Elon Musk's Starlink and Lebanon in talks to begin working together
Elon Musk's Starlink and the Lebanese government are discussing making the internet service available in the country, Lebanon's presidency said on Thursday.
President Joseph Aoun met with Starlink's Global Director of Licensing and Development, Sam Turner, and was briefed on the negotiations between the company and Lebanon's Telecommunications Ministry.
Lebanon's Telecoms Minister Charles Hage also met with Aoun to update him on the progress, allowing Lebanon to become one of the 136 countries where the service is available.
The Lebanese presidency said Turner presented Starlink's 'most prominent benefits in enhancing satellite internet service, which will positively impact the work of industrial, commercial, banking, and educational institutions, as well as government departments and institutions.'
Lebanon is years behind in internet and telecommunications services and had been one of the most expensive countries to purchase mobile data plans.
Years of corruption and wasteful spending led to a major deficit and public debt.
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Arab News
4 hours ago
- Arab News
Mining, entertainment sectors eye 100bn in investments by 2030
RIYADH: Saudi Arabia is steadily progressing in its journey to attract $100 billion in foreign direct investments by the end of this decade, with the Kingdom heavily focusing on securing funds in high-growth sectors, experts have said. Saudi Arabia's Vision 2030 economic diversification program aims to transform its economic landscape, including attracting foreign direct investment and increasing FDI's contribution to the Kingdom's gross domestic product. To facilitate and increase FDI, in August Saudi Arabia approved an updated investment law, aimed at boosting transparency and easing the process of investing in the Kingdom. Speaking to Arab News, Emilio El-Asmar, partner at Oliver Wyman's Government and Public Institutions practice – India, Middle East and Africa, said that the mining sector is one of the most promising industries that will help the Kingdom achieve its FDI goals by 2030. He also pointed out that the ongoing regulatory reforms happening in Saudi Arabia are making the Kingdom an attractive destination for foreign investments. 'Saudi Arabia's National Investment Strategy, central to Vision 2030, aims to transform the Kingdom into a globally competitive, innovation-driven economy,' said El-Asmar. Saudi Arabia offers geopolitical neutrality, long-term offtake potential, and value-add opportunities. Emilio El-Asmar, partner at Oliver Wyman's Government and Public Institutions practice – India, Middle East and Africa He added: 'Mining and metals are among the most promising areas, as the Kingdom has $2.5 trillion worth of untapped resources, including gold, copper, lithium, and rare earth elements, which are vital to energy transition and global industry. Regulatory reforms and integrated industrial zones are opening this frontier market to international investment.' The comments from the Oliver Wyman official come after Saudi Arabia launched a new incentive package to attract foreign direct investments into the nation's mining sector. The Ministry of Investment is collaborating closely with the Ministry of Industry and Mineral Resources through an exploration enablement program aimed at simplifying investments in the mineral exploration industry, the Saudi Press Agency reported in March. Ryan Alnesayan, partner at Arthur D. Little in the Middle East region, also echoed similar views and said that the mining sector could become a game changer in Saudi Arabia's economic diversification journey. 'The new mining law and exploration incentives are attracting serious interest, and the Kingdom is positioning itself as a global mining hub with reliable data, infrastructure, and long-term demand,' said Alnesayan. El-Asmar further said that Saudi Arabia's Ras Al-Khair and Wa'ad Al Shamal offer integrated infrastructure, rail and port access, and proximity to downstream processing, making them investment-friendly destinations for international entities. 'These ecosystems support refining, smelting, and metal fabrication. A pipeline of investable projects, from exploration to processing, is backed by national institutions including the Public Investment Fund and industrial champions,' said the Oliver Wyman official. Global players are investing in everything from gaming and digital media to smart cities and AI. Ryan Alnesayan, partner at Arthur D. Little in the Middle East region He added: 'As global supply chains seek secure mineral sources, Saudi Arabia offers geopolitical neutrality, long-term offtake potential, and value-add opportunities. Its location between Africa, Asia, and Europe gives investors access to regional growth markets.' In January, speaking at the Future Minerals Forum, Saudi Arabia's Minister of Industry and Mineral Resources Bandar Alkhorayef said the nation seeks to promote exploration opportunities across 5,000 sq. km of mineralized belts in 2025, aligned with the Kingdom's broader plans to establish mining