A coalition cabinet formed by Likud party chief Benjamin Netanyahu won the approval of Israeli parliament Tuesday by a vote of 69 in favor and 45 against.

Netanyahu assumed office of the Prime Minister at a marathon session that ended at night.

Addressing the Knesset ahead of a vote on the formation of the new coalition cabinet, Netanyahu assured that under his leadership, Israel would continue to work toward a comprehensive peace with the Arab and Muslim world.

He also named 30 new ministers and deputy ministers of his cabinet, the largest in Israeli history.

Outlining the goals of his incoming cabinet, Netanyahu said radical regimes are threat to Israel, and the world as a whole.

The hawkish rightist leader appealed to the Knesset to rally behind his government during the country's unprecedented time of crisis.

Outgoing Prime Minister Ehud Olmert delivered his final speech in the parliament just before Netanyahu's address, urging the new administration make the peace process a central focus of the coming term.

Olmert's tenure as prime minister was heavily criticized throughout, with two wars and a dozen investigations into his alleged corruption.

He defended his government's decision to carry out the 2006 war in Lebanon and the recent operation in the Gaza Strip.

Tzipi Livni, destined to sit in the opposition, despite being the leader of the largest party in the parliament, alleged that the Netanyahu government comprised of ministers in charge of nothing.

Netanyahu was forced to allot main portfolios of his cabinet to leaders of coalition partners.

Avigdor Lieberman, leader of the ultra-nationalist Israel Beiteinu party, was named the foreign minister, while Labor Party chief Ehud Barak was given charge of defense.

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