Analysis: Attack puts sport in terror gunsights

The media are in place, thousands of fans watching and major stars present. It's not hard to see why sport makes a tempting target for terrorists and, say security experts, Tuesday's attack on Sri Lanka's cricket team could set the two worlds on a new collision course.

One of eight Palestinian terrorists behind the Munich Olympic killings of Israeli athletes.

At least seven people -- six police officers and a driver of a van carrying umpires -- were killed when a gang of 12 gunmen opened fire on a convoy carrying the Sri Lankan cricket team in the Pakistani city of Lahore that also left eight players and their coach injured.

The attack is not the first involving Pakistan's cricket world, a fact that reflects both the volatility of a country caught in the crossfire of an international terror conflict and also the game's prominence in South Asia, where passions for cricket regularly enter politics.

In 2002 a suicide bomb blast outside the New Zealand cricket team's hotel in the southern Pakistani city of Karachi left players unhurt but killed 11 French Navy experts, two Pakistanis and the team's physiotherapist.

The wider sports world has weathered more direct attacks, most notably the Munich Olympics of 1972 when 11 Israeli team members were held hostage then murdered by Arab militants demanding the release of various prisoners.

And in 1996, the Olympics were again targeted, this time by Eric Rudolph, a suspected member of an anti-abortion white supremacist sect, who detonated explosives killing two people and injuring 120 others in Atlanta, Georgia.

Ahead of the 2008 Games in Beijing, China deployed a massive security presence saying it had foiled a terrorist hijacking plot and warning it faced further threat in its Muslim-majority northwest -- although it did not produce evidence to back its claims.

The British government has already earmarked $840 million for policing and security for the 2012 London Games, with officials at pains to reassure over safety in a city where 52 people died in July 2005 terrorist attacks on its transit network.

But though the Olympics may be surrounded by a ring of steel, the many hundreds of events across the world that make up the annual sporting calendar represent much softer targets, and says security analyst Will Geddes, the potential for further attack is real.Geddes, CEO of International Corporate Protection, says the fallout from Tuesday's incident will be watched with interest by terror groups looking for new ways of getting their message across with the greatest possible impact.

He told CNN that, unlike events such as Munich, which related to the already widely-publicized Israeli-Palestinian conflict, modern media coverage of sports events has the potential to put the spotlight on lesser-known radicals seeking to maximize exposure.

"These days in international terrorism small groups that want to get their agenda across to the widest audience are continually innovating in terms of the target and how to ensure they get the most publicity with as much embarrassment as possible for the country involved," he told CNN.

Says Geddes, although it remains unclear who is behind Tuesday's attack, it may already be viewed as a success by its perpetrators in terms of the global headlines it has garnered and the damage it has caused to Pakistan's reputation.

Such a result would be an attractive prospect to groups such as militants seeking to reignite conflict over the disputed region of Kashmir that has dogged Indian-Pakistani relations for decades -- and also disrupted sporting ties between the two nations.
"We can't rule out the possibility that this will happen again in the future. It has generated massive, massive publicity and bad press for the Pakistan government and it throws a question mark over future events and whether anyone will feel safe touring there."

Pak shares Lahore attack leads with Sri Lanka

ISLAMABAD: Foreign Minister Makhdoom Shah Mehmood Qureshi has said that Pakistan is against terrorism in all its forms and manifestations.

Shah Mehmood Qureshi, speaking at a joint news conference with Sri Lankan counterpart Rohitha Bogollagam, said terrorism is a global issue that requires a global response. He said Pakistan had shared important leads of Lahore attack with Sri Lanka.

Sri Lankan foreign minister said his country condemns terrorism. He lauded bravery of martyred policemen who saved lives of Sri Lankan cricketers. Rohitha Bogollagam termed Liberty attack a bid to sour Pak-Sri Lankan relations.

Serena tops Venus to win Billie Jean King Cup exhibition

NEW YORK - Serena Williams beat her older sister Venus 6-4 6-3 to win the Billie Jean King Cup exhibition on Monday, marking the return of women's tennis to Madison Square Garden after a nine-year absence.

Australian Open champion Serena, who defeated 2008 French Open champion Ana Ivanovic of Serbia 6-3 in her one-set semi-final, collected $400,000 in the first women's matches at the Garden since the 2000 WTA Championships.

