPINE STAR, MANILA BULLETIN, MANILA STANDARD TODAY, MALAYA)

- President Gloria Macapagal Arroyo's satisfaction ratings remain low, with her second quarter score at minus 31 almost unchanged from the previous quarter's minus 32, the country's leading pollster said. (BUSINESSWORLD)

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BUSINESS

- Hazards posed by political violence, natural disasters, human rights violations make the Philippines a "high risk" business environment, London-based risk analyst Maplecroft said.

- San Miguel Corp (SMC.PS) plans to team up with two Japanese investors for its $1 billion unsolicited proposal to the government to build the Laiban dam as an alternative source of water supply for Metro Manila. (PHILIPPINE DAILY INQUIRER, BUSINESSWORLD, MANILA STANDARD TODAY)

- Philippine Long Distance Telephone Corp (TEL.PS) completed its purchase of a 20 percent stake in power retailer Manila Electric Co (MER.PS) from the Lopez clan for 20.07 billion pesos ($416 million). (PHILIPPINE DAILY INQUIRER, THE PHILIPPINE STAR, MANILA STANDARD TODAY) ($1 = 48.27 Philippine pesos) (Reporting by Karen Lema)