News
Saudi Arabia’s Crown Prince Mohammed Bin Salman Named As Prime Minister

KSA: Saudi Arabia’s Crown Prince Mohammed bin Salman has been named the kingdom’s prime minister in a cabinet reshuffle ordered by King Salman, according to a royal decree published by the official Saudi Press Agency on Tuesday.
Prince Mohammed is already de facto ruler of the world’s largest oil exporter, and the appointment formalises his role as leader of the kingdom’s government.
The crown prince, popularly known by his initials MBS, previously served as deputy prime minister as well as defence minister. He is being replaced as defence minister by his younger brother, Khalid bin Salman, who was deputy defence minister.
The royal decree reaffirmed all the other senior ministers in their posts, including Foreign Minister Prince Faisal bin Farhan Al Saud, Finance Minister Mohammed al-Jadaan and Investment Minister Khalid al-Falih.
By appointing MBS as prime minister, a role previously – and typically – held by the king, the 86-year-old monarch continues a slow but steady transfer of power in the kingdom.
The royal decree on Tuesday did not state the reasons behind the appointment, but the state-run news agency SPA said that the king – who remains head of state – will continue to chair cabinet meetings he attends.
-
Banking & Finance1 month ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
OER Magazines2 months ago
OER, May 2025
-
Bahrain1 month ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
Banking & Finance2 months ago
Central Bank of Oman Issues Regulatory Framework for Digital Banks
-
Banking & Finance3 weeks ago
National Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
Insurance2 months ago
Liva Insurance Sets New Benchmark with ‘Innovative Insurer of the Year’ Award at the New Age Banking Summit 2025
-
Energy4 weeks ago
Russian Energy Week from October 15-17, 2025 offers alternative formats of cooperation
-
Banking & Finance1 month ago
The Future of the International Financial System to be discussed at SPIEF 2025