Latest economic and financial news about Syria, currency markets, and regional economy updates.
The Syrian Sovereign Fund and Emirati developer Arada signed an agreement on 31 August 2026 to build the $7 billion New Damascus project, a four-million-square-meter development that includes housing for camp residents and owners of destroyed homes.
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The Syrian Mining Company and a French firm signed a memorandum on 31 August 2026 to operate and invest in the Homs phosphate washing plant, which has a capacity of 1.2 million tons a year — an early step toward foreign investment in Syria's mining sector.
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Syria's removal from the US state-sponsors-of-terrorism list is reopening correspondent banking, letters of credit and trade finance, as officials point to a $100 million World Bank grant and a returning international payments network.
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Syria's national carrier has taken delivery of two Airbus A320 aircraft, the first under an eight-plane fleet modernization program tied to a $4 billion redevelopment of Damascus International Airport.
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Syria's economy ministry signed a 30-year memorandum with a Saudi holding company to rehabilitate and operate the state-owned Hama iron and steel plant, aiming to lift annual output to at least 350,000 tons within four years.
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Turkey's trade minister visited Aleppo on 27 August 2026, announcing a joint customs committee, expanded border crossings, and a plan to lift bilateral trade to $10 billion after it reached $3.75 billion in 2025.
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Syria is expanding six industrial cities nationwide, including a 10,000-hectare increase at Hasiyah in Homs and a 1.5-million-square-meter development contract at Sheikh Najjar in Aleppo, with near-cost land and five-year payment terms for investors.
Read More →President Ahmad al-Sharaa paid for coffee with a Visa card in Damascus on 27 August 2026, as Visa, Mastercard and QNB Group ran Syria's first live international card transactions in over 15 years.
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A Saudi-led consortium signed a technical services agreement on 27 August 2026 to study an integrated water and desalination system for Syria, targeting capacity of up to 1.2 million cubic meters a day and a 400-kilometer transport network.
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A Turkish firm signed a one-year agreement at the Damascus International Fair on 27 August 2026 to expand the Bab al-Hawa Industrial City, aiming to open some 2,000 industrial investment opportunities and rebuild core infrastructure.
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