Venus, winner of her last two tournaments in Dubai and Acapulco, settled for $300,000. The reigning Wimbledon champion beat world number three Jelena Jankovic of Serbia 6-4 in her first match.

The Serbs got $250,000 each in the $1.2 million event.

"Venus and I are so excited to be playing here," Serena said after an arduous final, during which she slipped over while chasing a baseline retrieval and later crashed onto the blue court when trying to reach a backhand volley.

"It was really good, really intense," the 27-year-old world number one said.

Venus, who leads the sisters' WTA tournament head-to-head series 10-9, said: "I tried but Serena was too good."

The first set turned on a marathon, with a tense ninth game that reached deuce nine times. Serena finally cracked her older sister's serve on her eighth break point for a 5-4 lead before serving out the set.

EMOTIONAL CEREMONY

Before the Williams match, an emotional ceremony was held to honor women's sports pioneer and equal rights campaigner King, keynoted by former President Bill Clinton.

"There were millions of young women all across America who couldn't play sports or pursue dreams that were thought to be the province of boys," Clinton said. "That was before Billie Jean King.

"She's done a lot not only to help women pursue their tennis dreams but other dreams well beyond athletics. She has probably done more than anyone in the world to empower women and to educate men."

King said: "The seeds for this historic event were planted almost 40 years ago when nine of us...signed a $1 contract to play a tournament in Houston.

"We had such big plans for our sport. We dreamed of playing in the world's greatest arenas, like Madison Square Garden."

The exhibition was also used to spark a youth registration push called "Tennis Night in America" with 750 facilities in all 50 states holding sign-up parties for youth tennis programs built around screenings of the Billie Jean King Cup event.

Gunmen attack Sri Lankan cricket team in Lahore

LAHORE: Gunmen attacked Sri Lanka's cricket team in a gun and grenade assault Tuesday in the Pakistani city of Lahore that killed eight people and wounded seven members of the squad.



The attack sparked condemnation from around the world and threw a massive question mark over the future of the game in the troubled nation -- a co-host for the 2011 cricket World Cup.


‘The plan was apparently to kill the Sri Lankan team but the police came in the way and forced the attackers to run away,’ Lahore's police chief Habib-ur Rehman said.


‘They appeared to be well-trained terrorists,’ he told reporters.


Rehman said up to 12 gunmen ambushed the team's convoy close to the Gaddafi stadium with rockets, hand grenades and automatic weapons, unleashing a fierce gunbattle with security forces.


The gunmen fled after the ambush, triggering a giant manhunt.


It was the first deadly attack against a sports team in this nuclear-armed country, where more than 1,600 people have died in a wave of Islamist attacks in less than two years, and where Al-Qaeda and Taliban shelter in its northwest.


Witnesses said the upmarket district of Lahore, home to many designer boutiques, was transformed into a battle zone as gunmen hidden behind trees opened fire in a sophisticated, coordinated attack.


‘The bus came under attack as we were driving to the stadium,’ Sri Lanka's captain Mahela Jayawardene told Cricinfo.


‘The gunmen targeted the wheels of the bus first, and then the bus. We all dived to the floor to take cover.’



He said most of the team's injuries appeared to be minor and caused by debris, and said the players owed the bus driver their ‘lives’ for his courage under fire.


It could have been worse -- Rehman said the attackers fired a rocket which missed the bus, then threw grenades underneath which failed to explode.


A police official said two civilians and six policemen guarding the players were killed in the attack as the team was heading for the third day's play in the second Test against Pakistan.


Sri Lankan officials said seven team players and a coach were wounded.


Star batsman Thilan Samaraweera and Tharanga Paranavithana were treated in hospital but out of danger, while Jayawardene, vice-captain Kumar Sangakkara, Ajantha Mendis, Thilina Thushara and Suranga Lokumal had minor injuries.


Assistant coach Paul Farbrace, a British national, was also hurt.


Samaraweera is one of Sri Lanka's leading players and earlier this week he became only the seventh batsmen in Test cricket to notch a double hundred in consecutive matches.


Sri Lanka said it was rushing its foreign minister to Pakistan in the wake of the assault, which Sri Lankan President Mahinda Rajapakse called a ‘cowardly terrorist attack.’



