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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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Last April, Saudi Arabia and the United States had added a number of organizations on their lists of terrorist groups. (File photo)
June 16th, 2016 - 12:30 GMT

Saudi Arabia tightens bank transfer procedures to Lebanon to prevent Hezbollah funding

Egypt's Central Bank has sought to crack down on the black market, revoking the licenses of exchange bureaus found dealing far beyond the official rate. (AFP/Khaled Desouki)
June 16th, 2016 - 11:43 GMT

Egypt's black market currency traders take their business abroad

Muscat Finance has achieved a net profit of OMR1.21 million for the first quarter of 2016, against OMR1.26 million for the same period of last year. (File photo)
June 16th, 2016 - 10:30 GMT

Muscat Finance plans $13M bond issue

The AC-208 is based off ATK's Cessna 208 Caravan aircraft. It provides intelligence, surveillance and reconnaissance capabilities and can be armed with Hellfire missiles. (Wikimedia Commons)
June 16th, 2016 - 08:30 GMT

Iraq: US green lights proposed $181M aircraft maintenance deal

The Facilitation Agreement is one of the most important agreements of the multilateral trade system of the WTO and the first to be added after 18 years of the establishment of WTO. (Flickr)
June 16th, 2016 - 07:30 GMT

Saudi Arabia becomes second Arab country to ratify WTO Trade Facilitation Agreement

Technological advances and consumer preferences over the years has drastically reduced demand for luxury Egyptian cotton. (Shutterstock)
June 16th, 2016 - 05:41 GMT

Egyptian cotton industry crippled by cut subsidies, falling demand

With markets already balancing on the back of modest global economic growth, the price for crude oil last week topped $50 per barrel for the first time in nearly a year. (File photo)
June 16th, 2016 - 04:37 GMT

Brexit fears, Goldman Sachs report drive oil prices below $50

Microsoft will benefit from LinkedIn’s ‘Sponsored Content’ space by enhancing its business to business marketing offering. (File photo)
June 15th, 2016 - 01:00 GMT

Microsoft's LinkedIn acquisition creates new opportunities in the Middle East

Commerzbank declined to comment on the Der Semit's account due to data protection and bank secrecy laws.  (Opednews.com)
June 15th, 2016 - 12:00 GMT

Germany's Commerzbank shuts anti-BDS account in landmark move

The development plan approved in December 2015 plan would increase funding for housing, education, employment of Arab women, infrastructure, welfare services and public transport in Arab localities. (AFP/File)
June 15th, 2016 - 10:00 GMT

Israel downplays delay in $645M Arab budget allocation

Investment-friendly government policies and overall ease of doing business has made the US more attractive to global sovereign investors, says an industry expert. (File photo)
June 15th, 2016 - 08:00 GMT

Middle East sovereigns remain bullish over US investments

The threat to local retailers might turn into an opportunity if these companies restructured their balance sheets and concentrated on niche markets, one economist says. (Mall of Arabia)
June 15th, 2016 - 07:00 GMT

Saudi Arabia: Law permitting 100 percent foreign investment in retail will boost sector

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