PRESS DIGEST-Financial Times, Wall St Journal Asia editions

SINGAPORE, Feb 20 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and/or Web site editions on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

FINANCIAL TIMES (www.ft.com)

-- Dubai International Capital is stepping up its investments in Asia with plans to invest about $5 billion in India, China and Japan during the next three to four years.

-- China represents an investment opportunity at a time when much of the rest of the world can expect more fallout from the credit crisis, Larry Fink, chairman and chief executive of global fund manager BlackRock (BLK.N: Quote, Profile, Research) says.

-- MBIA (MBI.N: Quote, Profile, Research) has brought back Jay Brown, its former chief executive, to run the company in a move that could smooth the way for a broader restructuring of the world's biggest bond insurer, including dividing its operations.

-- Australia's central bank on Tuesday underlined the size of the battle it faces to control inflation by disclosing that it considered lifting interest rates by 50 basis points earlier this month. It also indicated that further rate rises could take place soon.

-- India's largest commodities market has filed a draft prospectus with the regulator for an initial public offering in what will be the first listing of an exchange in the sub-continent.

WALL STREET JOURNAL (www.wsj.com)

-- President Pervez Musharraf, confronted with a crushing political defeat, said he intends to stay in office to guide Pakistan's democratic transition -- even if it means working with a man he believes once tried to kill him.