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Minister scraps gazette which kept shipping companies’ arbitrary charges in check

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It is reported that importers are again facing difficulties after the cancellation of Gazette No. 2014/10 by Minister Nimal Siripala de Silva.

Importers claim that in this backdrop, shipping companies will be able to arbitrarily charge 40 other types of fees in addition to shipping fees.

This gazette, which was published on October 17, 2017 by the then subject minister – Mahinda Samarasinghe, was in place to protect importers and exporters from the fees charged arbitrarily by the shipping companies.

Thereby, all the charges related to loading, unloading, warehousing, etc. were initially paid by the shipping company and specific figures had to be announced.

However, after revoking the gazette, importers will have to bear all charges while it also creates a loophole to increase charges at will, finally putting that burden on the consumer.

Noting that will severely affect all essential food items such as sugar, dhal, rice etc., President of the Sugar Importers = Mr. P. Abeysekara points out that the cancellation of the gazette without quite realising its importance or without holding in discussions with relevant parties, could lead to many issues.

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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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