RIYADH: Saudi Arabia created a new ministry for industry and mineral resources, separating it from the kingdom's colossal energy ministry, and replaced the powerful head of the royal court, in a series of royal orders issued late on Friday .
Two sources said Saudi industrialists were unhappy with a lack of results during Falih's tenure. The separation followed meetings between those businessmen and Crown Prince Mohammed bin Salman, the country's de facto ruler, one source added. Saudi economist Fawaz al-Fawaz said the split was a step in the right direction but still not enough."There are scattered efforts in local content and military manufacturing and a constant lack of investment. We need more thought," he said on Twitter.In a separate royal order, Fahd bin Mohammed al-Essa was appointed head of the royal court, a powerful gatekeeper position in the absolute monarchy.
Riyadh launched a sweeping anti-corruption campaign two years ago which netted princes, senior officials and top businessmen. Critics said the campaign amounted to a power play and shakedown of political rivals.