Saudi Arabia gets new economy minister

RIYADH: Saudi Arabia’s King Salman has transferred the economy minister in the latest cabinet reshuffle, official media reported citing a royal decree, as the kingdom grapples with plunging oil prices.

Saudi Press Agency said the king has tasked Finance Minister Mohammed Al Jadaan with overseeing the ministry.

Al Tuwaijri was appointed as adviser to the royal court with the rank of minister, the agency said.

This comes 10 days after Saudi Arabia announced the creation of three new ministries, for tourism, sports and investment.

A cabinet reshuffle last month also saw the return of former energy minister Khalid Al Falih to the main political arena as investment minister.

Al Falih was replaced by Prince Abdulaziz bin Salman — the first member of the royal family ever to take charge of the kingdom’s all-important ministry.

The latest reshuffles come as Saudi Arabia is reeling from low energy prices and seeks to boost investment and jobs in the key non-oil sectors of tourism, sports and entertainment.