logo

Jazeera Airways to restart direct flights to Damascus

Zawya02-06-2025
Kuwaiti low-cost airline Jazeera Airways is all set to resume direct flights to Syrian capital Damascus from Kuwait city.
This comes in response to a strong demand from the large 200,000-strong Syrian expatriate community in Kuwait - one of the largest Middle Eastern communities in the country - as well as increasing interest in re-establishing business, cultural, and familial ties between the two nations, said Jazeera in a statement.
Regional carriers across the GCC have already re-established air links with Syria, and Jazeera will also commence flying once it receives the regulatory clearance.
The Kuwaiti budget carrier had previously operated flights to Damascus, Aleppo, and Deir Ez Zoor, and is now well positioned to restore this vital connectivity.
Announcing this, Chairman Marwan Boodai said: "We are excited to start operating to Syria after a 12-year hiatus. Restoring direct flights to Damascus will provide a critical bridge for thousands of Syrians living and working in Kuwait, while also supporting broader regional efforts to re-engage with Syria."
"In line with the wider momentum across the region, we are completely set up and ready to start flying as soon as we receive the required regulatory approvals," he stated.
Several GCC nations, including Qatar, UAE and others in the Middle East region such as Jordan and Turkey have already resumed or announced their intentions to resume air connectivity with Syria, recognizing the growing need for regional integration and the normalisation of civil aviation ties, he added.
Jazeera Airways said it remains committed to upholding the highest operational and safety standards in line with international aviation protocols.
Upon approval, the airline plans to operate direct daily services to Damascus, with further expansions to other Syrian cities also under consideration, it added.
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Kuwait to attract $32bn investment and create 50,000 jobs under New Kuwait 2035 mega projects
Kuwait to attract $32bn investment and create 50,000 jobs under New Kuwait 2035 mega projects

Arabian Business

time3 hours ago

  • Arabian Business

Kuwait to attract $32bn investment and create 50,000 jobs under New Kuwait 2035 mega projects

Kuwait is rolling out one of its most ambitious development drives to date, with plans to attract up to KD10bn ($32.6bn) in private and foreign investment, generate annual revenues of KD1bn ($3.26bn) by 2030, and create more than 50,000 new jobs. The programme is anchored in the New Kuwait 2035 Vision and combines sweeping reforms, strategic partnerships, and mega projects in energy, transport, infrastructure, smart cities, and industrial zones. The government says the strategy will also reduce pressure on the state budget by around 30 per cent while strengthening long-term economic sustainability. Kuwait megaprojects Integrated government action — linking economic diplomacy with global partners and supported by new regulatory frameworks — is driving this transformation, which aims to boost transparency, accelerate project delivery, and diversify national income sources. A Ministerial Committee for Monitoring Agreements with China has held 22 meetings to fast-track projects and remove obstacles. Progress has already been made on the Mubarak Al Kabeer Port project, with the execution contract signed in March. Environmental cooperation includes afforestation programmes, ecosystem rehabilitation, and land reclamation. Kuwait has also elevated its historic ties with Japan to a comprehensive strategic partnership, expanding cooperation across trade, investment, renewable energy, and petrochemicals. Major power and infrastructure projects Among the largest projects under way are the second and third phases of the Al Zour North Power Plant, designed to meet rising demand for power and water. The project encourages private sector participation to cut costs, accelerate completion, and optimise resource use — reflecting the government's broader push to integrate private capital into infrastructure development. Kuwait's 2025–26 development plan, approved in March, includes 124 projects: 69 under ministries, 21 with affiliated entities, and 34 with independent institutions, making it one of the country's most ambitious pipelines. Reforms to boost investment The government has rolled out wide-ranging reforms, including: A new real estate brokerage system A smart licensing project Amendments to the Companies Law A taxation framework for multinational groups Launch of the Real Estate Developer System Kuwait has also advanced the third phase of its Capital Market Development Program, a key step toward upgrading to advanced emerging market status and boosting investor confidence. Global institutions lift outlook The World Bank projects Kuwait's economy will rebound to 2.2 per cent in 2025, driven by infrastructure projects, OPEC+ production adjustments, and non-oil sector growth. Growth is forecast to stabilise at 2.7 per cent between 2026–27. S&P Global Ratings expects continued growth supported by reforms, while EFG Hermes highlighted improved decision-making and raised its forecast for banking sector expansion starting from 2026. Leadership commitment Prime Minister Sheikh Ahmad Abdullah Al Ahmad Al Sabah said positive economic indicators and rising foreign investment confirm the government's determination to deliver on its development goals. He stressed that the progress reflects the vision of the Amir Sheikh Meshal Al Ahmad Al Jaber Al Sabah, adding that the reforms and mega projects will reinforce Kuwait's position as a regional investment hub.

