CAIRO / Reuters Saudi Arabia and Egypt set up a $10 billion joint fund to develop a planned mega-city, committing more than 1,000 square kilometres in the south Sinai, as Crown Prince Mohammed bin Salman met President Abdel Fattah al-Sisi in Cairo. The deal came at the start of Crown Prince Mohammed’s first public trip abroad since becoming heir apparent ...

DUBAI / Reuters Saudi Arabia’s ACWA Power has selected JPMorgan, Citigroup to arrange the initial public offering of its shares, which could raise up to $1 billion, sources said. The two international banks have been selected as global coordinators and a third international bank is close to being chosen, one of the sources told Reuters. ACWA Power, a developer of ...

Bloomberg Toyota Motor Corp. plans to spend $2.8 billion to make sure its system for writing the software for self-driving cars will be just as efficient as the factories that build them. The company needs faster and more reliable methods for writing software because self-driving cars require “millions and millions’’ of lines of computer code, according to James Kuffner, who’ll ...