INFRASTRUCTURE-

#1- GRA updates road regulation for autonomous vehicles integration: The General Authority for Roads (GRA) updated the Saudi Roads Code, establishing a unified technical framework in preparation for the deployment of autonomous vehicles in the Kingdom, it said in a statement.

The code establishes infrastructure requirements, including the construction of durable pavement layers to withstand the unique traffic patterns of autonomous vehicles and the installation of real-time and visible communication systems in roads and parking areas.

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#2- The Al Baha Province will get 15 new water and sewage projects valued at over SAR 591 mn, the National Water Company (NWC) said on X. The projects include more than 534 km of pipelines, eight reservoirs with a capacity of 24.5k cbm, and stations capable of pumping over 16k cbm per day.

CONSTRUCTION-

Almoosa kicks off new hospital: Almoosa Health Company awarded a SAR 192 mn contract to Masah Specialized Contracting to build its new Almoosa Specialist Hospital project in AlHofuf, according to a disclosure to Tadawul. The 14-month contract will be financed via the public offering proceeds and long-term, shariah-compliant loans. Work at the site is set to start immediately, having already completed excavation and leveling works.

DEBT WATCH-

PIF-owned Helicopter Company (THC) secured an eight-year SAR 600 mn Islamic credit facility from the Arab National Bank, Aleqtisadiah reports. The loan will help the company adapt to changing market conditions, strengthen financial flexibility, and finance market expansion, as well as support future partnerships and investments.

BANKING-

STC Bank launched a new digital savings product called Numu+ to encourage customers to save money through its app, according to a press release. Saving is stimulated through rewards like luxury cars and electronics as savings grow.

INS.-

Tawuniya’s Fitch Ratings affirmed: Fitch Ratings affirmed the Company for Cooperative Ins.’s (Tawuniya) financial strength (IFS) rating at A (Strong) and national IFS rating AAA(sau), the credit rating agency said in a note. Robust, profitable growth and prudent underwriting metrics underpinned the rating.

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