Saudi Arabia's King Replaces Nephew With Son As Heir To Throne

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Saudi Arabia embassies overseas, governors and heads of centers also received citizens who were keen to attend and pledge loyalty.

His youth is a novelty for a country that is used to ageing leaders - Mohammed's father is 81.His rapid ascent over the past two years has symbolised the hopes of the kingdom's young population, more than half of which is under 25. Iran's state TV has called the appointment a "soft coup in Saudi Arabia".

President Recep Tayyip Erdogan congratulated new Saudi Arabia's Crown Prince Mohamed bin Salman early Thursday, as the two men expressed a desire for stronger ties between their nations, presidential sources said.

"We look forward to continuing our work with Crown Prince Mohammed bin Salman in his new role to defeat terrorism and improve our mutual security, stability, and prosperity", State Department spokeswoman Heather Nauert said in a statement Wednesday.

The decision by King Salman to promote his son and consolidate his power was endorsed by 31 out of 34 members of the Allegiance Council, made up of senior members of the ruling Al Saud family, the royal decree said. The previous crown prince and the current crown prince are first cousins, both grandsons of the founder of the House of Saud.

Most of the Saudi Royal Family, of course, officially supports the king's policies at any given time, so it's not always clear where the king's policies end and others in the family begin.

Another young prince also ascended to power Wednesday.

Federal Reserve Moves Interest Rates Higher
The Dow Jones industrial average was up 22 points, or 0.1 percent, to 21,352, little changed from before the announcement. The yield on the 10-year Treasury note was 2.12 percent, the same as shortly before the statement came out.

"We won't wait for the battle to be in Saudi Arabia". He previously served as an adviser to the interior and defense ministries. The 31-year-old is now next in line to the throne. Saudi Arabia is a key driver of an OPEC deal with non OPEC producers, like Russian Federation, to curb production in an effort to end a supply glut and drive prices higher. The outgoing crown prince is heard telling him: "I will rest now, and God help you".

Mohammed bin Salman chipped away at his authority but Mohammed bin Nayef's popularity with the previous USA administration of Barack Obama had prevented his ouster, said Stephane Lacroix, associate professor at Sciences Po university in Paris. He worked closely with Washington after the September 11 attacks, helping to share intelligence to thwart more attacks.

The US president also spent time with the prince during his visit to Riyadh, said another administration official.

Saudi king appoints son as crown prince.

President Trump, who hosted bin Salman at the White House in March, offered his congratulations in a phone conversation Wednesday.

Trump and the crown prince additionally "discussed efforts to achieve a lasting peace between the Israelis and the Palestinians and ways to further deepen economic cooperation between the United States and Saudi Arabia".

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