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

News

Latest news

Covid-19 Update: Russia Hmeimim Forces Vaccinated, Syrians Still Waiting

Central Bank Issues 5,000-Pound Banknote As Inflation Soars

Government Moves to Regulate Online Business to Boost Revenues

Media Reports Link Three Syrian-Russian Businessmen to Beirut Blast

Syria Increases Petrol Prices for Third Time in a Year

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

Covid-19 Update: Russia Hmeimim Forces Vaccinated, Syrians Still Waiting

Media Reports Link Three Syrian-Russian Businessmen to Beirut Blast

Turkey Expands Postal Network, Deepening Influence in Northern Syria

EU Court Belatedly Rejects Already-Delisted Figure’s Sanctions Appeal, Creating Confusion

Tensions Rise as Syria’s Cost of Living Surges by 93 Percent

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Education

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

Turkish University to Integrate Students from 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

Central Bank Issues 5,000-Pound Banknote As Inflation Soars

Stock Market Update – December and Full Year 2020

Bank Audi Sells Shares of Syrian Subsidiary, Quits Country

Makhlouf-Linked Brokerage Likely to Close, While New Firm Emerges

New Dollar Rate Raises Concerns in Damascus

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Food & Agriculture

Hassakeh Vegetable Oil Plant Highlights Kurdish War Profiteer’s Growing Role

Syria Issues New Wheat Tender Amid Significant Drop in Imports

Sales, and Prices, of Alcoholic Drinks Surge in Syria

French Subsidiary of China’s Synutra Signs Cooperation Deal in Syria

Wheat Harvest Improves but Imports Needed to Meet Demand

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Health

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

Government Seeking Ways for Partial Disinvestment from Health Sector

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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

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

Currency Crisis Leads to Shortages of Paper Products Despite New Investments

New Contract Between Syrian and Iranian Companies Funded by Tehran’s Credit Line

Car Production Suspended as Government Maintains Import Ban

Syria Lifts Import Tariffs on Many Manufacturing Inputs

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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

Syria Increases Petrol Prices for Third Time in a Year

Syria Imported USD 820 Million of Oil Products Over Last Six Months, Prime Minister Says

Syria’s Oil Crisis Reappears as ISIS Attacks, Sanctions Bite

More Details Emerge of US Company’s Oil Deal in Northeast

Rise of Two New Fuel Companies Highlights HTS Control in Northwest Syria

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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

Russian Firm Enters Syria’s Renewable Energy Sector

Syria Awards EUR 124 Million Contract to Restore Aleppo Power Plant

Israeli Company Secures Funding for Golan Wind Project

Capital and Know-How Shortage Hampers Power Sector Development

Israel Expands Energy Investments in Occupied Golan Heights

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Real Estate & Construction

Government Issues Rare Tender to Export State-Made Cement

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

Fayhaa Area to Become Potentially One of Damascus’s Largest Suburbs

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Retail & Trade

Trade with Iraq Fails to Take Off

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

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Telecoms & IT

Syria's Third Telecom Licence to Be Issued in Early 2021 - Minister

MTN Exit Marks Withdrawal of Last Major Foreign Investor in Syria

In Another Blow, Rami Makhlouf Loses Control of Syriatel’s Management

Government Piling Pressure on Makhlouf and MTN

Pressure on Phone Companies Suggest Possible Change in Structure and Ownership

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Tourism

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

Disputes over Two Large Tourist Resorts Confirm Poor Syrian Business Environment

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Transport

China Makes Offer for Suburban Rail Project in Syria’s Badly-Damaged Railway Sector

Syrianair to Sell Aircraft

Oil Shortages Push Public Transport Fares Higher

Iran Fails to Control Lattakia Port

Sanctions, Currency Shortage to Hinder Harasta Electric Bus Station Project

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Water

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

Malaysian Company Invests in Syria’s Water Sector

Malaysian Company Eyeing Water Treatment Projects

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Sector

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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

In Bid to Reduce Government Expenses, Three State Entities Merge

Syriatel Sees Surge in Revenues, Remains Market Leader

Syria’s Internet Subscription Costs Rise 20pc

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