Saudi Arabia's King Salman has designated his crown prince to attend a Gulf Arab summit with US President Barack Obama, the state news agency, SPA, reported on Sunday, just two days after the White House said the monarch would attend the gat
Saudi Arabia's index roses in early trade, recovering the previous day's losses, with the death of the kingdom's crown prince no longer affecting the market. The benchmark climbed 0.3 per cent to hit 6,745 points.
It fell 0.3
Crown Prince Nayef, the new heir to Saudi Arabia's King Abdullah, warned that the kingdom would use 'all means' to ensure a peaceful Haj pilgrimage amid tumult in other Arab countries and rising tensions with Iran.
Saudi Arabia's King Abdullah has appointed Interior Minister Prince Nayef as the new crown prince, the Royal Court said in a statement issued on Friday, signalling an orderly process of future succession in the world's largest oil exporter.
The funeral of Saudi Arabia's Crown Prince Sultan on Tuesday sets the stage for King Abdullah to appoint a new heir, widely expected to be veteran Interior Minister Prince Nayef.
'In the political system this is an important event,