King Salman is expected to broadly continue Abdullah’s policies, analysts say.
The stock market rose in the minutes after the announcement, trading 0.9 per cent higher.
Markets fell globally after a raft of weak indicators from Europe and China collided with concerns about the U.S. Federal Reserve’s plans to reduce monetary stimulus.
The Capital Market Authority isaid last month that it would open the market in the first half of next year.
Forty-four per cent of UAE employers are definitely hiring in the coming three months.
South American nation Venezuela tops the list, followed closely by Saudi Arabia.
Although no new cases of the virus have been detected so far, Saudi officials and the WHO are monitoring the situation.