MUST-READS

• Economy
  Economic indicators point to Saudi Arabia’s sustained growth

  Saudi Arabia’s economic indicators last July point toward a sustained developmental growth in the Kingdom, Jadwa Investment said in its Saudi Chartbook for this month. It said the economic data for July was strong with the non-oil PMI expanding at the fastest rate since September 2012. Consumer spending also remained robust.

• Raef Badawi
  Harsher sentence for held Saudi activist

  An appeals court in Saudi Arabia has upheld the conviction of a human rights activist for "insulting Islam", ordering him to be jailed for 10 years and be lashed 1,000 times.

• Security
  Shots Fired at Saudi Pipeline Hint at Larger Concerns

  A small fire erupted on a gas pipeline in eastern Saudi Arabia on Tuesday after assailants shot at a security patrol, security and oil industry sources said, in an incident that may heighten concern about the vulnerability of Saudi energy infrastructure.

• Hajj
  Saudi Arabia: Over 60,000 security officers to be deployed in holy sites

  More than 60,000 security officers will be deployed in Saudi Atrabia's holy sites during this year's Hajj season to ensure the pilgrims are able to perform their rituals in peace and comfort, Maj. Gen. Osman Al-Mahraj, director of general security, has said.

  • Arab News - Few Saudi takers for Haj guide jobs
• Finance
  Emirates NBD Planning To Expand Saudi Operations

  “There’s a lot of quite interesting countries within the MENA, and one place we would like to get much bigger in is Saudi Arabia. That’s an obvious one for us – since it is biggest economy in the region. We have a large branch there, with 250 people, and we are the only UAE bank that has a fully-fledged branch in Saudi Arabia,” he said.

• Ma'aden
  Saudi Ma’aden, Alcoa start commercial ops at huge aluminium plant

  Saudi Arabian Mining Co (Ma'aden) said on Monday its joint aluminium smelter with U.S.-based Alcoa has started commercial operations. The $10.8 billion aluminium plant at Ras al-Khair, on the Gulf coast of the kingdom, had experienced issues during the initial start-up phase last year when it had to shut one of its two smelting lines in October due to problems encountered during ramp-up.

• Nitaqat
  Jobs for Saudis: Nitaqat rules tightened

  The Labor Ministry, which intends to tighten its noose on private firms that are reluctant to Saudize jobs, said newly employed Saudis should stay with a company for at least six months to be counted as a full Saudi worker under the Nitaqat program.

• Saudi National Guard
  Boeing awarded AH-6i contract for Saudi Arabia

  Although not disclosed in the DoD contract announcement, the end-user will be the Saudi Arabia National Guard (SANG), which is buying the AH-6i as part of a wider build-up of its rotary-winged capabilities that includes the procurement of 12 AH-64E attack helicopters and 24 Sikorsky UH-60M Black Hawk transport helicopters. This deal marks the first sale of the AH-6i for Boeing, although Jordan has signed a letter of intent for 18 such helicopters with an option for a further six.

• TASI
  Middle East funds see value in popular Saudi stock market

  “We believe that valuations in Saudi Arabia are beginning to look stretched at these levels,” said Vijay Harpalani, assistant fund manager at the UAE’s Al Mal Capital. “If we compare valuations, the market is trading at a premium to GCC, as well as emerging, markets.” However, managers think the Saudi market’s liquidity and diversity, as well as the macroeconomic stability provided by the country’s big current account and state budget surpluses, justify some degree of premium. They still see pockets of opportunity in some sectors.

• Islamic State
  Saudi court jails 17 for seeking to fight in Iraq

  A Saudi Arabian court jailed 17 men for up to 26 years on Monday for seeking to fight in Iraq and funding militants, official media reported, part of a security crackdown in which scores have been imprisoned in recent weeks.

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