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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

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Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

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The bank's profit crossed AED 1bn mark for the first time.

Work starts on Egypt’s $9bn high-speed train

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  • Egypt began implementing its first high-speed train project
  • The Egyptian contracting companies are completing the preparation of the road

Work began on Egypt’s $9 billion first high-speed train project, connecting the Red Sea coast with the Mediterranean coast, across a length of 660 km, and at a cost of nearly $9 billion.

According to local media reports, the Egyptian contracting companies are completing the preparation of the road path on which the high-speed train will run, while the construction of the stations on the track are also starting.

Siemens will implement the project’s signaling and communication systems and supply the trains that will operate on it after its implementation.