Senior Visa official lauds progressive steps taken by the UAE
Warren Buffett's Berkshire Hathaway holding company briefly crossed $1 trillion in market value Wednesday, making it the first non-tech firm on Wall Street to cross the milestone.
Buffett, who turns 94 on Friday, has been chair of Berkshire Hathaway since 1970, transforming it from a small textile company into one of the world's most valuable firms, and turning him into one of the world's richest men.
On Wednesday, Berkshire Hathaway's market capitalization briefly crossed $1 trillion in early trading, putting it in an exclusive club alongside tech titans like Apple, Nvidia and Microsoft.
It is the only publicly-traded non-tech firm other than Saudi Arabia's state-owned oil company Saudi Aramco to hit such heady heights.
Berkshire Hathaway's shares were up around 0.9 percent at 12:15 pm local time in New York (1615 GMT), valuing it at just under $995 billion.
The Nebraska-based firm's portfolio spans a vast array of sectors, including insurance, railroads, and retail.
Buffett, who has been dubbed the "Sage of Omaha," popularized a dispassionate, long-term approach to investing that ran counter to the short-term thinking of many market players at the time.
Buffett has been in a selling mood of late, convincing Berkshire Hathaway to dump large quantities of stock in some of its biggest holdings, including Apple and Bank of America, and accumulating vast cash reserves.
The firm has ploughed its growing cash pile into government bonds to such an extent that it now owns more short-term US Treasury bills than the Federal Reserve.
Senior Visa official lauds progressive steps taken by the UAE
Under its 'Journey 2030' strategy, it plans to bolster Abu Dhabi's role as a travel hub connecting Asia and Europe
Partnership aims to boost growth of companies operating within Dubai CommerCity and broaden their reach
Prize purse valued at over half a million dollars
Leaders underscored the need to explore new areas of untapped potential
Data highlights Abu Dhabi’s increasing attractiveness as a leading hub for technological innovation and business
Events such as the Dubai Shopping Festival, Pre-Ramadan, and Ramadan Sale impacted consumers spending
First timers should consider entry through an aggressive hybrid equity fund