Syria on Wednesday finalised 12 major investment agreements totalling $14 billion, part of an ongoing effort to repair its economy and infrastructure after more than a decade of civil conflict.
The contracts were signed during a ceremony in Damascus, attended by interim President Ahmed al-Sharaa, and cover sectors such as transportation, infrastructure, and real estate.
Among the most high-profile deals is a $4 billion agreement with Qatar’s UCC Holding to construct a new international airport in Damascus. Additionally, the UAE's national investment corporation will fund a $2 billion subway system in the Syrian capital – a first for the country.
Another flagship project, the $2 billion Damascus Towers development, was signed with Italy-based firm UBAKO, focusing on luxury mixed-use towers expected to reshape the city skyline.
These new agreements follow a separate $6.4 billion deal inked with Saudi Arabia in July, which included housing and industrial projects. Syria’s Ministry of Economy said these partnerships are “part of a national strategy to attract foreign investment for post-war reconstruction.”
Syria’s civil conflict, which began in 2011, has devastated its economy, leaving more than 90% of the population living in poverty, according to the United Nations. More than 13 million people remain displaced or in need of humanitarian assistance.
Saudi Arabia’s air defences have intercepted and destroyed a hostile drone over the Riyadh region, according to the Saudi-led coalition fight...
Police were deployed across Paris on Saturday, as a curfew was set to take effect in the Republique and Chât...
A drone strike hit a power station in northern Sudan early Sunday (1 November), sparking a fire and triggering loud explosions, witnesses said....
The U.S. has approved the sale of 500 Patriot PAC-3 missiles to Ukraine in a deal worth an estimated $2.1 billion, but Kyiv could face years of delays before receiving the weapons it urgently needs to defend against intensifying Russian attacks.
Iranian Supreme Leader Ayatollah Khamenei has ordered Iran's armed forces to respond to any threat immediately and without geographical limits in statements posted to social media platforms on Saturday (31 October).
Demonstrators carrying Iranian flags and placards supporting the hijab gathered outside the Azerbaijani Embassy in London.
A Chinese-made AI chip has matched Nvidia’s H200 in tests conducted by its developer, marking a potential breakthrough in China’s efforts to reduce its dependence on foreign technology.
A hacking group linked to North Korea is widely believed to be behind the theft of $6.3 billion from cryptocurrency giant Binance, a cyberattack that experts describe as the largest cryptocurrency heist on record.
Police were deployed across Paris on Saturday, as a curfew was set to take effect in the Republique and Châtelet-Les Halles areas from 11pm Saturday until 6am Sunday (1 November).
A drone strike hit a power station in northern Sudan early Sunday (1 November), sparking a fire and triggering loud explosions, witnesses said.
Gen Z protests swept 34 German cities on Saturday (31 October) over education and living costs. Violence erupted in Frankfurt, where shops were looted and police reported Molotov cocktail attacks.
Iran designated Britain's Royal Navy and Royal Air Force as terrorist organisations on Sunday, (1 November), and classified the country's foreign intelligence agency, MI6, as a hostile group, according to a statement from the Iranian Foreign Ministry.
Thousands protested in Albania's capital, Tirana, on Saturday (31 October), demanding Prime Minister Edi Rama's resignation over perceived corruption allegations and dissatisfaction with the government over a lack of jobs and poor education standards.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment