PRESS DIGEST-Financial Times, Wall St Journal Asia editions

SINGAPORE, Sept 1 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and/or Web site editions on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

FINANCIAL TIMES (www.ft.com)

-- Allianz (ALVG.DE: Quote, Profile, Research) has agreed to sell Dresdner Bank in a 9 billion euro deal that will re-shape the German banking industry and create a clear domestic rival to Deutsche Bank (DBKGn.DE: Quote, Profile, Research).

-- China does not need to accelerate the appreciation of the renminbi against the U.S. dollar, according to Cheng Siwei, vice-chairman of the standing committee of the National People's Congress, an influential voice in Chinese economic policy making.

The comments are likely to disturb many in the United States, who are hoping that faster appreciation of the renminbi would help rebalance the world economy and improve prospects for U.S. growth.

WALL STREET JOURNAL (www.wsj.com)

-- U.S. Treasury Secretary Henry Paulson is embroiled in emergency planning on ways to shore up troubled mortgage giants Freddie Mac (FRE.N: Quote, Profile, Research) and Fannie Mae (FNM.N: Quote, Profile, Research) to avert a destabilizing jolt to the U.S. economy and the world's financial system.

-- Thailand's prime minister insisted he won't resign as anti-government protests spread beyond Bangkok, forcing some regional airports to close and disrupting rail services.

-- A Bank for International Settlements study casts doubt on the accuracy of a key index that banks use to gauge their subprime-mortgage related losses.

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