Pakistani President Asif Ali Zardari and Prime Minister Yousuf Raza Gilani also strongly condemned the ‘terrorist’ attack and ordered an inquiry.


Two air force helicopters evacuated the Sri Lankan team from the stadium to Lahore airport, from where they were to be flown home late Tuesday.


Experts defused two car bombs and recovered grenades, three kilograms (6.6 pounds) of explosives, a pistol and a detonating cable.


Blood stained the front seats of a vehicle used by Pakistan's elite force that had been assigned to protect the team, the van raked with gunfire with its wheels shot up and radio system disabled.


There was no immediate claim of responsibility although fears of an attack by Islamic militants linked to Al-Qaeda have caused many cricket teams to cancel tours to Pakistan in recent years.


Pakistani officials said the attack bore all the hallmarks of the November 2008 assault on the Indian city of Mumbai, which was blamed on Pakistan-based Islamic militants.


India's immediate reaction was to say that Pakistan needed to dismantle its ‘infrastructure of terrorism’ and that security for the Sri Lankan cricketers had been ‘hopelessly inadequate.’The attack also came as the Sri Lankan army pressed its final offensive against ethnic Tamil rebels in the north of the country in a civil war that has cost tens of thousands of lives.


Pakistani shares slumped three percent on Tuesday as analysts warned the attacks would further blight business already beset by the global financial crisis.


David Morgan, president of the International Cricket Council, warned that Pakistan could not host international cricket unless it drastically improved security.


‘Things will have to change dramatically in Pakistan, in my opinion, if any of the games are to be staged there,’ he told BBC television. The 2011 World Cup is due to co-hosted by Pakistan, Sri Lanka, India and Bangladesh.
Last month, Australia forced Pakistan to change the venue of their one-day series in April/May to Dubai and Abu Dhabi because of security fears.


India also refused to send its team across the border following the Mumbai attacks and a spate of bombings in Pakistan over the past year.

Eight dead in attack on Sri Lanka cricketers in Lahore

LAHORE: Gunmen attacked Sri Lanka's cricket team in a gun and grenade assault Tuesday in Lahore that killed eight people including six police personnel and wounded five members of the squad.

"The plan was apparently to kill the Sri Lankan team but the police came in the way and forced the attackers to run away," Lahore's police chief Habib-ur Rehman said.

"They appeared to be well-trained terrorists," he told reporters.

Rehman said up to 12 gunmen ambushed the team's convoy close to the Gaddafi stadium with rockets, hand grenades and automatic weapons, unleashing a fierce gun battle with security forces. The gunmen fled after the ambush, triggering a giant manhunt.

Witnesses said the up market district of Lahore, home to many designer boutiques, was transformed into a battle zone as gunmen hidden behind trees opened fire in a sophisticated, coordinated attack.

Police officials said two civilians and six policemen guarding the players were killed in the attack as the team was heading for the third day's play in the second Test against Pakistan. Sri Lankan officials said seven team players and a coach were wounded.

Star batsman Thilan Samaraweera and Tharanga Paranavithana were treated in hospital but out of danger, while Jayawardene, vice-captain Kumar Sangakkara, Ajantha Mendis, Thilina Thushara and Suranga Lokumal had minor injuries. Assistant coach Paul Farbrace, a British national, was also hurt.

President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani also strongly condemned the "terrorist" attack and ordered an inquiry.

Two air force helicopters evacuated the Sri Lankan team from the stadium to Lahore airport, from where they were to be flown home late Tuesday. Experts defused two car bombs and recovered grenades, three kilograms (6.6 pounds) of explosives, a pistol and a detonating cable.

Blood stained the front seats of a vehicle used by Pakistan's elite force that had been assigned to protect the team, the van raked with gunfire with its wheels shot up and radio system disabled.

The attack has sparked condemnation from around the world and threw a massive question mark over the future of the game in Pakistan -- a co-host for the 2011 cricket World Cup.

Hyundai Motor Group to invest $6 billion in 2009

SEOUL (Reuters) - South Korea's Hyundai Motor Group HYGR.JK plans to invest nearly $6 billion this year, similar to 2008, and will focus on developing environment-friendly cars, as the world's No. 5 carmaker eyes longer-term growth beyond the current crisis.

