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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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The French economist's bestseller 'Capital in the Twenty First Century' was awarded the Financial Times and Mckinsey’s 2014 Business Book of the Year Award. (EcoPolitica.org)
June 5th, 2016 - 08:00 GMT

Lack of transparency about income and wealth in MENA allows for bad policies: PIketty

Dubai is focussing heavily on developing its renewable energy capabilities, specifically in solar power.  (File photo)
June 5th, 2016 - 06:00 GMT

Dubai to build world's largest concentrated solar power project

International carriers can stop selling tickets in Egypt, only selling through their websites where people pay with a  foreign exchange credit card, but this would reduce traffic. (File photo)
June 5th, 2016 - 05:00 GMT

Egypt's failure to pay airlines $291M puts country on 'a slippery slope': IATA

Mohammed Sanusi Barkindo from Nigeria (center) takes over as Secretary General from the start of August. (Nigeria Newsdesk)
June 5th, 2016 - 04:40 GMT

OPEC elects new head, downplays meeting deadlock

Workers were incensed that the firm did not pay them despite the Group reportedly receiving a $667M loan from Saudi British Bank and National Arab Bank. (Samaa.tv)
June 2nd, 2016 - 12:02 GMT

Binladin Group reportedly selling assets as workers continue to protest unpaid salaries

Uber serves more than 450 cities in more than 70 countries, and has previously attracted investment from Qatar, whose sovereign wealth fund took a stake in the company in 2014. (File photo)
June 2nd, 2016 - 11:31 GMT

Uber gets a $3.5B Saudi injection

Emirates NBD has already launched major digital banking initiatives in support of the country’s ‘smart city’ vision.  (File photo)
June 2nd, 2016 - 11:00 GMT

Emirates NBD to target millennials with $136M digital strategy

Arabtec's vice-chairman hopes the company's restructuring process will help improve the financial performance. (Ventures On Site)
June 2nd, 2016 - 10:00 GMT

Arabtec dips into reserves to stem losses

The report said that 91 percent of the 2 billion tons of rubble left by the war have been cleared. (AFP/File)
June 2nd, 2016 - 09:00 GMT

Gaza reconstruction: 60 percent funding shortfall in promised donations

The deal includes 80 train carriages to be given to the Egyptian National Railways as a “gift” worth a 100 million euro-grant from Hungary. (Shutterstock)
June 2nd, 2016 - 08:00 GMT

Egypt: Hungary to fund 700 train carriages in $1B deal

Slated to be operational in 2020, the plant will create 2,000 jobs in the kingdom. (Shutterstock)
June 2nd, 2016 - 07:00 GMT

Saudi Arabia: Aramco partners with GE and Italy's Cividale for $400M manufacturing plant

Egypt’s tourism industry, a vital source of foreign currency, has been hit hard following a series of crises in recent months. (File photo)
June 2nd, 2016 - 05:00 GMT

Egypt to support Sinai families hit by tourism decline

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