What's new

Saudi King’s Son Plotted Effort to Oust His Rival

Khanate

SENIOR MEMBER
Sep 16, 2016
2,928
7
5,208
Country
Pakistan
Location
Pakistan
Saudi King’s Son Plotted Effort to Oust His Rival
BEN HUBBARD, MARK MAZZETTI, ERIC SCHMITT | JULY 18, 2017

lead_960.jpg


Excerpt:

On the night of June 20, a group of senior princes and security officials gathered at the Safa Palace in Mecca after being informed that King Salman wanted to see them, according to United States officials and associates of the royal family.

It was near the end of Ramadan, the Islamic holy month, when Saudis were preoccupied with religious duties and many royals had gathered in Mecca before traveling abroad for the Eid al-Fitr holiday. That made it advantageous for a change, analysts said, like a coup on Christmas Eve.

Before midnight, Mohammed bin Nayef was told he was going to meet the king and was led into another room, where royal court officials took away his phones and pressured him to give up his posts as crown prince and interior minister, according to United States officials and an associate of the royal family.

At first, he refused. But as the night wore on, the prince, a diabetic who suffers from the effects of a 2009 assassination attempt by a suicide bomber, grew tired.

Meanwhile, royal court officials called members of the Allegiance Council, a body of princes who are supposed to approve changes to the line of succession. Some were told that Mohammed bin Nayef had a drug problem and was unfit to be king, according to an associate of the royal family.

For years, close friends of Mohammed bin Nayef had expressed concern about his health, noting that since the assassination attempt, he had experienced lingering pain and shown signs of post-traumatic stress disorder. His condition led him to take medication that some friends worried he had become addicted to.

“The weight of the evidence I have seen is that he was more injured in the assassination attempt than was admitted and that he then got onto a pain killer routine that was very addictive,” said Bruce Riedel, a former Central Intelligence Agency officer and director of the Intelligence Project at the Brookings Institution. “I think that problem got progressively worse.”

One American official and one adviser to a Saudi royal said Mohammed bin Nayef opposed the embargo on Qatar, a stand that probably accelerated his ouster.

Sometime before dawn, Mohammed bin Nayef agreed to resign. A video shot afterward shows Mohammed bin Salman kissing his hand.

“We will never dispense with your instructions and advice,” the younger prince says.

“Good luck, God willing,” the older prince replies.

Mohammed bin Nayef then returned to his palace in the Red Sea port city of Jidda, and he was barred from leaving it.

Also confined to his home was Gen. Abdulaziz al-Huwairini, a colleague of Mohammed bin Nayef who was crucial to the security relationship with the United States, according to current and former United States officials.

Days later, C.I.A. officials briefed the White House on their concern that the ouster of Mohammed bin Nayef and the possible removal of General Huwairini and other security officers could hamper intelligence sharing, United States officials said.

The senior Saudi official’s statement said General Huwairini was still in his job and had pledged allegiance to Mohammed bin Salman along with senior officers.

Mohammed bin Nayef was replaced as interior minister by his 33-year-old nephew, Prince Abdulaziz bin Saud bin Nayef, who was an adviser to his uncle and who is believed to be close to Mohammed bin Salman.

The extent of support for the elevation of Mohammed bin Salman in the family remains unclear. Saudi state news media reported that 31 of the 34 members of the Allegiance Council supported the change, but analysts said many royals are hesitant to vote against the king’s wishes.

Some United States officials and well-connected Saudis say there are rumblings of discontent, and analysts have pointed out hints.

Neither King Salman nor his son attended the Group of 20 summit meeting in Hamburg, Germany, even though one of the two men had attended each of the last three meetings. Analysts say that family disputes may have kept the men at home or that they did not want to face criticism for the isolation they and three other Arab states imposed on Qatar.

The senior Saudi official said King Salman and his predecessor, King Abdullah, had skipped previous Group of 20 meetings.

Saudis shocked by the changes say they have a lot to lose if splits within the family spill into the open and destabilize the kingdom.

“It’s not like people are going to go out on the street and say, ‘We want M.B.N.,’ ” said one associate of the royal family, using Mohammed bin Nayef’s initials. “We want this family. We want to preserve them as best we can.”​

Source: New York Times
 
Is anyone seriously going to believe this version of events? I am surprised that the source did not detail MBN's toilet habits during that particular night.

NYT at it again. Obviously MBN was their most close ally within the House of Saud so no wonder that they take his party. MBN was a good official and I liked him and continue to like him but talking about a plot is ridiculous.

The Allegiance Council approved MBS as the Crown Prince as is the custom when appointing a Crown Prince (usually) or King.


Simply put this was in the cards for almost 2 years. MBS was already the de facto second in command after his appointment as MoD.

Nothing strange about this. In fact the appointment of a young, vibrant, highly talented and ambitious young person like MBS, along with other young officials (royal as well as non-royal) is what the country needed at this important crossroads, especially after MBS's initiation of the highly promising and ambitious "Saudi Vision 2030".

In fact most citizens (by far) were very much in favor of his appointment (75% of KSA's population is below 30 years of age) and the Saudi Arabian stock market experienced a surged of 5.5% immediately afterwards MBS's appointment.

Saudi stock market soars 5.5% after crown prince appointment, MSCI update

FRANK KANE | ARAB NEWS | Published — Wednesday 21 June 2017

935906-1771309621.jpg

(AFP)

DUBAI: The Saudi stock market index on Wednesday jumped by 5.5 percent to an 18-month high, following news that King Salman has placed his 31-year-old son next in line to the throne.

The Tadawul index, the largest in the Middle East, was also boosted by news that some benefits for civil servants were being restored, as well as an announcement that the Tadawul had been added to a watchlist for an upgrade to “emerging market” status.

The Tadawul All-Share Index (TASI) stood at 7,334.87 at its close on Wednesday, with 159 stock prices having risen and only 12 falling.

In a series of royal decrees issued Wednesday, it emerged that Prince Mohammed bin Salman had been appointed as the country’s crown prince, replacing Prince Mohammed bin Naif.

Crown Prince Mohammed bin Salman, who also serves as defense minister and oversees a vast economic portfolio, had previously been second in line to the throne.

It was also announced that all allowances, bonuses and financial benefits would be restored for civil servants and military personnel.

