Money and Investment Conference in Jordan Discusses Status of Digital Currencieshttps://english.aawsat.com/home/article/1056261/money-and-investment-conference-jordan-discusses-status-digital-currencies
Money and Investment Conference in Jordan Discusses Status of Digital Currencies
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.
Iran War Is a ‘Wake-up Call’ for Southeast Asia’s Energy Sector, Report Sayshttps://english.aawsat.com/business/5284684-iran-war-%E2%80%98wake-call%E2%80%99-southeast-asia%E2%80%99s-energy-sector-report-says
A pair of solar installers haul a solar panel onto the roof of a home in Manila, Philippines, on April 30, 2026. (AP)
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Iran War Is a ‘Wake-up Call’ for Southeast Asia’s Energy Sector, Report Says
A pair of solar installers haul a solar panel onto the roof of a home in Manila, Philippines, on April 30, 2026. (AP)
The war in Iran has exposed major risks for Southeast Asia that could cost the region many billions of dollars if it does not diversify sources of energy more quickly, according to an International Energy Agency report released Tuesday.
An over-reliance on oil and gas transported through the Strait of Hormuz left the region particularly vulnerable to shocks from the Iran war, a "stark wake-up call" for its energy security, the report says.
It notes that rising sales of electric vehicles, a renewed interest in nuclear power and a boom in rooftop solar and other renewable energy installations show the war is spurring change.
But more sweeping reforms are needed. Otherwise, Southeast Asia’s energy import bill could rise to $245 billion by 2035, tripling from $80 billion in 2024, the report warns.
“Diversification of energy sources and supply routes is now a central priority," said Fatih Birol, the IEA executive director.
The energy shock sent Southeast Asia into a state of energy triage, leading to higher energy bills and rising inflation.
In a likely setback for efforts to phase out dependence on fossil fuels, the conflict has reinforced the need to rely on coal during times of energy crisis, the IEA said.
The war is also furthering plans for nuclear power in Southeast Asia, but years-long construction and regulatory processes remain. Indonesia, Vietnam and the Philippines may be the furthest along with nuclear power plans, but their timelines are uncertain.
“The IEA report clearly highlights that Southeast Asia is at a crossroads,” said Sam Reynolds of the US-based Institute for Energy Economics and Financial Analysis.
Do-it-yourself approaches are one option
In the Philippines, which declared a national energy emergency, consumers have turned to rooftop solar at record rates, as a quick, do-it-yourself solution to rising utility bills.
“This is the first time I’ve seen a demand shock of this magnitude," said Ivan Cano with the Manila-based solar company EcoSolutions.
The Philippines became the second-largest destination for Chinese solar exports in the first quarter of 2026, the IEA found. Imports were around three times higher than the same period last year.
Consumers have also driven a shift in Southeast Asia's transportation industry.
Electric vehicle sales more than doubled in 2025 to around half a million units, according to the IEA, which found that one in five cars sold regionally is electric.
Last month, Laos banned the import of fuel-powered vehicles for the rest of 2026 to cut oil imports and encourage the shift to EVs.
Despite the tentative deal to end the Iran war, fossil fuel prices will likely remain high which means “we will see a push towards more ambitious clean energy deployment,” said Reynolds with IEEFA.
To overcome its weaknesses, Southeast Asia needs to reduce its overall demand for imported fossil fuels, the IEA said.
It suggests making national grids more efficient and boosting investment in all forms of renewable energy, such as solar, wind, hydro and geothermal power.
“The Middle East conflict is both a stress test of Southeast Asia’s current energy system and a catalyst to accelerate structural change,” the report stated.
Goldman Sachs Cuts Oil Price Forecasts after US-Iran Dealhttps://english.aawsat.com/business/5284649-goldman-sachs-cuts-oil-price-forecasts-after-us-iran-deal
Goldman Sachs Cuts Oil Price Forecasts after US-Iran Deal
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 15, 2026. REUTERS/Stringer
Goldman Sachs lowered its fourth-quarter Brent crude oil price forecast to $80 from $90 and cut its 2027 average estimate to $75 from $80, after the US and Iran signed a preliminary agreement to reopen the Strait of Hormuz.