US rate cuts open window for GCC bond market gains
US rate cuts open window for GCC bond market gains

Arabian Post

time6 hours ago

  • Arabian Post

US rate cuts open window for GCC bond market gains

Matein Khalid It is now all but certain that the Federal Reserve will cut the US overnight borrowing rate, currently 4.25 percent, by at least 25 basis points at its September 18 Federal Open Market Committee (FOMC) meeting. The labour market is losing momentum, while tariff-driven inflation has yet to show up in the Consumer Price Index. The Trump White House has ramped up pressure on Fed Chair Jerome Powell to deliver a fresh round of rate cuts. Treasury secretary Scott Bessent has publicly urged a 150-175 basis-point reduction in the Fed funds rate to jumpstart US growth. If the FOMC yields, the policy rate could sink to 2.5 percent by next summer. ADVERTISEMENT Such a move would sharply reduce the interest income earned by GCC family offices and corporates on three-month US dollar bank deposits, which now yield around 4 percent or less in the Gulf. Savers and investors in the region will therefore need to consider reallocating from cash holdings into bond and sukuk strategies within the GCC market. Credit risk, duration risk and interest rate risk are unavoidable when investing in the GCC bond market, which is predominantly denominated in US dollars. The kingdom of Bahrain sovereign bond has a coupon of 6.75 percent and a maturity date of August 20, 2029. Bahrain may be well into non-investment grade territory but, based on guarantees or attachment of specific cash flows, Fitch assigns this issue of Bahrain debt a BBB credit rating, which is investment grade. The four-year bond offers a yield to maturity of 5.65 percent. If the Fed funds rate drops to 2.5 percent in the next easing cycle, the yield to maturity on Bahrain's bonds may also decline, allowing investors to book capital gains. Investors in the UAE can also buy bonds and sukuk issued by prime Emirati banks which are majority-owned by the governments of Abu Dhabi and Dubai. For instance, First Abu Dhabi Bank (FAB) has a subordinated debt issue which offers a 6.32 percent coupon and a maturity date of April 04, 2034. This FAB bond is trading at 104 and provides a yield to maturity of 5 percent. FAB has the lowest funding cost in the UAE, with an S&P rating of AA-. Investors seeking Dubai bank exposure may look to Emirates NBD, the city's largest universal bank. Its perpetual bond carries a 6.25 percent coupon, is trading at 103, and has a next call date of August 25, 2030, translating into a yield to call of 5.65 percent. Suppose the Federal Reserve cuts its benchmark interest rate at every FOMC meeting after September, as Wall Street and the US Treasury secretary now expect. In that case, bond market yields will also fall, and the price of GCC sovereign and bank debt will rise. Regional investors should not wait for the Fed funds rate to bottom at 2.5 percent in the coming easing cycle. By then, GCC bond prices will likely have already risen sharply, as cash yields compress in response to the Fed's dovish pivot. While it is prudent for every investor to retain a cash cushion to cover unexpected emergencies, the Wall Street dictum that 'cash is trash' is most relevant when the Fed slashes its policy rate. Although bonds typically offer higher yields than bank deposits, investors remain exposed to risks. A downgrade in an issuer's credit rating or a rise in interest rates, driven by inflation or shock events such as a sudden war or oil price spike, as seen after Saddam Hussein's invasion of Kuwait or Russia's invasion of Ukraine, can trigger losses. The biggest risk to intermediate-term bonds issued by GCC banks and governments is the supply glut in the oil market and a plunge in Brent crude below its current $66 spot price Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.

Sweida governance shift raises Druze ‘separatist ambitions', warns UN envoy
Sweida governance shift raises Druze ‘separatist ambitions', warns UN envoy

The National

time7 hours ago

  • The National

Sweida governance shift raises Druze ‘separatist ambitions', warns UN envoy

The UN's special envoy for Syria warned on Thursday that the creation of a local committee to oversee governance in Sweida has led to accusations of 'separatist ambitions' among the province's Druze community after weeks of violence. Geir Pedersen told the UN Security Council that this shift, combined with appeals for support from external actors, is contributing to the rising tension in the southern province and risks Syria's fragile political transition. 'It is essential that the committee's findings are made fully public, and that all perpetrators – regardless of affiliation – are held responsible,' Mr Pedersen said. 'These events underscore the urgent need for the interim authorities' security forces to demonstrate that they are acting solely to protect all Syrians and do not constitute a threat.' Fighting erupted in Sweida on July 13, with clashes between local Druze fighters and Sunni Bedouin drawing in government troops and armed volunteers from other regions. The violence has posed an early test for Syria's new interim administration, which took power following the overthrow of Bashar Al Assad late last year. The Syrian Observatory for Human Rights said the clashes have left about 1,600 people dead, many of them Druze civilians, prompting protests demanding greater autonomy and self-determination for the province. Mr Pedersen said that while a month of relative calm has followed, the political situation remains volatile. 'Escalatory and zero-sum rhetoric is hardening among key players,' he said, noting that new footage showing graphic abuses during the clashes had further inflamed tension. The envoy warned that the violence underscores the challenges facing President Ahmad Al Shara as he seeks to consolidate power, rebuild war-torn institutions and maintain central authority despite continuing efforts to normalise relations with the US and deepen security contacts with Israel. 'The situation remains deeply fragile,' Mr Pedersen said, urging all sides to avoid actions that could polarise communities or destabilise the region further. He also pressed other Syrian constituencies to actively support a unified political transition. 'All communities must show that they want to be part of a united Syria and are willing to engage in action and not just in word in a peaceful transition that restores Syrian sovereignty, unity, independence and territorial integrity,' he said. US acting ambassador to the UN Dorothy Shea called on the Syrian interim authorities to act 'decisively and consistently to protect everyone, no matter their ethnicity or religion". 'There must be zero tolerance and swift justice for any member of Syria's military that abuses the trust placed in them,' Ms Shea told council members.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store