In another move that boosted the market, it emerged earlier on Wednesday that global stock benchmark provider MSCI had added the Tadawul to a watchlist for potential inclusion as an “emerging market.” That is something closely followed by fund managers and could mean a lot more foreign investment coming into the Kingdom.


The MSCI upgrade could take effect as early as next year, financiers said, in a boost to the forthcoming sale of shares in Saudi Aramco, the flagship oil company that could be valued at $2 trillion.

Emerging market status would be regarded as giving the green light to international investors to buy stocks on the Riyadh exchange. It would also be regarded as a nod of approval for the Kingdom’s ambitious plans to diversify its economy away from oil dependency, known as the Vision 2030 plan.


Financial analysts welcomed the potential upgrade to emerging market status, saying it would increase Saudi Arabia's attractiveness to foreign investors.

Deutsche Bank estimated that some $43 billion of foreign funds would flow into the Kingdom under the new status. “The key beneficiaries will be large capitalized companies that currently have a low level of foreign ownership,” the bank said.


Capital Economics, the London consultancy, also welcomed the MSCI move as positive for the country, but warned that full inclusion needs to come quickly to get the maximum economic benefit.

Analyst Jason Tuvey said: “If it is delayed to September 2019, Saudi Arabia will have to rely on other sources of financing to fund its current account shortfall, including fresh dollar bond sales and/or a further drawdown of its FX reserves.”

George Elhedery, chief executive officer of HSBC in the Middle East, told Bloomberg the upgrade to the Kingdom’s stock markets was a positive development for the county’s financial status. “It puts Saudi Arabia in good stead to achieve its Vision 2030. Passive inflows into Saudi equities could draw approximately $9 billion. This has the potential to rise even further if active funds increase their allocations,” he said.

Passive investors are those that include a country’s stocks in their overall portfolios. Active investors pick individual stocks for inclusion.

The MSCI move follows a long process of modernization of the Kingdom’s investment infrastructure, opening it up to international investors and accelerating the process of share dealing and settlement.

MSCI said: “Following the introduction of these major enhancements to the accessibility of the Saudi Arabian equity market, MSCI will be consulting with international institutional investors to gather informed feedback on their practical experience of accessing the Saudi equity markets and in particular on the effectiveness of the recently implemented enhancements.”

While many countries remain two to three years on the watch list prior to index inclusion, Saudi Arabia expects the process to happen sooner, according to Mohammed El-Kuwaiz, Saudi Arabia’s Capital Market Authority vice-chairman.

“Given the pace and the magnitude of capital-markets reforms that have been made in Saudi Arabia and the commitment that has indicated, the duration that we will be on the watch list will hopefully be shorter,” he said in a television interview.

Inclusion in MSCI’s developing-country indexes would “put Saudi Arabia in the top 10 emerging markets, even excluding Aramco,” according to Mohammed Al-Hajj, and equities analyst at investment bank EFG Hermes in Dubai.


He estimated that adding passive inflows alone would be equivalent to two-and-a-half to three current active holdings by foreigners in the Saudi market. “It would finally place Middle East, North Africa on the map as an important subset of emerging markets.”

Saudi Arabia allowed money managers outside the Gulf to own local shares directly only two years ago. Since then, authorities have relaxed the guidelines even more, yet total foreign ownership has stalled at about 5 percent.

As crude oil prices declined this year, the Tadawul index has dropped, lagging behind an average of its peers as measured by the MSCI Emerging Markets Index, which increased 17 percent through June 19.

The addition to the watch list should result in “substantially improved valuations, liquidity and foreign inflows to the country’s market,” according to Jaap Meijer and Michael Malkoun, analysts in Dubai at Arqaam Capital Ltd. They estimate Saudi Arabia would have a weighting of 2.2 percent in that emerging markets index, excluding Aramco.

The 173 stocks traded on the Tadawul have a value of SR1.65 trillion, according to the market’s website.

- With AP

http://www.arabnews.com/node/1118261/business-economy

The appointment of MBS sends a clear message to the enemies of the holy land.

Regardless of that, this is fantastic news and as predicted by me here and elsewhere (and many others) 2 year ago, the second he became Deputy Crown Prince, this next step was very logical.

Well wishes from the entire Arab and Islamic world and all relevant countries.


DC4Z03DXoAAbvoI.jpg


DC4Z05PXkAAcEIH.jpg


DC4Z6qfW0AE5D6b.jpg


DC4Z6qhXUAEC8hO.jpg


p_537o7l1g1.png







Editorial: A vote of confidence in the new Saudi generation

936341-485744354.jpg

Saudi Crown Prince Mohammed bin Salman. (SPA)

ARAB NEWS | Published — Monday 22 May 2017

The landmark appointment of Prince Mohammed bin Salman as crown prince represents a vote of confidence in the Kingdom’s younger generation, which makes up a large majority of the population. The new crown prince was supported by a landslide vote of 31 out of 34 members of the Royal Family’s Allegiance Council.
The decision came in the wake of King Salman making a number of changes over the past two years. He has appointed many young and highly qualified government officials as ministers, ambassadors, provincial governors and deputy governors.
The new direction has also caught on in the private sector, where we have seen a trend in young and qualified executives being hired. It is noteworthy that many of these executives are women, who have the same responsibilities as their male counterparts.
There are, as always, some international observers who will seek to deliberately misinterpret what has taken place at the top of the Kingdom’s power structure. The fact is, however, that former Crown Prince Mohammed bin Naif endorsed the decision in a letter to the king. He was also seen on video by viewers worldwide congratulating the new crown prince in person.
That Prince Mohammed bin Salman has made his impression on the world is evident from the number of congratulatory messages that have been sent in, including one by US President Donald Trump, who congratulated him and said he was looking forward to consolidating the Saudi-American partnership.
British Prime Minister Theresa May, in her congratulatory message, said she is looking forward to working with Prince Mohammed “to deepen our close bilateral ties in the years ahead, building on the constructive meetings we had in Saudi Arabia earlier this year.”
The Gulf states of Bahrain, the UAE, Kuwait, Oman and interestingly, even Qatar, have likewise endorsed the decision.
We can expect more rapid and drastic reforms if we take all of Prince Mohammed bin Salman’s accomplishments when he was deputy crown prince as an indicator of what is yet to come.

http://www.arabnews.com/node/1118671/editorial


Giving Bay'ah:







The new generation and duo that the nation and people expects a lot form:

%D8%A7%D9%84%D8%A7%D9%85%D9%8A%D8%B1-%D8%B9%D8%A8%D8%AF%D8%A7%D9%84%D8%B9%D8%B2%D9%8A%D8%B2-%D8%A8%D9%86-%D8%B3%D8%B9%D9%88%D8%AF-%D8%A8%D9%86-%D9%86%D8%A7%D9%8A%D9%81-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%AF%D8%A7%D8%AE%D9%84%D9%8A%D8%A9.jpg


Development vision meets Saudi youth’s ambitions, say economists
ac46e745-8854-4ad9-a966-31bd8c58287d_16x9_788x442.jpg

Saudi stock market received the news of the appointment of Crown Prince Mohammed bin Salman, with a surge which almost reached 5.5 percent.

Staff writer, Al Arabiya English
Sunday, 25 June 2017

A number of Saudi economists have confirmed their optimism in the pledge of the Mohammed bin Salman as Crown Prince, to an economic future that matches the aspirations of young people.

They say that this pledge is towards a modern state that is scientifically, industrially, economically and militarily strong and an important economic impetus for the region and the world, and towards everything new that meets the ambition and aspirations of future generations.

The economists in their statements in the ‘Riyadh’ newspaper considered that the implementation of Vision 2030 in the Kingdom, launched by Mohammed bin Salman, will support economic restructuring, privatization, investment promotion, diversification of economic resources, raising the contribution of marginalized sectors to the gross domestic product and moving ahead with the diversification of income sources.

Restoring allowances
Economists pointed to the decision to retroactively pay the allowances, stressing that it has a direct impact on the purchasing power of government employees who will receive the total allowances that were suspended from the first day until it was reinstated, which means greater capacity for consumer spending and a direct impact on the commercial sector.

For his part, Professor Ahmed Al-Sheikh, associate professor at the University of Jeddah and supervisor of the Tributaries House Expert for financial and legal consulting, said that those who would listen to the vision of Crown Prince Mohammed bin Salman understand that the Kingdom is capable of overcoming global crises and has financial and human resources that help to manage the economic equation in difficult times.

Dr. Abdul Salam bin Saeed Al Rashid, the Dean of the College of Administrative and Financial Sciences, at King Khalid University, said that the Saudi stock market received the news of the appointment of Crown Prince Mohammed bin Salman, with a very large surge which almost reached 5.5 percent, that does not occur except with very exceptional events. This is an indication to the great economic optimism about the appointment of Prince Mohammed bin Salman as Crown Prince.

Positive market reaction
Economist Mosaed Al- Saied stressed that the Saudi financial market has reacted positively to the appointment of Prince Mohammed bin Salman, and it was a very positive reflection of the investors' optimism for the economic future of the Kingdom in general and the financial market in particular.

Businessman Yasser bin Mohammed al-Harbi predicted that the retail and services market will witness a significant recovery after the decision to restore the financial allowances for public service salaries retroactively, which will provide cash to the banking and commercial sectors.

Financial expert Abdullah al-Rubdie said that, the pledge of allegiance to Prince Mohammed bin Salman has an important economic dimension, he is the guiding figure of the 2030 Saudi vision, which focuses on development and many economic aspects of Saudi Arabia over the next decade.

https://english.alarabiya.net/en/Ne...ikh-Muslims-count-on-Islamic-institutes-.html

Saudi Crown Prince to Al-Azhar Sheikh: Muslims count on their institutes
3111e1e2-521a-4f69-b914-2f56a6665f62_16x9_788x442.jpg

The Crown Prince stressed Al-Azhar’s important role in showing what real Islam. (File photo: Reuters)
Staff writer, Al Arabiya English Saturday, 24 June 2017

Saudi Crown Prince Mohammed bin Salman told Al-Azhar’s Sheikh Ahmed Al-Tayeb that Muslims count on Islamic institutes in the upcoming period to encounter terrorism.

Egypt’s Al-Azhar is Sunni Islam’s most revered institution.

The conversation took place when Sheikh Al-Tayeb called the Crown Prince to denounce Friday’s terrorist attempt to attack Mecca’s Grand Mosque area.

The Crown Prince stressed Al-Azhar’s important role in showing what real Islam is especially amid what the Muslim world is currently experiencing, hailing the sheikh’s efforts in encountering radical ideologies.

https://english.alarabiya.net/en/Ne...ikh-Muslims-count-on-Islamic-institutes-.html

I have high hopes for MBS and the current administration. Quite frankly even if a coup occurred, I would support it as a generation change within the House of Saud was needed. Obviously the people support MBS and like his policies as evident of events in the past 1.5 years. Anyway there is an entire administration surrounding the King.
 
Last edited:
Is anyone seriously going to believe this version of events? I am surprised that the source did not detail MBN's toilet habits during that particular night.

NYP at it again. Obviously MBN was their most close ally within the House of Saud so no wonder that they take his party.


Simply put this was in the cards for almost 2 years. MBS was already the de facto second in command after his appointment as MoD.

Nothing strange about this. In fact the appointment of a young, vibrant, highly talented and ambitious young person like MBS, along with other young officials (royal as well as non-royal) is what the country needed at this important crossroads, especially after MBS's initiation of the highly promising and ambitious "Saudi Vision 2030".

In fact most citizens (by far) were very much in favor of his appointment (75% of KSA's population is below 30 years of age) and the Saudi Arabian stock market experienced a surged of 5.5% immediately afterwards MBS's appointment.

Saudi stock market soars 5.5% after crown prince appointment, MSCI update

FRANK KANE | ARAB NEWS | Published — Wednesday 21 June 2017

935906-1771309621.jpg

(AFP)

DUBAI: The Saudi stock market index on Wednesday jumped by 5.5 percent to an 18-month high, following news that King Salman has placed his 31-year-old son next in line to the throne.

The Tadawul index, the largest in the Middle East, was also boosted by news that some benefits for civil servants were being restored, as well as an announcement that the Tadawul had been added to a watchlist for an upgrade to “emerging market” status.

The Tadawul All-Share Index (TASI) stood at 7,334.87 at its close on Wednesday, with 159 stock prices having risen and only 12 falling.

In a series of royal decrees issued Wednesday, it emerged that Prince Mohammed bin Salman had been appointed as the country’s crown prince, replacing Prince Mohammed bin Naif.

