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 6, 2015
UAE. Business doesn't predict a plunge, London Business School survey finds; Only 3% of those surveyed expect an annual decline larger than 20%; Over a third cited a strong economic outlook.
date:Posted: July 6, 2015
INTERNATIONAL. Pretend and extend died last night, hopefully it will be replaced with a normal business cycle, normal ebbs and flows, but first politicians will try to save face by trying to do just one more round of pretend-and-extend, but the patient has died.
date:Posted: July 6, 2015
UAE. Marked slowdowns in growth of output and new business were at the forefront of the overall deceleration, while employment continued to rise at a solid pace.
INTERNATIONAL. Pretend and extend died last night, hopefully it will be replaced with a normal business cycle, normal ebbs and flows, but first politicians will try to save face by trying to do just one more round of pretend-and-extend, but the patient has died.
dhgate