as the third pillar of its industrial economy. In May, a report released by the General Authority for Statistics revealed that net FDI into Saudi Arabia stood at SR22.1 billion ($5.89 billion) in the fourth quarter of 2024, representing a rise of 26 percent compared to the previous three months. GASTAT also added that this figure was the highest level across the year, surpassing the SR15.5 billion seen in the first three months of 2024, the SR19 billion recorded in the second quarter, and the SR17.5 billion witnessed in the third. This development comes after Saudi Arabia rose to 13th place in Kearney's 2025 Foreign Direct Investment Confidence Index, published in April. This is up one spot from last year and also means the Kingdom retained its position as the third-most attractive emerging market, signaling continued global confidence in its transformation strategy. Kearney added that the ranking reflects the nation's bold, reform-driven approach to building an internationally competitive, future-ready economy. Other crucial sectors El-Asmar also outlined other crucial areas that could drive FDI into Saudi Arabia in the coming years. According to the Oliver Wyman official, sectors including pharmaceuticals, biotechnology and petrochemicals are also expected to see foreign funds pour into the Kingdom. He added: 'In petrochemicals, Saudi Arabia is expanding beyond crude oil into speciality chemicals, high-performance plastics, and packaging, backed by integrated feedstock and logistics infrastructure.' El-Asmar said that Saudi Arabia is ranked second among G20 countries in digital competitiveness, and the Kingdom has strong infrastructure, forward-looking regulations, and digital competitiveness capable of drawing FDI in AI, cloud, cybersecurity, smart city tech, fintech, and health tech. 'Incentives include regulatory sandboxes, IP protections, and access to a growing consumer and enterprise market, making the Kingdom attractive for global tech firms and startups,' said El-Asmar. Alnesayan also highlighted the role of technology and entertainment sectors in materialising Saudi Arabia's FDI goals. 'Entertainment and tech reflect Saudi Arabia's new growth story. Global players are investing in everything from gaming and digital media to smart cities and AI. These sectors are fueling job creation, innovation, and a dynamic consumer market,' said the Arthur D. Little official. El-Asmar agreed that the entertainment sector is central to Saudi Arabia's diversification and FDI strategy, reflecting cultural openness and rising domestic demand. 'With a population of 35 million and rising demand for premium experiences, the Kingdom is seeing growth in cinemas, theme parks, live events, and content production. Major international brands are entering the market, supported by co-investment and giga-projects like Qiddiya,' he said. RHQ program and FDI Alnesayan believes that Saudi Arabia's regional headquarters program is emerging as one of the key drivers of FDI in the Kingdom. 'The RHQ Program is not just about relocating offices — it's about anchoring decision-making in Riyadh. That brings investment, talent, and deeper regional integration. We've already seen over 600 companies commit, and the momentum is accelerating,' he said. Saudi Arabia's regional headquarters program offers incentives such as a 30-year corporate income tax exemption, withholding tax immunity, and various support services for international businesses. Some of the noted firms that relocated their headquarters to the Kingdom are Northern Trust, Bechtel and Pepsico from the US, and IHG Hotels and Resorts, PwC, and Deloitte from the UK. El-Asmar also highlighted the importance of the RHQ program and said that Saudi Arabia's location — at the crossroads of Europe, Asia, and Africa — makes it an ideal base for regional operations. Potential challenges Despite all these positive developments, experts also outlined some of the challenges Saudi Arabia could face in achieving its FDI targets within the stipulated timeline. 'The fundamentals are strong, but challenges remain — global volatility, talent gaps, and the need for ongoing regulatory clarity. But the Kingdom is addressing these head-on through reforms, infrastructure investment, and strategic partnerships that reduce risk and increase investor confidence,' said Alnesayan. El-Asmar said that foreign investors need predictability, and to address this, Saudi Arabia has launched the Investor Confidence Protection Mechanism and Investor Council, alongside legal reforms including English-language documentation and digital licensing portals. 'High operational costs and complex procedures persist in some sectors. Special Economic Zones, tax incentives, and digital services are helping to reduce these barriers and simplify market entry,' said El-Asmar. He concluded: 'While these challenges are real, Saudi Arabia's strategic reforms, long-term vision, and favorable location continue to make it one of the world's most promising emerging FDI destinations.'
Arab News
4 hours ago
- Arab News
Will the lifting of sanctions usher in a new beginning for the Syrian people?
