Saudi Arabia's Prince Alwaleed bin Talal will invest about US$800 million to expand the Four Seasons resort in Sharm El Sheikh, in partnership with Talaat Moustafa Holding, Egypt's Investment Minister Sahar Nasr said on Monday.
The billionaire prince Alwaleed's investment will also include establishing two new hotels in Al Alamein, a town on Egypt’s Mediterranean coast, and Madinaty, a residential compound east of Cairo, Mr Nasr.
Prince Alwaleed owns about 40 hotels and resorts in Egypt, in addition to 18 others that are still under construction.
In June, Egypt passed a long-delayed investment law that aims to make doing business there easier and lure back investors after years of turmoil following a political uprising in 2011.
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Read more:
Saudi billionaire Prince Al Waleed and Daimler invest in Dubai’s Careem
Profit rises at Prince Alwaleed’s Kingdom Holdings
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Egypt floated its pound currency in November and is making economic reforms under a three-year $12 billion IMF programme in an effort to restore capital flows after the uprising drove away investors and tourists.
* Reuters
Defined benefit and defined contribution schemes explained
Defined Benefit Plan (DB)
A defined benefit plan is where the benefit is defined by a formula, typically length of service to and salary at date of leaving.
Defined Contribution Plan (DC)
A defined contribution plan is where the benefit depends on the amount of money put into the plan for an employee, and how much investment return is earned on those contributions.
ROUTE TO TITLE
Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2
The specs: Taycan Turbo GT
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Power: 1,108hp
Torque: 1,340Nm
Transmission: Single-speed automatic (front axle); two-speed transmission (rear axle)
Touring range: 488-560km
Price: From Dh928,400
On sale: Orders open
Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)
Ultra processed foods
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Januzaj's club record
Manchester United 50 appearances, 5 goals
Borussia Dortmund (loan) 6 appearances, 0 goals
Sunderland (loan) 25 appearances, 0 goals
Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
The specs
Powertrain: Single electric motor
Power: 201hp
Torque: 310Nm
Transmission: Single-speed auto
Battery: 53kWh lithium-ion battery pack (GS base model); 70kWh battery pack (GF)
Touring range: 350km (GS); 480km (GF)
Price: From Dh129,900 (GS); Dh149,000 (GF)
On sale: Now
SPECS
Nissan 370z Nismo
Engine: 3.7-litre V6
Transmission: seven-speed automatic
Power: 363hp
Torque: 560Nm
Price: Dh184,500
