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DHL suspends high value US deliveries over tariffs

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DHL Express is suspending deliveries to the US worth more than $800 (£603) because of a “significant increase” in red tape at customs following the introduction of Donald Trump’s new tariff regime.

The delivery giant said it will temporarily stop shipments from companies in all countries to American consumers on Monday “until further notice”.

It added that business-to-business shipments will still go ahead, “though they may also face delays”.

Previously, packages worth up to $2,500 could enter the US with minimal paperwork but due to tighter customs checks that came into force alongside Trump’s tariffs earlier this month, the threshold has been lowered.

DHL said that the change “has caused a surge in formal customs clearances, which we are handling around the clock”.

It said that while it is working to “scale up and manage this increase, shipments worth over $800, regardless of origin, may experience multi-day delays”.

The company said it will still deliver packages worth less than $800, which can be sent to the US with minimal checks.

But the White House is set to clamp down on deliveries under $800 – specifically those sent from China and Hong Kong – on 2 May when it closes a loophole allowing low-value packages to enter the US without incurring any duties.

The removal of the so-called “de minimis” rule will impact the likes of the fast-fashion firm Shein and Temu, the low-cost retail giant.

Shein and Temu have both warned that they will increase prices “due to recent changes in global trade rules and tariffs”.

The Trump administration has claimed that “many shippers” in China “hide illicit substances and conceal the true contents of shipments sent to the US through deceptive shipping practices”.

Under an excutive order, the White House said the measures were aimed at “addressing the synthetic opioid supply chain” which it said “play a significant role in the synthetic opioid crisis in the US”.

Beijing has said that the opioid fentanyl is a “US problem” and China has the strictest drug policies in the world.

Last week, Hongkong Post said it was suspending packages sent to the US by sea and, from 27 April, would stop accepting parcels destined for America.

It said: “The US is unreasonable, bullying and imposing tariffs abusively.”

(BBC News)

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Standard egg prices to be announced daily via SMS

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Chairman of the All-Ceylon Egg Producers’ Association, R.M. Sarath Rathnayake has said new measures to announce daily standardized egg prices will be introduced from next Monday (June 23) to ensure fair pricing for consumers.

The prices covering wholesale, retail, and intermediary rates will be communicated daily at 5.00am via SMS to small, medium, and large-scale egg producers, as well as bakery owners, food manufacturers, and hotels through the number 070-7030700.

He warned of recent practices where eggs were bought at Rs.15-18 and stockpiled, stating such actions will no longer be tolerated.

He also criticized groups posing as “egg associations” without actual farming experience.

The cost of producing an egg is around Rs.28 for large farms, Rs.29-30 for medium range farms, and Rs.32 for small-scale producers, he further said.

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16 bn. Apple, Facebook, Google passwords exposed

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A staggering 16 billion passwords to Apple, Facebook, Google, and various US government services have been leaked online, triggering global security alerts in what experts are calling the most significant data breach in history.

The mammoth security breach has forced Google to urge billions of users to change their passwords immediately.

At the same time, the FBI has issued warnings to Americans about opening suspicious links in SMS messages.

Cybersecurity experts at Cybernews, who investigated the breach, discovered a whopping 30 exposed datasets containing between tens of millions and over 3.5 billion records each.

Perhaps most alarmingly, researchers confirmed that nearly all these exposed datasets contain previously unreported information, making this an entirely fresh security crisis.

“This is not just a leak – it’s a blueprint for mass exploitation,” the researchers said via Forbes this week.

(news.com.au)

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New chairman appointed to CSE

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Dimuthu Abeyesekera has been appointed as the new Chairman of the Colombo Stock Exchange (CSE).

The CSE announced that Mr. Abeyesekera brings over 35 years of experience in the capital markets and has served on the CSE Board for the past six years.

He currently serves as the Director/CEO of Asha Securities Ltd, which is affiliated with Phillip Capital Singapore, a specialized financial services organization managing assets worth over US$ 35 billion with a network of offices around the world.

Abeysekera also currently serves as the Director at Asha Financial Services Ltd, a specialised margin Trading Company in Colombo.

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