The Syria Report - Economy, Business and Finance - Syria and the Middle East

News

Latest news

OFAC Settles with Payoneer Over Syria Sanctions Breaches

Details of New Green Energy Projects Emerge Amid Fuel Crisis

Government Cuts Bread Allocations Posing Further Risks to Food Security

Russia Delivers New Batch of Vaccines to Syria as Delta Variant Looms

Survey Highlights Challenges for Small and Medium Enterprises in Syria

B2B

Chambers of Commerce Elections Mark Fading Influence of Businessmen Who Accompanied Bashar’s Rise

Update and Correction: Elections at Chambers of Commerce

Greek Business Delegation in Damascus

Russian Businesses Still Looking for Opportunities in Syria

Date for Damascus International Trade Fair Announced

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Economy

Government Cuts Bread Allocations Posing Further Risks to Food Security

Russia Delivers New Batch of Vaccines to Syria as Delta Variant Looms

Value of UN Contracts Awarded to Syrian Businesses Slightly Up Last Year

Top Chinese Official Visits Syria in Show of Support for Regime

Assad Says Economy Improving Despite Deepening Hardship

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Education

Turkish University Opens Medical Units in Opposition-Controlled North, Provoking Damascus

US Education Company Wins Rare Exemption to Offer Services in Syria

Iran Signs Deal to Spread Persian Language in Syria

New Turkish University to Open Branches in Northern Syria

Turkey to Open University Campus in Northern Syria

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Features

The Future of Damascus: Economic Liberalization and Urban Reorganization

China and Syria Restart an Old Relationship

Iraqi Refugees: A Boon to The Syrian Economy?

Editorial: Syria and Lebanon: A Complicated but Interdependent Relationship

Where Will Syria Stand in a Few Years Time?

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Finance

OFAC Settles with Payoneer Over Syria Sanctions Breaches

Survey Highlights Challenges for Small and Medium Enterprises in Syria

Excess Liquidity in Syria's Banking Sector Up 44 Percent Last Year - Central Bank

Syria’s Stock Index up 24 percent in H1

Interest Rates Charged on Lending Facilities Unchanged in 2020

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Food & Agriculture

Syria to Import Ginned Cotton for First Time in its History

Sharp Rise in Fertiliser Prices Set to Depress Farming Sector Further

Russia Vows to Supply One Million Tons of Wheat to Syria

Government Faces Uphill Struggle to Secure Enough Wheat

Syria Maintains Rank Among World’s Leading Producers of Pistachio

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Health

Syria Raises Medicine Prices Amid Rising Costs

Defence Ministry Hospitals to Provide Services to State-Insured Clients

Iran Stops Flights to Syria as Coronavirus Rumours Spread in Damascus

Syria Says All Coronavirus Cases Tested Negative So Far

Samer Foz Absent from Launch of His Pharmaceutical Plant

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Legal

Report Provides Data on Trademark and Industrial Design Registrations

Trademarks Registration Numbers Remain Stable

Increase in Official Publication Fees in Syria

New Law Defines Tasks of Notary Public

AGIP Adds Syria to Patents Database Service

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Manufacturing

Major Clothing Manufacturer to Close Some Outlets as Textile Sector Struggles

Investment up Slightly in 2019, Report Shows

Syria to Award Key Tobacco and Steel Projects to Private Companies, Including Russian Firm

Manufacturing Growth Slowed by Coronavirus, Fuel and Currency Crises

Syria’s Industrial Cities See Rise in Value of Newly Licensed Projects, Slowdown in Jobs and Construction

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Media

Government Moves to Regulate Online Business to Boost Revenues

Advertising Market Impacted by Shift Among Powerful Regime Figures

Syrian Advertising Markets Remains Very Small

Information Ministry to Tax Online Advertising as Market Shifts

Al-Waseet Closes Over Decline in Market, Spat Among Shareholders – Report

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Oil, Gas & Mining

Gas Well Resumes Production as Government Seeks to Boost Supply

Iran Oil Exports to Syria Stable in First Half of 2021

German Firm Stays in Syria Despite Sanctions

Gulfsands Eyes Return to Syria, Production Stable at 20,000 bopd Last Year

Aid Groups in Syria Explore Options for Securing Fuel Amid Shortages

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Politics

Note to Our Readers

Assad Says Extremists Escaping Into Lebanon as Beirut Embassy Plans Shelved

"We Need an Opposition Away from Ideology and Closer to People's Issues."

