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Talgo, a Spanish company, has been contracted by Saudi Arabia to build 20 high-speed trains.
The company, along with Spain's transport minister, announced on Sunday that Saudi Arabia had ordered 20 high-speed trains. Talgo announced in a?statement that the deal added 1.33 billion euro ($1.57 billion), bringing its backlog to nearly?6billion euros, which is a record. The contract also covers maintenance of the trains. The agreement will 'boost the reputation of Spanish rail, which suffered a heavy blow after a fatal train crash near Cordoba in last month. The accident raised concerns about whether the investment in maintaining the network keeps pace with a soaring passenger demand. In a X.com post, Transport Minister Oscar Puente praised the deal. He wrote: "We guarantee that (state rail company) @Renfe will continue to manage Saudi high-speed railway until 2038, and we'll purchase 20 new trains from @TalgoGroup for our companies with a total of 2.8 billion Euros." Since 2018, the Saudi Arabian rail system operates Talgo trains. The exchange rate is $1 = 0.8463 Euros (Reporting and editing by Joe Bavier; Reporting by Graham Keeley)
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El Al fined $39 Million by Israeli antitrust for price gouging in war
Israel's Competition Authority announced on Sunday that it would levy a fine on El Al Israel Airlines of 121 million shekels (about $39 mln) for setting unfair and excessive airfares during Israel’s Gaza War. The maximum fine allowed by law is the fine. The antitrust agency said that it had reviewed the period between October 7, 2023 and May 20, 2024, and found El Al to be a monopoly operator on 38 of its 53 routes, including New York, London and Paris as well as Bangkok and other destinations in the United States and Europe. The report found that the average ticket price rose by 16%, and in some cases as high as 31%. It noted that most foreign airlines had stopped flights. El Al "categorically rejected" the claim it charged excessive rates during the war. AIRLINE TO ARGUE a case in the future? It said that even if it accepted the Competition Authority's claim, which stated that the average price rise during the war was 16%, a number?we believe incorrect, there are no precedents to determine whether such an increase is excessive pricing. El Al is confident of its position being accepted at the hearing, as well as in any other appropriate legal forum. The antitrust body stated in a statement: "El Al’s price increases were excessive and unfair, and justified enforcement action by Competition Authority. It added that freedom of travel to and from Israel is a basic right. "Under the circumstances?of the war, exercising this rights became immeasurably important, especially during first months of combat... Consumers were almost completely dependent on El Al to provide an essential service of highest importance." No Sign of Lower Fares The evidence presented by the study showed that, despite the return of foreign airlines, it did not result in lower airfares because many consumers chose to buy tickets from El Al out of fear of cancellations. Competition authorities around the world use findings of "excessive pricing gouging" only 'rarely and with caution. During the war, smaller Israeli carriers Arkia (Israir) and Arkia (Arkia) also operated. El Al's net profit in 2024 increased by nearly five times to $545 million. Many passengers accused the airline of price-gouging. In the first nine-months of 2025, it made $364.1 millions.
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Meloni and IOC condemn clashes after protests in Olympic host Milan
Giorgia Melons, the Italian prime minister, called anti-Olympics demonstrators "enemies" of Italy after violence on the fringes a protest in Milan Saturday night and sabotage of the national rail system. The International Olympic Committee (IOC)?also??joined the criticism by saying that violence has no place in the Games. The incidents occurred on the first day of competition at the Winter Games, which Milan, Italy's capital of finance, and the Alpine town Cortina D'Ampezzo are hosting. Meloni thanked the thousands of Italians working to ensure the Games ran smoothly and presented a positive image of Italy. "There are also those who are against Italy and the?Italians. They demonstrate 'against Olympic' and ensure that these images appear on TV screens all over the world. She wrote about it on Instagram Sunday. "After others?cut railway cables to stop trains from leaving," she said. After the railway sabotage in Bologna, the Italian Transport Ministry announced that an investigation into suspected terrorism was launched. GAMES SEEK UNITY A group consisting of 100 protesters, who broke away from the main demonstration in Milan, hurled firecrackers at police officers and threw smoke bombs. They also threw bottles. A protest of 10,000 people took place in the streets to protest housing costs and concerns about the environment linked with the Games. "Peaceful demonstration is perfectly legitimate... we draw a line against violence." Mark Adams, IOC spokesperson, told a press conference that violence has no place in the Olympic Games. "We need to move forward with the Games, which will send a strong message of unity and peace around the world. I believe that this is a very important moment at the present time." Three separate incidents occurred on Saturday at different locations in the rail network, causing delays of up to two and a half hours for regional, high-speed and Intercity services. The Transport Ministry stated that "decisional action will be taken" to stop such "unacceptable acts", which cause inconvenience for millions of Italians. The damage has not been attributed to anyone. It is reminiscent of the chaos caused by sabotage on the first day of the Summer Olympic Games 2024 in Paris when saboteurs attacked France's TGV high-speed train network. (Written by Keith Weir, edited by Aidan Lewis and Hugh Lawson).
