Latest news with #Tartous
Al Arabiya
a day ago
- Politics
- Al Arabiya
Syrian FM will head a delegation to Moscow: Sources
A Syrian ministerial delegation headed by Foreign Minister Asaad al-Shaibani will travel to Russia, sources told Al Arabiya on Wednesday. Russia was a strong backer of ousted President Bashar al-Assad. Moscow played a vital role in consolidating al-Assad's rule in Syria in the aftermath of the country's civil war where it intervened in the war to his favor. Russia has been seeking to retain its naval base in Tartous and its Hmeimim air base near the port city of Latakia. Russian Deputy Foreign Minister Mikhail Bogdanov visited Damascus in January after al-Assad's fall where he met with Syrian President Ahmed al-Sharaa. Developing
Free Malaysia Today
14-07-2025
- Business
- Free Malaysia Today
Syria signs US$800 million agreement to bolster ports infrastructure
The deal's signing ceremony was attended by Syrian President Ahmed al-Sharaa. (Syria's Transitional Government/AFP pic) DUBAI : Syria's general authority for land and sea ports on Sunday signed a US$800 million agreement with UAE's DP World to bolster Syrian ports infrastructure and logistical services, Syrian state news agency SANA reported. The agreement follows on from a memorandum of understanding signed between the two sides in May. The deal with DP World, a subsidiary of UAE investment company Dubai World, focuses on developing a multi-purpose terminal at Tartous on Syria's Mediterranean coast and cooperation in setting up industrial and free trade zones. The signing ceremony was attended by Syrian President Ahmed al-Sharaa. Last month, US President Donald Trump signed an executive order terminating a US sanctions programme on Syria, paving the way for an end to the country's isolation from the international financial system and for the rebuilding of its economy shattered by the civil war. The removal of US sanctions will also clear the way for greater engagement by humanitarian organisations working in Syria, easing foreign investment and trade as the country rebuilds.
Al Jazeera
13-07-2025
- Business
- Al Jazeera
Syria signs $800m Tartous port deal with UAE firm DP World
Syria has finalised an $800m agreement with Dubai-based DP World to redevelop its Tartous port in a bid to speed up post-war reconstruction. State news agency SANA said the deal was signed in Damascus on Sunday between DP World and the General Authority for Land and Sea Ports, in the presence of Syrian President Ahmed al-Sharaa. Syrian officials described the deal as a key step towards modernising the country's logistics infrastructure. 'This strategic move will bolster our port operations and logistics services,' SANA quoted an unnamed official as saying. Since the fall of former President Bashar al-Assad in December, Syria's new leadership has been pushing to re-establish economic ties with international companies and bring the war-torn country back into the global market. Speaking after the signing, DP World CEO Sultan Ahmed bin Sulayem said Syria's economic potential remained strong, noting the Tartous port could play a central role in reviving local industry. 'Syria possesses valuable assets,' he said, 'and Tartous is an essential hub for trade and exports. We aim to transform it into one of the world's leading ports.' 'Laying the groundwork' DP World manages dozens of port facilities across Europe, Africa and Asia and has been expanding its reach in the Middle East. Qutaiba Badawi, who heads Syria's port authority, said the agreement marked more than just a commercial venture. 'We are laying the groundwork for a new era of maritime development, positioning Syria again on the international economic stage,' he said. The Tartous deal follows several high-profile contracts signed in recent months. In May, Damascus entered a 30-year agreement with French shipping company CMA CGM to operate Latakia port. That same month, Syria inked a $7bn energy deal with a coalition of Qatari, Turkish, and US firms to revive the country's power sector. Earlier this month, the United States said it will revoke its designation of Hayat Tahrir al-Sham as a 'foreign terrorist organization' as Washington softens its approach to post-war Syria. Last month, US President Donald Trump issued an executive order lifting several longstanding sanctions on Syria, which Washington said would support the country's reconstruction. The US Treasury noted the decision would ease restrictions on companies considered vital to Syria's rebuilding and governance. Western sanctions had hampered reconstruction efforts for years, further crippling an economy already shattered by more than a decade of civil war and human rights abuses under al-Assad's rule.
Yahoo
13-07-2025
- Business
- Yahoo
Syria signs $800 million agreement with DP World to bolster ports infrastructure
(Reuters) -Syria's General Authority for Land and Sea Ports on Sunday signed a $800 million agreement with UAE's DP World to bolster Syrian ports infrastructure and logistical services, Syrian state news agency SANA reported. The agreement follows on from a memorandum of understanding signed between the two sides in May. The deal with DP World, a subsidiary of United Arab Emirates investment company Dubai World, focuses on developing a multi-purpose terminal at Tartous on Syria's Mediterranean coast and cooperation in setting up industrial and free trade zones. The signing ceremony was attended by Syrian President Ahmed al-Sharaa. Last month, U.S. President Donald Trump signed an executive order terminating a U.S. sanctions programme on Syria, paving the way for an end to the country's isolation from the international financial system and for the rebuilding of its economy shattered by the civil war. The removal of U.S. sanctions will also clear the way for greater engagement by humanitarian organisations working in Syria, easing foreign investment and trade as the country rebuilds.
Arab News
13-07-2025
- Business
- Arab News
Syria signs $800m agreement with DP World to bolster ports infrastructure
DUBAI: Syria's General Authority for Land and Sea Ports on Sunday signed a $800 million agreement with UAE's DP World to bolster Syrian ports infrastructure and logistical services, Syrian state news agency SANA reported. The agreement follows on from a memorandum of understanding signed between the two sides in May. The deal with DP World, a subsidiary of UAE investment company Dubai World, focuses on developing a multi-purpose terminal at Tartous on Syria's Mediterranean coast and cooperation in setting up industrial and free trade zones. The signing ceremony was attended by Syrian President Ahmed Al-Sharaa. Last month, US President Donald Trump signed an executive order terminating a US sanctions program on Syria, paving the way for an end to the country's isolation from the international financial system and for the rebuilding of its economy shattered by the civil war. The removal of US sanctions will also clear the way for greater engagement by humanitarian organizations working in Syria, easing foreign investment and trade as the country rebuilds.
