Berkshire Hathaway buys the Omaha World-Herald, the hometown newspaper of its chairman, Warren Buffett.

Saudi Arabia posts a huge budget surplus for 2011 as income beats forecasts by more than double, official figures suggest.

China gains potential access to millions of barrels of oil as it wins a key approval for oil exploration in Afghanistan.

South Korea's consumer confidence posts its biggest fall in nine months on political outlook and eurozone debt crisis fears.

Communist Cuba expands its free-market reforms, opening more of the retail services sector to small private businesses.

Japan and India are set to unveil a new currency swap agreement aimed at easing potential short-term liquidity problems.

Tokyo Electric Power Company wants an additional 690bn yen to help compensate victims of the nuclear crisis.

Petroplus Holdings, Europe's largest independent oil refiner, sees its shares fall 40% after lenders freeze credit facilities worth $1bn.