LONDON: When news broke that Western sanctions on Syria would be lifted, Marwah Morhly finally allowed herself to imagine something she had not dared to in years: a stable life in her hometown of Damascus. A Syrian writer and editor now living in Turkiye, Morhly once navigated a precarious existence back home — trying to earn a remote income in a country cut off from global banking systems and mired in uncertainty. Returning to Damascus always felt like a distant dream — too risky and too complicated. But with sanctions easing, that dream is beginning to look attainable. 'It's a different kind of freedom — the freedom to dream,' she told Arab News. 'As someone who works remotely, the lifting of sanctions lets me imagine a future where I can work from my home in Damascus, receive my salary through a bank transfer directly to my account there, without any form of danger or exploitation.' Under sanctions, she said, Syrians working with foreign clients had to operate in secrecy. 'We were working in the shadows … like ghosts,' she said. 'We weren't allowed to be visible, like unknown soldiers, because the moment it became clear (to employers abroad) that the work was happening inside Syria, it could jeopardize our livelihoods.' The breakthrough came on May 13, when US President Donald Trump, during a visit to Riyadh, announced the lifting of sanctions on Syria. He framed the move as a historic opportunity for economic recovery and political stabilization. Ten days later, the US Treasury Department issued General License 25, authorizing transactions with Syria's new transitional government, led by President Ahmad Al-Sharaa. In parallel, the State Department suspended the Caesar Act sanctions for 180 days, signaling a pivot toward reconstruction and humanitarian relief. The EU soon followed suit, announcing the end of its own economic sanctions in a coordinated effort to support a nation fractured by more than a decade of civil war. On Saturday, Saudi Arabia's Foreign Minister Prince Faisal bin Farhan Al-Saud announced from Damascus a joint effort with Qatar to fund salary support for Syria's state employees. The move built on the two countries' decision earlier in May to pay off the $15.5 million debt Syria owed to the International Development Association, a World Bank fund that provides zero- or low-interest loans and grants to the world's poorest countries. This policy shift did not happen in a vacuum. Ibrahim Al-Assil, a senior fellow at the Middle East Institute, said years of grassroots advocacy were pivotal. 'Of course, the Saudi role was huge, and many Syrians appreciate that, and same for the Turkish role,' Al-Assil told CNN. 'But also, many Syrians have been working on that — from students to academics to activists to business leaders and journalists writing and talking about this and pushing more and more towards lifting sanctions.' The impact of these efforts goes beyond international politics. 'Why? Because it allows Syrians to breathe again,' he said, adding that sanctions are often viewed only on a macro level as something that affects an entire country. In reality, they have a serious impact on daily life. 'We forget that they affect the lives of the individuals on the tiny details — from medicine to connectivity and being able to check their email normally … also to what industries they can have, where they can travel, what kind of machines they can buy for their factories.' For ordinary Syrians, these limitations posed immense challenges. Now, Al-Assil said, the situation is changing. 'It's still challenging, but the major obstacle seems to have been moved out of the way for Syrians, allowing them to move ahead and rebuild their country.' Beyond basic needs, the lifting of sanctions opens new possibilities for professionals still living in Syria — many of whom have endured years of isolation, limited access to technology, and restricted earning potential. Salma Saleh, a graphic designer based in Damascus, says she has spent 13 years building her career under the weight of sanctions, along with the years before that dedicated to her education. 'The challenges have been endless,' she told Arab News. 'We struggled to access most technologies and tools. Often, we had to use workarounds just to get hold of banned software or platforms.' Freelancing is no easier. 'Syrians are blocked from PayPal and most global payment platforms used by freelancing platforms,' she said. 'Even sites essential for our work like Shutterstock, Freepik, and Envato are inaccessible. We can't even purchase courses on Coursera or Udemy, nor the software we work with, such as Adobe programs. 'We can't promote our work on social media platforms due to the ban on paid advertisements in Syria. Clients are afraid to work with Syrian freelancers because of the difficulty with payment methods and fears of being accused of funding terrorism.' Electricity outages posed further challenges. 'My heart nearly stopped every time the power cut while I was rendering a video on my laptop,' said Saleh. 'It happened so many times we eventually got used to it. Syrian designers have become the most resilient professionals out there.' Syria's electricity sector has all but collapsed owing to infrastructure damage, fuel shortages, and economic sanctions. Once relatively stable, the system now delivers just a few hours of electricity per day. In some areas, that is as little as 30 minutes. 'We had to jump through hoops just to keep up with the rest of the world,' said Saleh. 'We gave it everything. I consider the Syrian designer a super designer — and rightfully so.' For Syrians across the diaspora, the developments mark a fragile but significant turning point. Cautious optimism is beginning to take root — even as the country remains divided and the road to recovery is long. Lama Beddawi, a Syrian-American DevOps environment analyst based in the US, echoed that sentiment. 'The recent decision to lift sanctions on Syria marks a pivotal turning point, and I am hopeful that it signals a move in the right direction,' she told Arab News. 'This development brings a sense of optimism that the country's long-strained economy may begin to recover, opening the door for increased stability and renewed international investment,' she said. 