Shein reports first post-IPO quarter: Europe sales fall 14% on EU duty

Shein Europe sales

Shein posted its first results as a listed company on September 28, reporting USD 11.08bn of net revenue and a 13.9% drop in Europe after the EU scrapped its EUR 150 customs duty exemption. The company blamed pre-emptive price rises and advertising cuts, with a further per-parcel handling fee due November 1.

India rules out UPI MDR delay: 0.4% merchant fee starts October 15

UPI MDR

India will charge merchants a 0.4% discount rate on UPI payments above INR 2,000 from October 15, 2026, ending nearly seven years of free acceptance on the world’s largest instant payment rail. The government has ruled out any delay as trade bodies demand a rollback and the dispute reaches the Supreme Court.