Two separate oil hedging deals between the Ceylon Petroleum Corporation (CPC) and Standard Chartered Bank (SCB) and CitiBank have gone wrong and about US$ 30 million was not paid by the CPC when the deadline (for the October payment) ended on Friday, informed sources said.
A range of taxes announced in Thursday’s budget proposals will lead to price increases on a variety of essential items, an investigation by The Sunday Times has revealed.
The tax increase, which will see a further escalation in the cost of living, will lead to price hikes on milk powder, dhal, onions, potatoes, sugar, wheat flour, clothing, fans, television sets and school stationery.
