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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 IMF has encouraged steps to lift subsidies and tighten public sector spending. (AFP/File)
April 26th, 2016 - 11:00 GMT

IMF encouraged by Saudi reforms but warns of up to $540B in losses over low oil

Qatar plans to announce five new routes this year. (Twitter)
April 26th, 2016 - 10:00 GMT

Qatar Airways treading carefully on Saudi's Al Maha, Italy's Meridiana deals

An official from the Jeddah Chamber of Commerce and Industry Telecommunication and Information Technology Committee suggested a gradual system of training Saudi employees to replace expatriates. (Qudrat.com.pk)
April 26th, 2016 - 09:00 GMT

Abrupt Saudization of mobile industry impractical and may backfire: experts

The gap in estimate means a NIS 100 billion reduction in revenue from gas sales and a reduction of more than NIS 50 billion in state revenues from taxation. (File photo)
April 26th, 2016 - 07:00 GMT

Dutch report cuts Leviathan gas estimates

Bloomberg reported a meeting between officials from Iran’s Qeshm Free Trade Zone and Bombardier on a project to set up an airline in the southern Qeshm island. (Omnifeed)
April 26th, 2016 - 06:06 GMT

Canada's Bombardier talks with Iran spark rumors of new airline launch

Increasing subsidy allocations will put stress on the state’s budget. (File photo)
April 26th, 2016 - 05:02 GMT

Egypt to increase subsidies in bid to battle food price hikes

Oil exports were not affected by the strike action.  (AFP/File)
April 26th, 2016 - 04:13 GMT

Kuwait suffered up to $200M in losses due to oil strike

More details of the sweeping changes are expected to be released shortly. (File photo)
April 25th, 2016 - 12:52 GMT

Saudi cabinet passes Vision 2030 plan, as the nation eagerly awaits details

Emirates has said it would now launch flights to Panama at the end of 2016 or in early 2017. (File photo)
April 25th, 2016 - 11:00 GMT

Holding out for a hub: Emirates pines for Panama

A row of tombs from the al-Khuraymat group, in the archaelogical Nabatean site of Mada'in Saleh. (Wikipedia)
April 25th, 2016 - 09:30 GMT

New Saudi initiative allows pilgrims to convert Umrah visas into tourist visas

The second phase of the project includes 300 residential units, 240 villas and five administrative buildings over 53,000 sq m of land.  (Sedra Homes)
April 25th, 2016 - 08:30 GMT

Dubai's Al Futtaim Group invests $279M in Cairo Festival City development

One of Israel's main concerns is that Russian involvement would forestall the development of Leviathan in order to prevent competition with Russian gas. (File photo)
April 25th, 2016 - 07:30 GMT

Russia's Gazprom eyes Leviathan gas investment

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