Ferrari NV’s first-quarter profit jumped 36 percent as the Italian supercar maker benefited from demand for its priciest models, including the $2.1 million LaFerrari Aperta convertible and special editions created for its 70th anniversary. Adjusted earnings before interest, taxes, depreciation and amortization surged to USD265 million, Ferrari said in a statement yesterday. To drive growth, the company in March unveiled its new flagship 812 Superfast, the speediest production car in its history.
Belt-Road plan may top USD500 billion
China could pour more than half a trillion dollars into its Belt and Road Initiative, and the push for greater global influence looks even more promising with U.S. President Donald Trump pulling back from engagement, according to Credit Suisse Group AG. The plan could funnel investments worth $313 billion to $502 billion into 62 Belt-Road countries over the next five years, Hong Kong-based analyst Shen Hu wrote in a report Tuesday. In Africa, China may make additional investments of as much as $79 billion in 13 countries, she said.
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