Billionaire Saudi prince to invest about $800 million in Egypt

Saudi Arabia's Prince Alwaleed bin Talal will invest about $800 million to expand the Four Seasons resort in Sharm el-Sheikh, in partnership with Talaat Moustafa Holding Group, Egypt's Investment Minister Sahar Nasr said on Monday.

A file photo dated 24 May 2009 shows Saudi Prince Al-Waleed bin Talal. Source: AAP Image/ EPA/YAHYA ARHAB