Yao Ming netting 27 points as his team beat Serbia and Montenegro 67-66 to knock the world champions out of the tournament.
The Americans remain in the competition but the setback -- only their third loss in 112 Olympic matches spanning 72 years -- is a huge embarrassment.
The draw for the third qualifying round of the Champions League was made on Friday.
Portugal coach Luiz Felipe Scolari was finally able to assemble his entire Euro 2004 squad for a training session on Monday.
But fancied players Alexandra Kosteniuk and Alisa Galliamova were knocked out on a disastrous day for seasoned campaigners at the World Women's Chess Championship.\n\n
Greece together with France, Germany and Romania all moved closer to a place in next year's European Championship finals.
European Union is not contemplating signing free trade agreement with India in the near future and will focus on completion of contentious World Trade Organisation negotiations including agriculture and Singapore issues
The Indian world junior champion maintained a full point lead after drawing with Emil Sutovsky of Israel in the fourth round of the Essent chess tournament.
World Cup holders Italy and European champions Greece got back on track in Euro 2008 qualifying on Wednesday, but England laboured to beat Andorra and Sweden suffered an upset in Northern Ireland.
They beat Kateryna Bondarenko of Ukraine and Heidi El-Tabakh of Egypt in the French Open girls' doubles quarters.
The ace midfielder has been in Germany's squad for the Euro 2004 qualifier against Scotland.
Chetan Baboor, Mouma Das, Sharath Kamal and Montu Das scored their second wins to make the grade.
Gunning for the silver medal are Russia and United States who have 25.5 points each.
India posted an emphatic 4-0 victory over Mongolia in the third round of the 37th Chess Olympiad.
Surya Shekhar Ganguly failed to finish among the prizes by a whisker, going down to Vladimir Akopian in the final round of Gibtele.com Masters chess tournament.
The Indian GM beat Woman Grandmaster Xu Yuhua of China in the second game of the quarter-finals of the Women's World Chess championship.
Koneru Humpy crashed through the defence of Xu Yuhua to win the first game of the quarter-finals in the Women's World Chess championship 2004.
The Indian Grandmaster meets Cecile Van Der Merwe of South Africa in her opening match of the tournament.
They remained in joint lead on 3.5 points each after the conclusion of the fourth round of Gibtelecom Masters International Open chess tournament.
Scotland shocked World Cup finalists France 1-0 while England were held to a goalless draw by Macedonia.
They thrashed Azerbaijan 8-0 while England, Croatia, Belgium and the Czech Republic easily won their World Cup qualifying matches.
Turkmenistan coach Rovshan Muhadov is confident of winning the 'away' tie of the pre-Olympic football match in Goa on Sunday.
Indian eves suffered a disastrous 1-2 loss against 27th seed England in the 14th and final round of the women's section of the Chess Olympiad.
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