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Ferrari
October 12th, 2025 - 09:47 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 new changes represent the biggest overhaul of the sovereign wealth fund since 2014. (File photo)
May 17th, 2016 - 09:26 GMT

Qatar’s sovereign wealth fund restructures, creates $100B unit

Although low oil prices are having a varying impact on Mena countries economically, they are having little impact on M&A strategy. (Shutterstock)
May 17th, 2016 - 05:05 GMT

Gulf diversification drive to boost telecom, media and technology M&A activity

Al Bawaba
May 16th, 2016 - 12:00 GMT

Doha Bank teases plans for Iran entry

Kuwait’s Deputy Foreign Minister Khaled Jarallah said Saturday the market could not support a production increase from Iran, adding oil exporting countries must freeze output. (File photo)
May 16th, 2016 - 11:03 GMT

Kuwait calls on Iran to join oil production freeze plan

ADNOC is reported to be cutting some 5,000 jobs by the end of this year with 2,000 already carried out.  (ADNOC Groups)
May 16th, 2016 - 09:00 GMT

ADNOC layoffs: 5000 job cuts 'long overdue'

Given the current budget deficit, the government is expected to continue with a number of reform measures, bearing political risks, so as to reduce expenses according to S&P.  (File photo)
May 16th, 2016 - 08:00 GMT

No respite in sight for Egypt's currency crisis: S&P

Jakarta's Istiqlal mosque, the largest mosque in Southeast Asia. (Wikipedia)
May 16th, 2016 - 07:00 GMT

Islamic Development Bank Group to review $1.83B of international financing at Jakarta summit

Previously known as the Command and Control Center, the new facility will have 18,000 cameras which will be linked to smart applications in future. (File photo)
May 16th, 2016 - 06:00 GMT

Eyes in the sky: Mecca's mega security command center takes shape

The statement quoted Abu Hashima as saying that the channel's acquisition "comes in recognition of the role played by the Egyptian media." (Pinterest)
May 16th, 2016 - 05:00 GMT

Egypt: Naguib Sawiris' ONTV acquired by Abu Hashima's Egyptians' Media Company

Once commercially operational in early 2019 the plants will supply approximately 30% of electricity demand in the Sultanate of Oman. (Shutterstock)
May 16th, 2016 - 04:10 GMT

ACWA Power, Mitsui consortium awarded Oman's largest power plant project

A number of EgyptAir pilots had announced on Wednesday that they were on strike to demand higher pay and improved working conditions. (Wikimedia Commons)
May 15th, 2016 - 12:30 GMT

EgyptAir pilot strike resolved with 40 percent salary raise

The Organization of Petroleum Exporting Countries said in its latest monthly market report it estimated about $290 billion was cut from spending plans across the globe in the last year.  (AFP/File)
May 15th, 2016 - 11:30 GMT

Oil exploration and production spend to be halved over next two years: OPEC

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