Dubai’s main stock index reached its highest level in more than a decade on Wednesday, rising 0.1% to close at 5,084 points, its highest level in 10 years and three months. Other Gulf markets were weak as investors expected smaller interest rate cuts by the US Federal Reserve next year. Emirates NBD Bank shares gained … Read more
JP Morgan Chase & Co. agreed. to drop its lawsuit against Tesla Inc. Valued at $162 million after a three-year legal dispute over stock guarantees. The two companies announced the decision on Friday in a lawsuit in Manhattan, where they agreed to dismiss their claims against each other without the option of refiling the lawsuit. … Read more
OpenAI, the owner of ChatGPT, the Microsoft-backed AI startup, began selling shares worth $1.5 billion on Wednesday to its employees in a new tender offer for Japanese conglomerate SoftBank, according to a report in Reuters citing sources. SoftBank CEO Masayoshi Son, keen to expand his stake in the AI leader, plans to invest through Vision … Read more
The Board of Directors of NetSol Technologies Limited (PSX: NETSOL) has approved important decisions aimed at strengthening the company’s financial position and providing value to its shareholders. These decisions include the sale of 2 million treasury shares to employees under the Company’s stock options program and the launch of a repurchase plan for issued common … Read more
TRG Pakistan Limited announced that its partner, The Resource Group International Limited (TRGI), has finalized a definitive agreement with IBEX Limited, its Nasdaq-listed portfolio company. As part of the agreement, IBEX repurchased approximately 3.56 million of its shares from TRGI for a total transaction value of $70 million. TRG Pakistan Limited informed the Pakistan Stock … Read more