Yemen's president has sacked the country's vice president and transferred his powers to a newly created Presidential Leadership Council. Elected as the sole candidate in 2012, now former president Abd-Rabbu Mansour Hadi said the move will help facilitate peace in the war-torn country. Yemen's warring parties are in the first week of a two-month UN-brokered ceasefire. Following the announcement by Hadi, Saudi Arabia announced $3 billion in financial aid to the Saudi-backed government. The UN has called Yemen's seven-year war the world's worst humanitarian crisis.