Petrol prices will stay the same for the fifth consecutive month
The stockpile climbed by about SAR3bn ($800m) to reach $445bn
Most of the affected employees are based at Binladin’s headquarters in Jeddah and work in its construction unit
While oil has rebounded rapidly since April as OPEC+ production cuts kicked in and US output fell, the rally fizzled last week
The energy sector continues to be the biggest pillar powering the growth of GCC economies. But as it reels with the impact of the historic oil price drop and the Covid-19 pandemic, is the outlook for the future brighter?
An interest-free loan programme for military personnel which covers 20 per cent of a property will be suspended from May 31
Employment across the GCC could fall by around 13 per cent due to the impact of the coronavirus
The kingdom has hiked its VAT rate from 5 per cent to 15 per cent starting July 1
Aramco is weighing pushing out payments for the 70 per cent holding in SABIC and reducing the size of the initial installment to PIF
The steps taken to shore up revenue and rationalise spending are valued at about SAR100bn in total
Brent crude averaged $64.12 a barrel in 2019 compared with $71.67 the previous year
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