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MANUFACTURING-
#1- Group Five Pipe will manufacture and supply spiral welded steel pipes to Aramco under a SAR 1.3 bn contract, it said in a disclosure to Tadawul yesterday. The contract runs for 12 months.
#2- East Pipes Integrated Company for Industry inked multiple steel pipes manufacturing and supplying contracts with Saudi Aramco worth SAR 1.7 bn, it said in a filing to the exchange. The contract is set to be fulfilled over 19 months.
AVIATION-
PIF-backed budget airline Flynas has launched its first direct flight to Najaf in Iraq from Dammam’s King Fahd International Airport, the General Authority for Civil Aviation said in a post on X.
BANKING-
Perfect Presentation (2P) has secured a SAR 135 mn Sharia-compliant loan from Alinma Bank, which it earmarked for financing new project awards, 2P said in a disclosure to Tadawul. The facility runs until 1 June 2025.
HEALTHCARE-
Gulf Union Al Ahlia Cooperative Ins. is set to provide health ins. coverage to the employees of local consultant Saeed Raddad Group under a freshly-inked agreement, it said in a filing to Tadawul. The one-year arrangement — which is valued at over 5% of the company’s gross premiums for 2023 — started on Sunday, 1 June and will include ins. packages for the employees’ family members.
