PHILIPPINE NEWSPAPER HIGHLIGHTS - JUNE 18, 2004.

AsiaPulse News, June, 2004

MANILA, June 18 Asia Pulse - Highlights of today's newspapers:

MANILA TIMES:

- The peso dropped to its lowest in two months as the countrys jobless rate surged to a two- year high and overseas workers sent less money home. The National Statistics Office on Tuesday said the jobless rate rose to 13.7 per cent in April, the most among 11 Asia-Pacific economies monitored by Bloomberg. Remittances from workers abroad fell to US$660 million, down 5.6 per cent from a year ago. The peso fell as low as P56.40 against the dollar, the lowest since April 6, according to the Bankers Association of the Philippines. It closed at P56.355 to the dollar as of 4 p.m. Manila time, its weakest close since March 29.

- The national governments budget deficit probably...