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Economy

Morocco: 2026 Workplace Accident & Occupational Disease Funding Rates Set

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy

Moroccan authorities have finalized regulations governing the financing of workplace accident and occupational disease funds for 2026, according to an official decree published February 16th, 2026. The joint arrêté, issued by the Minister of Economy and Finance and the Minister of Health and Social Protection on January 23rd, 2026, establishes the contribution rates applicable throughout the year.

The regulations, rooted in Law No. 18.12 concerning the compensation for work accidents, enacted through Dahir No. 1.14.190 on December 29th, 2014, specifically Article 54, aim to ensure the financial stability of the Solidarity Fund for Employers and the Fund for Increasing Pensions paid to victims of work accidents and occupational diseases. The decree builds upon existing frameworks for these funds.

The financing mechanism is structured around two primary categories of contributions. The first applies to all insurance premiums issued by insurance and reinsurance companies for coverage of work-related accidents and illnesses. These premiums will be subject to rates of 20% and 60%, depending on the beneficiary fund, ensuring contributions are proportional to the sector’s insurance activity. The second category targets the capital constituting pensions borne by uninsured employers, with the exception of the State, similarly subject to the established rates.

According to a report from Les Inspirations ÉCO, the decision seeks to consolidate the financial equilibrium of funds designed to compensate victims of workplace incidents and occupational illnesses, while maintaining the continuity of benefits for recipients. The move comes as Morocco continues to expand social protection and strengthen the governance of solidarity mechanisms.

Recent data indicates a slight decrease in the national average contribution rate for Accidents at Work and Occupational Diseases (ATMP) to 2.08% for 2026, down from 2.12% in 2025, as outlined in separate decrees published December 30th, 2025. These decrees, also published in the official journal on December 31st, detail the specific collective net rates for companies with fewer than 20 employees. Four fixed surcharges have also been set, covering “commute” accidents (0.19%), “general charges” (52%), “specific charges” (0.17%), and “early retirement” (0.03%), used in calculating ATMP rates for companies with between 20 and 149 employees, or those with over 149 employees using a real contribution rate.

A separate decree, also issued on December 30th, 2025, specifies the AT-MP pricing applicable to mining operations and similar industries. The Security Social ceiling for 2026 will increase by 2% compared to 2025 levels, impacting the calculation of daily allowances for illness, work accidents, maternity, disability pensions, and retirement benefits.

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Economy

Polish Stocks with Rising Dividends: Top Picks for 2026

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy

Warsaw, Poland – Investors in the Polish stock market are anticipating a potentially record-breaking year for dividend payouts in 2026, with several companies signaling substantial increases compared to previous years. The forecast, reaching an estimated 45 billion złoty, represents a 12% increase year-over-year, according to analysts at Skarbiec TFI.

Leading the charge is AB SA (ABE), which has recommended a dividend of 6.45 złoty per share – more than double the amount paid out in the previous year. This significant jump is attributed to a revised dividend policy allocating 60% of consolidated net profit to shareholders. The company’s stock has demonstrated a strong upward trend in recent months.

Ultimate Games (ULG) is likewise poised for a considerable dividend boost, potentially reaching 0.90 złoty per share. While the gaming sector is subject to volatility based on release schedules, the company’s improved financial results in the third quarter of 2025 suggest a potential 80% increase in dividend payouts.

Seco Group (SWG), a company with a long history of dividend payments dating back to 2011, is considering a potential 35% increase, potentially reaching 1.35 złoty per share. Improved year-over-year results for the first three quarters of 2025 support this possibility.

Votum (VOT) has already distributed two dividend installments for 2025, totaling 1.67 złoty per share. The company’s 2025-2027 policy aims to recommend 60 million złoty for distribution annually, equating to 5.00 złoty per share – a potential 33% increase over the 3.74 złoty paid in 2025.

GPM Vindexus (VIN), operating in the debt collection sector, is also anticipating a dividend increase of around 24%, potentially reaching 0.62 złoty per share, bolstered by improved financial performance in 2025. The company previously distributed an extraordinary dividend from capital reserves.

The Warsaw Stock Exchange (GPW) itself is experiencing a strong upward trend and is considering a dividend of approximately 3.90 złoty per share, a potential 20% increase. This is based on the assumption of continuing its dividend approach of around 80% of net profit.

Mennica Polska (MNC) is also expected to increase its dividend by approximately 22%, reaching 1.34 złoty per share, supported by a strong growth trend and improved financial results. The company has a 13-year history of dividend payments.

Analysts note that the financial sector and utilities are expected to contribute the largest share of dividends, with consumer goods and real estate sectors also increasing their contribution. Orange Polska (OPL) has already announced a 15% increase in its proposed dividend, offering 0.61 złoty per share, to be paid on July 8, 2026.