Crown Prince Mohammed bin Salman, who also serves as defense minister and oversees a vast economic portfolio, had previously been second in line to the throne.

It was also announced that all allowances, bonuses and financial benefits would be restored for civil servants and military personnel.

In another move that boosted the market, it emerged earlier on Wednesday that global stock benchmark provider MSCI had added the Tadawul to a watchlist for potential inclusion as an “emerging market.” That is something closely followed by fund managers and could mean a lot more foreign investment coming into the Kingdom.


The MSCI upgrade could take effect as early as next year, financiers said, in a boost to the forthcoming sale of shares in Saudi Aramco, the flagship oil company that could be valued at $2 trillion.

Emerging market status would be regarded as giving the green light to international investors to buy stocks on the Riyadh exchange. It would also be regarded as a nod of approval for the Kingdom’s ambitious plans to diversify its economy away from oil dependency, known as the Vision 2030 plan.


Financial analysts welcomed the potential upgrade to emerging market status, saying it would increase Saudi Arabia's attractiveness to foreign investors.

Deutsche Bank estimated that some $43 billion of foreign funds would flow into the Kingdom under the new status. “The key beneficiaries will be large capitalized companies that currently have a low level of foreign ownership,” the bank said.


Capital Economics, the London consultancy, also welcomed the MSCI move as positive for the country, but warned that full inclusion needs to come quickly to get the maximum economic benefit.

Analyst Jason Tuvey said: “If it is delayed to September 2019, Saudi Arabia will have to rely on other sources of financing to fund its current account shortfall, including fresh dollar bond sales and/or a further drawdown of its FX reserves.”

George Elhedery, chief executive officer of HSBC in the Middle East, told Bloomberg the upgrade to the Kingdom’s stock markets was a positive development for the county’s financial status. “It puts Saudi Arabia in good stead to achieve its Vision 2030. Passive inflows into Saudi equities could draw approximately $9 billion. This has the potential to rise even further if active funds increase their allocations,” he said.

Passive investors are those that include a country’s stocks in their overall portfolios. Active investors pick individual stocks for inclusion.

The MSCI move follows a long process of modernization of the Kingdom’s investment infrastructure, opening it up to international investors and accelerating the process of share dealing and settlement.

MSCI said: “Following the introduction of these major enhancements to the accessibility of the Saudi Arabian equity market, MSCI will be consulting with international institutional investors to gather informed feedback on their practical experience of accessing the Saudi equity markets and in particular on the effectiveness of the recently implemented enhancements.”

While many countries remain two to three years on the watch list prior to index inclusion, Saudi Arabia expects the process to happen sooner, according to Mohammed El-Kuwaiz, Saudi Arabia’s Capital Market Authority vice-chairman.

“Given the pace and the magnitude of capital-markets reforms that have been made in Saudi Arabia and the commitment that has indicated, the duration that we will be on the watch list will hopefully be shorter,” he said in a television interview.

Inclusion in MSCI’s developing-country indexes would “put Saudi Arabia in the top 10 emerging markets, even excluding Aramco,” according to Mohammed Al-Hajj, and equities analyst at investment bank EFG Hermes in Dubai.


He estimated that adding passive inflows alone would be equivalent to two-and-a-half to three current active holdings by foreigners in the Saudi market. “It would finally place Middle East, North Africa on the map as an important subset of emerging markets.”

Saudi Arabia allowed money managers outside the Gulf to own local shares directly only two years ago. Since then, authorities have relaxed the guidelines even more, yet total foreign ownership has stalled at about 5 percent.

As crude oil prices declined this year, the Tadawul index has dropped, lagging behind an average of its peers as measured by the MSCI Emerging Markets Index, which increased 17 percent through June 19.

The addition to the watch list should result in “substantially improved valuations, liquidity and foreign inflows to the country’s market,” according to Jaap Meijer and Michael Malkoun, analysts in Dubai at Arqaam Capital Ltd. They estimate Saudi Arabia would have a weighting of 2.2 percent in that emerging markets index, excluding Aramco.

The 173 stocks traded on the Tadawul have a value of SR1.65 trillion, according to the market’s website.

- With AP

http://www.arabnews.com/node/1118261/business-economy

The appointment of MBS sends a clear message to the enemies of the holy land.

Regardless of that, this is fantastic news and as predicted by me here and elsewhere (and many others) 2 year ago, the second he became Deputy Crown Prince, this next step was very logical.

Well wishes from the entire Arab and Islamic world and all relevant countries.


DC4Z03DXoAAbvoI.jpg


DC4Z05PXkAAcEIH.jpg


DC4Z6qfW0AE5D6b.jpg


DC4Z6qhXUAEC8hO.jpg


p_537o7l1g1.png







Editorial: A vote of confidence in the new Saudi generation

936341-485744354.jpg

Saudi Crown Prince Mohammed bin Salman. (SPA)

ARAB NEWS | Published — Monday 22 May 2017

The landmark appointment of Prince Mohammed bin Salman as crown prince represents a vote of confidence in the Kingdom’s younger generation, which makes up a large majority of the population. The new crown prince was supported by a landslide vote of 31 out of 34 members of the Royal Family’s Allegiance Council.
The decision came in the wake of King Salman making a number of changes over the past two years. He has appointed many young and highly qualified government officials as ministers, ambassadors, provincial governors and deputy governors.
The new direction has also caught on in the private sector, where we have seen a trend in young and qualified executives being hired. It is noteworthy that many of these executives are women, who have the same responsibilities as their male counterparts.
There are, as always, some international observers who will seek to deliberately misinterpret what has taken place at the top of the Kingdom’s power structure. The fact is, however, that former Crown Prince Mohammed bin Naif endorsed the decision in a letter to the king. He was also seen on video by viewers worldwide congratulating the new crown prince in person.
That Prince Mohammed bin Salman has made his impression on the world is evident from the number of congratulatory messages that have been sent in, including one by US President Donald Trump, who congratulated him and said he was looking forward to consolidating the Saudi-American partnership.
British Prime Minister Theresa May, in her congratulatory message, said she is looking forward to working with Prince Mohammed “to deepen our close bilateral ties in the years ahead, building on the constructive meetings we had in Saudi Arabia earlier this year.”
The Gulf states of Bahrain, the UAE, Kuwait, Oman and interestingly, even Qatar, have likewise endorsed the decision.
We can expect more rapid and drastic reforms if we take all of Prince Mohammed bin Salman’s accomplishments when he was deputy crown prince as an indicator of what is yet to come.

