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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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Unemployment in Jordan has reached its highest level since 2008. (AFP/File)
May 31st, 2016 - 08:00 GMT

Unemployment is 'biggest challenge' for Jordan's new government

The Oman Power and Water Procurement Co (OPWP) recently signed agreements to establish two major independent power plants in Ibri and Sohar. (File photo)
May 31st, 2016 - 07:00 GMT

Oman needs $8B investment to keep pace with power demand: Apicorp

Fitch expects general government debt to grow to 90.5 percent of GDP in FY17, on the assumption that the pound will continue to weaken. (File photo)
May 31st, 2016 - 06:00 GMT

Fitch maintains 'B' ratings for Egypt

Last week, oil prices rose above $50 a barrel for the first time this year following supply disruptions in Canada and Nigeria and a decline in crude inventories in the United States. (Shutterstock)
May 31st, 2016 - 05:00 GMT

Oil may hit $60 by summer: UAE economy minister

The new sukuk issue followed DP World's successful refinancing of over $1.1 billion of the existing $1.5 billion 2017 sukuk.  (Port Technologies)
May 31st, 2016 - 04:02 GMT

DP World raises $1.2B in oversubscribed sukuk

BSA estimated the software piracy rate in Lebanon at 70 percent in 2015 compared to 71 percent in 2013 and 2011 and 72 percent in 2009. (Flickr)
May 30th, 2016 - 11:49 GMT

Lebanon's software piracy rate as high as China's: US report

The ministry seeks to produce 20 percent of new and renewable energy of the total national electricity grid by 2020. (File photo)
May 30th, 2016 - 10:59 GMT

Egypt partners with GDF Suez, Toyota and Orascom for wind power plant

Construction of pipeline infrastructure, the development of the gas fields and the pipeline to the Southern Turkish would cost about $4 billion alone. (File photo)
May 30th, 2016 - 10:00 GMT

Israel mulls European gas exports via Turkey

The LuLu group chairman announced that they have already invested SR1 billion in Saudi Arabia and intend to further invest SR800 million in the next two years. (YouTube)
May 30th, 2016 - 09:00 GMT

LuLu Group plans 12 more stores in Saudi Arabia by 2018

Investment in roads, infrastructure, water, sewage and desalination plants are being made thanks to Arab development fund grants. (Shutterstock)
May 30th, 2016 - 08:00 GMT

Egypt to establish $92M industrial zone in South Sinai

Shangri-La Hotel, Qaryat Al Beri, Abu Dhabi. (Shangri-La)
May 30th, 2016 - 07:15 GMT

New municipality fees at Abu Dhabi hotels to passed on to guests

The use of shocking images on cigarette packaging has been introduced in Australia. (Globedia)
May 30th, 2016 - 05:00 GMT

UAE to scare smokers with gory pictures, higher cigarette taxes

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