The final dividend amounts will depend on the full-year financial results and official recommendations from company boards. Investors are closely monitoring these developments as they assess potential returns in the Polish stock market.

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Economy

Abandoned Classic Cars Found in Portugal: A Collector’s Dream

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy

A rural exploration in Portugal led to the discovery of a remarkable collection of classic automobiles, largely dating from the 1960s, abandoned in a secluded agricultural property. The find was made by a couple documenting their travels on the YouTube channel “Exploring the Unbeaten Path,” according to a report published Tuesday by La Nación.

The pair, who wished to remain discreet during their exploration, navigated the property with caution, aware of a local resident in the vicinity. Rain began to fall as they approached a dilapidated hangar, where they first spotted a Renault 4 furgón and an Austin A30, both heavily weathered but still recognizable. This initial discovery hinted at the larger collection hidden within.

Inside the hangar, the explorers found a trove of vehicles seemingly frozen in time. A 1959 Vauxhall Cresta PA, a British sedan once considered a status symbol, was among the most striking finds. As well present was a Dodge Brothers Truck from the 1930s, representing an early era of American automotive manufacturing. A DeSoto Deluxe Special, known for its elegant design and position within the Chrysler group, was also discovered, its condition reflecting decades of neglect.

The collection wasn’t limited to American and British models. A 1965 Rover P5, remarkably still containing its keys, was also located within the hangar, suggesting a sudden and unexplained abandonment. Further exploration revealed an MG MGA, a classic British roadster produced between 1955 and 1962, and a Mercedes-Benz 220S, manufactured from 1956 to 1959, known for its build quality and refinement.

The state of the vehicles suggested a potential restoration project that was never completed. The content creator noted that the scene gave the impression that the cars were in the process of being refurbished, as if preparations had been made to return them to the road.

Portugal has seen a growing interest in classic cars in recent years, with companies like Vintage Tours offering curated road trips for enthusiasts, according to a press release from May 2025. Vintage Tours focuses on regions of Portugal – Norte, the Douro Valley, and the Alentejo – that offer a more authentic experience away from mainstream tourist destinations. The classic car scene in Portugal is described as a “wonderful testament to the country’s rich automotive history,” fostering a community of enthusiasts and providing scenic routes for rallies.

The discovery by “Exploring the Unbeaten Path” adds another layer to Portugal’s growing reputation as a destination for classic car lovers, though the fate of the vehicles remains uncertain.

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Economy

Box 3 Tax Changes: Savings, Investments & What You Need to Know

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy

The Dutch government’s revised tax rules for wealth, known as “box 3,” are facing criticism for potentially discouraging investment and undermining stated policy goals, according to financial expert Peter Siks. Siks, writing in De Telegraaf on Tuesday, argued the changes effectively dismantle a system that allowed capital to be mobilized.

The new regulations, approved by the Second Chamber, alter how income from savings and investments is taxed. Currently, a fixed percentage is applied to assets in box 3, regardless of actual returns. As of next year, that percentage will rise to 7.78% for non-savings assets, up from 5.88%, according to reporting in Accountancy van Morgen. This means investors will pay tax on returns they haven’t actually earned, a point of contention highlighted by De Telegraaf.

The government’s stated aim is to encourage savings to be converted into investments, bolstering the European capital market. However, Siks contends that the new tax rules run counter to this objective. The changes come as Dutch citizens currently save more than three times as much as they invest, a disparity noted by Siks.

Financial planner Peter Beets of ABN Amro MeesPierson has reported an increase in inquiries regarding the potential benefits of transferring assets to a private limited company (BV), as reported in Accountancy van Morgen. A BV allows for taxation based on actual returns, potentially offering significant tax savings for higher-net-worth individuals. Beets explained that elements with lower returns, such as bonds and loans, can be unfairly taxed alongside higher-yielding assets within the box 3 framework.

According to calculations cited by Accountancy van Morgen, an individual with a million euros in assets – divided between stocks, bonds, and loans to children – could save nearly 40% on their tax bill by structuring their holdings through a BV. However, this strategy carries the risk of incurring taxes if the overall portfolio generates a negative return.

The debate surrounding box 3 has been ongoing for years, as noted by Eenvandaag. The system taxes income from assets such as savings, investments, and real estate. Box 1 covers income and property, while Box 2 pertains to substantial shareholdings in companies. The new rules aim to address perceived unfairness in the previous system, where a fixed return was taxed even if no actual profit was made.

As of July 2025, individuals exceeding a certain threshold will be taxed on a presumed return of 7.78% on their non-savings assets, according to Accountancy van Morgen. The government has not yet responded to Siks’s criticism.

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