In a recent announcement, the President of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nahyan, has appointed his son, Sheikh Khaled, as the crown prince of Abu Dhabi, the capital of the Gulf Arab state.
Alongside this appointment, Sheikh Mohammed also named his other brothers, Sheikh Mansour bin Zayed Al Nahyan, Sheikh Tahnoun bin Zayed Al Nahyan, and Hazza bin Zayed Al Nahyan, as Vice President of the UAE, deputy rulers of Abu Dhabi, and national security adviser, respectively.
Sheikh Mohammed, also known as MBZ, has been the ruler of Abu Dhabi and president of the UAE since May 2021, following the death of his half-brother Sheikh Khalifa bin Zayed.
MBZ has held significant power behind the scenes for years and played a key role in creating an anti-Iran axis with Israel, leading a realignment of the Middle East.
Abu Dhabi is one of the wealthiest state investors in the world, controlling several sovereign wealth funds. It is also a major player in the region, known for its position as an OPEC oil producer.
Earlier this month, the emirate announced a reshuffle at the top of its two biggest state funds, with Sheikh Tahnoun being named chair of the Abu Dhabi Investment Authority (ADIA), and Sheikh Mansour taking over as chairman of Mubadala, Abu Dhabi’s second-biggest sovereign wealth fund.
With agency inputs.
(Edited by : Ayushi Agarwal)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Delhi CM Kejriwal meets AAP MLAs for first time after being released on bail
May 12, 2024 10:01 AM
Telangana Lok Sabha elections 2024: Asaduddin Owaisi to Bandi Sanjay Kumar, a look at key candidates
May 11, 2024 3:32 PM
Lok Sabha elections 2024: Hyderabad to Kadapa, key seats in fourth phase
May 11, 2024 2:54 PM
Telangana Lok Sabha elections 2024: List of BRS candidates
May 11, 2024 1:55 PM