At least three International NGOs will be asked to cease their operations in the country for poor performance and failing to adhere to certain regulations, a senior government official disclosed yesterday.The three organisations have been identified as two Norwegian-based INGOs – Norwegian People’s Aid and the FORUT -- and the Nertherlands-based ZOA.

The controversial oil hedging crisis has taken a new turn with reports of a possible multi-faceted complicity between foreign banks and Ceylon Petroleum Corporation (CPC) officials where in one case there was an attempt to transfer all CPC accounts to the two foreign banks – now at the centre of a Central Bank probe, an investigation by The Sunday Times Business Desk shows.