Rami Makhlouf (316)

11-04-2017

The revenues of Syria’s two mobile phone companies surged last year helped by a hike in communication rates imposed by the government.

11-04-2017

The Syrian government has revoked the license of two old and prominent charities in Aleppo as its cronies increasingly set their sights on the lucrative NGO business.

11-04-2017

Updated on April 20, 2017: The list of investors whose assets were recently frozen by the Syrian government has dozens of prominent names, including family members of prominent security officials.

04-04-2017

The Syrian President has sacked Adib Mayaleh, the Minister of Economy, as part of a small government reshuffle, ending the political career of a long-time regime servant.

21-03-2017

Nader Qalei, a prominent Syrian businessman and former partner of Rami Makhlouf, has been awarded a long-term contract for the management of a 5-star state-owned hotel.

07-03-2017

Two powerful Syrian investors are establishing a company in joint-venture with state entities to bid for potential reconstruction contracts despite an apparent lack of funding.

27-02-2017

The attempt by the Syrian government to lure back investors who fled the country is facing resistance from regime cronies, reflecting the obstacles that any serious reconstruction drive will face.

21-02-2017

Syriatel has appointed two new directors to its board as it prepares to list in the Damascus Securities Exchange.

07-02-2017

Byblos Bank has announced that it was writing off its Syria investment and deconsolidating its operations there.

17-01-2017

A new weekly owned by a local businessman has started publishing in Damascus.

03-01-2017

Cham Wings, a private airliner, Russian banking executives and Rami Makhlouf-owned companies are among 23 new entities and individuals blacklisted by the American administration.

29-11-2016

An Iranian company, in partnership with a leading regime crony, is expected to win the license to operate a mobile phone network in Syria.

22-11-2016

A new government report has cast doubts on the actual level of oil production in Syria.

08-11-2016

MTN-Syria has announced an increase in its quarterly revenues and a decrease of the licence fees it pays to the government.

25-10-2016

Despite the massive destruction of the economy, Syriatel and MTN, the country’s two mobile phone operators, continue to generate significant revenues and profits.

18-10-2016

The deputy minister of foreign affairs of the Czech Republic visited Damascus last week in a rare visit by a high ranking European official since the beginning of the uprising.

04-10-2016

The destruction of dozens of small cafés and shops located on the seaside of Jableh, apparently to make way to a large real estate development project, has created significant discontent in this coastal town traditionally supportive of the regime.

06-09-2016

The total value of contracts awarded to Syrian companies by United Nations agencies last year was close to USD 200 million, according to a UN document.

30-08-2016

The UN has been granting dozens of millions of dollars to companies associated with the regime, a report from The Guardian has found.

30-08-2016

A Syrian pro-regime publication has claimed that a handful of traders control as much as 60 percent of all Syria’s import trade, a report that reflects the tensions existing between Syrian businessmen over the control of import trade.

30-08-2016

Syrian media are reporting that Cham Wings, a private airline, has been granted a license by the European air traffic regulator, to fly to Europe, potentially restoring air traffic between Damascus and EU countries.

15-08-2016

Syrianair, the state-owned carrier, has rented a 20-year old Airbus plane from Iran’s Mahan Air to increase the size of its fleet that had fallen to a single aircraft.

26-07-2016

The U.S. Treasury has put eight individuals and seven entities under Syria-related sanctions in the first update of its blacklist for eight months.

25-07-2016

The appeal by Samir Hassan, a leading Syrian investor, to lift sanctions imposed on him by the European Union has been rejected.

04-07-2016

Updated on July 05: A new Government was formed in Syria on Sunday, the first in two years.

28-06-2016

Al-Mashreq, the investment arm of Rami Makhlouf, Syria’s most prominent business tycoon, has taken to court Gulfsands Petroleum over claims that its share in the UK-based oil company has been diluted.

24-05-2016

The Syrian Civil Aviation Authority has suspended for one full month the license of Cham Wings, the country’s main private sector airline.

12-04-2016

While the Panama Papers did not reveal anything unexpected on Syria, the investigation over them will likely complicate further the attempts by officials and regime cronies to hide their money.

22-03-2016

Ayman Asfari, one of Syria’s wealthiest individuals, has reportedly bought a significant stake in a company with significant oil assets in Syria and which includes among its other shareholders one of the regime's most powerful business tycoons.

22-03-2016

Syriatel’s share of Syria’s mobile phone market increased in 2015, according to the latest data available.

15-03-2016

Cham Wings has announced the opening of a new route to Tehran as Syrianair sees almost all its fleet grounded.

05-10-2015

Cham Wings continues to expand its services and will start soon flying to Sudan.

07-09-2015

Cham Wings, Syria’s only private airline, expanded its services last week with a new weekly flight to Muscat, Oman.

20-07-2015

Cham Wings has resumed today a direct air link between Damascus and Doha.

20-07-2015

Syriatel has reported an increase in its revenues in the first quarter of this year.

22-06-2015

A Swiss court has decided to maintain a freeze on the assets of Rami Makhlouf one of Syria’s wealthiest and most powerful businesspersons.

15-06-2015

A businessman close to the Syrian regime is calling on the Government to declare the province of Tartous a free trade zone.

01-06-2015

The new licenses governing the operations of Syria’s two mobile phone companies will generate huge losses for the Syrian State in the coming years, while increasing the profits of the two companies, Syriatel and South Africa’s MTN, official records show.

18-05-2015

The financial statements of Syria’s two mobile phone companies are providing details on the terms of the long-term licenses granted to them at the beginning of this year.

04-05-2015

Issam Anbouba, a prominent Syrian businessman, has seen his appeal to lift the sanctions imposed on him by the European Council rejected.

13-04-2015

Cham Wings, Syria’s only private airline, is starting round trips to Kuwait, the company announced in a statement.

09-03-2015

Four individuals of Syrian origin are listed in the world’s billionaires list published by Forbes magazine, although none of them built his wealth in the country.

02-03-2015

Real estate investment and development

16-02-2015

The Swiss Leaks data, which provide information on over one hundred thousand account holders with the Swiss branch of HSBC, list Syria 40th worldwide among the countries with the largest dollar amounts.

26-01-2015

Mohammad Makhlouf, the maternal uncle of Syrian President Bashar Al-Assad and father of business tycoon Rami Makhlouf, has seen a European Court refuse his request for the lifting of sanctions imposed on him.

05-01-2015

The Syrian government announced last week that it had agreed to award long-term licenses for the two companies operating the country's mobile phone network.

17-11-2014

Sales of the General Organization of Tobacco, a state monopoly that usually generates significant revenues for the Treasury, reached SYP 25 billion in the first nine months of the year, as the company seeks to produce cigarettes under license from a Russian group.

18-08-2014

MTN-Syria is close to concluding a deal with the Syrian government to gain a 20-year mobile phone licence.

21-07-2014

One of Syria’s state-owned press groups is reportedly planning to issue a daily newspaper to cover Tartous local news.

24-03-2014

A new Syrian private airliner will start flying a daily round trip from Damascus to Kuwait starting March 30.