MANUFACTURING-

Consolidated Grünenfelder Saady Holding (CGS) secured two contracts worth SAR 195.5 mn from Aramco and Almarai, it said in two separate disclosures to the exchange yesterday. The company inked a SAR 166 mn contract with Aramco Nabors Drilling for a customized solutions project, while signing another contract worth SAR 29.5 mn with Almarai to provide stationary refrigeration solution for one of its food processing facilities in the Kingdom.

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EXPANSION-

HSBC secured a regional headquarters (RHQ) license from the Investment Ministry, as part of its expansion plans across the region, according to a press release published yesterday. Named HSBC Capital RHQ, the bank’s new entity will serve as the Capital Markets and Advisory business regional hub for the largest investment bank in the Middle East.

DEBT WATCH-

Perfect Presentation for Commercial Services (2P) secured a renewal of a SAR 135 mn shariah-compliant banking facility from Gulf International Bank, it said in a Tadawul disclosure yesterday. Valid through October 2026, the facility is secured by promissory notes and will be used to issue letters of credit, letters of guarantees and invoice financing to finance newly awarded projects.

MINING-

Saudi Arabian Mining (Ma’aden) and Almasane Alkobra Mining (Amak) inked an agreement to exchange exploration licenses, as part of a wider partnership, Amak said in a filing to the bourse yesterday. The move is still subject to a statutory withholding period and approvals from mining authorities. No further details were disclosed on the licenses or financials.

AVIATION-

#1- The General Authority of Civil Aviation (Gaca) inked an MoU with California-based Archer Aviation to test and operate air taxi services across the Kingdom, Gaca said in a statement. Under the agreement, the electric flying car manufacturer will assist Gaca in developing the regulatory framework for vertical take-off and landing (VTOL) aircraft operations, as well as performing test flights and proof-of-concept operations.

#2- Filipino Carrier Cebu Pacific Air will launch four weekly direct flights between Riyadh and Manila starting 1 March, 2026, running through 31 October, it said on X yesterday. Riyadh-to-Manila flights will run on Mondays, Tuesdays, Thursdays and Saturdays, whereas Manila-to-Riyadh flights will run on Mondays, Wednesdays, Fridays, and Sundays.

#3- Oman Air will launch a new direct route between Muscat and Taif starting 31 January, 2026 as the carrier’s fifth Saudi destination alongside Riyadh, Jeddah, Dammam and Madinah, Muscat Daily reported yesterday. Three weekly flights will run between the two cities on Tuesdays, Thursdays and Saturdays, on a Boeing 737 aircraft.

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