Police in Pakistan have identified – but aren't ready to release the names of – those behind the ambush Tuesday of Sri Lanka's cricket team, reports said. Authorities in Lahore, where the attack took place, also admitted they'd been forewarned and said security could have been "much, much better."Skip to next paragraph
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A $585 billion stimulus plan by China's government should revive the troubled economy and help achieve the goal of 8 percent growth, Premier Wen Jibao told the opening session of the National People's Congress Thursday. He said the government hopes to generate 9 million new jobs in the cities to offset what will be the "most difficult" year so far this century. The communist regime is said to believe those targets must be met to satisfy a population that has grown used to a steadily rising standard of living.
Central banks in Britain and the European Union both lopped another half-point off their key lending rates Thursday, sending them to historic lows amid increasingly grim economic news. The sixth cut in Britain since October reduces the rate to 0.5 percent, and the central bank said it also would expand the money supply by $106 billion to stimulate new lending. The new EU rate: 1.5 percent. The European Central Bank projects a drop in gross domestic product for the bloc of as much as 3.2 percent this year.
Prime Minister Vladimir Putin of Russia vowed to stop the flow of natural gas to Ukraine for the second time this winter if it doesn't pay its latest bill by Saturday. Putin said the raid by security agents earlier this week on Ukraine's natural gas company "is of extreme concern" to the Kremlin. Russian gas reaches Ukraine by pipeline, and a new cutoff almost certainly would affect customers in Europe as well.