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DateLine Friday, 19 October 2007

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Bond issue raises investor confidence

Sri Lanka’s five-year, $500 million bond offering has received orders worth more than $1.25 billion, which was oversubscribed three times over. The Government will obtain this loan at an annual interest of 8.25 per cent, Minister of State Revenue and Deputy Finance Minister Ranjith Siyambalapitiya said.

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Mahindra and Mahindra to develop $ 200m IT Park

The Mahindra and Mahindra Group of India will develop an IT park in Katunayake as a joint venture with the Board of Investment (BoI) Sri Lanka. Speaking at a press conference yesterday, Minister of Investment Promotion Navin Dissanayake said this will facilitate the local IT industry. The IT Park will be near the Katunayake Zone. They expect to finalise the discussions end of this month.

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Multichemi to open Rs. 350m herbal factory in Horana

Herbarium inside factory compound:

Sri Lanka’s largest herbal cosmetic factory will be opened at Millewa, Horana next month. The total investment for this project would be Rs. 350 million, which will be borne by Natural Beauty Creations, a subsidiary of Multichemi Group.

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Food Festival: The official launch of the World Spice Food Festival organised by the Sri Lanka Tourism Authority was held at Colombo Hilton yesterday. Nomads Grounds will take on a festive air over the weekend when it hosts the Hawker Street where large marquee covering 250 seats, a live band and a dance act would provide entertainment. There would be a special play area for kids.
Thai Chefs serving Thai cuisine at the launch yesterday.
Picture by Sumanachandra Ariyawansa



 

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