BRASILIA: Brazil’s government raised the individual income tax exemption threshold to the equivalent of two minimum wages, updating a benefit that was in place last year to reflect this year’s increase in the minimum wage. The measure was signed by President Luiz Inacio Lula da Silva via an executive order on Monday. It will take effect in May and cost …

EU to vote on tariff proposal for Chinese EVs on Friday France, Greece, Italy and Poland say they will vote in favour Their support should be enough to pass the vote France’s Macron says level of subsidies ‘unbearable’ BRUSSELS: France, Greece, Italy and Poland will vote on Friday for tariffs of up to 45% on imports of electric vehicles (EVs) …

HOUSTON: Oil prices rose on Wednesday after a jump in U.S. refining activity last week prompted a bigger draw than expected from gasoline and crude inventories. Brent futures were up 59 cents, or 0.7% at $85.25 a barrel at 12:52 p.m. EDT, after falling 1.3% the previous session. U.S. West Texas Intermediate (WTI) crude was up 79 cents, or 0.97%, …

WASHINGTON DC: A World Bank report by Indermit Gill and Ayhan Kose has identified that the world’s poorest countries are home to a quarter of humanity — 1.9 billion people but have prized natural resources, including one-fifth of the world’s copper and gold reserves, as well as many of the rare metals essential for the transition to clean energy. The …

KARACHI: Pakistan’s Federal Commerce Minister Jam Kamal Khan said the other day that he looked forward to Pakistan participating wholeheartedly in the Expo 2025 in Osaka, Japan, scheduled from April 13 to October 13. He visited the Trade Development Authority of Pakistan (TDAP) where he was briefed about the upcoming international exhibitions scheduled to be held in Japan and Pakistan. …

KARACHI: The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Friday. CONVERSION RATES FOR NOVEMBER 17, 2023 FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS) https://googleads.g.doubleclick.net/pagead/ads?client=ca-pub-6616358080948121&output=html&h=153&slotname=9716752773&adk=4210684429&adf=993425493&pi=t.ma~as.9716752773&w=610&fwrn=4&lmt=1700202086&rafmt=11&format=610×153&url=https%3A%2F%2Fwww.app.com.pk%2Fbusiness%2Fforeign-exchange-rates-436%2F&ea=0&wgl=1&uach=WyJXaW5kb3dzIiwiMTAuMC4wIiwieDg2IiwiIiwiMTE5LjAuNjA0NS4xMjQiLG51bGwsMCxudWxsLCI2NCIsW1siR29vZ2xlIENocm9tZSIsIjExOS4wLjYwNDUuMTI0Il0sWyJDaHJvbWl1bSIsIjExOS4wLjYwNDUuMTI0Il0sWyJOb3Q_QV9CcmFuZCIsIjI0LjAuMC4wIl1dLDFd&dt=1700202887226&bpp=3&bdt=217&idt=190&shv=r20231109&mjsv=m202311090101&ptt=9&saldr=aa&abxe=1&cookie=ID%3D6ef700ab86ff25df-2221330872dc0050%3AT%3D1682683952%3ART%3D1700202848%3AS%3DALNI_MZ6rspEr2N6ZkzTfjTt7Xyl4jzkWQ&gpic=UID%3D00000c0c8d75c858%3AT%3D1682683952%3ART%3D1700202848%3AS%3DALNI_MZixevEXX9Jp5jKBmXanYlPFH5akA&prev_fmts=0x0%2C694x174&nras=1&correlator=8515451133872&frm=20&pv=1&ga_vid=1375362813.1680593534&ga_sid=1700202887&ga_hid=216861572&ga_fc=1&rplot=4&u_tz=300&u_his=6&u_h=615&u_w=1093&u_ah=575&u_aw=1093&u_cd=24&u_sd=1.25&dmc=8&adx=47&ady=1405&biw=1077&bih=438&scr_x=0&scr_y=0&eid=44759875%2C44759926%2C42532604%2C31079628%2C44795922%2C44809005%2C31078301%2C44807754%2C44806139%2C44807763%2C44808148%2C44808284%2C44809054%2C31078663%2C31078665%2C31078668%2C31078670&oid=2&pvsid=3375157120680894&tmod=147676502&uas=0&nvt=1&ref=https%3A%2F%2Fwww.app.com.pk%2Fbusiness%2F&fc=1920&brdim=0%2C0%2C0%2C0%2C1093%2C0%2C1093%2C575%2C1094%2C454&vis=1&rsz=%7C%7CeEbr%7C&abl=CS&pfx=0&fu=1152&bc=31&td=1&psd=W251bGwsbnVsbCwibGFiZWxfb25seV8xIiwxXQ..&nt=1&ifi=3&uci=a!3&btvi=1&fsb=1&dtd=195 SBP SETTLEMENT VALUE DATE NOVEMBER 21, 2023 USD 287.2048GBP 355.6744EUR 311.3587JPY 1.8967. –APP

WASHINGTON DC: When Xi Jinping stepped off his plane in San Francisco for the Asia Pacific Economic Cooperation (APEC) summit, it was in circumstances very different to the last time he landed on American soil. Five years ago, when he was wined and dined by Donald Trump at Mar-a-Lago, Mr Xi was in charge of a China still in the …

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Monday directed Caretaker Finance Minister Dr Shamshad Akhtar, Advisor to PM Ahad Cheema, FBR Chairman, federal finance secretary and senior officers at a meeting to formulate and present a comprehensive strategy, based on input from all the stakeholders, to improve how the Federal Board of Revenue (FBR) works. He emphasized that the utilisation …

ISLAMABAD: The United States announced the mobilization of more than $40 million in new U.S.-Pakistani diaspora investment at the USAID ‘Invest in Pakistan’ conference in Islamabad on Saturday.  Four diaspora partners concluded four new Memoranda of Understanding with the United States Agency for International Development (USAID) valued at $44 million – increasing total diaspora commitments to nearly $200 million.  New investment commitments include: …

WASHINGTON, DC: The International Monetary Fund (IMF) Executive Board has concluded the Article IV consultation1 with Dominica and endorsed the staff appraisal without a meeting on a lapse-of-time basis. The Dominican economy is recovering strongly following the pandemic. Real GDP growth is estimated to have reached 6.9 percent in 2021 and 5.7 percent in 2022, driven by construction of climate-resilient …