Four US diplomats on Wednesday opened accounts at a Sudanese bank for the first time in decades, as Khartoum seeks to draw international businesses back to the country to help revive the ailing economy. In October 2017, the United States lifted its decades-old trade embargo on Sudan. But...

Shares of Turkey’s Halkbank plunged as much 7% on Wednesday, despite a ban on short selling, after U.S. prosecutors charged the state-owned lender with taking part in a multibillion-dollar scheme to evade U.S. sanctions on Iran The announcement from U.S. prosecutors came a day after...

The slump in Turkey’s lira in the wake of the Turkish military advance into Syria has made it October’s worst performing major currency, a move that looks even starker considering most emerging market currencies have powered ahead. The lira is no stranger to volatility, but this month’s 5%...

(Zaman Al Wasl)- The Katerji family has taken a significant step towards strengthening their control of most of the potential reconstruction in northern Aleppo province as the business family is close to taking over a cement factory near the city, with generous funding. This may be the...

The Turkish lira weakened against the dollar Thursday as investors fretted about negative international reaction to a ground operation launched by Turkish troops against the Kurdish militia in northeast Syria overnight. The lira weakened to 5.88 against dollar from a close of 5.8740 a day...

The lira took a hit as investors braced for a Turkish military operation in northern Syria. The currency weakened as much as 1.1% to breach 5.75 against the dollar. It pared losses to 0.8%, trading at 5.7458 as of 11:31 a.m. in Istanbul, still leading declines among emerging-market...

Often considered in the short term as a factor of aggravation of unemployment, Syrian refugees in Turkey can contribute to accelerate the pace of economic growth of the country.  According to the latest Femise report of September FEM43-05, "The long-term impact of Syrian refugees...

The Spanish government said on Thursday it would pump hundreds of millions of euros into the country's tourism sector to help it deal with the fallout from travel giant Thomas Cook's bankruptcy. The move comes days after the Spanish hotel federation warned that hundreds of hotels faced...

Iran said on Monday that it is on track to create a new oil terminal on the Sea of Oman that would open a new export route for its crude and allow tankers to bypass the strategic Strait of Hormuz. The National Iranian Oil Company signed a contract worth around $52 million Monday with three...

A masterpiece by a late Ottoman master was sold at auction on Saturday in London for over 6.3 million pounds (almost $7.4 million). The 1880 painting, Girl Reading the Quran, was the work of Osman Hamdi Bey, a pioneer of Turkish painting who died in 1910, and was sold at the Bonhams auction...

The Mediterranean's leading tourist hotspots were bracing Tuesday for a "tsunami" of losses, which could amount to hundreds of millions of euros, following the devastating collapse of British tour operator Thomas Cook. Beyond the urgent need to repatriate hundreds of thousands of tourists,...

Deputy Head of Innovation and Development Fund for International and Communications Affairs Yaser Arabnia said that as many as 40 Iranian knowledge-based firms will participate in ‘Syria Rebuild 2019’ Exhibition. Innovation and Development Fund will support 40 Iranian knowledge-based...

Mohammad Zarqawi ambled around his narrow shop in central Damascus, filling plastic bags with colourful spices and herbs, their aroma spilling out into a dim market once bustling with customers. The middle-aged shop owner said business has slowed since the value of the Syrian pound...

Louvre Hotels Group, owned by China's Jin Jiang, has signed an agreement to open two hotels under its own name in Damascus, it said on Saturday, a day after the UN announced an internal investigation into the bombing of hospitals in Syria. The confirmation of the two hotels opening, after...

Dozens of bankers from Citigroup Inc. to JPMorgan Chase & Co. descended on the heart of Dubai’s financial district Thursday to start work on the mammoth initial public offering of Saudi Aramco. Executives from Morgan Stanley and local investment bank Samba Financial Group also turned up for...

The Syrian pound hit a record low against the dollar recently before making some gains Tuesday, setting off a hike in prices in the war-torn country where a large percentage of the population already lives under the poverty line. The pound was trading at 660 to the dollar after reaching...

(AFP, Zaman Al Wasl)-  The value of the Syrian pound against the dollar has fallen again to its lowest rate in history on Sunday, following  a week of sharp collapse. On the black market on Sunday, the pound was trading at 690 against the dollar. At the...

Syria’s wheat and barley crops this year improved helped by favorable rainfall and better overall security but food security remains a challenge, a joint report by the United Nations Food and Agriculture Organization (FAO) and the World Food Program (WFP) said on Thursday. Wheat production...

The value of the Syrian pound against the dollar has fallen sharply to its lowest rate in history, an economic publication said Tuesday. On the black market on Tuesday, the pound was trading at 650 against the dollar (715 to the euro). It's "the lowest in history", Jihad...

A delegation of at least 40 businessmen from the United Arab Emirates attended a state-backed trade fair in Syria’s capital, defying U.S. warnings against doing business with the government and associates of President Bashar al-Assad. The UAE, one of Washington’s main regional allies, has...