'With fewer restrictions, Syria has the potential to rebuild its infrastructure, strengthen its institutions, and create opportunities for its people, paving the way for a more sustainable and prosperous future.' Still, the benefits remain largely theoretical for now. On the ground, daily challenges persist, and progress will take time. 'Everyone understands this isn't a magic fix — the effects will take time to show,' said Morhly. 'As one man from central Damascus put it: 'For now, we'll take a hit from the dollar rate, but in a couple of months, more people will actually be able to afford meat again.'' There is also cautious optimism that basic services might begin to improve. 'There's hope the electricity situation might improve — which is the second biggest concern after water, especially with summer approaching and the heat already setting in,' she added. From an economic perspective, the lifting of sanctions presents both opportunities and challenges. Mohamed Ghazal, managing director of Startup Syria, a community-led initiative supporting Syrian entrepreneurs, believes translating sanctions relief into concrete gains such as jobs, investment, and basic services 'will be a complex and gradual process.' He remains optimistic about certain sectors. 'Quicker gains are possible in transport and trade,' Ghazal told Arab News. However, critical areas like general business development and startups are experiencing slower momentum. 'Lifting sanctions can take months,' said Ghazal. 'Capital flow issues persist due to a crippled banking system. 'Syria's banks lack access to SWIFT (Society for Worldwide Interbank Financial Telecommunication), suffer low liquidity, and operate under opaque regulations. 'Attracting foreign capital requires a modern investment law, clear property rights, business licensing frameworks, and financial repatriation mechanisms. 'The speed of progress depends on comprehensive reforms, institutional rebuilding, international investment, and continued humanitarian support. 'The lifting of sanctions is expected to open up channels like new funding, banking, or investment channels for Syrian startups.' Diaspora and foreign investors could offer the capital injection needed to get the economy off its knees. There are 'positive signs from the Syrian diaspora and potential foreign direct investment, especially from GCC countries and Turkiye,' said Ghazal. 'Interest from impact investors seeking financial returns and social and environmental impact.' He identified several immediate priorities for revitalizing the economy, including restoring access to SWIFT, enacting a modern investment law with clear legal protections, and easing import restrictions on essential technology to enable the use of software, cloud services, and digital tools. The SWIFT system is a global messaging network that enables financial institutions to exchange transaction details — like money transfer instructions — quickly, securely, and accurately across borders. Before Lebanon's 2019 financial collapse, many Syrians used its banking system to bypass sanctions, parking billions in assets and accessing US dollars and trade channels. When the system froze, transfers stopped, savings were locked, and Syrians lost access to critical funds. The Syrian pound then collapsed, inflation surged, and the economy worsened. While some estimates once placed Syrian deposits as high as $40 billion, remaining deposits in 2025 were estimated at just $3 to $4 billion, according to the Karam Shaar Advisory consultancy. Some experts believe sanctions relief could signal a path forward. Ghassan Ibrahim, a London-based Syria analyst and founder of the Global Arab Network, believes sanctions relief could unlock trade and investment. 'Lifting Western sanctions removes long-standing barriers to Syria joining the global market,' he told Arab News. 'It restores credibility and sends a message that Syria is on the right path.' Investor interest is already growing. 'Next week, a few American investors are heading to Damascus. We're also seeing engagement from GCC countries and Chinese firms already operating there. 'Any relief, especially from the US, will help get Syria back on track. It boosts the government's legitimacy and strengthens its diplomatic hand.' The broader economic and political impact cannot be understated. 'President Al-Sharaa will be able to travel more freely, engage in diplomacy, and attract serious development partnerships,' said Ibrahim. 'That's critical for reconstruction. 'Ultimately, this shift could improve quality of life, create jobs, and drive long-term growth.' Still, Syria's path to recovery remains long. Nearly six months after the fall of Bashar Assad, the country is still plagued by deep sectarian divisions, persistent violence, and political fragmentation. In March 2025 alone, more than 1,100 people were killed in attacks targeting the Alawite minority following coordinated assaults on government forces. Survivors remain fearful of further violence, and many perpetrators have not been brought to justice. Foreign threats compound internal instability. Israel has launched multiple airstrikes, including one near the presidential palace, citing threats to the Druze minority. Syria's new leadership condemned the attacks, highlighting the fragility of foreign relations. Internally, law and order remains weak. Women and minorities still face abuse, rights protections are unevenly enforced, and extremist groups continue to assert control in some regions, several news agencies have reported. The humanitarian crisis also endures. Around 16.7 million Syrians rely on aid, while millions remain displaced. Israel maintains a military presence, and Turkiye has voiced opposition to any settlement between Damascus and Kurdish factions — complicating efforts toward national unity. Though US, EU, and UK sanctions relief is meant to support Syria's transition, the UN warns of 'real dangers of renewed conflict.' Meanwhile, the interim government faces the daunting task of rebuilding a country where 90 percent of the population lives in poverty and millions remain displaced. The door may be open, but walking through it will require more than hope. It will take time, trust, and tangible change.
