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Ferrari
October 12th, 2025 - 11:12 GMT
Sally Shakkour

Sally Shakkour

Worst day in history! Ferrari loses around $14 billion in 1 day

ALBAWABA - Ferrari lost nearly $14 billion in market value in a single day after revealing plans to produce its first fully electric car. The Italian luxury sports car manufacturer's stock fell 16 percent to $77 billion in one day, marking its worst trading performance ever. This sharp decline came after the Italian luxury car company announced its new five-year plan and details of the Ferrari Electrica electric model, sparking ...
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Viagra manufacturer Pfizer is one of the world's largest pharmaceutical companies. (AFP/File)
June 20th, 2016 - 08:00 GMT

Saudi Arabia to grant 3M, Pfizer operating licenses, mulls Apple entry

Milaha said it expects the deal to be completed in Q4 2016. (File photo)
June 20th, 2016 - 07:00 GMT

Qatar Navigation's Milaha to buy stake in Al Shaheen Energy Services

A potential combination of NBAD-FGB is expected to create the second largest bank in the Middle East after Qatar National Bank. (File photo)
June 20th, 2016 - 05:00 GMT

UAE: Proposed NBAD-FGB merger would create regional banking giant

Established in 1964, Americana, or Kuwait Food Company, is the parent group that brought to the Middle East more than a dozen major food brands like Pizza Hut, KFC, Costa Coffee and TGI Friday’s. (File photo)
June 20th, 2016 - 04:20 GMT

Alabbar's Adeptio buys $2.3B majority stake in Kuwait's Americana

230 of Iran's 250 planes need to be replaced. (Twitter)
June 19th, 2016 - 12:00 GMT

Iran strikes deal with Boeing for purchase of 100 planes

Fincantieri's Laksamana Class Missile Corvette, belonging to the Malaysian Navy. (Naval Technology)
June 19th, 2016 - 11:00 GMT

Qatar awards Fincantieri with $4.4B shipbuilding deal


The Kuwaiti parliament has approved a 2015-2020 development plan envisages investments totalling more than $100 billion in infrastructure projects in the country. (Cicadesign.ca)
June 19th, 2016 - 10:00 GMT

Italy's Salini Impreglio wins $955M Kuwait housing project contract

There is huge dip in the number of new projects in Oman due to lower oil prices and this has led to retrenchment of workers. (Arabian Business)
June 19th, 2016 - 07:45 GMT

Oman: Budget carriers in stiff competition as migrant workers leave 'by the thousands'

The UAE is set to be the first GCC country to introduce VAT in 2018 and is expecting to generate around Dhs 10bn to Dhs 12bn in revenues in its first year of implementation. (Shutterstock)
June 19th, 2016 - 06:00 GMT

UAE lays out first phase of corporate VAT policy

Boeing was pipped by European rival Airbus who signed a preliminary agreement in January to sell Iran 118 aircraft valued at $27 billion. (Wikimedia Commons)
June 19th, 2016 - 04:23 GMT

Financing issues present the last hurdle in Iran's 'historic' Boeing deal

A US found that integrating solar power into the grid is complex because, utility system operators would need to favor one source of supply over the other to maintain market balance. (Shutterstock)
June 16th, 2016 - 01:03 GMT

Renewable energy costs could drop by up to 59 percent in five years: IRENA

The plan envisages increasing the country’s refining capacity to about 3.2 million barrels a day by 2020 from 1.85 million currently. (Ship and Bunker)
June 16th, 2016 - 01:00 GMT

Iran plans to boost refinery capacity by more than 70 percent in four years

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