PRESS DIGEST-Financial Times, Wall St Journal Asia editions

SINGAPORE, July 23 (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)

-- Asian central banks were warned on Tuesday that they will need to raise interest rates more quickly if they are to contain inflation.

The Asian Development Bank used its semi-annual report on east Asia excluding Japan to stress that authorities needed to recognise that soaring prices presented a more immediate threat than slowing growth

-- Carlyle Group, the U.S. private equity firm, admitted defeat on Tuesday night in its controversial three-year battle to make a significant investment in Xugong, one of China's leading machinery makers.

-- Mubadala Development Co, Abu Dhabi's increasingly powerful state investment vehicle, said on Tuesday it plans to become one of the 10 biggest institutional investors in General Electric (GE.N: Quote, Profile, Research) as it announced a series of deals with the U.S. group, including a $8 billion joint venture to set up a commercial finance business.

WALL STREET JOURNAL (www.wsj.com)

-- India's government survived a no-confidence vote, keeping the ruling coalition in power for a few more months and providing Prime Minister Manmohan Singh with a much-needed political boost as he seeks to secure a nuclear deal with the U.S.

-- Apple Inc. (AAPL.O: Quote, Profile, Research) is ramping up its retail strategy in China after years of shying from one of the world's fastest-growing technology markets.