Bloomberg Warren Buffett’s surprise bet on Japan’s trading houses is paying off as the companies expect a record-breaking rebound in profits. The trading companies, known as “sogo shosha” in Japan, boosted their net income outlook after the rebound in prices of everything from crude oil to iron ore. Buffett shocked the world in 2020 when Berkshire Hathaway Inc announced ...

  Bloomberg Oil retreated from a fresh seven-year high as Opec+ agreed to another modest hike in output and Iran said its ready to supply markets quickly if sanctions are removed. West Texas Intermediate edged lower 0.2% after hitting its highest level since 2014 earlier in the session. Global benchmark Brent traded near $89 a barrel, with prices steeply backwardated ...

  Abu Dhabi / WAM The UAE has welcomed the apology made by Mohamed Hussein Roble, Prime Minister of the Federal Republic of Somalia, for the incident that took place at Mogadishu Airport in April 2018, involving seizure of funds and aid sent to support the people of Somalia. The Ministry of Foreign Affairs and International Cooperation said in a ...