http://www.arabnews.com/node/1118671/editorial


Giving Bay'ah:







The new generation and duo that the nation and people expects a lot form:

%D8%A7%D9%84%D8%A7%D9%85%D9%8A%D8%B1-%D8%B9%D8%A8%D8%AF%D8%A7%D9%84%D8%B9%D8%B2%D9%8A%D8%B2-%D8%A8%D9%86-%D8%B3%D8%B9%D9%88%D8%AF-%D8%A8%D9%86-%D9%86%D8%A7%D9%8A%D9%81-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%AF%D8%A7%D8%AE%D9%84%D9%8A%D8%A9.jpg


Development vision meets Saudi youth’s ambitions, say economists
ac46e745-8854-4ad9-a966-31bd8c58287d_16x9_788x442.jpg

Saudi stock market received the news of the appointment of Crown Prince Mohammed bin Salman, with a surge which almost reached 5.5 percent.

Staff writer, Al Arabiya English
Sunday, 25 June 2017

A number of Saudi economists have confirmed their optimism in the pledge of the Mohammed bin Salman as Crown Prince, to an economic future that matches the aspirations of young people.

They say that this pledge is towards a modern state that is scientifically, industrially, economically and militarily strong and an important economic impetus for the region and the world, and towards everything new that meets the ambition and aspirations of future generations.

The economists in their statements in the ‘Riyadh’ newspaper considered that the implementation of Vision 2030 in the Kingdom, launched by Mohammed bin Salman, will support economic restructuring, privatization, investment promotion, diversification of economic resources, raising the contribution of marginalized sectors to the gross domestic product and moving ahead with the diversification of income sources.

Restoring allowances
Economists pointed to the decision to retroactively pay the allowances, stressing that it has a direct impact on the purchasing power of government employees who will receive the total allowances that were suspended from the first day until it was reinstated, which means greater capacity for consumer spending and a direct impact on the commercial sector.

For his part, Professor Ahmed Al-Sheikh, associate professor at the University of Jeddah and supervisor of the Tributaries House Expert for financial and legal consulting, said that those who would listen to the vision of Crown Prince Mohammed bin Salman understand that the Kingdom is capable of overcoming global crises and has financial and human resources that help to manage the economic equation in difficult times.

Dr. Abdul Salam bin Saeed Al Rashid, the Dean of the College of Administrative and Financial Sciences, at King Khalid University, said that the Saudi stock market received the news of the appointment of Crown Prince Mohammed bin Salman, with a very large surge which almost reached 5.5 percent, that does not occur except with very exceptional events. This is an indication to the great economic optimism about the appointment of Prince Mohammed bin Salman as Crown Prince.

Positive market reaction
Economist Mosaed Al- Saied stressed that the Saudi financial market has reacted positively to the appointment of Prince Mohammed bin Salman, and it was a very positive reflection of the investors' optimism for the economic future of the Kingdom in general and the financial market in particular.

Businessman Yasser bin Mohammed al-Harbi predicted that the retail and services market will witness a significant recovery after the decision to restore the financial allowances for public service salaries retroactively, which will provide cash to the banking and commercial sectors.

Financial expert Abdullah al-Rubdie said that, the pledge of allegiance to Prince Mohammed bin Salman has an important economic dimension, he is the guiding figure of the 2030 Saudi vision, which focuses on development and many economic aspects of Saudi Arabia over the next decade.

https://english.alarabiya.net/en/Ne...ikh-Muslims-count-on-Islamic-institutes-.html

Saudi Crown Prince to Al-Azhar Sheikh: Muslims count on their institutes
3111e1e2-521a-4f69-b914-2f56a6665f62_16x9_788x442.jpg

The Crown Prince stressed Al-Azhar’s important role in showing what real Islam. (File photo: Reuters)
Staff writer, Al Arabiya English Saturday, 24 June 2017

Saudi Crown Prince Mohammed bin Salman told Al-Azhar’s Sheikh Ahmed Al-Tayeb that Muslims count on Islamic institutes in the upcoming period to encounter terrorism.

Egypt’s Al-Azhar is Sunni Islam’s most revered institution.

The conversation took place when Sheikh Al-Tayeb called the Crown Prince to denounce Friday’s terrorist attempt to attack Mecca’s Grand Mosque area.

The Crown Prince stressed Al-Azhar’s important role in showing what real Islam is especially amid what the Muslim world is currently experiencing, hailing the sheikh’s efforts in encountering radical ideologies.

https://english.alarabiya.net/en/Ne...ikh-Muslims-count-on-Islamic-institutes-.html

I have high hopes for MBS and the current administration.

I don't think the story is necessarily negative if it is indeed what Mohammed bin Salman (MBS) did. Being King is an enormous responsibility and if MBN isn't 100% up to the task then its appropriate for someone to replace him. Still, deposing an unfit Crown Prince requires a lot of courage which MBS displayed so I view it as a positive development overall.
 
I don't think the story is necessarily negative if it is indeed what Mohammed bin Salman (MBS) did. Being King is an enormous responsibility and if MBN isn't 100% up to the task then its appropriate for someone to replace him. Still, deposing an unfit Crown Prince requires a lot of courage which MBS displayed so I view it as a positive development overall.

I agree. However I am always incredibly suspicious when unnamed sources describe completely closed off events (even to the highly trusted staff and officials) in such detail. It always leads to great suspicion from my part.

I don't think that "deposing" is the right word here unless I don't fully understand the word "deposing". English is not my mother tongue.

I think that a change of guard is the most precise description. Otherwise I agree with you.

I wish the Saudi prince success

Thanks.
 
I agree. However I am always incredibly suspicious when unnamed sources describe completely closed off events (even to the highly trusted staff and officials) in such detail. It always leads to great suspicion from my part.

I don't think that "deposing" is the right word here unless I don't fully understand the word "deposing". English is not my mother tongue.

I think that a change of guard is the most precise description. Otherwise I agree with you.


Agreed.

We should be more critical of the news coverage every day of the year.

ZhxiEUd.jpg
 
Agreed.

We should be more critical of the news coverage every day of the year.

