Rami Makhlouf (316)


A number of Syrian investors have won together the contracts to develop several key real estate and transport projects including the Hijaz Station estate in central Damascus.


A number of prominent Syrian businessmen have announced the launch of a new cement manufacturing plant.


The turnover of Syriatel, the largest of Syria’s two mobile phone network operators, grew 31.5 percent in 2005 to reach SYP 25.5 billion (USD 510 million) from SYP 19.39 billion in 2004.


Byblos Bank Syria will celebrate its launch in Syria in an official ceremony to be held on June 19th, six months after it actually began its operations.

Five key opposition figures imprisoned following the ‘Damascus Spring’ pro-democracy movement that began after Syrian President Assad took power in 2000, were released from prison on January 18.

The past fortnight has seen a sustained effort on the part of the Syrian regime to mobilise domestic support in the lead up to the second UN report into the assassination of former Lebanese Prime Minister Rafik Hariri.

Whether it is pure propaganda aimed at further pressuring the Syrian regime or true facts in the face of escalating tension between Syria and the US, American sources were quoted last week as reporting a massive flight of capital from Syria to banks in...
The government’s predicament over the Mehlis inquiry, a process which on the one hand it says it supports while on the other it discredits as being “politicised”, manifested itself on the streets of Damascus in the third week of October in a series of unconvincing state-organised rallies against the UN findings.

Thousands of Syrian troops leave Lebanon amid unprecedented street demonstrations both sides of the border.

Adnan Suleiman, head of Syria's General Free Trade Zones authority has announced that 13 new Duty Free Markets will be built throughout Syria's border posts.
An investment fund with a capital of SYP 4 billion (USD 77 million) has been licensed under Investment Law N°10.
The Syrian mobile phone operator has purchased a USD 290 million, 15-year license to operate a GSM network in Pakistan.

By Samir Aita*

In the last weeks, two major events have provided a new shape to the Syrian business world and to Syria's position in the regional and international environments: the award of a major gas contract to a consortium involving Canadian and US companies, and the award to Syriatel, one of Syria's two mobile phone operators, of a GSM license in Pakistan, the country most concerned by the American "Greater Middle East" initiative.


A number of new duty free markets (DFMs) are expected to be set up on Syria's borders, according to a story from Zone News an Arabic news portal, after licenses in that sense have been provided to unnamed Syrian private investors.


The rift between the two partners of the mobile phone operator Syriatel seems to be nearing its end after the Syrian court handling the case ordered Egypt's Orascom Telecom (OT) to hand over the 720,000 shares it owns in the operator, at an estimated c...


According to a statement from Egypt's Orascom Telecom (OT), reported by AFP, the company has obtained a freeze on the assets of Drex, its Syrian partner in the mobile phone operator SyriaTel.