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Ukraine sanctions foreign suppliers of missile components to Russia
On Sunday, Ukrainian President Volodymyr Zelenskiy announced that he would impose sanctions on certain foreign manufacturers who produce components for Russian drones and rockets used against Ukraine. Zelenskiy, a Russian journalist on X, said: "It is impossible to produce this weaponry without the critical foreign components that Russia continues to obtain through circumventing sanctions." "We will introduce new sanctions against such companies, including component suppliers and manufacturers of drones and missiles. I have signed all relevant decisions. According to two decrees published by the Ukrainian president, sanctions are being imposed on several Chinese companies, as well as companies from the United Arab Emirates, Panama, and the former Soviet Union. In recent months, Russia increased its missile and drone attacks against Ukraine despite negotiations to end the war. Its focus was on the energy and logistics sectors. Zelenskiy stated on X, that Russia has launched over 2,000 drones and guided aerial bombs in the last week. Strikes at power stations and substations left whole regions without electricity and heating. In the capital Kyiv, blackouts lasted up to 20 hours. Zelenskiy also said that he had imposed sanctions on the Russian financial sector, and against bodies and individuals who support Russian crypto markets and mining operations.
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American Airlines CEO meets with pilots union to discuss concerns
Robert Isom, American Airlines' CEO, said on Saturday that he would be meeting with the carrier's Pilots Union as soon as he could. Aviators are growing increasingly concerned about the company's handling of recent storms and financials. Isom wrote to Allied Pilots Association president Nick Silva that he had discussed with the board of the U.S. airline?the union’s request for a meet-up. Isom wrote in a letter to? that "the Board and I are aligned with you" in their desire to make American Airlines the'strongest airline in every way possible." The union that represents more than 16,000 American Airlines Pilots asked management on Friday to bring their concerns to the board of directors. Pilots are asking for this as the airline is trying to convince investors that it can close a gap in profits with its?rivals, and bring about a sustained turnaround. Employees have also criticized the carrier's handling of a storm that hit the United States in January. The Allied Pilots Association Board of Directors wrote on Friday to the board of directors of the carrier, "This assessment does not result from a single conversation with management, a?isolated operation disruption, or a?individual?earnings statement; it's the result persistent patterns of operational and cultural shortcomings, as well as strategic weaknesses."
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Suspected saboteurs hit Italian rail network near Bologna, police say
Transport Ministry: Saboteurs damaged rail infrastructure near the northern Italian city Bologna Saturday morning, disrupting train travel on the first day of the Winter Olympic Games. Three separate incidents were reported by the police at three different locations. These caused delays up to two and a half hours for regional, high-speed, and Intercity services. The Ministry called it "serious" sabotage, adding that it was reminiscent of the opening day for the Summer Olympics in Paris 2024, when saboteurs attacked France's TGV high-speed train network, causing chaos. The ministry headed by Matteo Salvini, the Deputy Prime Minister, said that "these?actions... of unprecedented seriousness" do not tarnish Italy’s image around the world. Ferrovie dello Stato, the state-owned railway, temporarily closed its high-speed Bologna station, but said that traffic had slowly returned to normal by Saturday's afternoon. The police said that a cabin containing a track switch was set ablaze before dawn in the Adriatic city Pesaro. A few hours later, in Bologna electrical cables that were used to detect train speed were severed. Meanwhile, a crude?explosive was found near a track. A spokesperson said that no one has claimed responsibility for the incidents which appear to have been coordinated. Bologna is the major east-west railway junction in Italy. It is also a key hub connecting the southern cities of Milan and Venice to the northern cities. Milan and Cortina are co-hosts of the Winter Games. Cortina is accessible by train from Venice. (Reporting and editing by Aidan Lewis, Kevin Liffey and Crispian Balmer)
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Algeria cancels air service agreement with UAE
Algeria is in the process of cancelling the air'services agreement' it signed with the United Arab Emirates in Abu Dhabi, in May 2013. Algerian media outlets, however, have been harshly critical of the UAE over the past few months. They accuse them of trying to sow discord in the region. The?North African nation's state-owned radio reported that "Algeria initiated procedures to halt the air services contract with the United Arab Emirates signed in Abu Dhabi on the 13th of May 2013, and ratified through a...presidential order dated the 30th December 2014". According to Article 22 of this agreement, the Emiratis must be notified formally of the termination via diplomatic channels. "The Secretary-General of International Civil Aviation Organization will also be notified to take the necessary procedures in the organization." The UAE has not yet responded to the question. Abdelmadjid Tebboune, the Algerian president, said in October of last year that his country's relationship with all Gulf States was warm, except for one country. This was a thinly-veiled reference to UAE. He described the relations between Saudi Arabia, Kuwait and Qatar as "brotherly". He accused an unnamed nation of interfering in Algerian internal affairs and trying to destabilise the country. (Reporting and writing by Tarek Amara; Editing by Toby Chopra).
