Back to the complete issue
Tuesday, 13 September 2022

Taqa Arabia explores gas distribution in Saudi Arabia

Qalaa Holding subsidiary Taqa Arabia will explore ways to develop and operate gas transport services in Saudi Arabia after signing an MoU with the Natural Gas Distribution Company. The Saudi company said the agreement, signed on 6 September, is aimed at supporting its expansion plans and boosting profitability, in a disclosure to the Saudi stock exchange.

Medical training startup 5 Quarters has raised an undisclosed seed round from a Saudi angel investor, according to a press release picked up by Wamda. The company will use the funds to grow its footprint in Saudi Arabia and add new services to its platform, it said. The company, founded in 2016, offers online courses taught by certified professionals for doctors, dentists, pharmacists, and physiotherapists. It says it has c. 15k customers across Egypt, Saudi Arabia, Libya, Iraq, the UAE, Tunisia, and Jordan.

Other things we’re keeping an eye on this morning:

  • The Financial Regulatory Authority has revoked the licenses of both Al Ahly Financial Investments Management and Al Nahda Holding for Financial Investments, without disclosing any further details. (EGX bulletin, pdf | pdf)
  • The Grand Mufti approved the Giza criminal court’s decision to sentence to death Egyptian judge Ayman Haggag and his accomplice Hussein Al Gharabli for the murder of the Haggag’s wife, TV presenter Shaimaa Gamal. (Al Masry Al Youm)

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.