Bloomberg Warren Buffett shocked Tokyo markets last August with a $6 billion bet on the country’s five largest trading houses. One year on, his investments are paying off. Amid the surge in commodity prices, the collective value of Berkshire Hathaway Inc’s stakes in the five “sogo shosha” has risen by about $2 billion. That gain of more than 30% has ...

Bloomberg Stocks climbed, led by some of the world’s largest technology companies. Traders also assessed the impacts from Tropical Storm Ida, which sank insurers and energy firms, while pushing gasoline higher. The S&P 500 notched its 12th all-time high in August, and the Nasdaq 100 rallied as Apple Inc’s market value topped $2.5 trillion. Robinhood Markets and Charles Schwab Corp. ...

ABU DHABI / WAM Zaki Nusseibeh, Cultural Advisor to the UAE President and Member of the Board of Trustees of the Anwar Gargash Diplomatic Academy (AGDA) offered his greetings to the new cohort of Emirati students and future diplomats during the Academy’s orientation on Monday. The UAE’s leading diplomatic centre welcomed more than 60 students to its three programmes which ...

ABU DHABI / WAM President HH Sheikh Khalifa bin Zayed Al Nahyan has conferred the Medal of Independence of the First Order on Boukary Sidibe, Ambassador of Mali to the UAE, on the occasion of the end of his tenure in the country. Sheikh Shakhbout bin Nahyan bin Mubarak Al Nahyan, Minister of State, presented Ambassador Al Sidibe with the ...

NEW DELHI / WAM India’s discussions for concluding a Free Trade Agreement (FTA) with the GCC are “progressing fast”, the Minister for Commerce, Industry and Consumer Affairs, Piyush Goyal, said. Addressing a large cross-section of India’s business through the platform of the Jain International Trade Organisation, Goyal specifically cited the UAE as among the countries with which his Ministry is ...

ABU DHABI / WAM The Global Manufacturing and Industrialisation Summit (GMIS) and Etisalat have announced a partnership to accelerate the deployment of the fifth generation of wireless networks (5G) to promote digital transformation both in the UAE and globally. As a strategic partner to GMIS, Etisalat will share best practices from its experience in rolling 5G communication networks andoffering advanced ...

Bloomberg US gasoline futures jumped after Hurricane Ida barreled ashore in Louisiana, disrupting processing facilities. Oil reversed early gains as local rigs may have escaped significant damage and the Opec+ producers’ cartel is expected on Wednesday to endorse a supply increase. Gasoline for October spiked more than 4% in New York before paring its advance, while West Texas Intermediate crude ...

DUBAi / WAM Dubai Electricity and Water Authority (Dewa) issued its 8th annual Sustainability Report 2020, which focuses on Dewa’s efforts in promoting sustainability with its social, economic, and environmental aspects. This is achieved by adopting the best international practices as well as sustainable and integrated systems that ensure providing value-added services that meet stakeholders’ expectations. This reflects the importance ...

ABU DHABI / WAM Emirates Global Aluminium (EGA) on Monday reported a profit of AED1.74 billion ($473 million) for the first half of 2021, the company’s strongest half-year financial performance ever. EGA’s adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (adjusted EBITDA) was AED3.49 billion ($950 million), up 111 percent on the same period last year. Some 86 percent of ...

Abu Dhabi / WAM The Global Manufacturing and Industrialisation Summit (GMIS) and Etisalat announced a partnership to accelerate the deployment of the fifth generation of wireless networks (5G) to promote digital transformation both in the United Arab Emirates and globally. As a strategic partner to GMIS, Etisalat will share best practices from its experience in rolling 5G communication networks and ...