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Saudi Arabia announces major new Syria investments
Saudi Arabia announced a major package of investments in Syria on Saturday, covering energy, aviation and real estate, as the kingdom positioned itself as an important supporter of Syria's?new leadership. Saudi Investment Minister Khalid al-Falih announced on Saturday that Saudi Arabia has launched an investment fund for Syria, which will commit a total of?7.5 billion Saudi Riyals ($2 billion) over several phases to the development of two airports in Aleppo. Falih said that the Elaf Fund will finance large-scale Syrian projects with private sector investors from Saudi Arabia. Saudi flynas, a budget airline in Saudi Arabia, and the Syrian Civil Aviation Authority have signed an agreement for a new airline called "flynas Syria". Flynas and the Syrian side will each own 51% of the joint venture, while the other 49% will be owned by flynas. The company stated that operations are expected to start in the fourth quarter 2026. SAUDI ARABIA BACKS SYRIA'S NEW LEADERSHIP Saudi Arabia has been supporting President Ahmed al-Sharaa, who came to power late in 2024 after the ouster Bashar al-Assad, at the head a coalition islamist opposition factions, since his arrival. The sanctions were a major obstacle to the economic recovery of Syria after a 14 year civil war which caused extensive damage in many parts of the country, and resulted in millions of people being displaced. Riyadh announced last year $6.4 billion in investments. These were split into 47 deals, with over 100 Saudi companies involved in real estate, infrastructure and telecoms. Both sides signed a Memorandum of Understanding and a Joint Development?Agreement with Saudi Arabia’s ACWA Power, and the Saudi Water Transmission Company. This agreement outlines a roadmap to cooperation in the?water sector. Mohamed al-Bashir, the Energy Minister of Syria, said: "We are planning to build a seawater-desalination facility to deliver fresh water to the southern part of the country from the Syrian coastline." Over the last year, the interim government has been criticized for promising broad development based on memorandums of understanding with foreign investors. Many have not yet been converted into contracts.
Meloni condemns "enemies" of Italy after clashes at the Olympic host city Milan
Giorgia Melons, the Italian prime minister, has called anti-Olympics demonstrators "enemies" of Italy after violent incidents on the fringes?of a protest in Milan Saturday night?and sabotage?attacks?on the national rail network.
The incidents occurred on the first full day of competition at the Winter Games, which Milan, Italy's capital of finance, hosts with the Alpine village of Cortina D'Ampezzo.
Meloni thanked the thousands of Italians working to ensure the Games ran smoothly and present a positive image of Italy.
"There are also those who are hostile to?Italy or Italians and are demonstrating against the Olympics and making sure that these images appear on television screens all over the world. She wrote on Instagram that others had cut the railway cables in order to stop trains from leaving.
After breaking away from a large demonstration in Milan, a group of about 100 protesters hurled 'firecrackers smoke bombs and bottle at police.
A protest of 10,000 people took place in the streets to protest housing costs and the environmental impact of the Games.
Six people were arrested after police used water cannons to restore order.
Authorities said that saboteurs also damaged rail infrastructure in the area of Bologna (a northern Italian city), disrupting train journeys.
Three separate incidents were reported by the police at three different locations. These caused delays up to?to 2 1/2 hours for regional, high-speed and Intercity services.
No one has claimed liability for the damages.
Meloni added, "Once more, I am in solidarity with the police and the city of Milan as well as all those who are going to be affected by the criminal gangs." Meloni is the leader of a right-wing alliance.
After violence at a protest of the hard left in Turin last weekend, which injured more than 100 officers, the Italian police has been granted new arrest powers. (Written by Keith Weir, edited by Aidan Lewis).
(source: Reuters)