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

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

date:Posted: July 28, 2014
INTERNATIONAL. Janet Yellen is very different from any of her predecessors. She is likely the most dovish and politically leftist Fed Chair in the Central Bank's history; She sees the Fed's mission as a tool to promote progressive social policy.
date:Posted: July 28, 2014
QATAR. The potential in Indonesia is enormous and more rapid growth could generate opportunities for a number of foreign companies, says QNB Group report.
date:Posted: July 28, 2014
INTERNATIONAL. The diversified BBG Commodity Index was almost unchanged on the week; Geopolitical concerns will continue to play an important part when determining a price for crude oil.
INTERNATIONAL. In a presidential statement, the 15-member body expressed strong support for a ceasefire, and urged all parties to accept and fully implement it into the Eid period marking the end of the Muslim fasting month of Ramadan and beyond.
dhgate