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Protesters demanding an end to army rule in Egypt sought on Saturday to build on momentum from a mass protest, bedding down in Cairo's Tahrir Square for a ninth day just two days before the first free parliamentary polls in living memory. Thousands stayed in the square late into the night on Friday, aiming to keep up pressure on the Supreme Council of the Armed Forces to further speed up a transition to democracy which they believe requires the generals to leave power now. The political turmoil and violence - 41 people were killed this week - are compounding the economic woes of a country where livelihoods have been battered by a year of turmoil that started with the toppling of Hosni Mubarak in February by mass protests. The generals have shown no sign of giving way to the demand to quit now. Instead, they have responded by promising that a new president would be elected by mid-2012, sooner than previously announced, and appointing a new prime minister to head a "n...

Showers or thunder showers will continue over most parts of the country today (November 26) and seas are expected to be rough while the low pressure area is moving away, the Department of Meteorology stated. Ada derana

 Retailers trying to woo shoppers with early deals and longer hours this week, and throughout the holiday season, could be putting their profits at risk as shoppers search for bargains and not much else. Wal-Mart Stores Inc, Toys R Us and outlet malls are among those hoping that big discounts on Thursday night will attract shoppers hungry for deals after Thanksgiving meals. Others such as Target Corp, Macy's Inc and Kohl's Corp will join the fray during the wee hours of Friday, opening their doors hours earlier than in past years. The early sales, along with more advertising spending, show that retailers are taking no chances as they fight for their share of the limited amount shoppers plan to spend. The moves, which include adding staff, securing bargains on video games and offering free shipping, also can eat into profit margins. Gross margins at U.S. department stores and broadline chains are expected to fall an average of 0.4 percentage points this year because...

Sarath Fonseka was found guilty by a divided decision in the case regarding the ‘White Flag’ statement and sentenced to 3 years in prison by the Colombo High Court today (November 18). The verdict divided 2:1 was given by the High Court bench, headed by Judge Deepali Wijesundara and comprising Judges DMPD Waraweva and Zulfiqar Razin. Justice Waraweva giving his judgment deliberated that Fonseka was not guilty on all three charges while Justice Wijesundara and Rashim found Fonseka guilty of the first charge, of inciting violence through his statement, and found him not guilty on the second and third charges. Sarath Fonseka, who is currently serving a 30-month jail term imposed by a court martial, was sentenced to three years in prison and fined Rs.5,000. The former Army Commander was accused of inciting violence by, in an interview given to the Sunday Leader, alleging that Defence Secretary Gotabaya Rajapaksa gave an illegal order not to accommodate any LTTE cadres attempting to...

It was a telling moment at the height of the Occupy Wall Street protests. John Paulson, the hedge-fund trader who famously made billions betting on the collapse of the housing market, was threatened by the demonstrators with a march on his Upper East Side home in New York last month. Paulson responded by putting out a press release that described his $28 billion, 120-person fund as an exemplar of the American Dream: "Instead of vilifying our most successful businesses, we should be supporting them and encouraging them to remain in New York City." Other captains of finance like to portray themselves as humble entrepreneurs. One owner of a multi-billion-dollar hedge fund grumbled in the midst of the financial crisis that he has to worry not only about making trading decisions but also about "all the hassles that come with running a small business." With U.S. cities moving this week to crack down on Occupy Wall Street encampments - including...

Adobe Systems Inc halted development of its Flash Player for mobile browsers, surrendering to Apple Inc in a war over Web standards as the company surprised investors with a restructuring plan. While the matter might seem like inside baseball for the average person, it is likely to improve the browsing experiences of tens of millions of iPhone and iPad users, who have trouble accessing sites built with Flash. That is because Adobe's decision means Web developers who currently use Flash tools to produce Web content will likely move over to the newer HTML5 technology, which Adobe embraced on Wednesday. Adobe's concession to Apple and its late founder Steve Jobs, who famously derided Flash as an inefficient power-hog, came as the design software specialist warned that revenue growth will slow next year. That is because the company is scaling back development of some products and shifting toward leasing other types of software via the cloud on a subscription ...

Japan's Olympus admitted on Tuesday it hid losses on securities investments dating back two decades, bowing to weeks of pressure to explain a series of baffling transactions that have put the future of the firm in doubt. The revelations by the 92-year-old company appear to vindicate ex-CEO Michael Woodford, who has staged a campaign since being sacked on October 14 to force the firm to come clean on nearly $1.5 billion in questionable payments. Olympus President Shuichi Takayama blamed Tsuyoshi Kikukawa, who quit as president and chairman on October 26, Vice-President Hisashi Mori and internal auditor Hideo Yamada for the cover-up, saying he would consider criminal complaints against them. The admission after weeks of denials shocked investors, sending shares in the endoscope and camera maker skidding almost 30 percent and prompting the biggest non-Japanese shareholder to demand the replacement of the entire board. "Ignorance is no defense," said Jo...