ENERGY-

The Saudi Natural Gas Distribution Company will establish a company in Saudi Arabia with Qalaa Holdings’ Taqa Arabia, it said in a disclosure to the Saudi stock exchange. The disclosure did not reveal any details. The two sides signed an MoU last year to explore ways to develop and operate gas distribution services in the country.

FINTECH-

Dubai-based fintech Network International has launched a digital payments service in Egypt, it said in a press releaseon Monday. The Networkpay service offers point of sale (POS) and other online payments channels to businesses, as well as payment plans with banks and tie-ins with fintechs offering loyalty programs, including EFG Hermes’ valU and Zeal, the statement reads.

MANUFACTURING-

Moussy: Made in Egypt. F&B player Ayman Shahin Group, in partnership with the Danish brewer Carlsberg, has inaugurated the country’s first Moussy Malt beverage factory, with investments of USD 20 mn, it said in a statement (pdf) yesterday.

DEBT-

Sukuk issuance up Amer Group’s sleeve? Amer Group is reportedly studying an EGP 1.5 – 2 bn sukuk issuance, Al Borsa reported yesterday, citing unnamed sources. The firm plans to take the sharia-compliant securities to market within two months.

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