Inflation at single digit in 2013

Sri Lanka's economy rebounded recording 7.3 percen t growth in 2013, while inflation remained at single digit levels for the fifth consecutive year, gradually declining to mid-single digit levels by end of 2013. Economic growth was broad based with positive contributions from all sectors, supported by favourable weather conditions and improved global demand.

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DFCC Bank to administer European Investment Bank's loan

The Government has appointed DFCC Bank to administer the credit line of EUR 90 million extended to Sri Lanka by the European Investment Bank. The management mandate agreement and the on-lending agreement were exchanged between DFCC Bank and the Ministry of Finance and Planning recently.

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Vehicle registration records marginal growth

Vehicle registrations during the first two months of this year recorded a marginal growth compared to last year according to motor traders. The new and reconditioned motor car and heavy duty vehicle sales posted a three percent growth during January to February this year compared to the corresponding period last year.

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Chemical fertiliser use to be curtailed in Boralanda

The application of chemical fertiliser and pesticides on crops in the Uva province will be reduced with more educational and alternative fertiliser application programs, said Welimda Divisional Secretary W. Wijenayake at a ceremony organised by Cargills Ceylon Limited to present scholarships and schooling material to children of farmers in Wangikumbura,

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BoC records Rs. 15.7b PBT

The Bank of Ceylon (BoC) concluded its financial year 2013 reporting the highest profits over its domestic peers proving its market leadership. The results indicate an increase in volumes in assets and gross operating income and achieving asset growth in all business lines.

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