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Syria

Cronyism in Syria crowded out foreign investment even before conflict began

Syria’s first needs: energy and investment 

It can get mighty cold in Damascus and Aleppo. Unfortunately, it may be about to feel a lot colder for Syria’s hard-pressed population as supplies of oil and gas dwindle. As our columnist Frank Kane wrote this week, after nearly 14 years of civil war Syrian oil production is not enough to move the dial […]

Celebrations in Syria for the downfall of Assad, which Standard Chartered's Eric Robertsen says could have a positive effect on the region

Syria upheaval could be a sign of progress for the region

The removal of the Assad regime in Syria is a “step in the right direction for the region”, according to a leading economist from Standard Chartered. Eric Robertsen, managing director of global head of research and chief strategist at Standard Chartered, was discussing the fallout of a series of geopolitical crises during a media round […]

A Syrian family crosses into Syria from Turkey at the Oncupinar border crossing near the town of Kilis in southern Turkey. Syrian refugees in Turkey started their journey back home following the collapse of the regime of Bashar al-Assad

The pros and cons for Turkey of a Syrian exodus

The end of the civil war in Syria will, at least in time, offer strong economic opportunities for neighbouring Turkey, though there could also be a few unwanted costs coming as part of any peace dividend.  On December 10 Turkish officials said they were developing plans to support up to 2 million of the 3.2 […]

Syrians living in Istanbul hold a picture of Turkey's President Erdoğan as they celebrate the fall of Syria's President Assad

Turkish builders sense opportunity in Syria

Turkey’s construction sector is hoping to build on the rubble of the collapsed Assad regime in Syria.  There are high expectations that Turkish companies will be in the running to win valuable contracts to replace damaged housing and infrastructure. There were sharp rises in building shares on the Istanbul Stock Exchange on December 9, the […]

John Bass, US undersecretary of state, will visit Jordan this week

US senior official in Jordan to discuss bilateral issues

US undersecretary of state John Bass will arrive in Jordan on Monday to discuss a range of bilateral issues and this week’s $845 million cash transfer to support the Arab state. During meetings with senior Jordanian government officials Bass will also discuss efforts to de-escalate regional conflicts, the US Department of State said in a […]

Syrian pilgrims queue at Damascus airport on their way to visit Saudi Arabia in June

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, […]

Foreign labourers work at the construction site of a building in Riyadh Foreign workers on a building site in Riyadh; thousands of migrants who have the right to work in Saudi Arabia could have their work permit fees covered for four years from the date of recognition

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 […]

Arada project Syria

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. NewsletterGet the […]

Man watching tv and eating popcorn at home on a couch, back view

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 […]

Phosphate mining in Morocco

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 […]

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 […]

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 […]

Outdoors, Water, Railway

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 […]

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 […]

Road, Truck, Vehicle

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 […]

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 […]

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 […]

Person, Human, Clothing

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 […]