Petrol hedge deals probed
The Central Bank (CB) has begun an extensive probe on the oil hedging deals by the Ceylon Petroleum Corporation (CPC), criticized over mounting losses, even as a government minister said there will not be any more hedging next year. Even as CPC Chairman Asantha de Mel came out blazing at a news conference on Monday and stoutly defended the decision to resort to the ‘zero cost collar’ option in hedging on oil prices, five-man teams from the CB visited five commercial banks on Thursday and Friday and obtained all documents pertaining to the transactions.
Pooneryn falls: President tells LTTE – surrender

The Army’s recapture of Pooneryn yesterday prompted President Mahinda Rajapaksa to urge the Tiger guerrillas to lay down arms and negotiate peace. Addressing the nation on television, the President called on the LTTE to surrender. “I very clearly call on Prabhakaran of the LTTE to immediately lay down arms and come to the negotiation table. It is the greatest service that you can do to the people of the Wanni,” he said.

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