Saudi Arabia Creates New Ministry, Shrinking Falih Portfolio - Bloomberg:
Saudi Arabia created a new ministry for industry and mineral resources that’s separate from the current energy ministry, reducing the remit of Energy Minister Khalid Al-Falih.
The shift was part of a series of royal orders by King Salman, issued just before the Islamic new year and reported Friday night by the official Saudi Press Agency. The existing Ministry of Energy, Industry and Mineral Resources, led by Al-Falih, will be renamed the Ministry of Energy and hand over its other files to the new ministry at the start of the next fiscal year, the agency said. He appointed Bandar Alkhorayef to head the new ministry.
The king also replaced the head of the royal court, who had served under the late King Abdullah, with a new appointee who’s viewed to be closer to Crown Prince Mohammed bin Salman.
Khalid Al-FalihPhotographer: Mohammed Al-Nemer/Bloomberg
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