ZhxiEUd.jpg

Yes, I don't envy him. It's a huge responsibility. Obviously it's not a one-man show (contrary to popular beliefs among certain uninformed circles to say it mildly) however like with any future head of state, the responsibility is especially great.

Anyway let's assume that everything goes completely wrong, KSA gets invaded by the US etc., at least the House of Saud dynasty (for those not in favor of them among the locals regardless of political views) will be removed.:lol:

I suggest turning KSA into a principality of city states based on clan and tribal affiliation. Like in the good and very ancient days before central power was cemented. 5000 BC for the win! Just kidding but I am curious to see what the future will have in store for KSA. I for once believe that there is reason to be positive.
 
Last edited:
Is anyone seriously going to believe this version of events? I am surprised that the source did not detail MBN's toilet habits during that particular night.

NYT at it again. Obviously MBN was their most close ally within the House of Saud so no wonder that they take his party. MBN was a good official and I liked him and continue to like him but talking about a plot is ridiculous.

The Allegiance Council approved MBS as the Crown Prince as is the custom when appointing a Crown Prince (usually) or King.


Simply put this was in the cards for almost 2 years. MBS was already the de facto second in command after his appointment as MoD.

Nothing strange about this. In fact the appointment of a young, vibrant, highly talented and ambitious young person like MBS, along with other young officials (royal as well as non-royal) is what the country needed at this important crossroads, especially after MBS's initiation of the highly promising and ambitious "Saudi Vision 2030".

In fact most citizens (by far) were very much in favor of his appointment (75% of KSA's population is below 30 years of age) and the Saudi Arabian stock market experienced a surged of 5.5% immediately afterwards MBS's appointment.

Saudi stock market soars 5.5% after crown prince appointment, MSCI update

FRANK KANE | ARAB NEWS | Published — Wednesday 21 June 2017

935906-1771309621.jpg

(AFP)

DUBAI: The Saudi stock market index on Wednesday jumped by 5.5 percent to an 18-month high, following news that King Salman has placed his 31-year-old son next in line to the throne.

The Tadawul index, the largest in the Middle East, was also boosted by news that some benefits for civil servants were being restored, as well as an announcement that the Tadawul had been added to a watchlist for an upgrade to “emerging market” status.

The Tadawul All-Share Index (TASI) stood at 7,334.87 at its close on Wednesday, with 159 stock prices having risen and only 12 falling.

In a series of royal decrees issued Wednesday, it emerged that Prince Mohammed bin Salman had been appointed as the country’s crown prince, replacing Prince Mohammed bin Naif.

Crown Prince Mohammed bin Salman, who also serves as defense minister and oversees a vast economic portfolio, had previously been second in line to the throne.

It was also announced that all allowances, bonuses and financial benefits would be restored for civil servants and military personnel.

In another move that boosted the market, it emerged earlier on Wednesday that global stock benchmark provider MSCI had added the Tadawul to a watchlist for potential inclusion as an “emerging market.” That is something closely followed by fund managers and could mean a lot more foreign investment coming into the Kingdom.


The MSCI upgrade could take effect as early as next year, financiers said, in a boost to the forthcoming sale of shares in Saudi Aramco, the flagship oil company that could be valued at $2 trillion.

Emerging market status would be regarded as giving the green light to international investors to buy stocks on the Riyadh exchange. It would also be regarded as a nod of approval for the Kingdom’s ambitious plans to diversify its economy away from oil dependency, known as the Vision 2030 plan.


Financial analysts welcomed the potential upgrade to emerging market status, saying it would increase Saudi Arabia's attractiveness to foreign investors.

Deutsche Bank estimated that some $43 billion of foreign funds would flow into the Kingdom under the new status. “The key beneficiaries will be large capitalized companies that currently have a low level of foreign ownership,” the bank said.


Capital Economics, the London consultancy, also welcomed the MSCI move as positive for the country, but warned that full inclusion needs to come quickly to get the maximum economic benefit.

Analyst Jason Tuvey said: “If it is delayed to September 2019, Saudi Arabia will have to rely on other sources of financing to fund its current account shortfall, including fresh dollar bond sales and/or a further drawdown of its FX reserves.”

George Elhedery, chief executive officer of HSBC in the Middle East, told Bloomberg the upgrade to the Kingdom’s stock markets was a positive development for the county’s financial status. “It puts Saudi Arabia in good stead to achieve its Vision 2030. Passive inflows into Saudi equities could draw approximately $9 billion. This has the potential to rise even further if active funds increase their allocations,” he said.

Passive investors are those that include a country’s stocks in their overall portfolios. Active investors pick individual stocks for inclusion.

The MSCI move follows a long process of modernization of the Kingdom’s investment infrastructure, opening it up to international investors and accelerating the process of share dealing and settlement.

MSCI said: “Following the introduction of these major enhancements to the accessibility of the Saudi Arabian equity market, MSCI will be consulting with international institutional investors to gather informed feedback on their practical experience of accessing the Saudi equity markets and in particular on the effectiveness of the recently implemented enhancements.”

While many countries remain two to three years on the watch list prior to index inclusion, Saudi Arabia expects the process to happen sooner, according to Mohammed El-Kuwaiz, Saudi Arabia’s Capital Market Authority vice-chairman.

“Given the pace and the magnitude of capital-markets reforms that have been made in Saudi Arabia and the commitment that has indicated, the duration that we will be on the watch list will hopefully be shorter,” he said in a television interview.

Inclusion in MSCI’s developing-country indexes would “put Saudi Arabia in the top 10 emerging markets, even excluding Aramco,” according to Mohammed Al-Hajj, and equities analyst at investment bank EFG Hermes in Dubai.


He estimated that adding passive inflows alone would be equivalent to two-and-a-half to three current active holdings by foreigners in the Saudi market. “It would finally place Middle East, North Africa on the map as an important subset of emerging markets.”

Saudi Arabia allowed money managers outside the Gulf to own local shares directly only two years ago. Since then, authorities have relaxed the guidelines even more, yet total foreign ownership has stalled at about 5 percent.

As crude oil prices declined this year, the Tadawul index has dropped, lagging behind an average of its peers as measured by the MSCI Emerging Markets Index, which increased 17 percent through June 19.

