Two private Syrian banks owned partially by foreign investors have taken steps to rebrand, in a move to reduce the risk for foreign shareholders a few months after the enactment of the Caesar Act.

The Syrian pound has renewed its sharp decline and is once again nearing the level of 3,000 pounds to the US dollar it crossed this summer before making a modest recovery.

The Syrian government will commission an unnamed contractor to restore turbines at the Aleppo thermal power plant—one of the country’s biggest power plants—in a contract worth EUR 124 million, officials said.

Following a rapid spread of the Covid-19 pandemic in opposition-held parts of Syria, authorities in the country’s northeast have imposed a full lockdown for ten days to try to slow the virus’s advance.

An opposition-affiliated fund financing projects in areas outside government control is launching new projects worth EUR 8 million in northern Syria, including in the agriculture and electricity sectors.