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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...

In a moment that continues his stance against the head of the Federal Reserve, US President Donald Trump has called on Fed Chair Jerome Powell to lower interest rates. Indeed, the commander in chief took to his Truth Social platform to levy a slew of criticisms and concerns toward the bank head while calling him a “major loser.” Powell has emerged as the object of Trump’s disdain over the last week. His disapproval of the Federal Reserve’s actions so far has led the president to seek out whether he has the ability to fire the chairman. Specifically, he recently added that his termination “couldn’t come fast enough.” JUST IN: President Trump says Fed Chair Jerome Powell is a "major loser." pic.twitter.com/mp7M3n08kh — Watcher.Guru (@WatcherGuru) April 21, 2025 Also Read: Jerome Powell Just Warned of Market Crash: Too Soon to Cut Rates Trump Calls Out Fed Chair Powell Amid Bid to Get Interest Rates Cut The United States economy has found itself i...

Inspired by the BRICS de-dollarization agenda, Zimbabwe launched a new gold-backed currency, the ZIG, early this year to take on the US dollar. The gold-backed currency was launched in April 2024 to reduce the circulation of the US dollar in the country. Surprisingly, ZIG is gaining steam across Zimbabwe and 40% of payments are being initiated in the new currency by citizens. Also Read: More Than 50 Countries Could Accept BRICS Payment System While 40% of payments are being settled by citizens, the government settles 80% of transactions in the gold-backed ZIG. This comes from the playbook of BRICS where the alliance aims to make the US dollar a secondary currency. The bloc convinces developing nations to use local currencies to strengthen their economies. Also Read: 47 Countries Ready To Join the BRICS Alliance BRICS: Gold-Backed ZIG Currency Grows in Zimbabwe, Only 60% Transactions Settled in US Dollar Source: news.bitcoin.com ZIG has eaten up 40% of all transactions leaving the US do...

Amid a large economic downturn recently, there are wide concerns about an incoming recession in the United States. With that, the US dollar and overall economy take a huge tumble, heavily harming investors’ wallets. However, with its recent growth and developments as a major talking point, some analysts believe that Bitcoin , the leading cryptocurrency, could be a “safe haven” amid the recession concerns. Indeed, Bitcoin is growing more and more popular each day in the US, even becoming a talking point in government and in the presidential election. The US Department of Justice currently holds billions of dollars worth of seized bitcoin. With this stash, there have been proposals to transfer Bitcoin to the Department of the Treasury to transform BTC into a reserve currency for the country, which has brought mixed reactions. While it may be a long and complex process, the idea isn’t impossible and would set Bitcoin up to be a major game-changer for the safety of t...

Touching a new zenith of success, the United States of America has added a fresh badge of honor by becoming one of the top producers of crude oil globally.  Joining the league alongside giants like Russia and Saudi Arabia, the US is pioneering the crude oil arena via a new extraction technique called fracking.  Also Read: Ripple vs SEC Lawsuit: A Settlement on the Cards? The US is embracing the crude oil industry.  Source: Pexels Per a recent report shared by Oil Price, the US has been leading the oil production arena since 2018.  It all started in 2010 when an increased demand for domestic oil compelled the nation to explore “hydraulic fracking.” In simpler terms, fracking, or hydraulic fracking, is a technique deployed by engineers to extract crude oil from the earth’s surface. The technique entails cracking the surface of the earth open by injecting water, chemicals, and sand at high pressure.  Also Read: Ripple vs SEC Law...