Trump administration revokes Syria's ‘Hayat Tahrir al-Sham' terror designation
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Arab News
4 minutes ago
- Arab News
Saudi, UAE foreign ministers hold call
RIYADH: Saudi foreign minister Prince Faisal bin Farhan spoke with his UAE counterpart on Sunday, the Saudi Press Agency reported. During the call, Prince Faisal and Sheikh Abdullah bin Zayed Al-Nahyan reviewed Suadi-Emirati relations and discussed topics of common interest, SPA added.
Al Arabiya
36 minutes ago
- Al Arabiya
Syria's al-Sharaa hopes for Kurdish deal to prevent conflict
Syrian President Ahmed al-Sharaa has expressed hope that his country would avoid military conflict with US-backed Kurdish forces if efforts to integrate their autonomous administration in northeast Syria into the state structure collapse. In remarks late on Saturday to senior figures from Idlib, where he has mustered loyalist forces, al-Sharaa said Kurdish leaders had signaled readiness to move forward with a landmark deal in March to bring their Kurdish-run areas under state authority. But their actions on the ground suggested otherwise, he told the publicized forum. 'At times on the ground there are signals opposite to what they say in the negotiations,' al-Sharaa said. Turkey and Washington, the main powers backing the deal to integrate Syria's oil-rich northeast into the state, wanted to resolve the issue peacefully, al-Sharaa said. 'These parties are pushing for a solution peacefully. I hope we don't enter into a dispute. I am hopeful in a few months we will resolve it,' he said. The collapse of follow-up talks since the March deal has escalated tensions in the region, triggering fresh clashes this month between government troops and the Kurdish-led, US-backed Syrian Democratic Forces (SDF). The SDF, which controls parts of northeast Syria where Arabs form a majority, has recently fortified extensive tunnel networks along the frontlines. Many tribal Arabs accuse the SDF of discriminatory policies – claims Kurdish officials deny. Concern over major escalation Turkey-backed forces have also reinforced their positions amid concerns over a potential large-scale escalation in hostilities, officials say. Ankara has warned of military action against the SDF, which it considers a terrorist organization and has targeted in past cross-border operations. It expects the Syrian government to address its security concerns but says it reserves the right to mount an offensive if needed. US envoy for Syria, Tom Barrack – an advocate for a strong, unified Syrian state – voiced concern last month over Kurdish delays in implementing the March deal, urging faster progress. Authorities in Damascus reacted earlier this month angrily to a recent SDF conference calling for greater decentralization and which demanded a review of a constitutional declaration it said discriminated against minorities, a move officials said threatened Syria's territorial integrity. Syrian officials said any military push against the SDF would rely on Turkish-backed factions operating in northern Syria, adding that Ankara has grown impatient with what it sees as Kurdish foot-dragging. Al-Sharaa said those who sought partition were 'dreaming' and insisted the country would not give up any stretch of territory. He also criticized Druze groups seeking support from Israel in their confrontation with Damascus. Thousands joined a large Druze protest in Sweida on Saturday, demanding self-determination, hoisting Israeli flags and praising Israel for a military intervention that forced Syrian forces to retreat after hundreds of people were killed last month. Al-Sharaa acknowledged that 'violations' had been committed by security forces and army personnel in Sweida, but said Druze militias had also perpetrated crimes.
Asharq Al-Awsat
38 minutes ago
- Asharq Al-Awsat
S&P Upgrades Lebanon's Local Credit Rating, Keeps Foreign Debt in Default
Standard & Poor's (S&P) has raised Lebanon's long-term local currency credit rating to CCC from CC, maintaining a 'stable' outlook. However, the agency left the country's foreign currency rating at Selective Default (SD), underscoring Beirut's ongoing failure to honor certain obligations. The upgrade reflects what S&P described as Lebanon's improved capacity to service domestic commercial debt, supported by fiscal surpluses over the past two years and initial progress on reforms tied to a prospective IMF program. The 'selective default' designation refers to a situation where an entity defaults on specific commitments while continuing to meet others. Lebanon remains among the world's weakest credit risks. Fitch downgraded the country to Restricted Default (RD) in mid-2024 for both local and foreign currencies before withdrawing its ratings altogether, citing lack of essential financial data. Moody's still places Lebanon at C, its lowest rating. Lebanon's local-currency debt has shrunk dramatically, falling to around 2 percent of GDP - less than $1 billion - by the end of 2024, down from roughly 100 percent before the financial collapse in 2020. This was largely the result of a 98 percent collapse in the Lebanese pound's value between 2019 and 2024. Despite the turmoil, the government has maintained payments on local commercial obligations. It resumed interest payments to the central bank in 2024 after a three-year halt and has pledged to start repaying arrears this year. The government formed in early 2025 under President Joseph Aoun and Prime Minister Nawaf Salam has pushed through several reforms, including a revised banking secrecy law and a bank restructuring bill. However, the crucial 'financial gap' law - needed to apportion past losses and protect depositors - remains stalled. The IMF, following a recent mission to Beirut, stressed that passing this law and approving the 2026 budget are essential. The fund has urged Lebanon to adopt a revenue-boosting and spending-rationalization strategy before further support can be unlocked. S&P cautioned that major debt restructuring is unlikely before the May 2026 parliamentary elections, five years after Lebanon defaulted on its Eurobonds. The ongoing conflict between Israel and Hezbollah, despite a November 2024 ceasefire, continues to darken economic prospects. Lebanon's economy contracted by 6.5 percent in 2024, following smaller declines in 2022 and 2023. In dollar terms, GDP has halved from $55 billion in 2018 to $28 billion last year. S&P projects modest average growth of 2.3 percent in 2025–2026. Since February 2024, the pound has stabilized around 89,500 to the dollar. Government net debt is expected to fall to 113 percent of GDP by end-2025, down from about 240 percent in 2022, thanks to fiscal gains, currency stability, and inflation-driven nominal growth.