The revision is the bank's second cut in a week after it lowered its oil price forecast for 2027 on Friday, Reuters reported.
Analysts said in a note released late on Monday that they now expect Gulf exports to normalize to pre-war levels by the end of July, earlier than their previous forecast of end-August.
Oil prices eased on Tuesday, having slipped nearly 5% to their lowest since March 10 after US President Donald Trump said a memorandum of understanding was signed to end the US-Israeli war with Iran, which had closed the Strait of Hormuz.
FILE PHOTO: A drone view of vessels anchored in the Strait of Hormuz as seen from Musandam, Oman, June 8, 2026. REUTERS/Stringer/File Photo
The recent breakthrough in the Strait of Hormuz crisis is more than a temporary development aimed at ensuring the flow of energy shipments. It represents a strategic shift with deep and direct economic and investment implications for the financial systems of the Gulf Cooperation Council (GCC) states. As this vital waterway serves as the main artery of global energy trade, carrying the bulk of Gulf oil and gas exports to international markets, the restoration of normal shipping activity opens new prospects for broader regional stability.
The United States and Iran recently announced a preliminary agreement to end the war in the Middle East and reopen the strategically important Strait of Hormuz after months of bloodshed and global economic disruption. US President Donald Trump said the strait, a critical route for global oil supplies that Iran had restricted since the start of the war, would be reopened. He added: “The deal with the Islamic Republic of Iran is now complete. Ships of the world, start your engines. Let the oil flow.”
Global markets reacted immediately to news of the preliminary agreement. Benchmark Brent crude futures fell more than 4.5 percent, dropping below $84 a barrel as investors awaited the signing of a formal treaty in Switzerland next Friday. The return of normal maritime traffic has opened new prospects for broader regional stability.
In comments to Asharq Al-Awsat, financial and economic adviser Dr. Hussein Al-Attas said the easing of the crisis goes beyond preventing disruptions to crude supplies and should instead be viewed as a structural support for financial stability. He noted that the benefits of renewed confidence far outweigh the temporary oil price spikes generated by geopolitical tensions.
Last week, the World Bank indicated that the expected gradual resumption of oil and gas flows through the Strait of Hormuz would help ease financial bottlenecks across GCC countries. It said the recovery of oil export growth would gradually support regional GDP growth, which is projected to reach 4.2 percent in 2027.
These optimistic recovery forecasts mark a turning point after a severe contractionary period. The World Bank noted in its structural analysis that the economic impact of the disruption was not uniform across GCC states, but depended largely on each country's reliance on the strait as its sole export outlet.
Kuwait and Iraq were identified as the most severely affected because neither has alternative maritime export routes outside the Arabian Gulf. The disruption created acute financing gaps and large budget deficits as millions of barrels per day remained stranded during months of restrictions.
Qatar faced complex logistical challenges in securing alternative shipping routes for liquefied natural gas exports bound eastward, resulting in delayed shipments, operational pressure on liquefaction facilities, and a sharp increase in insurance costs for Qatari tankers.
Major regional ports were also affected, particularly in re-export activity and logistics services. The financial and banking sectors in the UAE and Bahrain incurred direct costs as international funds increased the risk premium applied to investment assets in both countries.
In contrast, Saudi Arabia demonstrated considerable logistical and structural resilience during the crisis, benefiting from advanced infrastructure that enabled it to redirect more than 60 percent of its oil exports through the Red Sea via the East-West Pipeline. Likewise, Oman's ports on the Arabian Sea and Indian Ocean, including Sohar and Duqm, provided the Omani economy with geographic flexibility beyond the constraints of the Strait of Hormuz.
