The Sunday Times Sri Lanka

Financial Times

Fresh challenge to oil hedge payments

A fresh challenge has been mounted against payments being made by the Ceylon Petroleum Corporation (CPC) to five banks led by Standard Chartered in the controversial oil hedging deals. Public interest campaigner and chartered accountant, Nihal Sri Ameresekere on Monday filed a fundamental rights petition in the Supreme Court arguing that the CPC doesn’t have the statutory power and authority to have engaged in the transactions.

CSE investigates Eswaran's transaction in Asia Capital

The Colombo Stock Exchange (CSE) is examining the recent purchase made by Malaysian businessman Vijay Eswaran’s recent purchase in Asia Capital (ACap), CSE officials said. “We are looking at this transaction carefully and trying to ascertain whether there has been a foreign exchange violation in this transaction and to find out if the money to buy the shares infact was remitted from abroad,” a CSE official told The Sunday Times FT.

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