Government to encourage mergers in banking sector
The Government will encourage the merger of two
of the largest development banks in the country, the NDB and the
DFCC, said Central Bank (CB) Governor Ajith Nivard Cabraal. The
government will encourage mergers and acquisitions in the Banking
and Non Bank Financial Institution (NBFI) sectors to strengthen the
financial sector, said Cabraal, presenting 'Road Map 2014 - monitory
and financial sector policies for 2014 and beyond', in Colombo last
week.
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CB expects 7.2 percent growth in 2013
The continued easing of monetary policy
throughout 2013 amidst low and stable inflation has brought about
the desired macroeconomic outcome, Central Bank (CB) sources said.
The monetary policy review of January 2014 issued by the Monetary
Board said that available leading indicators show that real GDP
growth is set to record around 7.2 percent growth for 2013.“Monetary
aggregates moved towards the projected path.
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BOI projects provide 9,500 jobs
The Board of Investment (BOI) has granted
approval to 118 investment projects from January to September, 2013.
During this period 105 agreements were signed with an approximate
investment of US$ 2 billion. Fifty-five projects launched commercial
operations last year providing 9,500 employment opportunities,
Investment Promotion Ministry sources said.
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Fruit and vegetable export revenue hits Rs. 4 b
Last year was a good year for fresh and
processed fruit and vegetable exports which brought in a revenue of
Rs. 4,000 million, said National Advisor to the Ministry of
Agriculture, Sarath de Silva. He said that 2013 was an encouraging
year for the fresh and processed fruit and vegetable export sector
which did well despite the recession in the US and European markets.
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