Saudi Arabia announced $6.4 billion of investments in Syria on Thursday, reflecting the kingdom's deepening ties with interim President Ahmed al-Sharaa's government as it seeks to rebuild Syria after a 14-year civil war.
The deals, unveiled by Saudi Investment Minister Khalid Al-Falih at a Damascus forum, are a major financial boost for Sharaa as he struggles to establish control over Syria, which was rocked this month by sectarian violence in the southwest.
Al-Falih said his visit to Syria had been ordered by Saudi Arabia's Crown Prince and de-facto ruler Mohammed bin Salman, calling the trip "confirmation of the kingdom's firm and supportive stance towards sisterly Syria".
The investment deals included $2.93 billion for real estate and infrastructure projects and about $1.07 billion for the telecommunications and information technology sector, Al-Falih said.
Businesses involved in the plans include telecommunications firms the Saudi Telecom Company (STC) and GO Telecom, digital security company Elm, cybersecurity firm Cipher, and Classera, an education technology company.
Al-Falih said 47 agreements would be signed over the course of the conference, with more than 100 companies participating.
Al-Falih also announced the establishment of a Saudi-Syrian Business Council at the event, which had been scheduled for June but was delayed due to the conflict between Iran and Israel.
Riyadh has been a key ally of Sharaa's government, which came to power after longtime ruler Bashar al-Assad was toppled in December, using its diplomatic influence to persuade U.S. President Donald Trump to lift sanctions.
Companies, many from Gulf states and Turkey, have expressed interest in rebuilding Syria's power generation capacity, roads, ports and other damaged infrastructure.
Syria has signed a $7-billion power deal with Qatar and an $800-million agreement with UAE-based port company DP World in recent months. U.S. energy firms are also set to draw up a master plan for the country's energy sector.
In April, Saudi Arabia and Qatar announced they would pay off Syria's World Bank arrears, opening up the possibility of new lending.
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Russian President Vladimir Putin said he was ready to assist in rebuilding Syria’s war-damaged economy as the country's interim President Ahmad al-Sharaa made his second visit to Moscow in less than four months on Wednesday (28 January).
Turkish President Recep Tayyip Erdoğan has had a call with his U.S. counterpart, Donald Trump, to discuss recent developments in northern Syria, where a fragile truce remains in place between Damascus and the Kurdish-led Syrian Democratic Forces (SDF).
Residents in Syria’s Kurdish-majority city of Qamishli have stepped up volunteer patrols amid growing pressure from the country’s Islamist-led government, expressing deep mistrust of Damascus despite a fragile U.S.-backed ceasefire.
The Turkish Disaster and Emergency Management Authority (AFAD) and the Turkish Red Crescent (Kızılay) on Sunday dispatched 11 trucks carrying humanitarian aid.
Liverpool confirmed direct qualification to the UEFA Champions League round of 16 with a 6-0 win over Qarabağ at Anfield in their final league-phase match. Despite the setback, Qarabağ secured a play-off spot, with results elsewhere going in the Azerbaijani champions’ favour on the final matchday.
China is supplying key industrial equipment that has enabled Russia to speed up production of its newest nuclear-capable hypersonic missile, an investigation by The Telegraph has found, heightening concerns in Europe over Moscow’s ability to threaten the West despite international sanctions.
Storm Kristin has killed at least five people and left more than 850,000 residents of central and northern Portugal without electricity on Wednesday (28 January), as it toppled trees, damaged homes, and disrupted road and rail traffic before moving inland to Spain.
Russian President Vladimir Putin said he was ready to assist in rebuilding Syria’s war-damaged economy as the country's interim President Ahmad al-Sharaa made his second visit to Moscow in less than four months on Wednesday (28 January).
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 28 January, covering the latest developments you need to know.
U.S. stock markets finished mixed on Wednesday (28 January) as investors reacted calmly after the Federal Reserve left interest rates unchanged, a decision that had been widely expected and largely priced in.
The S&P 500 edged to a record closing high on Tuesday, marking its fifth consecutive day of gains, as strong advances in technology stocks offset a sharp selloff in healthcare shares and a mixed batch of corporate earnings.
Chevron is in talks with Iraq’s oil ministry over potential changes to the commercial framework governing the West Qurna 2 oilfield, one of the world’s largest producing assets, after Baghdad nationalised the field earlier this month following U.S. sanctions imposed on Russia’s Lukoil.
Argentina's economic activity shrunk 0.3% in November compared with the same month last year, marking the first monthly contraction of 2025, data from Argentina's national statistics agency showed on Wednesday.
Wall Street closed sharply lower on Tuesday as global markets fell after U.S. President Donald Trump’s new tariff threats against Europe unsettled investors and revived fears of renewed volatility.
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