Wednesday, Northrop Grumman Corp. (NOC) said it bagged a contract to continue the modernization and training of the Saudi Arabia National Guard or SANG from the U.S. Army. The contract has a potential value of $550 million. The five-year, cost-plus-award-fee hybrid contract also contains fixed-fee and firm-fixed-price elements.
Under the terms of the contract, Northrop Grumman said its unit Vinnell Arabia LLC will provide U.S. Army-based doctrine and military training as well as logistics and support services that will further contribute to SANG fulfilling its national defense mission with self-sustained command, control and operational capabilities. Work will be performed throughout the Kingdom of Saudi Arabia.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.