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Chevron to donate US$35,000 to Sri Lanka Red Cross Society (SLRCS) for well-cleaning programme in flood-affected districts

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Chevron Lubricants Lanka PLC (CLLP) announced today its intention to donate US$35,000 to the Sri Lanka Red Cross Society (SLRCS) as flood relief, specifically towards the cleaning of 1,500 wells in the Colombo and Matara districts, considering the devastation caused by floods during the first week of June 2024.

The project aims to directly benefit 1,500 families (approximately 7,500 individuals) in the flood-affected districts. Priority will be given to the most vulnerable populations, including children, the elderly, and individuals with compromised health conditions in Colombo and Matara districts.

The main objective of the well-cleaning programme, after the floods in Sri Lanka, is to restore access to safe and clean drinking water for flood-affected communities, thereby preventing waterborne diseases and promoting public health.

“We are deeply saddened by the loss of lives and livelihoods caused by the floods in Sri Lanka. As a responsible corporate citizen, we are committed to supporting the relief and recovery efforts of the SLRCS, which is doing a commendable job in providing humanitarian assistance to the affected people,” said Bertram Paul, Managing Director and CEO of CLLP.

“We are grateful to Chevron for their generous donation and partnership in this well-cleaning programme. This will enable us to reach out to more families who are in urgent need of clean water and sanitation facilities. We hope that this initiative will help them to rebuild their lives and restore their dignity,” said K. Balakrishnan, President of Sri Lanka Red Cross Society.

The well-cleaning programme is expected to commence in July 2024 and be completed by September 2024. The SLRCS will mobilize its trained volunteers and staff to carry out the well-cleaning activities, in coordination with the relevant government authorities and local communities. The programme will also include awareness-raising sessions on hygiene and sanitation practices, as well as the distribution of hygiene kits and water purification tablets to the beneficiaries.

Chevron has been operating in Sri Lanka since 1992 and is the market leader in lubricants. CLLP is a subsidiary of Chevron Corporation, one of the world’s leading integrated energy companies. Chevron is committed to social responsibility and supports various community development projects in the areas of health, education, environment, and economic empowerment.

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and

develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

With a membership of 100,000 volunteers, the Sri Lanka Red Cross Society is the largest humanitarian organization in the country, working tirelessly to provide assistance and support to those affected by crises and disasters. For more information about the Sri Lanka Red Cross Society and their ongoing humanitarian efforts, please visit www.redcross.lk.

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Dubai Based Sri Lankan Entrepreneur Launches Global Forex Marketplace

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A visionary Sri Lankan entrepreneur based in Dubai has launched VerifiedBrands.io, a cutting-edge Forex Marketplace Ecosystem designed to bring transparency, trust, and regulatory compliance to the Global Forex industry.

The platform addresses one of the most critical challenges in online trading — the difficulty of finding legitimate and regulated brokers and financial service providers. VerifiedBrands.io connects traders, licensed Forex brokers, technology providers, and affiliates in a secure and trusted digital marketplace.

“Our mission is simple — to eliminate fraud and scams from the Forex industry and give traders, investors, and partners a reliable ecosystem where only regulated and verified companies are listed,” said Anthony, the founder of VerifiedBrands.io.

VerifiedBrands.io verifies and lists only Regulated Forex brokers and compliant financial technology providers, offering a single platform for:

Traders seeking trusted brokers and services

Companies looking for high-quality leads and exposure

Technology providers offering white-label solutions, trading infrastructure, CRM systems, Liquidity Solutions, Payment Gateways , API solutions

Affiliates and partners wanting to work with compliant, reputable firms

The platform also provides tools and resources to help traders and partners compare, connect, and collaborate confidently, making it a first-of-its-kind ecosystem for the Forex community.

With the global Forex industry estimated at over $6 trillion in daily trading volume, VerifiedBrands.io aims to build a safer, more transparent trading environment and empower investors and traders worldwide to make informed decisions.

For more information, visit www.VerifiedBrands.io

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LB Finance to enter Philippines market through subsidiary

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LB Finance PLC, a Sri Lankan Non-Bank Financial Institution (NBFI), has received regulatory approval from the Central Bank of Sri Lanka to establish a wholly owned subsidiary in the Philippines.

In a corporate disclosure to the Colombo Stock Exchange, the company said the Director of the Department of Supervision of Non-Bank Financial Institutions granted approval on 11 December to set up the subsidiary under the name LB Finance Philippines Inc.

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Commonwealth Enterprise and Investment Council expresses solidarity with Sri Lanka

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The Commonwealth Enterprise and Investment Council (CWEIC) has conveyed its condolences to Sri Lanka over the loss of life and extensive damage caused by Cyclone Ditwah, urging all Commonwealth nations to support the country’s recovery as the scale of devastation continues to unfold.

In a statement signed by CWEIC Chairman Lord Marland and Deputy Chairman Lord Swire, the council said: On behalf of the Commonwealth Enterprise and Investment Council, we extend our sincere condolences to the President and people of Sri Lanka for the tragic loss of life and the widespread destruction caused by Cyclone Ditwah.

With the death toll now exceeding 300, hundreds more people missing, and thousands left without homes or livelihoods, the impact on your nation is devastating, and affecting all parts of the country.

As Commonwealth friends, we acknowledge the suffering that Sri Lanka has already endured through natural disasters; floods, droughts, landslides, and the 2004 tsunami.

Sri Lanka has survived through the extraordinary efforts of countless volunteers and ordinary people. Once again, we see this remarkable resilience and cooperation from Sri Lankans who are working to restore order, basic services, and supplies where possible.

We appeal to all Commonwealth countries to support the recovery efforts, and we will keep Sri Lanka in our thoughts and prayers at this difficult time. CWEIC has a significant presence in Sri Lanka, and our Strategic Partners stand ready to assist in any way we can during this difficult time. We will continue to support international efforts and appeal to Commonwealth nations to contribute to Sri Lanka’s recovery.

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