TFAB Cricket Sixes

The annual TFAB Cricket Sixes organised by the Trade Finance Association of Bankers (TFAB) was held on 30 May at the NCC grounds Colombo 7 for the sixth time. The cricket tournament kicked off around 1 p.m. and was concluded around 10 p.m. For the second time semi finals and finals were played under lights. 28 teams comprising of bank staff working for Trade Finance Divisions in commercial banks enthusiastically participated to battle for the TFAB Challenge trophy. Keen competition was witnessed throughout the tournament with Commercial Bank – A, Citi Bank, being the spotlight entering the finals through hard fought wins in the league round matches and quarter finals. Commercial Bank – A won over Citi Bank team in the final round to become the winner of the TFAB Challenge Trophy. Yasminth Thanura of Cargills Bank Ltd. was adjudged the best bowler and Naleen Pradeep of Citi Bank was adjudged the best batsman respectively, whilst the best player of the tournament was awarded to Achela Ranasinghe of Commercial Bank of Ceylon PLC. The best female player award was clinched by Harshini Fernando of Commercial Bank of Ceylon PLC Rangana Herath was the Chief Guest and Director/General Manager of AB Securitas Ltd., D.P.S. Kannangara was the Guest of Honour. Rangana Herath gave away the prizes for the winners, whilst Kannangara gave away the prizes for the runner up.

-: :-

WTO halves trade growth forecast for 2023

The World Trade Organization (WTO) has halved its growth forecast for global goods trade this year, dropping it to 0.8% from 1.7%. "The trade slowdown appears to be broad-based, involving a large number of countries and a wide array of goods, specifically certain categories of manufactures such as iron and steel, office and telecom equipment, textiles, and clothing," the WTO says in its updated Global Trade Outlook for October 2023.

World's first carbon border tax enters into force in EU

The EU brought its Carbon Border Adjustment Mechanism (CBAM) into force on 1 October. It’s designed to equalize carbon costs for producers whether inside or outside of the EU. The CBAM will at first apply to imports of goods with particularly carbon-intensive production processes, such as cement, iron and steel, aluminium, fertilizers, electricity and hydrogen. For now, importers only have to collect and report data on the emissions generated in producing the products they buy. But from the start of 2026, they will need to declare annual imports and their "embedded greenhouse gases", then submit sufficient CBAM certificates to cover the emissions.

World Trade Report 2023 makes case for “re-globalization” amid early signs of fragmentation

The 2023 edition of the WTO’s World Trade Report presents new evidence of the benefits of broader, more inclusive economic integration as early indications of trade fragmentation threaten to unwind growth and development. The flagship publication, launched on 12 September, features findings on how re-globalization — or increased international cooperation and broader integration — can support security, inclusiveness, and environmental sustainability.

Recent Events

Multi Religious Event - 2022

25th Annual General Meeting - 2022

Cricket Sixes Championship 2022