Saudi Arabia's king promised a multibillion dollar package of reforms, raises, cash, loans and apartments on Friday in what appeared to be the Arab world's most expensive attempt to appease residents inspired by the unrest that has swept two leaders from power.

He also announced 60,000 new jobs in the security forces — a move that would employ huge numbers of otherwise jobless young men, while bolstering his kingdom's ability to snuff out protests.

The ailing 86-year-old King Abdullah, his soft voice trembling, rarely looked up from his notes in the speech broadcast live on Saudi television....

The sweeteners include an additional two months' wages for all government workers, and two extra pension payments for university students. He raised the monthly minimum wage to $800 and a monthly pension of around $260 to the country's unemployed. The king set aside around $70 billion to build 500,000 low-income apartments. He promised millions more capital for the government's housing loan fund and raising the maximum loan for homes to around $130,000....