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A large number of investors who have been defrauded by the infamous Sakvithi Ranasinghe Property Sharing Investment (Private) Ltd after depositing their money in the fraudulent company staged a protest campaign at Viharamahadevi Park, Colombo yesterday demanding the authorities to bring the culprits involved in the scam to book. They also signed a petition to be forwarded to the President in this connection. Here, an affected mother signs the petition as her little daughter stands by her side (Inset) A visually handicapped man cries for help. Pictures by Saman Sri Wedage

Air Force bombs Tiger military HQ

Air Force fighter jets carried out yet another successful mission targeting the LTTE’s military headquarters complex, two kilometres North East of Kilinochchi town at 12.45 p.m. yesterday, Air Force spokesman Wing Commander Janaka Nanayakkara told the Daily News.

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US Senate passes bailout

The US Senate has resoundingly passed a sweetened US $ 700-billion Wall Street bailout, spurring hopes the House of Representatives would follow suit after killing an earlier bid to avert a world financial meltdown.

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Amendments to Financial Companies Act

The Government is planning to bring amendments to the Financial Companies Act of 1988 to give more teeth and address identified loopholes to avert future financial scams, Central Bank Governor Ajith Nivard Cabraal said.

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Despite the tight demand management policies of the Central Bank, inflation exceeded the original expectation for the year due to several factors. The tight monetary policy measures of the Central Bank helped to reduce inflation gradually during the first half of 2007. However, the substantial increase in international market prices of oil, the complete removal of fuel subsidies since July 2007 and sharp rises in several other commodity prices in international markets led to an upward adjustment in domestic prices of several goods and services. Central Bank Annual Report 2007