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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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Although the introduction of a GCC-wide value added tax (VAT), and other fees, charges, and excises have been announced, most GCC countries have not yet increased non-oil revenues in a meaningful way. (AFP/File)
June 9th, 2016 - 11:00 GMT

Fiscal efforts to bridge GCC budget deficits still falling short: IMF

Qatar and the US signed a 10-year defense cooperation agreement in late 2013. (Wikimedia Commons)
June 9th, 2016 - 10:00 GMT

Qatar to receive 24 Apache helicopters from US under $667M Boeing deal

Despite the mineral-rich concessions on offer and the 2014 law, analysts predict a tepid response to this month's tender. (Shutterstock)
June 9th, 2016 - 09:00 GMT

Gold in them hills: Egypt hopes to strike up gold mining investment with new tender

The airline has reined in its network to focus primarily on regional routes. (File photo)
June 9th, 2016 - 08:00 GMT

Not out of the red yet: Gulf Air reports 62 percent reduction on 2014 losses

Goals to reduce government spending on wages by 5 per cent (by SAR24 billion) will likely largely be achieved by not replacing the people leaving the public sector workforce and benefit cuts. (File photo)
June 9th, 2016 - 07:00 GMT

Saudi's bold reform targets require further formulation, economists warn

Among MENA's greatest risks are a further slide in oil prices, escalation of conflict, and further negative effects of security challenges and social unrest in countries not entrenched in war. (File photo)
June 9th, 2016 - 05:00 GMT

Slow growth ahead: World Bank downgrades global forecast to 2.4 percent

The proposed merger would create a bank with combined assets of almost $16 billion, according to Bloomberg. (File photo)
June 9th, 2016 - 04:19 GMT

Proposed merger of Bank Sohar, Bank Dhofar will create Oman's second largest bank

British Airways suspended flights to Sharm El Sheikh in November 2015 following a plane crash in Sinai which killed 224 people, mostly Russian tourists. (Twitter)
June 8th, 2016 - 12:00 GMT

British Airways hopes to resume flights to Sharm El Sheikh in September

Citibank has been the anchor tenant since the building’s completion in 2011. (Twitter)
June 8th, 2016 - 11:00 GMT

QIA buys Singapore's Asia Square Tower for record $2.45B

Iran will need at least 250-300 aircraft over the next decade to replace its aging fleet. (File photo)
June 8th, 2016 - 10:00 GMT

Iran Air's 'historic' deal with Boeing still faces issues to resolve

Egypt also plans cooperation with Jordan and the UAE on developing nuclear power. (File photo)
June 8th, 2016 - 09:00 GMT

Egypt-Saudi electricity linkage project nears completion

“The rebound in prices is probably a vindication of the OPEC policy of the past two years, although the trajectory for the balance of the year is likely to remain very volatile,” said the managing director of the DME.  (File photo)
June 8th, 2016 - 08:00 GMT

Oman crude oil prices jump nearly 100 percent from January lows

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