FILE PHOTO: A drone view of vessels anchored in the Strait of Hormuz as seen from Musandam, Oman, June 8, 2026. REUTERS/Stringer/File Photo
Filling Financial Gaps
Technical analyses of energy markets indicate that the gradual restoration of navigation through the strait will allow Gulf producers to return to normal export levels and generate the revenues needed to close multibillion-dollar financing and budget gaps that emerged as a result of the maritime restrictions.
The breakthrough also coincides with substantial pent-up demand from major Asian energy importers. Governments and refiners across Asia sharply curtailed consumption during the conflict and drew down inventories. They are now prepared to rebuild strategic reserves, ensuring sustained demand over the medium and long term.
Despite these positive prospects, energy experts quoted in a notable Associated Press report expect it will take several months before energy companies can fully restore operations to meet global demand. They noted that slow shipping and refining processes, along with lingering concerns about safe passage through the strait, mean the agreement's full positive impact will not be felt immediately.
In managing the crisis, Saudi Arabia's logistical and structural resilience again stood out. During the conflict, the Kingdom successfully utilized its advanced infrastructure to redirect more than 60 percent of its oil exports through the Red Sea via the East-West Pipeline, enabling it to maintain supply flows, seize market opportunities and mitigate export disruptions. This demonstrated the effectiveness and capability of Riyadh's alternative logistics infrastructure even under the most challenging geopolitical conditions.
A person sits in shallow water as cargo and commercial vessels are anchored in the Strait of Hormuz off Bandar Abbas, Iran, Monday, June 8, 2026. (Amirhosein Khorgooi/ISNA via AP)
Declining Risk Premium
Al-Attas told Asharq Al-Awsat that the most immediate benefit of the breakthrough is the decline in the geopolitical risk premium. During periods of conflict and uncertainty over potential closures, this premium rises automatically across Gulf assets and markets, creating pressure on financial markets and increasing operating costs.
With tensions easing, the premium falls sharply, directly boosting the confidence of regional and international investors and encouraging a strong return of both short-term and long-term investment flows to regional markets.
This decline is also closely linked to a recovery in maritime logistics and lower transportation and insurance costs. Continued tensions in the strait had driven shipping rates and war-risk insurance premiums to record levels, affecting trade flows and supply chains across the Gulf and beyond.
As stability returns, these costs are expected to decline significantly, improving the efficiency of both regional trade and international shipping routes.
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 14, 2026. REUTERS/Stringer
Momentum for Financial Markets
Al-Attas expects Gulf financial markets, including equities and fixed-income instruments, to respond positively to lower geopolitical risks. Investor appetite for blue-chip stocks is likely to increase, particularly in the banking, petrochemicals, transportation and logistics sectors, which serve as key drivers of regional exchanges.
The benefits will extend beyond equities. Gulf bonds and sukuk are expected to gain from lower yields and reduced risk premiums, increasing the attractiveness of sovereign and corporate debt instruments to global investment funds.
Greater clarity in the outlook also enhances the appeal of foreign direct investment. Global capital is constantly in search of stable and secure environments. As concerns over international shipping routes and energy corridors recede, Gulf countries become increasingly attractive destinations for foreign investment, particularly given the large-scale opportunities in tourism, industry and technology tied to national development plans and economic diversification efforts.
Regarding oil markets, Al-Attas said that although oil prices could ease somewhat as fears of supply shortages and disruptions fade, this price stability should be viewed as a positive development and a genuine gain over the medium and long term. Gulf states are not seeking temporary price spikes; rather, they benefit more from sustained global demand and the reliable, secure delivery of exports to both traditional and emerging customers.
This stability is also expected to improve the domestic business environment by accelerating major economic projects. Periods of uncertainty often lead companies and large investment groups to postpone expansion decisions or slow capital spending and liquidity deployment. With risks receding, private-sector decision-makers now have a clearer outlook for advancing strategic planning, investment expansion and hiring, supporting the region's long-term development goals.
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