The addition to the watch list should result in “substantially improved valuations, liquidity and foreign inflows to the country’s market,” according to Jaap Meijer and Michael Malkoun, analysts in Dubai at Arqaam Capital Ltd. They estimate Saudi Arabia would have a weighting of 2.2 percent in that emerging markets index, excluding Aramco.

The 173 stocks traded on the Tadawul have a value of SR1.65 trillion, according to the market’s website.

- With AP

http://www.arabnews.com/node/1118261/business-economy

The appointment of MBS sends a clear message to the enemies of the holy land.

Regardless of that, this is fantastic news and as predicted by me here and elsewhere (and many others) 2 year ago, the second he became Deputy Crown Prince, this next step was very logical.

Well wishes from the entire Arab and Islamic world and all relevant countries.


DC4Z03DXoAAbvoI.jpg


DC4Z05PXkAAcEIH.jpg


DC4Z6qfW0AE5D6b.jpg


DC4Z6qhXUAEC8hO.jpg


p_537o7l1g1.png







Editorial: A vote of confidence in the new Saudi generation

936341-485744354.jpg

Saudi Crown Prince Mohammed bin Salman. (SPA)

ARAB NEWS | Published — Monday 22 May 2017

The landmark appointment of Prince Mohammed bin Salman as crown prince represents a vote of confidence in the Kingdom’s younger generation, which makes up a large majority of the population. The new crown prince was supported by a landslide vote of 31 out of 34 members of the Royal Family’s Allegiance Council.
The decision came in the wake of King Salman making a number of changes over the past two years. He has appointed many young and highly qualified government officials as ministers, ambassadors, provincial governors and deputy governors.
The new direction has also caught on in the private sector, where we have seen a trend in young and qualified executives being hired. It is noteworthy that many of these executives are women, who have the same responsibilities as their male counterparts.
There are, as always, some international observers who will seek to deliberately misinterpret what has taken place at the top of the Kingdom’s power structure. The fact is, however, that former Crown Prince Mohammed bin Naif endorsed the decision in a letter to the king. He was also seen on video by viewers worldwide congratulating the new crown prince in person.
That Prince Mohammed bin Salman has made his impression on the world is evident from the number of congratulatory messages that have been sent in, including one by US President Donald Trump, who congratulated him and said he was looking forward to consolidating the Saudi-American partnership.
British Prime Minister Theresa May, in her congratulatory message, said she is looking forward to working with Prince Mohammed “to deepen our close bilateral ties in the years ahead, building on the constructive meetings we had in Saudi Arabia earlier this year.”
The Gulf states of Bahrain, the UAE, Kuwait, Oman and interestingly, even Qatar, have likewise endorsed the decision.
We can expect more rapid and drastic reforms if we take all of Prince Mohammed bin Salman’s accomplishments when he was deputy crown prince as an indicator of what is yet to come.

http://www.arabnews.com/node/1118671/editorial


Giving Bay'ah:







The new generation and duo that the nation and people expects a lot form:

%D8%A7%D9%84%D8%A7%D9%85%D9%8A%D8%B1-%D8%B9%D8%A8%D8%AF%D8%A7%D9%84%D8%B9%D8%B2%D9%8A%D8%B2-%D8%A8%D9%86-%D8%B3%D8%B9%D9%88%D8%AF-%D8%A8%D9%86-%D9%86%D8%A7%D9%8A%D9%81-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%AF%D8%A7%D8%AE%D9%84%D9%8A%D8%A9.jpg


Development vision meets Saudi youth’s ambitions, say economists
ac46e745-8854-4ad9-a966-31bd8c58287d_16x9_788x442.jpg

Saudi stock market received the news of the appointment of Crown Prince Mohammed bin Salman, with a surge which almost reached 5.5 percent.

Staff writer, Al Arabiya English
Sunday, 25 June 2017

A number of Saudi economists have confirmed their optimism in the pledge of the Mohammed bin Salman as Crown Prince, to an economic future that matches the aspirations of young people.

They say that this pledge is towards a modern state that is scientifically, industrially, economically and militarily strong and an important economic impetus for the region and the world, and towards everything new that meets the ambition and aspirations of future generations.

The economists in their statements in the ‘Riyadh’ newspaper considered that the implementation of Vision 2030 in the Kingdom, launched by Mohammed bin Salman, will support economic restructuring, privatization, investment promotion, diversification of economic resources, raising the contribution of marginalized sectors to the gross domestic product and moving ahead with the diversification of income sources.

Restoring allowances
Economists pointed to the decision to retroactively pay the allowances, stressing that it has a direct impact on the purchasing power of government employees who will receive the total allowances that were suspended from the first day until it was reinstated, which means greater capacity for consumer spending and a direct impact on the commercial sector.

For his part, Professor Ahmed Al-Sheikh, associate professor at the University of Jeddah and supervisor of the Tributaries House Expert for financial and legal consulting, said that those who would listen to the vision of Crown Prince Mohammed bin Salman understand that the Kingdom is capable of overcoming global crises and has financial and human resources that help to manage the economic equation in difficult times.

Dr. Abdul Salam bin Saeed Al Rashid, the Dean of the College of Administrative and Financial Sciences, at King Khalid University, said that the Saudi stock market received the news of the appointment of Crown Prince Mohammed bin Salman, with a very large surge which almost reached 5.5 percent, that does not occur except with very exceptional events. This is an indication to the great economic optimism about the appointment of Prince Mohammed bin Salman as Crown Prince.

Positive market reaction
Economist Mosaed Al- Saied stressed that the Saudi financial market has reacted positively to the appointment of Prince Mohammed bin Salman, and it was a very positive reflection of the investors' optimism for the economic future of the Kingdom in general and the financial market in particular.

Businessman Yasser bin Mohammed al-Harbi predicted that the retail and services market will witness a significant recovery after the decision to restore the financial allowances for public service salaries retroactively, which will provide cash to the banking and commercial sectors.

Financial expert Abdullah al-Rubdie said that, the pledge of allegiance to Prince Mohammed bin Salman has an important economic dimension, he is the guiding figure of the 2030 Saudi vision, which focuses on development and many economic aspects of Saudi Arabia over the next decade.

https://english.alarabiya.net/en/Ne...ikh-Muslims-count-on-Islamic-institutes-.html

Saudi Crown Prince to Al-Azhar Sheikh: Muslims count on their institutes
3111e1e2-521a-4f69-b914-2f56a6665f62_16x9_788x442.jpg

The Crown Prince stressed Al-Azhar’s important role in showing what real Islam. (File photo: Reuters)
Staff writer, Al Arabiya English Saturday, 24 June 2017

Saudi Crown Prince Mohammed bin Salman told Al-Azhar’s Sheikh Ahmed Al-Tayeb that Muslims count on Islamic institutes in the upcoming period to encounter terrorism.

