PRESS DIGEST-Taiwan - Aug 28

TAIPEI Aug 28 (Reuters) - Taiwan newspapers carried the following stories on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

CHINA TIMES

-- Taiwan's credit rating could be downgraded as the government intends to raise its typhoon reconstruction budget of T$120 billion ($3.6 billion) by taking out loans.

-- The number of Chinese tourists in Taiwan fell by 67 percent in August after Typhoon Morakot ravaged the island, said the tourism bureau director general, who expected the travel industry to lose about T$10.4 billion from August to October.

UNITED DAILY NEWS

-- Health Minister Yang Chih-liang accused some of Taiwan's media of creating panic over the H1N1 flu.

-- UDN.com Co Ltd, an online news provider in Taiwan, will work with Delta Electronics Inc (2308.TW), the world's top maker of power supplies for electrical devices, to jointly launch an electronic reading device in 2010.

LIBERTY TIMES

-- Taiwan cabinet's referendum review committee rejected a petition from the opposition Democratic Progressive Party seeking a referendum on a proposed Economic Cooperation Framework Agreement (ECFA), a broad trade deal with China.

COMMERCIAL TIMES

-- Food and beverage conglomerate Ting Hsin Group has bought several insurance companies' stakes in Taipei's iconic 101 building, raising its holding in the skyscraper to 32 percent.

ECONOMIC DAILY NEWS

-- China Telecom (0728.HK) will work with smartphone maker HTC (2498.TW), TSMC (2330.TW) and other Taiwan firms to jointly develop 3G chipsets based on the firm's CDMA2000 standard.