Money and Investment Conference in Jordan Discusses Status of Digital Currencies

A trader looks at electronic displays at the Amman Stock Exchange. (Reuters)
A trader looks at electronic displays at the Amman Stock Exchange. (Reuters)
TT
20

Money and Investment Conference in Jordan Discusses Status of Digital Currencies

A trader looks at electronic displays at the Amman Stock Exchange. (Reuters)
A trader looks at electronic displays at the Amman Stock Exchange. (Reuters)

The 12th Money and Investment Conference got underway on Tuesday in Amman with the participation of Arab and foreign experts and international companies.

The conference, titled “Digital coins [bitcoins] and their influence on the economy”, discussed the modern era of digital currencies, such as the “bitcoins”.

The two-day conference will address the future of banknotes in light of the spread of digital money, as well as the advantages of investment in stocks and oil in the Arab region and the impact of currency fluctuations on Arab economies.

It will also tackle systems and technology used in currency trading and the laws and regulations that organize it.

Amman Stock Exchange Chairman of the Board of Directors Jawad Anani said in the opening speech that bitcoins first emerged in 2009 and are protected through an e-security system that is structured in a “special language that makes it very difficult to penetrate.”

“There is no monetary authority that supervises digital currencies on the international level, and in case they were accepted globally, the functions of other currencies must be acquired as a means of payment and a tool for storage and settlement, which will raise the price of gold, silver and platinum in the world,” he explained.

Anani also stressed that the electronic revolution witnessed by the global economy will rearrange the roles of many international organizations, such as the International Monetary Fund, the Bank for International Settlements and the World Trade Organization.

“Bitcoins are divided into two kinds: electronic ones that enjoy high levels of protection due to their encryption, and coins whose values are estimated at $42 million globally,” Anani said.

International economic expert Amr Abdo said that the digital currency revolution is inseparable from the global economic crisis, which revealed that the world economy does not serve the middle class.

He pointed out that the market value of digital currencies today is around 93 billion dollars on the global level.

Fadi Khalaf, secretary general of the Arab Stock Exchange, said that the opportunities are attractive for investment in stocks.

He attributed the reason for the Arab investments in global stock markets to the lack of liquidity, which should be addressed through short selling and the construction of hedging tools that reduce risk rates.



EU to Keep US Trade Countermeasures on Hold Until August

European Commission President Ursula von der Leyen speaks during a joint press conference with Indonesian President Prabowo Subianto (not pictured) at the European Commission in Brussels, Belgium, 13 July 2025. EPA/OLIVIER MATTHYS
European Commission President Ursula von der Leyen speaks during a joint press conference with Indonesian President Prabowo Subianto (not pictured) at the European Commission in Brussels, Belgium, 13 July 2025. EPA/OLIVIER MATTHYS
TT
20

EU to Keep US Trade Countermeasures on Hold Until August

European Commission President Ursula von der Leyen speaks during a joint press conference with Indonesian President Prabowo Subianto (not pictured) at the European Commission in Brussels, Belgium, 13 July 2025. EPA/OLIVIER MATTHYS
European Commission President Ursula von der Leyen speaks during a joint press conference with Indonesian President Prabowo Subianto (not pictured) at the European Commission in Brussels, Belgium, 13 July 2025. EPA/OLIVIER MATTHYS

The EU will extend its suspension of countermeasures to US tariffs until early August as it aims for a negotiated solution on trade with the United States, European Commission President Ursula von der Leyen said on Sunday.

US President Donald Trump escalated his global trade war on Saturday and threatened to impose a 30% tariff on imports from the European Union from Aug. 1, separate from sector-specific duties, despite months of intense talks.

Announcing the extension of the halt on retaliatory measures, von der Leyen told reporters the bloc would "continue to prepare further countermeasures so we are fully prepared."

A first package of countermeasures to US tariffs on steel and aluminium that would hit 21 billion euros ($24.6 billion) in US goods was suspended in April for 90 days to allow time for negotiations.

The suspension had been due to expire on Monday.

A second package has been in the works since May and would target 72 billion euros of US goods, but these measures have not yet been made public and the final list requires approval by member states.

Von der Leyen added that use of the EU's Anti-Coercion Instrument was not yet on the table.

"The (anti-coercion) instrument is created for extraordinary situations, we are not there yet," Reuters quoted her as saying.

The instrument allows the bloc to retaliate against third countries that put economic pressure on EU members to change their policies.

Possible retaliatory steps could include restricting EU market access to goods and services, and other economic measures related to areas including foreign direct investment, financial markets and export controls.