PRESS DIGEST-Financial Times, Wall St Journal Asia editions

SINGAPORE, March 13 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and Web site editions on Thursday. Reuters has not verified these stories and does not vouch for their accuracy. FINANCIAL TIMES (www.ft.com)

-- India is beginning to experience its own version of the subprime crisis as banks tighten lending procedures to curb rising delinquencies, particularly in small unsecured personal loans.

-- Japan's leading exporters agreed to raise wages as part of the country's annual spring salary negotiations.

-- Rio Tinto (RIO.L: Quote, Profile, Research) (RIO.AX: Quote, Profile, Research) raised the stakes in its iron ore price negotiations with the world's steelmakers, suggesting it might move away from traditional long-term contracts and sell more ore into the spot market, where prices are higher. -- South Korea's National Pension Service to vote against the re-election of Hyundai's [HYGR.UL] chairman and also to oust Dooson Heavy's chairman because both have fraud convictions

-- Philips (PHG.AS: Quote, Profile, Research) has raised 680m ($1.05bn) by selling a third of its remaining stake in its flat screen joint venture with South Korea's LG Electronics (066570.KS: Quote, Profile, Research).

WALL STREET JOURNAL (www.wsj.com)

-- Japan's upper house rejected the government's nominee, Muto, for Bank of Japan governor, possibly leaving the central bank without a head when current chief Fukui steps down March 19.

-- Korean officials are considering merging some state-owned firms into a holding company similar to Singapore's Temasek.

-- China is willing to work on an international conduct code for sovereign-wealth funds, its foreign minister indicated.

-- The IMF urged members to make plans to boost spending to stimulate economic growth and to rescue troubled financial institutions if the global housing and credit crisis deepens further.