The global auto industry is reeling under an unprecedented demand slump that has sparked production cuts, layoffs and government bailouts. General Motors Corp (GM.N) on Thursday posted a loss of nearly $31 billion for 2008.

Hyundai Motor Group, which has Hyundai Motor Co (005380.KS) and Kia Motors Corp (000270.KS) under its wing, said it would invest about 9 trillion won ($5.9 billion) this year, similar to its spending last year.

Of the planned investment in 2009, 6 trillion won would be spend on facilities with the remaining 3 trillion won earmarked for research and development, Hyundai said in a statement.

Hyundai is considered better positioned than its Japanese and U.S. rivals to weather the global recession thanks to the weaker won currency and a line-up of cheaper cars.

Hyundai's total global vehicle sales fell 27 percent in January year-on-year, but its U.S. sales rose nearly 10 percent.

The group, which has taken steps to slash costs and cut executives' salaries, said its research efforts would focus on greener vehicles as demand for less-polluting, fuel-efficient cars was expected to surge once the global economy improves.

Hyundai said it would spend 2.4 trillion won over the coming years on environment-friendly cars.

It aims to launch a gasoline-electric hybrid car model in July in South Korea. The group also plans to develop a commercial fuel-cell car model by 2012.

Abu Dhabi reviewing Citigroup investment: sources

ABU DHABI - Abu Dhabi is assessing its $7.5 billion investment in Citigroup as the bank's problems deepen and consequences of a possible nationalization become clearer, according to sources close to the Abu Dhabi Investment Authority (ADIA).

ADIA invested $7.5 billon last year in Citi through convertible bonds that pay 11 percent in interest, but it must start converting the bonds into 235.6 million shares in Citigroup from March next year.

"Nothing has changed from ADIA's perspective at this point. ADIA's convertible bonds are due for conversion in a phased manner between March 2010 and September 2011, and that stands," an Abu Dhabi government official told Reuters.

"But it is carefully assessing its options due to the latest events -- although no decision is taken yet," he said, declining to be named.

A spokesman for ADIA, thought to be the world's largest sovereign fund, declined to comment.

Abu Dhabi is the wealthiest of seven emirates within the United Arab Emirates, the world's fifth-largest petroleum exporter.

ADIA's returns as a bondholder have been unaffected by continuing troubles at Citigroup, but the dramatic fall in Citi's share price has eroded the conversion value of the mandatory convertible bonds.

In the original deal with ADIA, the Citi securities must be converted into common stock at a price between $31.83 and $37.24 a share between March 2010 and September 2011. Citi last traded at $1.50 a share.

Options for the investment include holding them through to the conversion, which may allow enough time for the share price to recover, or converting them early, in a move that may head off the possibility of the U.S. government nationalizing it.

"We know ADIA is following the recent developments closely, but as a bondholder, ADIA's investments are secure because the U.S. government has left bond holders untouched, unlike other investors such as preferred shareholders," a senior Abu Dhabi-based banker close to ADIA said.

"However, it is early days, and we need to wait and see what ramifications the latest events would have and whether there would be pressure on investors in bonds to convert (early)," he said.

Citi, he said, has been urging preferred shareholders and convertible bond holders to convert to common stock to help avoid nationalization by the U.S. government.

FORCED CONVERSION?

On Friday, the U.S. government announced it would convert up to $25 billion of its $45 billion worth of preferred stock into common equity at $3.25 per share.

Other preferred shareholders, including the Government of Singapore Investment Corporation and Saudi Arabia's Prince Alwaleed, will convert up to $27.5 billion of their holdings at the same price. Compared to Alwaleed or Singapore, ADIA has no aspirations in any controlling stake or a board seat and is just happy to ride along as an investor with regular returns. At least for the moment, ADIA's investment is safe," an Abu Dhabi-based financial analyst said.

"ADIA is a long-haul investor and is in a different boat compared to other investors in Citi," he said, declining to be named due to company policy.

Gulf sovereign funds have been badly burned buying into troubled U.S. banks, with the Kuwait Investment Authority investing last year in U.S. banks Citigroup and Merrill Lynch before both stocks dived and the latter was sold for a fraction of its earlier price to Bank of America.

Major sovereign wealth funds are now holding off big investments abroad, with some focusing on investing at home to stimulate economies in the wake of the global crisis, a recent survey showed.