Arab News
4 hours ago
- Arab News
Majid Al-Futtaim brings Italian furniture brand Poltrona Frau to KSA
Majid Al-Futtaim, a shopping malls, communities, retail, and leisure pioneer across the Middle East, Africa, and Central Asia, has announced the opening of Poltrona Frau's first standalone store in Saudi Arabia at Centria Mall in Riyadh, marking a key milestone in the brand's regional growth. The store marks Poltrona Frau's third location in the GCC and part of Majid Al-Futtaim's broader strategy to expand its premium home offering across the Middle East. Located on the first floor of Centria Mall, Riyadh's premier destination for luxury and international fashion, the new 320-square-meter store offers curated lifestyle settings and a dedicated material library, which offers clients a hands-on opportunity to customize their interiors with an haute couture approach. Inspired by the warmth and intimacy of a contemporary home, the space was designed by multidisciplinary studio AMDL CIRCLE under the direction of architect Michele De Lucchi, and features layered textures, warm tones, and artisan-crafted details. Fahed Ghanim, CEO of Majid Al-Futtaim Lifestyle, said: 'Saudi Arabia is a key growth market for Majid Al-Futtaim and Poltrona Frau, as demand for premium, design-led living continues to rise. This opening builds on the brand's strong momentum following the world's first mall-based Poltrona Frau store at Mall of the Emirates and the launch of its localized e-commerce platform. It reflects our strategy to scale global brands across the region while delivering curated, high-quality omnichannel experiences.' Nicola Coropulis, CEO of Poltrona Frau, said: 'Following successful openings in Kuala Lumpur, Bangkok and São Paulo, our presence in Riyadh strengthens our position in a region increasingly aligned with our values of timeless elegance and artisanal quality. In partnership with Majid Al-Futtaim, this flagship store in Saudi Arabia will support both our residential and contract business growth, enabling us to serve both private clients and large-scale projects across hospitality, corporate, and public spaces.' The new flagship store will feature Poltrona Frau's most celebrated icons, including the 1919 armchair, the Vanity XC armchair, the Archibald sofa, pieces from The Five Seasons Collection of 2025 and highlights from the 2024 Imagine Collection. The Blisscape Sofa by Ludovica Serafini + Roberto Palomba, will be unveiled for the first time regionally, following its debut at the Salone del Mobile and its direct arrival from the Milan flagship store. Also on display is the Mallorca Rug from Sahrai's Underwaterlife summer collection, alongside products from Ceccotti Collezioni, the Tuscan woodworking atelier acquired by Poltrona Frau in 2018. To mark the opening, a Poltrona Frau master artisan will demonstrate the brand's handcrafting techniques live in-store, providing a rare glimpse into the savoir-faire that has defined the brand for over a century. The activation echoes the values of L'Atelier dei Saperi, a recently launched initiative aimed at preserving and passing on artisanal skills through intergenerational mentorship. Poltrona Frau's entry into the Saudi market marks a strategic milestone in its regional expansion, reinforcing the brand's commitment to meeting the growing demand for timeless, design-led living across the GCC. In partnership with Majid Al-Futtaim, the brand is set for sustained growth as it continues to strengthen its presence in the region's most influential luxury destinations.
