PRESS DIGEST-Financial Times, Wall St Journal Asia editions

SINGAPORE, July 8 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and website editions on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy. FINANCIAL TIMES (www.ft.com)

-- The Asian Development Bank is setting up a new climate change fund to invest in carbon credits that will be generated after 2012, the cut-off date for the Kyoto protocol. -- Singapore's Neptune Orient Lines (NEPS.SI) changed its chief executive for the third time in five years in the latest sign that the container shipping company is preparing to acquire Germany's Hapag-Lloyd.

WALL STREET JOURNAL (www.wsj.com)

-- China Airlines' (2610.TW) chairman resigned, saying he achieved his goals of improved safety and direct flights between Taiwan and mainland China.

-- The Australian Securities and Investments Commission said it signed a declaration of mutual recognition with the Hong Kong Securities and Futures Commission, allowing the cross-border sale of funds to individual investors in both countries.

-- Singapore's Neptune Orient Lines (NEPS.SI) put in place a new CEO as the container shipper weighs making a bid for rival Hapag-Lloyd.