Saudi appoints Prince Salman crown prince
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Mon June 18, 2012 5:05 pm
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SAUDI ARABIA. Saudi Arabia's King Abdullah has appointed Defense Minister Prince Salman as crown prince and heir apparent, ensuring a smooth succession at a time of tough challenges for the world's biggest oil exporter.

The appointment, reported on state television, was announced in a royal decree one day after the burial of Crown Prince and Interior Minister Nayef, who died on Saturday.

Crown Prince Salman becomes Abdullah's third heir after the deaths of two elder brothers in the past eight months. He has built a reputation for pragmatism and is seen as likely to continue the king's cautious domestic reforms.

Prince Ahmed bin Abdulaziz, a younger brother of both Salman and Nayef, was named as the new interior minister after spending several decades as deputy interior minister.

The new crown prince will keep the defense portfolio and has been appointed deputy prime minister to King Abdullah, the royal decree said.

Salman, 76, a half-brother of the 89-year-old Abdullah, is likely to continue with cautious social and economic reforms as well as Saudi Arabia's moderate oil pricing policy, analysts said before his appointment.

He would also be likely to maintain the kingdom's alliances with Western and Sunni Muslim states, they said.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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QATAR. In the end, monetary policy can be powerful in the short-term but is unlikely to change the long-term predicament of the Euro Area. The ECB may succeed in preventing prolonged deflation from taking hold, but this is a not a sufficient condition for sustainable growth.
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INTERNATIONAL. Western politicians wishing to see a genuine resolution of Iran's nuclear crisis must continue with diplomatic efforts to isolate those among the Iranian rulers who wish for the collapse of the negotiations.
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SAUDI ARABIA. Often businesses will seek to explore the market through a partner or a third party with which employees are placed and through which they seek to operate in the Kingdom.
QATAR. In the end, monetary policy can be powerful in the short-term but is unlikely to change the long-term predicament of the Euro Area. The ECB may succeed in preventing prolonged deflation from taking hold, but this is a not a sufficient condition for sustainable growth.
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