July 21, 2008 / 11:56 PM / 11 years ago

PRESS DIGEST-Financial Times, Wall St Journal Asia editions

SINGAPORE, July 22 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and/or Web site editions on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

FINANCIAL TIMES (www.ft.com)

— Barack Obama will tell European leaders this week that the U.S. would engage more actively with Asia and other regions should he win November’s election, according to a senior adviser.

— Cyclone Nargis, which swept across Burma in May, caused more than $4 billion in damage and losses to the country, according to an international assessment. It was a similar level of devastation to the 2004 Asian tsunami in Indonesia.

— International mediators could be forced to step in after Thailand and Cambodia failed to solve a spat over an ancient Hindu temple that has sparked a military stand-off.

— Pakistan’s government has raised fuel prices by up to 17 percent, in a move that is likely to stoke inflation rates already at a 30-year high and generate more public discontent.

— Bomb blasts on two buses in the southern Chinese city of Kunming have killed at least two people and injured 14, just two and a half weeks before the country is to host the Olympic Games

— Qatar Telecom’s QTEL.QA bid for control of Indosat (ISAT.JK) appeared to end on Monday after the Indonesian government barred the group from owning more than 49 percent of the country’s second-biggest mobile phone operator.

WALL STREET JOURNAL (www.wsj.com)

— Vietnam increased gasoline and other refined-product prices as a gap between domestic and overseas costs sparked state oil-firm losses.

— LG Electronics’ (066570.KS) earnings surged 84 percent, but third-quarter sales are likely to decline.

— Myanmar needs at least $1 billion over three years to help cyclone survivors, a report prepared by the United Nations, the Association of South East Asian Nations (ASEAN)and the country’s ruling junta said.

— A Swedish-Indian start-up developed equipment to let telecom companies extend mobile service into developing nations.

— Dr. Reddy’s (REDY.BO) said profit fell 26 percent in its first quarter on higher costs.

— China’s national pension-fund organisation is facing “serious challenges” in achieving an operating profit this year because of the decline in the value of its stock assets.

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