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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 city  is set to house 25,000 residential units. (Shutterstock)
May 11th, 2016 - 02:00 GMT

Kuwait signs $4B deal with South Korea to build new smart city

Around 170,000 German tourists visited Egypt in the first quarter of 2016, mainly frequenting the popular Red Sea beach resorts of Sharm and Hurghada. (Wikipedia)
May 11th, 2016 - 01:00 GMT

Germany lifts ban on flights to Sharm El-Sheikh

The response to the bond issue is being viewed as a vote of confidence for the emirate. (File photo)
May 11th, 2016 - 12:00 GMT

Investors rush to Abu Dhabi's $5B bond issue

In 2013, Majid Al Futtaim signed a joint venture agreement with Abercrombie for stores in the UAE and Qatar.  (Abercrombie)
May 11th, 2016 - 11:00 GMT

Majid Al Futtaim eyes Gulf expansion for Abercrombie & Fitch franchise

Bouygues Travaux Publics already completed, as part of a Franco-Egyptian consortium, lines 1 and 2 of the Cairo Metro network.  (Bouygues)
May 11th, 2016 - 10:00 GMT

Egypt: Orascom Construction wins $308M tender for Cairo Metro project

The tube-launched, optically-tracked, wireless-guided (TOW®) Weapon System is the premier long-range, heavy assault-precision anti-armor, anti-fortification and anti-amphibious landing weapon system used throughout the world today. (Wikimedia Commons)
May 11th, 2016 - 09:00 GMT

Jordan signs deal with US for Raytheon missile system

Saudi Arabia is expected to sell up to five percent of Aramco via an initial public offering. (Oilpro)
May 11th, 2016 - 07:52 GMT

Saudi Aramco to go global with joint ventures

The move could allow Egypt's fixed-line monopoly Telecom Egypt to enter the mobile phone services market. (File photo)
May 11th, 2016 - 05:00 GMT

Full speed ahead: Egypt to grant 4G telecoms licenses shortly

The transport committee chairman claims the sector is rejected by Saudis because of the difficulty of the work. (Shutterstock)
May 11th, 2016 - 04:18 GMT

Saudi's transport committee calls for easing Saudization requirements

Jordan's Queen Rania visits the Princess Taghreed School for Girls in Amman. (QueenRania.jo)
May 10th, 2016 - 12:00 GMT

Jordan: Umniah to link 3000 schools to integrated IT network

Egypt saw 440,700 tourists visit in March, 47.2 percent lower than the same month last year. (File photo)
May 10th, 2016 - 11:00 GMT

Egypt's tourist numbers decline for fifth consecutive month

The Panama Papers, revealed last month, included the names of 12 heads of state and 143 politicians linked to offshore accounts. (panamapapers.icij.org)
May 10th, 2016 - 10:00 GMT

Panama Papers go public: Leaked documents now available online

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