Sri Lanka initiates the process of further liberalising the foreign exchange market repealing the draconian Exchange Control Act and replacing it with an Exchange Management Act.

The much hyped revival of Kantale Sugar factory is to be further delayed due to Treasury’s hold up in the signing of shareholder agreement with the foreign investor although the Board of Investment (BOI) has entered into an investment agreement one year ago.

The Colombo Additional Magistrate court today (03) ordered to further remand former DIG Anura Senanayaka and former Crime OIC of the Narahenpita police - Sumith Perera.

Colombo High Court today (03) ordered to release the confiscated passport of former President's Secretary - Lalith Weeratunga on a bond of Rs.10 million.

Renowned journalist - Chinthana Jayasena has passed away.

The Warrant Officer (WO) attached to the army intelligence unit who was arrested in connection with the assassination of journalist Lasantha Wickramatunge has been remanded until August 11.