Egypt’s Al-Azhar is Sunni Islam’s most revered institution.

The conversation took place when Sheikh Al-Tayeb called the Crown Prince to denounce Friday’s terrorist attempt to attack Mecca’s Grand Mosque area.

The Crown Prince stressed Al-Azhar’s important role in showing what real Islam is especially amid what the Muslim world is currently experiencing, hailing the sheikh’s efforts in encountering radical ideologies.

https://english.alarabiya.net/en/Ne...ikh-Muslims-count-on-Islamic-institutes-.html

I have high hopes for MBS and the current administration. Quite frankly even if a coup occurred, I would support it as a generation change within the House of Saud was needed. Obviously the people support MBS and like his policies as evident of events in the past 1.5 years. Anyway there is an entire administration surrounding the King.
Ma ShaAllah the guy is handsome
I cant help but admire his pleasant features
hope he looks after his health
 
Pakistani Shia are staunch haters of Saudi, they would believe it and will propagate it as well.

I would want to believe, that not all Pakistani Shias are like that and that moreover this supposed hatred is aimed at the people in power and not the entire nation and people. I refuse to believe that Muslims, especially Shias, have hatred for what is modern-day KSA (Arabia and Arabian Peninsula) which is the cradle of Islam and where the by far vast majority of their (Shia but not only - Muslim in general) revered personalities (on almost every front) were from either by birth or ancestry.

Similarly, I hope at least, that those hateful Pakistani Shias, will understand that KSA is home to all Islamic sects ingeniously as the only country in the world (Sunni - Shafi'i, Maliki, Hanafi, Hanbali, Sufi, Salafi), Shia (Twelver, Zaydi, Ismaili). The so-called imaginary "Wahhabis" (Hanbalis) make up around 25% of the population only.

If they are still hateful creatures, then let them die in their rage for all I care. Not that they are relevant.

Ma ShaAllah the guy is handsome
I cant help but admire his pleasant features
hope he looks after his health

Not sure if serious or just trolling.

Well, I am a man so the look of other men is not of any importance for me, but I do like his beard and I do believe that he has a "warm/welcoming" face.

However for all I care he could be Quasimodo. What matters is what he will accomplish and so far his administration has done well and encouraging/kickstarted necessary changes on all fronts and much more is to follow. Or that he is a young (like 75% of the population of KSA which is below 30 years of age) along with many other figures in the new administration. This makes young people hopeful as he can relate to the young generation much more than people 3 times that age (80-90) which is normal in all countries but probably even more (the gap) widespread in mostly conservative countries which most Muslim countries tend to be compared to your average Western country which I personally find nothing wrong with despite the demonization but people from within or abroad.
 
Last edited:
young, naive and over ambitious young man..
when he will be able to snatch SANG from mutaib than his "claim" will start getting serious, until than I'll enjoy the show..
 
i am not shia but why shia is bad guy dont get me wrong iran is self interest snob but saudis are not the humble servants of islam/muslims. Follow thier roots and time line going back to british empire, they have done everything in favour of islam enemies. Did they not join hands with israel to plot against iran, what about gaddafi libya, syria , yemen, asking cheap pakistanis to go fight thier cheap lives in yemen which pak ppl said fcuk no. you know why becuase the ppl wll burn the country to the ground and pak army knows thier a ss will be fried by the pak ppl.
iran does not have rothschild central bank, but saudis do.
 
I would want to believe, that not all Pakistani Shias are like that

I have searched for a reasonable Shia all my life, i have no success thus far.
I hope i can find one non-fanatic Shia before i die.
I have worked in Saudi and have worked with Saudi Shias as well, trust me i failed to find one loyal to Saudi Arabia.
 
I have searched for a reasonable Shia all my life, i have no success thus far.
I hope i can find one non-fanatic Shia before i die.
I have worked in Saudi and have worked with Saudi Shias as well, trust me i failed to find one loyal to Saudi Arabia.

Well, your last sentence is kind of strange to me, as my father used to work for ARAMCO early in his career and many locals working for that company are local Shias. He never had a single bad word to say about them. To this very day. In fact Saudi Arabian Shias from the Eastern Province and Najran are generally very patriotic people.

The only city in the Eastern Province that is a notorious hub for instability and crime is Al-Awamiyyah but I believe that this has little to do with sect but rather other factors. Evident of nearby Shia communities not causing trouble.

In any case I don't put much emphasis on what Pakistani Shias have to say about anything related to KSA or the Arab world. Let them have their own views, none of my business.
 
Well, your last sentence is kind of strange to me, as my father used to work for ARAMCO early in his career and many locals working for that company are local Shias.

I lived 3 years in al-Khobar, maybe you were not even born than.
I have worked in Aramco as a contractor on various occasions. Took part in startup of 2 gas plants in Haradh area.
I know very well, that there were engineers and technicians, who were Shia, especially in Rastanura refinery. Non of them said anything anti state to me, that could be because of nature of relationship. However they were all lazy and lacked ownership of the company, wherein they work, this was also setting up an environment, leading waste for company and creating wrong image of Saudi Arabia, in general.
However, i had Saudi Shias in my company as well, and they always were annoyed and in disagreement with govt.... one of them even had a claim that one of his elder brother is missing from long time, i used to have soft corner for them. Unless one day, i was with one senior person having a dinner at a restaurant on Cornish, together with European visitor, and suddenly he start complaining about govt. and the lack of freedom... He wanted share in the rule, now this guy was having lucrative job, just because of Saudization policy of govt. otherwise, i could do his job and that of another one of his Shia Saudi colleague at half the salary.
Just few weeks back, i had one Saudi Shia visitor from eastern province visiting for training, and when i asked him about the murder of child in terrorism bid in Qatif, he said Saudi media is creating false picture of us. Whenever i start discussion with them, i only find them complaining wrongly.
 

Users Who Are Viewing This Thread (Total: 2, Members: 0, Guests: 2)


Back
Top Bottom