Rami Makhlouf (306)

05-08-2020

The government is continuing its efforts to weaken Rami Makhlouf by putting one of his main companies under judicial custody. The company, Cham Holding, was at one point Syria’s largest holding and includes some 70 prominent businesspersons among its shareholders.

05-08-2020

An American company has signed a contract with the Syrian Democratic Forces to develop oil production and marketing in northeastern Syria and has received a sanctions waiver from the U.S. administration.

05-08-2020

Prices and trading volumes fell in the Damascus Securities Exchanges last month as Syriatel was removed from one of the exchange’s two indices.

29-07-2020

UPDATED on July 30, 2020: Following the closure of Rami Makhlouf’s microfinance bank, Asma Al-Assad is expanding the size and geographic presence of her financial institution.

15-07-2020

Just a couple of weeks after kicking out Rami Makhlouf’s company, the government has issued a tender for investors to manage duty free outlets at the country’s border crossings.

08-07-2020

The value of a single shipment of Captagon pills from Syria recently seized by Italian customs authorities represents more than the country’s total annual exports of goods. The Italians have pulled back from their initial claim that ISIS was behind the shipment.

01-07-2020

The Syrian government has continued its campaign against Rami Makhlouf, effectively ending the operations of two more of his best-known business ventures, including his oldest and most recent ones, within a couple of days.

24-06-2020

The table below lists 68 companies known to be affiliated with Rami Makhlouf.

24-06-2020

Trading and investment in various field

17-06-2020

The management of Syriatel has effectively shifted to the Syrian government after a Syrian court granted judicial custody of the company to a state entity.

17-06-2020

The Caesar Act has hardly been implemented before starting to make its impact felt in Syria: the withdrawal of a Lebanese company from the market has suspended the ATM networks of most private banks operating in the country.

10-06-2020

Syria’s two airlines have headed in opposite trajectories in recent weeks, possibly partly because of the rift between Rami Makhlouf and the Syrian president.

10-06-2020

The Syrian currency collapsed last week, crossing both the 2,000 and 3,000 pound-per-dollar thresholds within a few days and creating panic in the market. The consequences on living conditions in Syria will be dramatic.

03-06-2020

Stock prices and volumes jumped in May and the stock exchange announced the suspension of the Syriatel stock.

27-05-2020

Just a few days after his appointment, Syria’s new minister of domestic trade—and potential future prime minister—Talal Al-Barazi, has started to make his presence known.

20-05-2020

The past week has seen a stunning succession of decisions, statements, appointments and resignations that illustrate the piling up of government pressure on Rami Makhlouf to silence him once and for all and restructure Syria’s telecommunications sector.

13-05-2020

Damascus Cham Holding has given more details on one of the large developments it is seeking to promote in Marota City.

13-05-2020

The Syrian currency has continued its precipitous decline and is now nearing the 1,600-pound level.

13-05-2020

Three board members of MTN-Syria resigned this week as government pressure continues to impact the telecoms sector.

13-05-2020
11-05-2020

The rise of Rami Makhlouf as Syria’s most prominent businessman coincided with the ascent to power of Bashar Al-Assad in 2000. Given his long history of influence within the ruling elite, Mr Makhlouf’s recent side-lining raises many questions about the potential implications of his fall from grace.

06-05-2020

Two extraordinary videos posted by Rami Makhlouf on his personal Facebook page have laid bare the divisions at the heart of the Syrian regime and posed a challenge for Bashar Al-Assad within the Alawite community. The Syrian president has been forced into a quick public defence of one of his most contested measures.

06-05-2020

For the second time in just a month, a drug shipment originating from Syria and packaged under the name of a well-known local brand has been seized, this time in Saudi Arabia.

29-04-2020

The past few weeks have seen renewed challenges on Rami Makhlouf’s position within the Syrian regime: a shipment from one of his companies was seized in Egypt because it contained drugs; his personal assets and those of one his companies were frozen; and the government is claiming at least one hundred billion pounds from Syriatel.

29-04-2020
22-04-2020

The Syrian government began selling subsidised bread through its smart card system on April 15 in Damascus and its countryside.

11-03-2020

The combined assets of Syrian private sector banks increased last year, but this was the result of the growth in the assets of a single bank. Rising inflation also means that in real terms assets declined.

04-03-2020

The government is distributing one additional item through its smart card system and increasing the quantity of goods sold to large families.

04-03-2020

A strange statement by the Syrian Presidency has highlighted potential tensions within the regime’s highest circles.

04-03-2020

The Ministry of Transport has eased licensing conditions for airlines, paving the way for more investors to get involved in the sector.

26-02-2020

The government’s plan to rebuild the Qaboun industrial area is facing stiff resistance from business owners, who have voiced rare public criticism of the project.

19-02-2020

The list below includes the names of all the individuals that have been blacklisted by the European Union since the beginning of the Syrian uprising in March 2011.

19-02-2020

The list below includes the names of all the Syrian entities that have been blacklisted by the European Union since the beginning of the uprising in March 2011.

19-02-2020

The European Union sanctioned on February 17 several Syrian companies and individuals, including business figures from before the uprising or who emerged during the conflict and are active in sectors such as real estate and oil trading.

19-02-2020

Preliminary results indicate that Syriatel and MTN-Syria maintained their respective shares of the mobile phone market after seeing revenue growth of around 20 percent.

12-02-2020

The Central Bank of Syria has expanded the use of a devalued exchange rate as it seeks to lower pressure on the pound in the black market.

12-02-2020

In a very rare statement denouncing the recent legal proceedings against him, Rami Makhlouf has provided several interesting insights into his personal situation, indicating that he intends to remain active in the business scene.