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```htmlGolden Ten Data reported on June 25 that, according to a decision published in the official gazette on Thursday, Egypt—the world’s seventh-largest nitrogen fertilizer exporter—has revised its nitrogen fertilizer export tax policy. The previous fixed export tax (USD 90 per ton) has been replaced with a 10% ad valorem tax based on the export value. Additionally, high-purity ammonium nitrate products are granted tax exemptions. The new regulation stipulates that all nitrogen fertilizer exports are taxed at 10% of the invoice amount based on the FOB price. However, pure ammonium nitrate with a nitrogen content exceeding 34.2% is not subject to the tax, and goods exported to manufacturing enterprises within Egypt’s free trade zones are also exempt. This policy shift comes at a time when the global fertilizer market is experiencing significant volatility. The World Bank warned in its April “Commodity Market Outlook” report that, due to tensions in the Middle East, global fertilizer prices may rise by more than 30% in 2026.```

According to Foresight News and Nikkei News, stablecoin issuer Circle plans to cooperate with Nomura Securities to enable instant foreign currency settlement for Japanese enterprises as early as 2027. This initiative will allow large overseas transactions to be completed immediately and aims to stimulate cross-border investment and trade. The Circle-Nomura plan will mark the first entry of a major stablecoin issuer into the Japanese enterprise transaction market. The plan will allow companies to exchange yen for US dollar-denominated stablecoins, which will be used for investment and instant transfers.

Golden Ten Data June 25｜Medical equipment and biopharmaceutical company Beyond Air is down nearly 4% in pre-market trading. According to reports, Beyond Air will release its fiscal year 2026 financial report before market open on June 26 (tomorrow), adding pressure to its share price today. The company continues to incur losses and its cash burn rate is rapid, so investors may choose to exit and observe before the earnings announcement. The market is focused on whether revenue will meet the full-year guidance, the rate of cash consumption, and the progress of FDA approval for the second-generation LungFit PH system.