China News by Thebittimes.Com

The first thing that comes to your mind when someone mentions Saudi Arabia is oil. The Kingdom built massive wealth on the back of oil but is now diversifying its economy. The Prime Minister of the Kingdom, Mohammed bin Salman Al Saud (MBS), realized that revenue from oil can no longer run the country. Therefore, began investments in various sectors and plans to make the Vision 2030 a reality. Also Read: China Buys 2 Cargoes of US Soybeans in a First This Season Half of Saudi Arabia’s Economy Moves Beyond the Oil Sector, Embraces Technology and Tourism Source: CNBC Saudi Arabia’s Minister for Investment Khalid Al Falih said during the Future Investment Initiative (FII) in Riyadh that the Kingdom “completely decoupled” from oil and does not fully rely on it to run the economy. The other 50% “have nothing to do with oil,” he said. “This percentage is growing,” Al Falih told CNBC’s Dan Murphy at the conference. The Minister revealed that Saudi Arabia wants to further diversify thei...

Russia has long been trying to break the traditional market chains by leading the global financial regimes at its own pace. However, with the US sanctioning Russia and removing it from the SWIFT system, the country has since then found lucrative methods to stabilize its economy, including utilizing diversification of assets to strengthen its reserves. Here’s how much gold Russia holds at present that has led the nation to earn the label of a country hoarding the maximum amount of precious metal in its reserve. Also Read: 2 Things To Expect From Donald Trump’s Digital Asset Rendezvous On March 20 How Much Gold Does Russia Have? Source: Watcher Guru Russia is one of the leading gold holders in the world, with its reserves valued at $217.4 billion as of March 1st, 2025. The nation has diversified away from the dollar into gold, which now comprises 34.4% of the nation’s total foreign reserve. “Russia has expanded its gold reserves to a record high, reaching $217.4 billion as of ...