A fall below that level will lead to a cut in Saudi’s oil output and force high-cost oil projects to shut down.
Islamic Development Bank plans to issue the Islamic bond in June this year, its chairman has said.
The Gulf States, which met in Riyadh on Monday, have postponed talks of a possible integration.
Saudi’s GACA says new international airline licences will be operational by April next year.
The Kingdom’s oil minister Ali al-Naimi said that an oil price of $100 per barrel would be “great.”
Prince Alwaleed’s upcoming news channel, Al Arab will also be headquartered in Manama.
The Saudi billionaire is looking for returns of 20 to 25 per cent from the investments, he told a German paper.
Saudi also has 80 million oil barrels in storage for sudden need, the Kingdom’s oil minister Ali al-Naimi said.
Hotels in the Saudi Arabian city saw average occupancy rates of 81 per cent during the month.
The Gulf states have assured South Korea that they will make-up for any shortfall of oil supply from Iran.
Cosmetics and perfume shops in the Kingdom will only be allowed to employ women staff from June 30.
UK defence firm BAE is close to signing a deal to sell up to 30 Hawk aircraft to Saudi Arabia, according to reports.
The capital raised in Q1 2012 was almost four times higher than Q1 2011, but 63 per cent lower than Q4 2011.
Compared to the rest of the world, GCC nationals on average spend 260 per cent more on airfares.
Saudi Arabia expects the project to be completed in 2015, the General Authority for Civil Aviation has said.
Two Arabs made it onto the Sunday Times Global 50 rich list, with a combined fortune of $39 billion.
Private companies in Saudi who hire expatriates in excess over the number of Saudi employees will have to start paying penalties.
The Kingdom will grant new airlines licences in September to operate both locally and internationally.
London’s Heathrow Airport found that Saudi visitors were the Middle East’s biggest spenders in 2011.
The new units are being developed by Saudi’s housing ministry as part of a larger affordable housing strategy.
Prince Alwaleed’s Kingdom Holding Company said that net income during the first quarter of the year reached SR100.8 million.
While experts say the Kingdom is the best performing market in the region, they also warn investors to be patient while doing deals.
The bank reported a ten per cent year-on-year rise in first quarter profit earlier this year.
Saudi Basic Industries Corp recorded a five per cent year-on-year fall in net profit during the first quarter of the year.
Saudi Basic Industries Corporation will be distributing a dividend of SR5 per share to shareholders for 2011.
The travel firm had to cancel a similar sale two years ago due to a lack of demand.
The Kingdom stressed that it has not signed any deal with Sweden to help build a weapons factory in Saudi.
The Kingdom’s oil sector expanded 6.1 per cent during the fourth quarter of the year.
Al Rajhi Bank, SABB, Saudi Hollandi Bank and Banque Saudi Fransi recorded a rise in net profit during the first quarter of the year.
Around 77 per cent of Saudi firms are planning to hire more staff this year, according to a new survey.