Iraqi-Majority Damascus Suburb Burns After Deadly Dispute

Human Rights Worst Since 2000 Says Report as Islamists Sentenced Under Law 49

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Power

Details of New Green Energy Projects Emerge Amid Fuel Crisis

Syria's Power Production Disrupted by Gas Shortages, Ailing Plants

Power Sector Losses Estimated at USD 2.4 billion

State Media Names Contractor for Aleppo Power Plant Repair

Government Rations Power to Industrial Cities in New Sign of Crisis

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Real Estate & Construction

Rising Cement Sales Indicate Increase in Construction Activity in 2020

Government Inaugurates First Project in Real Estate Development Area

Syria Hikes Cement Prices Again, Production Stable

Construction Costs Continue to Rise After 50-Percent Cement Price Hike

Government Cancels Precautionary Asset Seizure for Hundreds of Daraa Opposition Figures, Though Thousands Remain

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Retail & Trade

More Bad News for Makhlouf as Duty-Free Markets Offered for Investment

Decline in Free Zones Revenues Indicates Worrying Trend

Trade with Turkey Declines While Oil Imports from Lebanon Increase

Government Decision Increases Transit Cost Through Syria

New Data for Free Trade Zones

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Telecoms & IT

Rami Makhlouf Loses Ownership of Syriatel

Businessmen Linked to Asma Al-Assad Set to Control Syria’s Latest Telecom Operator

Huawei Appoints New Managers to Syria Subsidiary

Government Suspends Mobile Phone Imports to Save Foreign Currency

Government Pressure on MTN Forces Syrian Subsidiary into Curatorship

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Tourism

Katerji Family Expands in Syria's Tourism Sector

Katerji Family Opens First Hotel in Aleppo

Tourism Ministry Becomes First Syrian Ministry to be Blacklisted by OFAC

More than 200,000 Passports Issued Annually in Syria

Upscale Tourism Investments Unlikely to Take Off

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Transport

UAE Allows Syrian Airlines to Resume Direct Flights

Deal Between Motorbikes Producer, Microfinance Bank, Highlights Impoverishment of Syrian Population

Syria Legalises Ride-Hailing Business Amid Fuel Crisis

Lattakia Port Container Traffic Down by 25 Percent in 2020

Direct Shipping Line to Open Between Iran and Syria

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Water

Low Water Levels Threaten Economy of Northeast Syria

Syria to Receive Funds from Malaysian EXIM Bank for Sewage and Water Treatment Projects

Khabour Dam Irrigates Land for First Time in Decades as Euphrates Flows Drop

Government Announces Water Projects in Raqqa

Syria to Expand Water Bottling Capacity

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Sector

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Ten Years of Syria Report

Increase in Official Publication Fees in Syria

Trademarks Registration Numbers Remain Stable

Government Increases Significantly Medicines Prices, Reducing Further Purchasing Power of Population

Correction: Elections at Chambers of Commerce

The Banking Sector at the Forefront of Syria’s Economic Reform

Combating Unemployment, an Urgent Task for the Syrian Government

First Case of H1N1 Reported in Opposition Areas

Wadi Barada Battle Not Only About Water Supplies

New Weekly Funded by Powerful Local Investor Starts Publishing In Damascus

Syrian Universities Rank Poorly in Global Index

Syrian Investor Plays Key Role in Large Online Retail Business Deal

Syriatel Sees Surge in Revenues, Remains Market Leader

Syria’s Internet Subscription Costs Rise 20pc

In Bid to Reduce Government Expenses, Three State Entities Merge

After Two Months Suspension, Water Supplies Resume in Aleppo

Decline in Sales of Media Group Highlights Impact of War on Syrian Companies

Raqqa Chamber of Commerce Holds First Meeting in Four Years

Egyptian Industrial Group Changes Name of Affiliates in Bid to Distance Itself from Syrian Market

Fleeing Conscription, Men Now Form Majority of University Students