HEALTHCARE-

Scientific & Medical Equipment House Co. secured a SAR 99.7 mn contract from Najran Region’s General Directorate of Health Affairs to carry out repairs and maintenance for medical devices and equipment across several hospitals in the Najran region, according to a disclosure on Tadawul. The contract is set to be implemented over a 5-year period, with financial impact expected to commence in the 2Q of 2025.

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FINANCIAL SERVICES-

Homegrown payment gateway HyperPay is now licensed as an Electronic Money Institution by the Saudi Central Bank, it said in a post on X.

About HyperPay: Founded in 2014 by Muhannad Ebwini (LinkedIn), the MENA-focused platform facilitates payment processing for online businesses, with operations in Saudi Arabia, the UAE, Bahrain, Jordan, and Egypt.

INFRASTRUCTURE-

Enowa + HRS set up hydrogen refuelling station in Neom: Neom’s energy and water company Enowa and France-based Hydrogen Refueling Solutions (HRS) installed a hydrogen refueling station in Neom, according to a press release (pdf). The station — housed at Petromin’s Heavy Machinery & Truck Service Center — will serve hydrogen-powered vehicles, including buses, trucks, and passenger cars.

CLIMATE-

Saudi Arabia now chairs the International Coral Reef Initiative, taking the helm from the US for the 2025-2027 term following an unanimous vote in September’s general meeting, state news agency SPA reports. Represented by the General Organization for the Conservation of Coral Reefs and Turtles in the Red Sea (Shams), the Kingdom will lead efforts to expand membership coverage to include 90% of the world’s coral reefs, up from the current 75% represented by 45 countries in the 102-member initiative. The Kingdom will also focus on enhancing monitoring via AI and integrate coral reef management into global frameworks.

DEBT WATCH-

MESC secures SAR 80 mn financing from SNB: Middle East Specialized Cables Company(Mesc) lined up a SAR 80 mn Sharia-compliant loan with the Saudi National Bank (SNB), according to a disclosure to Tadawul. The cable manufacturer will use the 12-month facility to secure its working capital needs and bank guarantees.

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