PRESS DIGEST-Financial Times, Wall St Journal Asia editions

SINGAPORE, June 13 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and/or website editions on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

FINANCIAL TIMES (www.ft.com)

-- China and Taiwan took a big step towards closer ties with agreements for regular non-stop charter flights, more bilateral tourism and further talks. The agreements were the fruits of the first official meeting between the two sides in 10 years.

-- Japan will be forced to sell its assets cheaply to emerging economies such as China and India unless Japanese corporations raise their capital efficiency and enterprise value, the head of the Tokyo Stock Exchange warned.

-- Refiners are paying record premiums for the high-quality crude oil they use to produce diesel and petrol, a sign of strong demand in the physical oil market that calls into question claims that soaring oil prices are being driven by speculators.

-- Babcock & Brown (BNB.AX) became one of the biggest Australian stock market casualties of the credit crisis after its shares fell 28 percent on fears the investment group would be forced into negotiations with bankers over debt repayments.

WALL STREET JOURNAL (www.wsj.com)

-- China reported a moderation in headline and core rates of inflation for May, though high global prices for food and raw materials continue to strain the government controls that have helped contain inflation so far.

-- Sharp Corp (6753.T) will begin selling mobile phones in China, even as other Japanese makers have left. The phones, which target the high-end market, will be sold through retailer Dixintong.

-- Korea unveiled a plan to make state-run oil company KNOC more competitive by raising $18.4 billion to boost oil production and assets.