Sri Lanka’s finance minister Ravi Karunanayake announced that a newly proclaimed ‘Colombo International Financial Centre’ will be governed by British law.

Speaking at a Business forum in Colombo, Mr Karunayaka said,

“We want to position Sri Lanka as a mini-financial centre. This  why we want to have a Colombo international Finance Centre, showcasing the Hong Kong model with a British legal system. In the next couple of months you will see the exchange controls being completely opened up not to the extent of the capital markets being opened up – because you need a certain safety when we integrate ourselves.

The Northern Province came to a standstill on Wednesday as a mass hartal was administered in support of protests against the rape and murder of a school girl in Vavuniya last week.

Sri Lanka signed a transaction advisory services agreement with the Asian Development Bank to develop a section of the Colombo Port project, reports Colombo Page.

Speaking after the signing of the agreement, which was witnessed by Sri Lanka’s Finance Minister Ravi Karunannayake, the ADB country director for Sri Lanka Takehiko Nakao, said,

“The terminal will maintain Colombo Port’s strategic position as a key trans-shipment hub for global and regional trade.”

The new Sri Lankan government appointed governor to the Northern province, Reginold Cooray said mixed marriages between Tamils and Sinhalese people would be a way to reconciliation.

Commenting on Mr Cooray's remarks at an event in Jaffna where the Sri Lankan president was present, the chief minister of the Northern Province, C V Wigneswaran, said, "The governor of the northern province Reginold Cooray recently urged mixed marriages to occur for reconciliation. I would like to respond to this."

"I am not against mixed marriages. My children have married ethnic Sinhalese people."

Iran will look to re-visit a Preferential Trade Agreement which was agreed with Sri Lanka in 2005, said Iran’s Energmy Minister Hamid Chitchian during his visit to Sri Lanka.

Speaking in Colombo at the opening of the Joint Commission for Economic Co-operation (JCEC), Mr Chitchian said,

“Iran and its new international atmosphere with respect to resolving Iran’s sanctions is completely ready to boost bilateral commercial relations and would like to increase the level of cooperation with Sir Lanka more than ever.”