Opinion Trade Europe needs to revisit Gulf relations or lose out to Asia The recent EU-GCC summit could not have come at a more critical moment October 28, 2024
Analysis Aviation Damascus resumes Saudi flights but sanctions stifle trade Syria has resumed weekly flights from Damascus to Saudi Arabia as commercial relations warm up further after diplomatic ties were restored last year. But Syrian integration into regional economies is still moving slowly, because of US sanctions. Syrianair began the once-weekly flights to Riyadh on July 10, adding its list of Gulf destinations including Dubai, […] July 17, 2024
Opinion Economy Macron gambled and lost. Now bond markets will have their say The election result puts France on a collision course with global capital markets and the EU July 9, 2024
Employment Saudi Arabia will pay costs of normalising migrants’ status Saudi Arabia said this week it will take on the costs of normalising the status of displaced individuals from neighbouring countries in what could amount to amnesty for thousands of illegal migrants and refugees. “The state assumes the costs on behalf of individuals permitted to stay and rectify their status among the displaced from neighbouring […] April 3, 2024
Construction Sharjah developer launches Syria home-building campaign The Sharjah developer Arada has launched its third annual Ramadan charity campaign, pledging to build homes for displaced families in Syria. For every house sold at Arada’s real estate developments during the holy month, the company will build a home for a Syrian family affected by recent conflict and the February 2023 earthquakes. The “Home […] March 19, 2024
Media & Advertising In the streaming age, the TV stays on after Ramadan YouTube creators and streaming services are changing the face of television all over the world – but particularly in Arab countries, according to executives who attended the Red Sea Film Festival in Jeddah this month. The entertainment industry in the Middle East traditionally focused on the fasting month, when TV shows could find a captive […] December 18, 2023
Analysis Industry Future is rosy for Mena phosphate producers With Morocco and Saudi Arabia now holding the bulk of the world’s high-quality, accessible phosphate rock reserves, the Middle East and North Africa (Mena) region is a major centre for the phosphate mining industry’s future growth, analysts say. Morocco alone holds around 70 percent of the world’s total reserves of phosphate rock, the raw material […] November 17, 2023
Energy Syrian president appoints new oil minister in cabinet reshuffle Syrian President Bashar Al Assad has appointed a new oil minister and changed four other ministers in a cabinet reshuffle, state media said on Wednesday. Hassan Kaddour, who was the general director of the Syrian Petroleum Company for the last two years, replaces Bassam Touma as oil minister, the report said. Assad named Mohsen Abdelkarim […] March 30, 2023
Construction World Bank estimates Syria needs $7.9bn for reconstruction The World Bank on Monday said the February earthquakes are expected to have caused Syria’s real GDP output to contract by 5.5 percent in 2023, with recovery and reconstruction needs estimated at $7.9 billion over three years. The World Bank said its rapid damage and needs assessment report estimates the earthquakes that hit northern and […] March 21, 2023
Energy Syria suspends hydropower operations amid low water levels Local authorities in northeast Syria will suspend operations at a hydroelectric dam for a week because of low water levels, two officials said on Wednesday, leaving several million people at risk of power outages. The Tishreen dam in the northern province of Aleppo will be out of service from Wednesday until March 8, an online […] March 2, 2023
Banking & Finance Turkey and Syria quake: Nations extend support and aid Governments and international organisations from around the world have responded with offers of support after an earthquake of magnitude 7.8 struck central Turkey and northwest Syria. Below is a list of some of those announcements of support: UAE The UAE said it would set up a field hospital in Turkey and dispatch search and rescue […] February 8, 2023
Economy Syria steps up fuel rationing as shortages hit mobile network Syria announced on Tuesday it would cut the amount of fuel it provides to government employees to help address shortages that have knocked out a number of mobile phone towers. Prime Minister Hussein Arnous ordered a 40 percent cut in the amount of fuel provided to government employees and restrictions on official travel for non-urgent […] November 30, 2022
Banking & Finance Syria weakens official exchange rate to US dollar by 7% Syria’s central bank has weakened its official exchange rate to 3,015 Syrian pounds to the dollar, a central bank statement said on Monday, while black market rates used for most economic activity sat around 4,440. The official rate was previously set at 2,814. Monday’s softening of the official rate represents a loss in value of […] September 20, 2022
Tourism Crushed by war, Syrian tourism eyes expat uptick Somar Hazim had high hopes when he opened a hotel in Damascus in 2009, adding to a growing number of boutique guest houses in the Old City that were proving to be a hit with tourists, before war broke out and forced him to close down. Although security returned to Damascus years ago, big-spending foreign […] August 10, 2022
Economy UN aid to Syria from Turkey to be allowed until January The UN Security Council appears set to allow UN deliveries of aid to some four million people in northwest Syria from Turkey until January, diplomats said on Monday, after days of wrangling with Russia over how long to let the huge operation continue. The mandate for the operation, which has been delivering food, medicine and […] July 12, 2022
Insight Food & Drink Ukraine war drives Gulf to double down on food security As the war in Ukraine has pushed up food prices and disrupted supply chains, hard-hit Mena countries explore ways to protect themselves In Abu Dhabi clusters of fresh tomatoes are growing inside rows of climate-controlled greenhouses in the middle of the desert – just one example of the lengths the arid region must go to […] May 12, 2022
Analysis Industry In Syria, business hub hopes to drive recovery from war In an industrial zone in northern Syria’s rebel-held city of Al-Bab, Abu Omar al-Shihabi’s smelter churns out iron bars he says can compete with any produced in Syria and beyond. The industrial zone is an unlikely business hub. It is located on the edge of a city which was once occupied by Islamic State and […] May 3, 2022
Real Estate In north Syria, business hub hopes to drive recovery In an industrial zone in northern Syria’s rebel-held city of Al-Bab, Abu Omaral-Shihabi’s smelter churns out iron bars he says can compete with any produced in Syria and beyond. The industrial zone is an unlikely business hub. It is located on the edge of a city which was once occupied by Islamic State and now […] April 29, 2022