Ekonomiya
Assembly adopts multinational tax against government wishes
Jean Martin Larawang ginawa ng AI
During the 2026 budget review, French National Assembly deputies adopted an LFI amendment Tuesday evening to tax profits actually realized by multinationals in France, estimated at 26 billion euros by supporters. Backed by a left-RN alliance, it follows the doubling of the GAFA tax from 3% to 6%, despite strong government opposition decrying fiscal overbidding. These votes could yield over 20 billion euros for the state but may be overturned in the Senate.
Reasons the US dollar stays below $4,000 pesos in Colombia
The US dollar has completed eight weeks without exceeding $4,000 pesos in Colombia, driven by global and local factors like the Federal Reserve's rate cut and increased dollar inflows. Analysts point to the DXY index's weakness and government operations strengthening the peso. This stability benefits imports and travel to the United States.
Al-Ahram Chemicals invests $10m in Sokhna formaldehyde derivatives complex
Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone, witnessed the signing of a contract between Al-Ahram Chemicals and Resins and the Main Development Company to build an industrial complex for formaldehyde and derivatives in Sokhna Industrial Zone. The $10m investment is expected to create 150 direct jobs. Commercial operations are set to start in early 2027.
Finance minister explains reasons for issuing PP 38 of 2025
October 30, 2025 00:45South Africa ends load shedding and boosts rail services
October 30, 2025 00:33Japan government keeps basic economic view unchanged in October
October 30, 2025 00:26Industry warns of cost shock from rising rail track prices
October 29, 2025 23:18Egypt brokers African consensus on AfCFTA rules of origin after four years
October 29, 2025 23:14Egypt extends EGP 50bn hotel financing initiative by six months to boost tourism capacity
October 29, 2025 17:13South Africa signals economic revival amid US diplomatic thaw
October 29, 2025 10:41No projects finalized under Japan's $550 billion investment pledge
Apec ministers' meeting highlights open plurilateralism and AI cooperation
Raj Patel Larawang ginawa ng AI
South Korea's Trade Minister Yeo Han-koo emphasized open plurilateralism and AI cooperation at the APEC Ministerial Meeting in Gyeongju on October 30 amid global economic shifts. Foreign Minister Cho Hyun urged partners to keep the Asia-Pacific region 'open and connected' to jointly address economic and geopolitical challenges. The meeting serves as a final preparation for the leaders' summit on November 1 and 2.
Government plans to reskill retrenched sugar workers
The Kenyan government has announced plans to reskill and redeploy workers affected by the restructuring of state-owned sugar companies. Labour Cabinet Secretary Alfred Mutua shared these details during a Senate appearance on October 29, 2025, as part of efforts to revive the struggling sugar industry. This follows legal challenges from thousands of employees over redundancy notices.
Senate adopts insufficient bill against high living costs in overseas territories
The Senate adopted a bill against the 'high cost of living' in overseas territories on October 29, introduced by Minister Naïma Moutchou. Deemed largely insufficient by ultramarine lawmakers, the text highlights frustrations over the lack of ambitious measures on purchasing power and competition. It is now sent to the National Assembly.
Adoption of 2026 budget in National Assembly increasingly uncertain
Jean Martin Larawang ginawa ng AI
After several days of intense debates in the National Assembly, the 2026 finance bill increasingly resembles a 'Frankenstein' budget, a patchwork of contradictory amendments complicating its final adoption. The executive, avoiding Article 49.3, faces strong opposition on measures like the surtax on multinationals and limits on sick leave. Lawmakers from all sides have adopted or suppressed key provisions, raising the risk of overall rejection.
Tax reforms not impacting Colombia's government revenue
Despite multiple tax reforms, Colombia's government revenue remains between 14.4% and 16.6% of GDP through 2026, according to an analysis by the Universidad Javeriana's Fiscal Observatory. The study highlights a projection shortfall exceeding that of countries like Chile, with overestimation above 4% of GDP. A deficit of up to 8 trillion pesos is forecasted for 2025.
Fed cuts rates for second straight time to 3.75-4 percent
The US Federal Reserve cut its interest rate for the second consecutive time, lowering it by a quarter percentage point to a 3.75-4 percent range, to support a cooling labor market. The decision, approved 10-2, comes amid moderate economic growth and somewhat elevated inflation. Officials also announced they will stop shrinking their asset portfolio starting December 1.