Saudi crown prince visits Cairo, signs $10bn deal to develop mega-city in Sinai

Saudi Arabia and Egypt have set up a $10 billion joint fund to develop a planned mega-city, committing more than 1,000 sq km in the south Sinai, as Crown Prince Mohammed bin Salman met President Abdel Fattah el-Sisi in Cairo. The deal on Sunday came at the start of Prince Mohammed’s first public trip abroad since becoming heir apparent last year and purging the kingdom’s business and political elite in a crackdown on corruption, Reuters said. Egypt and Saudi Arabia have strengthened ties since Sisi took power in 2013 after ousting the Muslim Brotherhood, which both countries have banned and designated as a terrorist organization.