Economy
Assembly adopts multinational tax against government wishes
Jean Martin AI द्वारा उत्पन्न छवि
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.
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.
South Africa signals economic revival amid US diplomatic thaw
South Africa's economy shows positive signs with growth exceeding 1% and removal from the FATF Grey List, while diplomatic ties with the US under the Trump administration begin to improve. Speculation surrounds the appointment of a new ambassador to Washington, and a US ambassador-designate expressed willingness to reset relations despite longstanding grievances. However, challenges like trade barriers and political disputes persist.
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.
Japan government keeps basic economic view unchanged in October
30 अक्टूबर 2025 00:26Industry warns of cost shock from rising rail track prices
29 अक्टूबर 2025 22:02Kuwaiti prime minister arrives in Cairo for economic talks
29 अक्टूबर 2025 21:07Government plans to reskill retrenched sugar workers
29 अक्टूबर 2025 19:33MBG program could reach 40 million beneficiaries by late October
29 अक्टूबर 2025 16:43Al-Ahram Chemicals invests $10m in Sokhna formaldehyde derivatives complex
29 अक्टूबर 2025 10:41No projects finalized under Japan's $550 billion investment pledge
29 अक्टूबर 2025 08:54Copper price surpasses US$5 for first time in London
Apec ministers' meeting highlights open plurilateralism and AI cooperation
Raj Patel AI द्वारा उत्पन्न छवि
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.
Egypt brokers African consensus on AfCFTA rules of origin after four years
Egypt, as Chair of the AfCFTA Ministerial Council of Trade Ministers, has secured consensus among member states on rules of origin for the textile, apparel, and automotive sectors. The breakthrough, achieved through a transitional implementation mechanism, follows more than four years of negotiations. It was announced after a Cairo meeting in September and an October virtual session.
South Africa ends load shedding and boosts rail services
South Africa has seen significant improvements in electricity supply and rail transport under the national coalition government formed in June 2024. Load shedding has ended, easing economic pressures, while Transnet's enhancements have increased mining sales. These changes reflect the ANC's shift toward private sector involvement in key services.
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.
Adoption of 2026 budget in National Assembly increasingly uncertain
Jean Martin AI द्वारा उत्पन्न छवि
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.
Egypt extends EGP 50bn hotel financing initiative by six months to boost tourism capacity
The Egyptian Cabinet has approved a six-month extension of the EGP 50 billion hotel financing initiative to expand the country's hotel capacity. Ministers of Finance and Tourism announced the decision, effective from October 20, 2025. The move responds to requests from investors seeking to complete ongoing and planned tourism projects.
Finance minister explains reasons for issuing PP 38 of 2025
Finance Minister Purbaya Yudhi Sadewa explained that Government Regulation Number 38 of 2025 was issued to help local governments address temporary funding shortages. The regulation also opens possibilities for long-term loans for clear projects. The Chairman of DPR RI Commission XI welcomed this step as a financing breakthrough.